SciQuest, Inc., (NASDAQ: SQI) a provider of cloud-based spend management solutions, today announced that The University of Montana has selected SciQuest’s Accounts Payable solution to further streamline its overall procure-to-pay processes while increasing efficiencies across the entire network. The University of Montana is a leading public research university located in Missoula, Montana serving 15,642 undergraduates and 2,065 graduate students. The University’s current electronic procurement system – GrizMart, which enables campus faculty and staff to easily search and shop online for products and services – is powered by SciQuest. With SciQuest’s Accounts Payable solution, the University of Montana will be able to automate its accounts payable processes, eliminating tedious manual tasks while gaining valuable insights throughout the procure-to-pay process. “Since unveiling GrizMart, we’ve been able to streamline the order creation process and promote strategic supplier relationships, increasing overall costs savings and contract compliance,” said Ian Robbins, director of Procurement Services, The University of Montana. “With the addition of SciQuest’s Accounts Payable solution, we will be able to achieve additional efficiencies and automate manual tasks, freeing our staff to focus on more strategic objectives.” SciQuest’s spend management solutions enable colleges and universities of all sizes to automate and manage every aspect of the procure-to-pay process, including sourcing, shopping, requisitioning and accounts payable. With SciQuest’s Accounts Payable offering, institutions are able to eliminate formerly manual processes for receiving, managing and paying invoices. As a result, organizations are able to reduce invoice processing errors, costs and cycle times; eliminate late payment penalties, duplicate payments or overpayments; and capture prompt payment discounts. “Accounts payable has traditionally been a cumbersome, time-consuming process creating inefficiencies that slow down the entire procurement cycle,” said John Fabris, vice president of higher education sales at SciQuest. “Higher education organizations must be able to maximize their existing resources and streamline labor-intensive processes. With its Accounts Payable and full suite of cloud-based business automation solutions, SciQuest is empowering higher education institutions like The University of Montana to turn spending into a source of savings.”
About SciQuestSciQuest’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 spend management, 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.