HOUSTON -- Convenience-store and fuel distribution company Sunoco LP will deploy SciQuest Inc.’s source-to-settle suite to replace its current procurement tools and redefine its sourcing process.
Morrisville, N.C.-based SciQuest is a provider of cloud-based business automation solutions for spend management.
Sunoco, which has recently completed a series of acquisitions, recognized the need to evaluate its source-to-settle process to reduce spend and gain efficiency throughout the organization. During this evaluation, it determined that there was an opportunity to standardize onboard, buy, pay and source functions under a single platform to help gain efficiencies in the organization. It selected SciQuest after a formal strategic sourcing process.
Sunoco will deploy the full SciQuest suite of solutions, including:
- Spend Radar to conduct the comprehensive, accurate analysis necessary to drive and measure cost saving.
- Sourcing Director to expand control and management of the sourcing process.
- Total Supplier Manager to achieve a reduction in risk exposure brought by suppliers, a greater depth of and visibility into supplier data, and consistent and accurate supplier data for supporting sourcing and procurement strategies.
- Total Contract Manager to enable optimization and visibility of the entire contract lifecycle, using a single repository for all vendor contracts.
- Spend Director to transform a manual and labor-intensive procurement process into a center of excellence, delivering significant cost savings and efficiencies and automate the procure-to-pay process.
- Accounts Payable Director to eliminate tedious and error-prone manual processes, free up resources and present an opportunity to make a significant impact to the organization’s bottom line.
“Sunoco is at the cutting-edge of many companies today because it views procurement as a strategic imperative that will help the organization grow in the coming years,” said Stephen Wiehe, president and CEO of SciQuest. “The company will not only gain greater insight into the impact of its current spend, but it will also be able to use this detailed information to help make strategic decisions about how to grow and expand.”
SciQuest’s cloud-based, mobile-enabled, source-to-settle platform addresses all stages of procurement from the automation of core processes to enabling strategic sourcing solutions.
Houston-based Sunoco LP is a master limited partnership (MLP) that operates more than 850 convenience stores and retail fuel sites and distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors located in 30 states at approximately 6,800 sites, both directly as well as through its 31.58% interest in Sunoco LLC, in partnership with an affiliate of Energy Transfer Partners LP (ETP). Sunoc LP’s general partner is owned by Energy Transfer Equity LP.
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