|By Business Wire||
|February 25, 2014 08:05 AM EST||
SciQuest (NASDAQ: SQI), the largest pure-play provider of cloud-based business automation solutions for spend management, today announced that RTI International, one of the world’s leading research institutes, has gone live with SciQuest’s Enterprise Reagent Manager (ERM) solution. The deployment, completed in less than four months, enables RTI International to deploy ERM along with existing SciQuest business automation solutions, including Spend Director Enterprise, Order Manager and Requisition Manager. As a result, RTI gains greater control and visibility into spending processes while cutting costs and optimizing efficiency.
SciQuest’s Enterprise Reagent Manager is a chemical inventory software solution that enables faster discovery, greater cost savings and increased health and safety compliance for organizations procuring chemical reagents and other materials used in the research process. Users throughout RTI will now be able to find, source and track reagents and supplies needed for developing compounds from a single application. Combined with SciQuest’s Spend Director, ERM delivers a fully automated workflow for requisitioning, approving, receiving and reconciling RTI’s research materials.
“We’ve been using SciQuest’s business automation solutions to reduce costs and increase savings for years, and the Enterprise Reagent Manager adds another critical layer of efficiency and automation,” said Scott Simerly, Director of Corporate Procurement/Subcontract Management at RTI International. “The compounds we develop require near-immediate access to appropriate supplies and materials, and ERM will facilitate that access. Over the years, SciQuest has evolved from a handy e-Procurement tool to an invaluable strategic partner helping us turn spending into savings.”
RTI International’s Enterprise Reagent Manager implementation was an unmitigated success. Within 120 days of go-live, SciQuest’s end-to-end solutions had helped RTI execute more than 3,000 purchase orders with 88 suppliers - both catalog and non-catalog suppliers – for purchase orders totaling more than $2.1 million. Users at RTI can now access ERM via a punch-out from Spend Director, resulting in improved researcher productivity with simultaneous searching of all available inventory and supplier catalogs, including search by chemical structure.
“We’ve helped some of the largest research institutions and life science companies in the world save as much as 10 percent on annual reagent spending, and we expect to do the same for RTI International,” said Tom Russell, general manager, SciQuest Enterprise Solutions. “The integration of our Enterprise Reagent Manager solution into their procurement strategy will enable RTI to lower costs, improve safety and compliance and make huge efficiency gains.”
SciQuest (NASDAQ:SQI) is the largest publicly held pure-play provider of cloud-based business automation solutions for spend management – offering deep domain knowledge and a leading, customer-driven portfolio. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies and reduce spend. These cloud-based solutions are easier to implement and proven to deliver measurable, sustainable value with SciQuest’s high-touch support, analysis and automation. Learn more about our solutions and how we can help your organization turn spending into savings at www.sciquest.com.
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Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks are discussed in “Part I, Item 1A, Risk Factors” and elsewhere in SciQuest’s most recent Annual Report on Form 10-K and other reports, as filed with the United States Securities and Exchange Commission (“SEC”). The company’s SEC reports are available free of charge on the SEC's website at http://www.sec.gov or on the company’s website at www.sciquest.com. These forward-looking statements speak only as of the date hereof, and SciQuest undertakes no obligation to update, amend or clarify any forward-looking statement for any reason. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.