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University Of Minnesota Goes Live With SciQuest Solutions For EProcurement And Accounts Payable

SciQuest (NASDAQ: SQI), a leading provider of cloud-based business automation solutions for spend management, today announced that the University of Minnesota has gone live with SciQuest Spend Director Enterprise and Accounts Payable Director solutions. The University of Minnesota sought solutions to automate many of its spending processes while enabling electronic invoicing for every vendor in its marketplace.

To achieve this goal, the University looked for best-in-class eProcurement software to be used by departments when making purchases from within the University, as well as with outside vendors. Several months ago, the University selected SciQuest as the vendor to meet these requirements, replacing purchasing tools that had been developed internally.

“The University of Minnesota is dedicated to working smarter and reducing costs while continuing our tradition of excellence in education, so we have extremely high expectations and requirements for our eProcurement system,” said Timothy Bray, purchasing director at the University of Minnesota. “SciQuest met or exceeded those expectations and we are happy to be working with them to help save money and make the procurement function more efficient across the University.”

“The University of Minnesota requested a new eProcurement system to standardize its purchasing process and allow for electronic payment to its vendors,” said John Fabris, vice president of higher education at SciQuest. “We are excited to be partnering with the University of Minnesota to automate its critical business processes and turn spending into a source of strategic savings.”

About SciQuest

With a reputation for deep domain knowledge, a solid customer-driven portfolio, and industry-leading customer satisfaction, SciQuest (NASDAQ: SQI) is the largest public provider of cloud-based business automation solutions for spend management that turn spending into savings. 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.

To join the conversation, please visit our blog, The Open Kitchen – 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 our 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 and uncertainties are described in the “Risk Factors” section of our most recent Annual Report on Form 10-K and other required reports, as filed with the SEC, which are available free of charge on the SEC’s website at http://www.sec.gov or on our website at www.sciquest.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements speak only as of the date hereof, and we undertake no obligation to update, amend or clarify any forward-looking statement for any reason.

Copyright Business Wire 2010

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