Utah Valley University Adopts New Procurement Software
Utah Valley University, the
largest public university in the state, has begun using a cloud-based procurement software.
The Orem Valley university with nearly 35,000
students joins other members
of the Utah System of Higher Education, like the University of Utah,
Utah State University, Weber State University and Salt Lake Community College, in
using SciQuest's spend management system.
SciQuest's software-as-a-service system
is a collection of cloud-based business automation programs for
managing
spending, suppliers, contracts, sourcing, inventory and accounts
payable, all
intended to give university finance executives a way to identify
potential
savings and to work more efficiently with suppliers.
The
source-to-settlement package has five elements:
University
representatives said they have already added 1,100 active users to the system
and
processed more than $21 million in purchase orders.
"For
more than a decade, SciQuest has partnered with university procurement
teams so
they can attain real-time visibility into spend," said CEO Robert
Bonavito. "We
are driven to make Utah Valley University's procurement processes a
strategic
resource for the university that provides them a centralized source of
truth,
manages compliance and reduces overall spend to drive long-term cost
savings."
About the Author
Michael Hart is a Los Angeles-based freelance writer and the former executive editor of THE Journal.