SciQuest Inc. has developed a methodology for improving the procurement processes of companies in the life sciences sector. The new service, known as the Procurement Business Assessment (PBA), is intended to help users discover cost-saving opportunities in their procurement operations. It enables organizations to measure, envision and plan a road map to procurement improvements. The methodology can identify where money is being lost in the procurement processes, how the procurement operation can speed up and support research and development efforts, what steps the operation can immediately undertake during a major business event, and how procurement can increase the value of existing information systems for the entire company. SciQuest serves eight of the 10 largest pharmaceutical companies with on-demand procurement and supplier-integration technologies and services. Customers also include research-oriented entities in the life sciences, biotechnology and healthcare services sectors.
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