Morrisville, NC - May 16, 2016 - SciQuest, Inc. (Nasdaq: SQI), the leading public provider of spend management solutions delivering value beyond savings, today announced the launch of the new Portfolio Savings Manager (PSM). The new tool, which fully integrates with the SciQuest Source-to-Settle Suite, provides procurement buyers to finance departments to CEOs a collaborative solution to validate, track and measure the success of savings initiatives throughout the organization.

'Until now organizations have not been able to seamlessly manage, monitor and quantify the value of a project in one easy-to-use dashboard, which meant they would spend hours gathering and analyzing data,' said Stephen Wiehe, president and CEO of SciQuest. 'With PSM, we have connected project management, savings tracking and workflow management tools onto one unified interface that it can also work in perfect harmony with our existing source-to-settle suite. We are certain this new tool will not only enable teams to quantify results, but will also enable cross-organization collaboration to find the most productive and beneficial solution possible.'

The cross-functionality of the product allows team members in any department throughout the organization to identify potential savings projects, prioritize project lists, designate approved projects and track the results over time. Additionally, PSM enables more seamless management of initiatives by combining the functionality of multiple project management tools, including the tracking capabilities of spreadsheets, process outlining of workflow plans, historical accounting of databases and reporting capabilities of dashboards. Through this single interface, users benefit from multiple offerings to achieve an all-encompassing savings tracking and management system.

In addition, PSM includes the following features:

  • A cloud-based initiative repository
  • The ability to track deliverables, including progress, status, savings and goals
  • A configurable initiative approval workflow process
  • Historical project and savings visibility
  • Configurable company-based commodity codes, descriptions, departments and other attributes

Portfolio Savings Manager will be available for purchase in July. For more information, please visit www.SciQuest.com.

SciQuest Inc. published this content on 13 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 May 2016 11:37:09 UTC.

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