JAGGAER, formerly SciQuest, is a provider of cloud-based business automation technology for
Business Spend Management. Its headquarters is in
Morrisville, North Carolina and it has offices around the world. The company's tagline is ''Procurement Simplified.''
Company history
SciQuest was established in 1995 as a
B2B eCommerce exchange.The company went public with an
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
in 1999. In 2001, SciQuest transitioned from a B2B exchange company into
eProcurement software and supplier enablement platforms. SciQuest was taken private in 2004 and continued to move into eProcurement, inventory management and accounts payable automation. SciQuest completed an IPO in September 2010 raising approximately $57 million.
SciQuest, and its 510 person workforce, was taken private in June 2016 as part of a $509 million acquisition by Accel-KKR, a private equity firm headquartered in Menlo Park, CA.
In 2017 SciQuest was rebranded as JAGGAER and announced increased focus on offering a complete, integrated source-to-pay suite. Along with the name change, the company expanded its market focus to manufacturing, healthcare, consumer packaged goods, retail, education, life sciences, logistics and the public sector.
JAGGAER acquired the European direct materials procurement specialist Pool4Tool in June 2017 giving it end-to-end direct as well as indirect materials procurement coverage.
JAGGAER acquired spend management company BravoSolution in 2017, and entered into a joint venture with United Arab Emirates-based Tejari. Gartner, Inc. named JAGGAER (Advantage) highest for Ability to Execute in its 2018 “Magic Quadrant for Strategic Sourcing Application Suites.” JAGGAER was named as a Leader in Gartner, Inc's 2018 “Magic Quadrant for Procure-to-Pay Suites” in early 2018 and again in 2019.
In February 2019 JAGGAER launched JAGGAER ONE, which unifies its full product suite on a single platform.
In 2019 the UK-based private equity firm
Cinven acquired a majority holding in the company. Jim Bureau was subsequently named JAGGAER's Chief Executive Officer. Bureau joined JAGGAER in 2018 and had been responsible for the company's sales and commercial operations. Bureau left the firm in March 2023, and Andy Hovancik was announced as the company's CEO in June.
Product Categories
The JAGGAER ONE platform supports the following products:
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Spend Analytics
*
Category Management
Category management is a retailing and purchasing concept in which the range of products purchased by a business organization or sold by a retailer is broken down into discrete groups of similar or related products; these groups are known as pro ...
*
Supplier Management
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Sourcing
*
Contracts
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to tran ...
*
eProcurement
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Invoicing
An invoice, bill or tab is a commercial document issued by a seller to a buyer relating to a sale transaction and indicating the products, quantities, and agreed-upon prices for products or services the seller had provided the buyer.
Payment t ...
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Inventory Management
Field inventory management commonly known as inventory management is the function of understanding the stock mix of a company and the different demands on that stock. The demands are influenced by both external and internal factors and are balan ...
*
Supply Chain Collaboration In supply chain management, supply chain collaboration is defined as two or more autonomous firms working jointly to plan and execute supply chain operations. It can deliver substantial benefits and advantages to collaborators. It is known as a coop ...
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Quality Management
Quality management ensures that an organization, product or service consistently functions well. It has four main components: quality planning, quality assurance, quality control and quality improvement. Quality management is focused not only ...
Acquisitions
SciQuest acquired the following companies:
* AECsoft - January 2011. Provider of supplier management and sourcing technology.
* Upside Software, Inc. - August 2012. Provider of contract lifecycle management (CLM) solutions.
* Spend Radar, LLC - October 2012, Provider of spend analysis software.
* CombineNet - September 2013, Provider of advanced sourcing software
JAGGAER acquired the following companies:
* POOL4TOOL - June 2017, Provider of direct sourcing and supply chain management software
* BravoSolution - December 2017, Provider of global platform spend management solutions
References
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Application software
Research Triangle
Software companies based in North Carolina
1995 establishments in North Carolina
Software companies established in 1995
Software companies of the United States
Companies formerly listed on the Nasdaq
2010 initial public offerings
2016 mergers and acquisitions