AUGUST CONTRACTS: Penn State / SciQuest / Oracle
Penn State University is using an integrated e-procurement system to manage contracts, purchase orders, and other purchasing functions. The system includes on-demand catalog management tools from SciQuest, Inc., along with software solutions from the Oracle PartnerNetwork.
The system streamlines the exchange of business documents by combining SciQuest’s Order Manager and Settlement Manager with Oracle’s E-Business Suite and Peoplesoft Enterprise.
“By offering this [integrated solution] as a competitive advantage to our suppliers, we were able to renegotiate existing contracts as well as negotiate new contracts, resulting in over 68 percent of purchase-order transactions being issued to participating online preferred suppliers,” says Ralph Maier, Director of Purchasing Services at Penn State.
University officials also plan to use Settlement Manager to handle procurement functions such as managing the receipt of goods and services, linking receipts and invoices to purchase-order data, and processing invoices. Benefits of implementation range from avoiding multiple, redundant data entry to realizing prompt payment discounts.