SciQuest Wins PayStream Advisors’ Excellence Award

SciQuest, Inc., (NASDAQ: SQI) a leading provider of on-demand source-to-settle solutions, today announced that the company received a PayStream Advisors’ Excellence Award in recognition of its work in the healthcare industry. PayStream Advisors spotlighted SciQuest’s Spend Director Enterprise solution in the Technology Innovation in Healthcare Procure-to-Pay Automation category for its ability to streamline the purchasing process with on-contract vendors, reducing overall spend for customers. SciQuest was honored with the award at the PayStream Advisors’ Summit luncheon on September 18.

“The PayStream Advisors’ Excellence Awards recognize organizations that have demonstrated excellence and innovation in their purchase-to-pay processes and the technology providers that offer best-of-breed solutions,” said Henry Ijams, managing director, PayStream Advisors. “SciQuest’s Spend Director Enterprise solution delivers the superior levels of innovation and bottom-line results that we look for in our Excellence Award winners. We are proud to honor SciQuest with the award in this year’s Technology Innovation in Healthcare Procure-to-Pay Automation category.”

SciQuest Spend Director Enterprise is a private, one-stop eMarketplace that enables users to shop for products from preferred suppliers, enforcing contract compliance at the point of requisitioning. By seamlessly integrating item master content and the contract repository into the eMarketplace, SciQuest Spend Director greatly enhances product details at the time of purchase. In addition, a robust search engine, coupled with SciQuest’s supplier enablement services, creates a shopping experience designed for ease of use for the shopper, allowing them to efficiently purchase goods and services critical to the success of their organization.

“The healthcare market is constantly striving to reduce spending while improving patient care,” said Jason Liner, product marketing director, SciQuest. “SciQuest’s eProcurement, contract management and accounts payable solutions help leading organizations, including Resource Optimization and Innovation (ROi), Sisters of Mercy Health System, gain more control over spending to reduce costs and improve operational efficiency. We are honored that our ongoing innovation and commitment to this market has been recognized with a PayStream Advisors’ Excellence Award.”

About SciQuest

SciQuest’s (NASDAQ: SQI) easy to use solutions help contract management, procurement, and accounts payable professionals make daily operations efficient through smart automation, and turn the focus on more strategic decisions that impact the bottom line. 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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