|By Business Wire||
|June 30, 2014 08:05 AM EDT||
SciQuest, Inc. (NASDAQ: SQI), a leading provider of cloud-based business automation solutions for spend management, today announced that Quality Supply Chain Co-op, Inc.SM (QSCC), the independent, not-for-profit organization that oversees the supply chain for more than 6,100 Wendy’s® restaurants in North America, has expanded its use of SciQuest’s Advanced Sourcing Optimizer (ASO).
A SciQuest customer since 2011, QSCC now uses SciQuest’s ASO to automate the e-sourcing process for more than 30 percent of the company’s spend. With its new commitment to SciQuest, QSCC expects to see that rise to more than 60 percent.
QSCC is committed to conducting e-sourcing events that are innovative, efficient, and produce value and cost savings, all of which are deliverable with SciQuest’s ASO platform. Using SciQuest’s ASO, QSCC has created a more organized, efficient and repeatable sourcing process, driving significant bottom-line value to Wendy’s.
The solution was initially implemented to manage complex requests for proposals (RFPs) for food products. After just a few months, QSCC recognized the advanced capabilities of SciQuest’s ASO could help the company drive benefits across many additional, less-complicated spend categories throughout the Wendy’s supply chain. As a result, QSCC turned to SciQuest to manage e-sourcing across categories including ingredients, transportation and distribution services, disposables and packaging, contract services, and kitchen equipment.
“The decision to trust SciQuest to support our e-sourcing process is one of the better ones we’ve made,” said David Kourie, EVP of Purchasing at QSCC. “The results, which we saw almost immediately, have been remarkable. Most technology implementations start simply and grow increasingly complex – but we turned to SciQuest first to manage the most complex sourcing events in our supply chain. They’ve delivered at every step of the way, to the benefit of Wendy’s and its franchise system.”
SciQuest’s ASO enables QSCC to conduct sourcing events with an unlimited number of items and bid elements, allowing the company to aggregate spending across thousands of individual restaurants to generate more-competitive bidding and reduce costs.
Additionally, SciQuest’s Expressive Bidding® approach, which allows users to engage in a creative and collaborative bidding process, enables suppliers to provide more strategic and competitive bids. The ability to collect and evaluate each supplier’s capacity to meet demand across the supply chain has allowed QSCC to ensure supply chain continuity.
QSCC continues to look for ways to improve the e-sourcing process by developing better, more- efficient sourcing events and by leveraging components and enhancements of the ASO platform. QSCC is expanding its use of the ASO platform into categories such as building materials, restaurant equipment, and contract services.
With the ability of SciQuest’s ASO to create complex cost models, QSCC is exploring a new approach to currency exchange rates within its North American sourcing events. QSCC is also exploring ways to harness the platform’s capabilities in ways not directly related to e-sourcing. One approach is to use the RFI capabilities of the platform to collect information and data from its stakeholders.
“Given the size, scale and complexity of Wendy’s supply chain and the company’s unwavering commitment to quality, they need the best tools in the industry to ensure that their supply chain supports their high standards,” said Stephen Wiehe, president and CEO of SciQuest. “We are excited to expand our partnership with this iconic American institution.”
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.
Cautionary Note Regarding Forward-Looking Statements
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.
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