SciQuest Launches Newest Version Of EProcurement Platform

SciQuest, Inc., (NASDAQ: SQI) a provider of on-demand source-to-settle solutions, today announced an enhanced version of its eProcurement solution suite that features an improved shopping experience, more robust reporting functionality and streamlined purchasing processes. SciQuest’s comprehensive, SaaS-based source-to-settle platform enables organizations to focus on strategic purchasing while increasing efficiencies and cost savings.

The latest version of the SciQuest platform boasts a number of customer-driven features designed to make it easier for organizations to process and approve purchase orders and payments. For instance, improved searching capabilities help organizations find and access past purchase orders, invoices and other essential materials more quickly. Additionally, the order and payments approvals process has been streamlined, allowing organizations to process orders and invoices more efficiently.

Additional platform highlights include:
  • Improved shopping experience—New features geared toward improving communication between shoppers and users. For example, the system will offer recommendations based on previous shopping patterns.
  • Greater visibility—Enhanced reporting functionality provides users with deeper insights into the estimated duration of each step in the source-to-settle process. Comprehensive reports help organizations better understand the overall purchasing cycle, identify areas for improvement and determine how many orders are being processed electronically versus manually.
  • Spotlight suppliers—Setting up a supplier showcase is now more convenient with organizations able to highlight suppliers, further driving more responsible spending.

“Our customers are looking to achieve even greater savings throughout their entire organizations. SciQuest’s comprehensive source-to-settle platform features deeper reporting capabilities and enhances our user-friendly environment, expanding the knowledge and insights that turn spending into a source of savings,” said Gamble Heffernan, senior vice president of strategy and marketing, SciQuest. “We work closely with our customers to ensure they are armed with the innovative tools required to succeed in a rapidly changing purchasing environment. The product feedback and comments provided by our customer base are key drivers of our product innovation, as we strive to answer ‘what is the problem our customer is trying to solve?’”

Customer feedback plays a critical role in SciQuest product development. With SciQuest’s Idea Forum, customers can recommend new features and/or provide feedback on existing functionalities. SciQuest invites its customers to vote on the new features they would like to see incorporated into upcoming product releases. The company also provides feedback on product development and the status of requested features on a regular basis.

For additional information on 12.2, please visit SciQuest’s blog, Open Kitchen.

About SciQuest

SciQuest (NASDAQ: SQI) provides organizations with a comprehensive suite of on-demand source-to-settle software solutions, driving cost and efficiency savings across the supply chain. By improving supplier management, negotiating more strategic contracts, generating an online marketplace for purchasing goods and services, and streamlining the accounts payable process, SciQuest customers turn spending into a source of savings.

With unmatched visibility into spending, combined with the Power of Q — the Company’s unique combination of products and support — SciQuest provides organizations with a strategic approach to procurement, improving bottom-line results.

To join the conversation, please visit our blog, The Open Kitchen — 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 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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