SciQuest (NASDAQ: SQI), a leading provider of cloud-based business automation solutions for spend management, today announced that the company has been positioned by Gartner, Inc. in the “Visionaries” quadrant of its “Magic Quadrant for Strategic Sourcing Application Suites.” 1 The report, published on July 1, evaluates vendor offerings related to spend analysis, e-sourcing, contract management and supply base management. Additional criteria for evaluation in the Magic Quadrant included ease of use, technology platform and business services. According to the report, “Strategic sourcing application suite vendors in the Visionaries quadrant are ahead of most of the competition in delivering innovative products and services. They harness the power of the Nexus of Forces— mobile, social, cloud and big data — to create unique solutions, and they anticipate emerging/changing market needs.” “We believe our position as visionaries in Gartner’s Magic Quadrant for Strategic Sourcing confirms our progress and validates our long-term commitment and investment to not only provide market-leading eProcurement and AP capabilities, but provide a modular suite of spend management capabilities supporting the entire Source to Settle process including Spend Analysis, Contract Management and Sourcing,” said Mark Digman, vice president, product marketing and strategy at SciQuest. “The feedback we’ve received from customers has been overwhelmingly positive.” About SciQuest With a reputation for deep domain knowledge, a solid customer-driven portfolio, and industry-leading customer satisfaction, SciQuest (NASDAQ: SQI) is the largest public provider of cloud-based business automation solutions for spend management that turn spending into savings. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies, and reduce spend. These cloud-based solutions are easier to implement and proven to deliver measurable, sustainable value with SciQuest’s high-touch support, analysis and automation. To join the conversation, please visit our blog, The Open Kitchen – or follow us on Twitter @SciQuest. About Gartner’s Magic Quadrant: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Cautionary Note Regarding Forward-Looking StatementsAny 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 most recent Annual Report on Form 10-K 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. 1 Gartner “Magic Quadrant for Strategic Sourcing Application Suites” by Deborah Wilson, Magnus Bergfors, Richard Adams, July 1, 2013.