SOURCE: Transcepta LLC

Transcepta LLC

March 11, 2015 06:00 ET

Transcepta Announces Strategic Partnership With SciQuest

ALISO VIEJO, CA--(Marketwired - March 11, 2015) - In continued efforts to bring cutting-edge e-invoicing and supplier connectivity to its customers, Transcepta announced a strategic partnership with SciQuest (NASDAQ: SQI). The announcement is another milestone in Transcepta's ongoing quest to facilitate smooth transactions between buyers and suppliers.

Transcepta is the leading innovator of the cloud based e-invoicing, AP automation, and procure-to-pay (P2P) solutions that make supplier collaboration possible. The company aims to connect all of a customer's vendors electronically, by offering unique connection options designed to be easier and more cost effective than traditional methods.

SciQuest users can now take advantage of pre-integration to send purchase orders from Spend Director and receive validated invoices into Accounts Payable Director. Transcepta also handles exceptions back to the supplier, and provides support to suppliers related to invoice and other transactions. The net results are 100% accurate e-invoices routed to SciQuest AP Director, and a marked reduction in invoice exceptions.

"Despite the demand for fully electronic invoice capture, many customers, particularly international organizations, are still using manual and time-consuming processes for different file formats," said Eric Zoetmulder, Vice President - Product Management at SciQuest. "This partnership with Transcepta strengthens our invoice capture capabilities and will allow us to support customers across the globe at whatever level of automation they want. We will continue to listen to our customers as SciQuest maintains its commitment to delivering the most comprehensive suite of spend management solutions on the market."

"Our e-invoicing and Supplier Enablement solution helps organizations achieve true AP automation, leading to lower costs and more control over cash flow," said Mitch Baxter, Vice President of Business Development at Transcepta. "We look forward to working with SciQuest to extend these capabilities to their global customer base."

Supplier Participation is Crucial

Because supplier adoption is a necessary component of successful digital invoicing projects, Transcepta has developed the industry-leading technology and approach to supplier enablement (www.transcepta.com/supplier-enablement/). To maximize adoption, Transcepta manages the entire onboarding process for its customers. As part of this service, Transcepta notifies each supplier of the e-invoicing initiative and works with them to determine the submission method that would best serve their business requirements.

For each digital invoice submission option, setup is completed quickly and suppliers are able to send e-invoices directly from their existing billing system for guaranteed, secure delivery to SciQuest. Further, suppliers do not pay any setup or implementation fees and Transcepta does not require participation from supplier IT resources. Finally, suppliers never pay "percent of transaction" fees, like some other networks require.

Other Supply Chain Programs

The Transcepta Supplier Network also offers SciQuest users significantly improved cash flow through trade finance solutions such as dynamic discounting and supply chain financing. Increased participation, especially amongst small to mid-sized suppliers, will greatly improve the payables process for buyers and suppliers by removing conflicting priorities and improving supply chain stability. 

To learn more about Transcepta, please visit booth #403 at the SciQuest NextLevel Conference, March 12-15 at the Gaylord National Resort and Convention Center in Washington, D.C.

© 2015 Transcepta LLC. All rights reserved.

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