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SciQuest Upgrades Spend Automation Solution Suite by Improving Supplier Collaboration, Providing Greater Visibility into Procurement Activities, and Introducing Redesigned E-sourcing Product

July 21, 2014

CARY, N.C.--(BUSINESS WIRE)-- SciQuest, Inc. (NASDAQ: SQI), a leading provider of cloud-based business automation solutions for spend management, today announced the new version of its award-winning spend automation suite. Building on the company’s commitment to comprehensive, easy-to-use solutions for improving the source-to-pay cycle, this release enables customers to expand collaboration with suppliers while extending visibility further into procurement activities, ultimately helping customers to turn spending into a strategic source of savings.

SciQuest’s spend automation solutions span the entire source-to-settle process, helping organizations manage spending, suppliers, contracts, sourcing, shopping, inventory, and accounts payable more efficiently. The latest version of the suite includes the company’s completely redesigned Sourcing Director product. Developed to provide an intuitive and efficient user experience for professional buyers and casual users alike, the next-generation Sourcing Director product delivers a centrally-managed e-sourcing solution for automating the entire sourcing cycle, from event creation to supplier evaluation and awarding. Deep integration with other SciQuest products, including Total Supplier Manager, enables buyers to further increase their efficiency, while allowing suppliers to manage their profiles and responses to sourcing opportunities from a central location.

"SciQuest’s ability to automate processes like supplier management and purchasing have enabled us to reduce costs, improve efficiency and gain a higher level of transparency into organization-wide spending processes," said Karmen Milton, Assistant Director of Purchasing at Georgia State University. "We are continually impressed by the level of commitment SciQuest demonstrates to delivering customer-driven enhancements."

The remainder of the upgraded suite delivers significant new or improved capabilities, including:

  • Salesforce.com ™ integration and enhanced ease-of-use designed to accelerate and simplify organization adoption for contract lifecycle management;
  • Accelerated and improved invoice routing and management, with significant enhancements to the supplier portal and new capabilities for handling disputed invoices;
  • Improved user experience and reporting enhancements to the Enterprise Reagent Manager solution, which supports procurement, tracking, inventory management and safety compliance of research materials and chemicals;
  • A new reporting add-on module for extending supplier management capabilities with a focus on usability and setting/tracking against goals.

    "We are committed to developing a customer-driven, best-in-class suite of spend management applications that help customers achieve greater visibility and compliance organization-wide to gain control, optimize efficiencies, and reduce spend," said Mark Digman, Vice President, Product Marketing and Strategy for SciQuest. "This combination of depth, breadth and integration is unique in its ability to enable customers to leverage their supplier, sourcing, contracting, procurement and invoicing strategies to drive further value for their organizations."

    The new version of SciQuest’s spend management suite is available immediately. For more information, please visit www.SciQuest.com.

    About SciQuest

    SciQuest (NASDAQ: SQI) is the largest publicly held pure-play provider of cloud-based business automation solutions for spend management – offering deep domain knowledge and a leading, customer-driven portfolio. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies and reduce spend. These cloud-based solutions are easier to implement and proven to deliver measurable, sustainable value with SciQuest’s high-touch support, analysis and automation. Learn more about our solutions and how we can help your organization turn spending into savings at www.sciquest.com.

    To join the conversation, please visit our blog, The Open Kitchen at http://www.sciquest.com/blog – or follow us on Twitter @SciQuest.

    Cautionary Note Regarding Forward-Looking Statements

    Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks are discussed in “Part I, Item 1A, Risk Factors” and elsewhere in SciQuest’s most recent Annual Report on Form 10-K and other reports, as filed with the United States Securities and Exchange Commission (“SEC”). The company’s SEC reports are available free of charge on the SEC's website at http://www.sec.gov or on the company’s website at www.sciquest.com. These forward-looking statements speak only as of the date hereof, and SciQuest undertakes no obligation to update, amend or clarify any forward-looking statement for any reason. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.




    SciQuest Media contact:

    SciQuest, Inc.

    Roberta Patterson, 919-659-2230

    rpatterson@sciquest.com

    or

    fama PR for SciQuest

    Dan Gaffney, 617-986-5036

    sciquest@famapr.com

    or

    SciQuest Investor contact:

    SciQuest, Inc.

    Jamie Andelman, 919-659-2322

    jandelman@sciquest.com


    Source: SciQuest, Inc.


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