SciQuest In 2012: Build On 2011’s Industry Recognition And Customer Success

SciQuest, Inc., (NASDAQ: SQI) a leading provider of on-demand strategic procurement and supplier management solutions, today announced that, in 2012, its complete source-to-settle solutions will continue to help customers gain deeper insights into spending, increase savings and form effective, strategic collaborative organizations.

SciQuest will continue its momentum in 2012. Key customer highlights from 2011 include:
  • ROi (Resource Optimization & Innovation), one of the healthcare industry’s leading supply chain management companies and the supply chain arm of Mercy, the eighth largest Catholic health care system in the United States, selected SciQuest solutions to provide an intuitive and comprehensive eCatalog/eMarketplace for ROi’s contract portfolio;
  • Western States Contracting Alliance (WSCA)/NASPO, a multi-state purchasing consortium, selected SciQuest to create an online marketplace to enhance end-user buying activities, increase collaboration between states, improve strategic purchasing and expand overall visibility into spending;
  • The State of Oregon and the State of Colorado chose SciQuest to streamline purchasing and reduce spending;
  • The Methodist Hospital System, which is comprised of a leading academic medical center in the Texas Medical Center and four community hospitals serving the greater Houston area, selected SciQuest eMarketplace technology to automate procurement processes and improve contract compliance;
  • Cuyahoga Community College, Ohio’s oldest and largest public community college, showcases SciQuest’s growing strength in the smaller to mid-tier markets;
  • Stony Brook University is the first SUNY school to deploy the full suite of SciQuest solutions; and
  • Energy Services Company, Cleco, selected SciQuest for procurement and supplier management.

“At SciQuest, we’re committed to helping our customers succeed by helping them identify savings opportunities and facilitate the formation of strategic purchasing consortiums,” said CEO Steve Wiehe. “Our consistently high customer-satisfaction rankings demonstrate that our customers value the insights and support that we provide. We look forward to being a trusted partner to organizations that are focusing on increasing profit margins by reducing expenses and inefficiencies.”

SciQuest also garnered numerous accolades from several leading publications and organizations:

  • Wiehe was named the Ernst & Young Carolinas Entrepreneur of the Year;
  • CFO Rudy Howard was named Triangle Business Journal’s CFO of the Year;
  • Gamble Heffernan, vice president of Marketing and Strategy, was chosen for the Business Leader’s Women Extraordinaire awards; and
  • SciQuest was featured in Triangle Business Journal’s Best Places to Work and Carolina Parenting’s Family Friendly 50.

SciQuest’s customers were also recognized for their achievements. Highlights include:
  • University of California, San Diego, received the National Association of Education Procurement Award of Excellence in Procurement and
  • Arizona State University Won Supply & Demand Chain Executive’s “Green Supply Chain” Award.

In the past year, SciQuest also released three enhanced versions of its source-to-settle suite, enabling organizations to realize greater efficiency improvements and cost savings with the purchase of goods and services.

About SciQuest

SciQuest (NASDAQ: SQI) is a leading provider of an integrated, web-based end-to-end eProcurement solution that enables users to realize significant efficiencies and savings on their purchases of indirect goods and services. SciQuest’s unique industry segment expertise and innovative “source-to-settle” approach to eProcurement enables Fortune 1000 companies and organizations in the higher education, life sciences, healthcare and public sector markets, as well as other industries, to identify savings opportunities they may otherwise have missed, while improving contract management, compliance and supplier management. SciQuest’s solutions help customers turn spending into a source of savings. Join the conversation on our blog, The Open Kitchen— http://www.sciquest.com/blog.

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements, including references to momentum in 2012. 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 Registration Statement on Form S-1 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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