SciQuest Delivers Next Level Of Spend Automation

SciQuest, Inc. (NASDAQ:SQI), the largest pure-play provider of cloud-based business automation solutions for spend management, today announced the next release of its spend management suite at NextLevel 2014. With major enhancements to supplier on-boarding and management, advanced sourcing, chemical inventory management and reporting the new release demonstrates the company’s ongoing commitment to integrate newly acquired products into the suite while continuing to invest in existing product enhancements to meet customer needs.

As part of the new release, SciQuest’s next-generation Total Supplier Manager solution will be fully integrated into the source-to-settle suite, allowing users to manage supplier data and automate supplier registration from a single, easy-to-use portal. With the next-generation On-Boarding module, SciQuest users will now be able to automate supplier onboarding by collecting critical Accounts Payable, tax, insurance and diversity documentation while syncing supplier data with ERP systems.

“Over the past few years, we’ve made significant advances in broadening our set of spend management solutions and executing on a customer-driven vision for spend management,” said Mark Digman, Vice President, Product Marketing and Strategy at SciQuest. “With each release, we’re making important strides toward fulfilling that vision. We are improving the breadth and depth of our solutions while providing seamless workflow and a rich customer experience. We look forward to giving our customers a sneak peak of this latest release at NextLevel, and will continue to listen to their valuable feedback as our solutions evolve.”

The new release also includes enhancements to SciQuest’s Advanced Sourcing Optimizer, with new capabilities that increase the ways in which sourcing teams can model price and non-price information when analyzing sourcing decisions. As a result, users can increase their spend under management and make better sourcing decisions by better understanding the information collected from suppliers and the impact of their decisions on their business.

SciQuest’s leading chemical inventory management solution, Enterprise Reagent Manager (ERM), is now available as a single-tenant software-as-a-service (SaaS) solution. In the single-tenant SaaS offering, customers can manage the procurement and inventory of regulated chemicals, laboratory supplies and research materials in a secure environment without costly infrastructure requirements. Enterprise Reagent Manager now provides cost savings and regulatory compliance in both the on-premise and in a single-tenant SaaS environment for customers in pharmaceuticals, chemical manufacturing, higher education and other research environments.

Further enhancements to eProcurement and Accounts Payable reporting round out the release, providing users with more visibility and insight into their spending, right from their main shopping pages. SciQuest will be demonstrating the latest release this week at NextLevel 2014, the premier event in the procurement industry. For more information on NextLevel 2014, please visit http://nextlevel.sciquest.com/.

About SciQuest

SciQuest (NASDAQ:SQI) is the largest publicly held pure-play provider of cloud-based business automation solutions for spend management – offering deep domain knowledge and a leading, customer-driven portfolio. 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. Learn more about our solutions and how we can help your organization turn spending into savings at www.sciquest.com.

To join the conversation, please visit our blog, The Open Kitchen at 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 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 are discussed in “Part I, Item 1A, Risk Factors” and elsewhere in SciQuest’s most recent Annual Report on Form 10-K and other reports, as filed with the United States Securities and Exchange Commission (“SEC”). The company’s SEC reports are available free of charge on the SEC's website at http://www.sec.gov or on the company’s website at www.sciquest.com. These forward-looking statements speak only as of the date hereof, and SciQuest undertakes no obligation to update, amend or clarify any forward-looking statement for any reason. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

Copyright Business Wire 2010

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