April 26, 2005

SciQuest announces today that Yeshiva University has signed a multi-year agreement for SciQuest's supplier management suite of B2B applications.

Yeshiva will integrate SciQuest's Spend Director, B2B Order Manager and Science Catalog into its legacy financial system, in order to extend its existing investments and to realize additional procurement and supply chain savings.

"It was important for us to partner with someone who understood our need to further increase our purchasing efficiency while allowing us to leverage our existing in-house financial system," said Jack D. Zencheck, C.P.M., University Director, Purchasing at Yeshiva.

"SciQuest's extensive experience in higher education combined with their ability to connect us with our key suppliers made them the obvious choice for Yeshiva."

With SciQuest's on-demand e-procurement environment, organizations are able to integrate with and add value to their existing technology investments such as ERP or financial systems. By adopting a supplier management strategy such as that offered by SciQuest, Organizations are be able to:

1) Increase adoption of existing procurement systems by giving end-users one interface for all purchasing needs.

2) Eliminate the hassles of managing content or connections for multiple suppliers.

3) Automate transactions with a broader base of suppliers.

4) Drive more spend to preferred vendors and reduce maverick spend.

5) Improve spend visibility for better spend analysis and reporting.

"Proactive organizations are searching for ways to unlock more value from their existing procurement systems and supplier relationships," said Stephen Wiehe, President & CEO at SciQuest.

"Connecting to supplier content and tying it seamlessly to their existing procurement investments should be the next wave of any company's e-procurement strategy. SciQuest is committed to helping these organizations realize this goal in order to drive sustainable savings and improve their ROI."

Now in its second century, Yeshiva University is ranked in the top tier of American National Research Universities.

It embraces the heritage of the best of western civilization, along with the ancient traditions of Jewish law and life.

Source: SciQuest