Spend Matters 50/50: SciQuest – A Provider to Know in 2015

100 companies - 100 days

We announced here and here our two (not ranked) lists: Spend Matters 50 To Know and 50 To Watch firms for 2015/2016. In the first case, this is our view of the 50 solution provider type organisations in the procurement industry that every senior procurement leader should be aware of and understand. The 50 To Watch are the up-and-coming firms  - those with interesting and relatively new solutions for our market. The 50 To Know are the key organisations in our industry that procurement executives need to have on their radar.

Having announced the lists, our US colleagues are now featuring each of the 100 firms in turn with an article giving an overview of each, with some headline Spend Matters thoughts on them. So on this site we will be giving you a brief extract of the US article, plus adding our own comments where we have anything useful to add from a European perspective. Sometimes we do, sometimes we don’t!

Here is what our US colleagues had to say about SciQuest.

"SciQuest started 20 years ago as a B2B solutions provider and has, particularly after its second IPO in 2010, rapidly gone from a narrow e-procurement focus to offering a full source-to-pay suite of products. Since January 2011, the company has acquired AECsoft USA (SLM, CLM, sourcing, supplier diversity), Upside Software (advanced CLM), Spend Radar (SA) and CombineNet (advanced sourcing).

SciQuest has made great strides in migrating acquired IP onto its core technology offering, most recently releasing a native version of the sophisticated SLM, onboarding and supplier diversity functionality from the AECsoft acquisition. This is not to be underestimated – this functionality is in hot demand from a risk management perspective and several competitors do not have similar capabilities. We expect to soon see similar enhancements making their way into the core from the Upside (CLM) acquisition."

And in terms of the UK/Europe, the core Sciquest business had a limited presence here, but other firms that have been acquired such as CombineNet were better known this side of the Atlantic.  As the whole firm becomes more integrated, we would expect to see a greater presence here in the next couple of years.

 

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