SciQuest (NASDAQ: SQI), a leading provider of on-demand strategic procurement and supplier management solutions, congratulates long-time customer University of California, San Diego, on being recognized by Supply & Demand Chain Executive. Ted Johnson, chief procurement officer at the University, has been named the publication’s Practitioner Pro of the Year. Johnson is being recognized for his efforts to streamline UC San Diego’s purchasing and procurement processes. Supply & Demand Chain Executive, the executive's user manual for successful supply and demand chain transformation, also named Jason Liner, healthcare market director and manager of Supplier Strategies & Solutions at SciQuest, as a Supply & Demand Chain Executive 2012 “Pro to Know.” The publication’s “Pros to Know” is an exclusive listing of individuals who are leading initiatives to help prepare their companies' supply chains for the significant challenges ahead. The introduction of an eProcurement platform powered by SciQuest enabled Johnson and his team to create the first purchasing consortium of its kind in higher education. UC San Diego spearheaded an initiative among multiple universities to use SciQuest as a common purchasing platform across several campuses. In addition, Johnson was able to gain greater visibility into spending and increase overall efficiency at UC San Diego. For example, the amount of time to process orders was reduced significantly – 94 percent of all purchase orders are now finalized within one business day. “Establishing the new multi-college purchasing consortium was a team effort that involved the entire purchasing department and the support of the University of California’s Office of the President,” Johnson said. “Working with SciQuest, we have been able to implement a robust platform, turning spending into a source of savings and delivering valuable insights to our staff and faculty on ways to maximize our existing resources and make purchasing more strategic.”
“Faced with stiff budget cuts and reduced funding, higher education institutions like the University of California are striving to provide an optimal learning environment with fewer resources,” said Max Leisten, market director for higher education, SciQuest. “Ted and his team took on an ambitious effort to transform procurement at UC San Diego, providing a model on how procurement can assume a greater leadership role, helping universities thrive even in challenging economic times.”SciQuest’s Jason Liner was recognized for his work keeping SciQuest’s supplier community abreast of product developments and key issues facing customers. SciQuest routinely provides educational resources such as webinars to help suppliers gain the maximum value from their participation in the company’s supplier network. SciQuest also received a 96 percent satisfaction rate for the support that it provides to the suppliers in the network. “The men and women included in the 2012 Pros to Know exemplify the talent, knowledge, skills and effort necessary for supply chain leadership,” said Barry Hochfelder, editor of Supply & Demand Chain Executive. “They are an elite group leading the industry and their own enterprises into the evolving future.” The full listing of the 2012 “Pros to Know” will be available in the February/March 2012 issue of Supply & Demand Chain Executive magazine, via an e-book in early March and on the Supply & Demand Chain Executive website at http://www.sdcexec.com/. About Supply & Demand Chain Executive Supply & Demand Chain Executive is the executive's user manual for successful supply and demand chain transformation, utilizing hard-hitting analysis, viewpoints and unbiased case studies to steer executives and supply management professionals through the complicated, yet critical, world of supply and demand chain enablement to gain competitive advantage. Supply & Demand Chain Executive is a publication of Cygnus Business Media. On the Web at www.SDCExec.com and on smartphones and tablets at www.SDCExec.com/mobile. About Cygnus Business Media Cygnus Business Media reaches millions of professionals annually. As one of America's top business-to-business media companies, Cygnus is leading the way in providing targeted content to top decision-makers and organizations. The company's corporate initiatives and organizational architecture are built with one goal: fully engaging audiences in Aviation, Building & Construction, Public Safety & Security, Agriculture vertical markets and a variety of other industries. For more information, visit www.cygnusb2b.com. 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. 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.