Sunoco LP Streamlines Its Source-to-Settle Process
DALLAS — Sunoco LP will deploy SciQuest’s source-to-settle technology suite to replace its current procurement tools and redefine its sourcing process.
According to SciQuest, Sunoco recognized the need to evaluate its source-to-settle process to reduce spend and gain efficiency throughout the company. The master limited partnership (MLP) and convenience store retailer determined there was an opportunity to standardize onboard, buy, pay and source functions under a single platform to help gain efficiencies in the organization.
Dallas-based Sunoco will deploy SciQuest’s entire suite of solutions, including:
- Spend Radar to conduct the comprehensive, accurate analysis necessary to drive and measure cost savings;
- 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; and
- Accounts Payable Director to eliminate tedious and error-prone manual processes, free up valuable resources and present an opportunity to make a significant impact on 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.”
Morrisville, N.C.-based SciQuest is a provider of spend management solutions.
Sunoco LP operates more than 850 convenience stores under the Sunoco, APlus, Stripes, Mid-Atlantic Convenience Stores and Aloha Petroleum brand names.