ICYMI: SciQuest Heads Into 2016 With New 15.3 Release


SciQuest released the latest version of its spend automation suite this week. Last week, however, Jason Busch, Spend Matters founder and head of strategy, wrote about what the Spend Matters team expected and was hoping for in the 15.3 release in a recent article, "SciQuest Reverses Course – Taking Rising Stock of the 'Anti-Coupa.'"

SciQuest has already done a lot in 2015, and the new release will likely give the provider a “boost” going into 2016, Jason said. SciQuest has also been reporting strong revenue, and investors are taking note.

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It’s nice to see a vendor besides Coupa generating interest from Wall Street, Jason continued, and it’s also a good thing for procurement, as it can lead to more investments and innovation within the sector as a whole.

In case you missed the article last week, here is just one snippet:

“SciQuest is looking more like the ‘anti-Coupa,’ a procurement suite provider with capability and strengths that are approaching the market from the exact opposite perspective — significant depth of non-P2P capabilities and a focus on enabling highly complex buy configurations — of the fastest growing suite vendor today.”

Spend Matters is looking forward to hearing more about the 15.3 release and seeing it in action. We gained some insight from SciQuest on Wednesday, when the provider announced the latest addition to its suite. We plan to get a better picture of what the latest additions mean for procurement soon. Yet already we can see SciQuest being ideal for manufacturers specifically looking for new or replacement solutions.

“No doubt 2016 will be a critical year for SciQuest, as it attempts to build critical mass in new markets while perhaps quietly branding itself as the go-to ‘anti-Coupa’ provider for those that want to embrace complex environments and complex non-P2P requirements that are fully integrated with transactional purchasing,” Jason wrote in last week’s article. “We believe the manufacturing sector beckons, among others. But regardless, it will be fascinating to see SciQuest go head-to-head against SAP/Ariba, Ivalua, BuyerQuest and others that are perhaps best known for being able to embrace procurement complexity.”

Check out the full article here.

Please follow Kaitlyn McAvoy on Twitter @KMcAvoySM

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