University Business Recognizes SciQuest Customer As A “Model Of Efficiency”

SciQuest (NASDAQ: SQI), a leading provider of on-demand source-to-settle solutions, congratulates its customer The George Washington University on being recognized by University Business magazine’s Models of Efficiency. The program spotlights innovative approaches for streamlining higher education operations through technology or business process improvements. Models of Efficiency is sponsored by Higher One, a technology and payment services company serving higher education.

“Efficient business operations translate into better experiences for students and administrators alike, and the Models of Efficiency program encourages schools to prioritize service,” said Tim Goral, editor-in-chief of University Business. “The George Washington University stands out for developing a very effective solution to a challenging situation.”

The George Washington University implemented the SciQuest centralized purchasing platform, streamlining purchasing processes, enhancing the overall user experience and achieving greater visibility into spending. The system also enables the more efficient processing of purchasing orders. Currently, more than 90 percent of requisition orders can be completed within a day. Since all orders are now handled electronically, the university’s purchasing department has also drastically reduced its paper usage.

“The response to the purchasing platform has been overwhelmingly positive. We continue to see a rise in the number of users and are able to respond to requests and handle purchase orders more effectively,” said Joshua Van Nuys, eProcurement program manager, The George Washington University. “We were impressed with SciQuest’s ease of use and overall functionality. Our SciQuest deployment was essential to becoming a ‘model of efficiency.’”

“Our customers are true innovators, transforming the role of procurement and embracing a more strategic, holistic view of spending,” said Max Leisten, market director, SciQuest. “By centralizing and streamlining the purchasing process, The George Washington University has turned spending into a source of savings while delivering a premium experience for its staff. We congratulate the university on its selection as a Model of Efficiency.”

About University Business

University Business is the leading publication for senior managers at colleges and universities throughout the United States, reaching 48,000 leaders who manage offices such as enrollment, technology, facilities, and academic affairs. More information is available at www.universitybusiness.com.

About Higher One, Inc.

Higher One Holdings, Inc. (NYSE: ONE) is a leading company focused on helping college business offices manage operations and providing enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive Financial Aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases and learn the basics of financial management.

Higher One provides its services to approximately 6.0 million students at distinguished public and private higher education institutions nationwide. More information about Higher One can be found at HigherOne.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.

Copyright Business Wire 2010

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