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New eProcurement Option for Mid-Sized Higher Education Institutions

SciQuest, a market leader in eProcurement solutions for higher education, has announced the availability of HigherMarkets Express for Banner. The eProcurement suite has similar functionality to HigherMarkets for Banner, and it integrates with SunGard Higher Education’s Banner Finance to provide a new alternative to a significant market segment that has traditionally not afforded strategic eProcurement: mid-sized colleges, universities, and community colleges. The institutions can now leverage their existing Banner Finance systems to enter into new eProcurement strategies.

eProcurement solutions are generally not pre-configured to integrate with enterprise resource planning (ERP) systems, but SciQuest is emphasizing with the announcement that HigherMarkets Express offers a turnkey, seamless integration with Banner Finance.

“It has never been more important for mid-sized institutions to put the systems in place required to proactively engage in any and all opportunities to extend the value of existing resources,” says Betty Roberts, vice president of administration and finance at the University of Central Missouri. “Mid-size colleges and universities, like large institutions, need cost-effective and easy-to-use business systems to gain visibility over spending on goods and services, put strategic sourcing agreements in place, drive contract compliance, and bring procurement to the desktop.”

eProcurement systems like HigherMarkets allow institutions to turn traditional procurement processes into a source of savings and efficiencies, and integrate with financial systems to gain visibility over spending. At scale, eProcurement strategies can be considered important revenue-generating systems for the institution.

“Through SciQuest and SunGard Higher Education, we are able to put proven user-friendly purchasing tools directly into the hands of every requisitioner within the college,” says Tom Fogarty, executive director, procurement and business services, at HACC--Central Pennsylvania’s Community College. “If you can purchase the same goods and services for less through strategic procurement systems and sourcing techniques, the savings quickly add up to significantly impact the bottom line.”

SciQuest has developed an info page at to accompany their announcement.

 

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