Sourcing Management Software
If you're a world-class procurement organization, you know the value of strategic sourcing solutions. As an important organizational function, strategic sourcing has assumed an increasingly influential role in helping companies compete and achieve a sustainable advantage in their missions and markets.
Negotiating a sourcing agreement is a critical first step in realizing the true potential and cost savings associated with eProcurement and supply management. As competitive pressure, market volatility and supply risk intensify the focus on the processes and tools used to support the sourcing function, SciQuest has the technology to help you evaluate and identify the right suppliers to support your business.
SciQuest delivers the broadest set of e-sourcing solutions to administer a wide range of activities for organizations that are new to e-sourcing as well as the most mature sourcing teams.
- Sourcing Director is an ideal solution to manage the automation of consistent processes and ensure approved practices that streamline the routine purchasing-driven sourcing events and strategic sourcing activities that support your day-to-day business operations.
- Advanced Sourcing Optimizer is a world-class e-sourcing solution that simplifies the most strategic and complex sourcing projects, delivering results that provide your organization with a sustainable competitive advantage.
Not sure which solution is right for you?
Some organizations are just starting down the eSourcing path, while others are looking for new ways of improving their strategic sourcing activities. How would you describe your interest in eSourcing?
Research shows that even routine, tactical sourcing events consume an average of 29 hours per sourcing event. And the most time consuming activities – receiving, proofing and tabulating bid responses - add little value to the process.
Sourcing event throughput continues to be a leading challenge for procurement teams. Headcount reductions over the years, combined with growing demand for increasing the use of strategic sourcing to drive incremental savings, have led to increased workload on the procurement organization. If the effort to keep up with this demand wasn’t enough of a challenge, add in the widespread trend of bringing even more spend under the management of the procurement organization.
Sourcing Director can help you increase your event throughput by automating the process of creating, managing and awarding a sourcing event, reducing the time required to conduct routine bidding events by more than half. And the automation spans the entire event cycle, with the largest time reductions delivered in the most manual, data intensive steps.
Public sector entities, government agencies and educational institutions often have very specific requirements regarding bid solicitations and eSourcing activities. These can range from the public posting of bid notices when the value of a contract reaches certain levels, to the way in which award decisions are made and reported. Many eSourcing solutions were developed for commercial organizations that aren’t held to these requirements. But SciQuest has a long history as the leading provider of procurement solutions to State and Local governments, Universities, and other public entities. Sourcing Director can help you meet your organization’s legal requirements in a fully-featured eSourcing solution.
What sourcing events are open right now? Which ones are coming up, and how many did we conduct last month? As procurement departments continue to feel the pressure of high demand for sourcing events, executives are asking for more visibility into the sourcing pipeline, including the status of current and upcoming projects. With Sourcing Director, driving consistency in your eSourcing processes results in dashboard reporting that enables sourcing teams to respond with confidence when asked for details about their activities.
Automating the process for the eSourcing events you plan in advance helps to drive efficiency and consistency. But what about those one-off requests for ad-hoc purchases where you need to quickly engage the market for quotes and proposals? Sourcing Director integrates the eSourcing process directly into SciQuest Spend Director to turn a Purchase Request into an RFx and back to an approved Purchase Order, streamlining the process of managing unplanned sourcing activities. The result is faster response, less maverick purchasing, and better spend management.
Most procurement organizations find that eSourcing technology helps them get better results from the bulk of their sourcing activities, automating manually-intensive tasks and driving standardization and process consistency across their organization. Solutions like SciQuest Sourcing Director have delivered significant efficiencies and cost savings within the spend categories that create the highest volume of sourcing projects. But as organizations mature along the eSourcing journey, they often need additional capabilities to expand beyond the low hanging fruit of indirect spends and local services.
The challenge for experienced eSourcing teams lays in the expansion of eSourcing into other categories of spend, where the volume of events is low, but the total volume of spend can easily eclipse what is already being eSourced. For manufacturing companies, categories such as direct materials, packaging and transportation can prove elusive to standard eSourcing approaches. For service delivery-focused organizations, getting to the next level of savings for strategic indirect spend and corporate and facility services can drive requirements beyond the reach of standard eSourcing solutions. These are the areas where SciQuest’s Advanced Sourcing Optimizer has been implemented with the greatest results; alongside an existing eSourcing solution to help strategic sourcing teams expand their influence and capture more spend under management.
Falling back to using Excel spreadsheets to collect and analyze bid data from suppliers is a common occurrence as sourcing teams begin to tackle spend categories with a more data-intensive approach. Oftentimes, a general eSourcing solution that was designed to automate the bid cycle isn’t adept at collecting and evaluating multiple price and non-price data elements simultaneously. Sometimes, the number of items and suppliers involved in a sourcing event drives sourcing managers to the old standby – spreadsheets. But there is a better way – SciQuest’s Advanced Sourcing Optimizer.
Advanced Sourcing Optimizer was designed specifically to manage large and complex data sets. From large item lists to multiple bid fields per item that collect both price and non-price information from suppliers to be analyzed quickly and accurately, Advanced Sourcing Optimizer enables sourcing teams to manage large and/or complex sourcing events that would typically require the use of multiple spreadsheets, while providing the automation, auditability, and efficiency of an eSourcing solution.
Strategic sourcing is more than just e-bidding. It’s a process that revolves around a more strategic and analytical approach to making sourcing decisions. As companies begin to utilize their eSourcing solution to manage their more strategic spend categories, they often find that the amount and type of data that they need to collect and analyze is just too much for their existing technology.
SciQuest’s Advanced Sourcing Optimizer provides a flexible bid collection and powerful sourcing analysis solution for your more strategic and complex eSourcing activities. With the ability to support thousands of individual items with unique specifications, bid fields for collecting price and non-price factors from suppliers, and the industry’s leading bid analysis and optimization technology, Advanced Sourcing Optimizer helps sourcing teams easily manage the eSourcing process for their largest and most complex sourcing events.