Science & Technology
Science and Technology
Science and Technology
Thu, November 11, 2010
Wed, November 10, 2010 
CARY, N.C.--([ BUSINESS WIRE ])--[ SciQuest, Inc ]. (NASDAQ: SQI), a leading provider of on-demand [ strategic procurement ] and [ supplier enablement ] solutions, today announced that the [ University of St. Thomas ], based in the Twin Cities of St. Paul and Minneapolis, will deploy SciQuest in its procurement and accounts payable operations.
"The University of St. Thomas should be applauded for being a leader among the mid-sized universities taking proactive steps to eliminate costly administrative tasks that no longer deliver value and for utilizing technology to take a strategic approach to procurement that drives savings to the bottom line"
The University of St. Thomas serves approximately 11,000 students and offers bachelora™s degrees in 85 fields of study and more than 45 graduate degree programs. The university operates four main campuses, including the [ Bernardi Campus ] in Rome, Italy and three locations in Minnesota a" [ St. Paul ], [ Minneapolis ] and [ Owatonna ].
aThis investment will help to free our faculty and staff from some of the administrative tasks typically associated with purchasing,a said Karen Harthorn, director of purchasing & payables at the University of St. Thomas. aAutomation will also help to streamline our accounts payable operation and eliminate manual paperwork. Most importantly, purchasing services will be able to more effectively aggregate the universitya™s purchasing power in return for better contract terms and conditions from suppliers a" savings that ultimately can be applied to high-value activities that directly impact our mission.a
The University of St. Thomas will use SciQuesta™s integration with their existing financial system, SunGard Higher Educationa™s [ Banner Finance ]. With integration jointly designed and developed with SunGard Higher Education, SciQuesta™s 2010 Partner of the Year, the University can put a strategic procurement operation in place and extend the value of its existing finance system investment. The resulting solution gives users a more comprehensive financial picture that includes real-time visibility into purchases and payments.
aThe University of St. Thomas should be applauded for being a leader among the mid-sized universities taking proactive steps to eliminate costly administrative tasks that no longer deliver value and for utilizing technology to take a strategic approach to procurement that drives savings to the bottom line,a said Julie Hepner, market director of higher education at SciQuest.
aThrough our Open Digital Campus strategy, we are working to help our customers overcome real-world business challenges by providing more flexible options,a said [ Dave Becker ], vice president of product management and strategy, finance and HR at [ SunGard Higher Education ]. aOur relationship with SciQuest is a great example of how this can benefit procurement specifically. Financial staff can extend their existing capabilities to gain a complete understanding of how an institutiona™s funds are being used in a wide range of capacities, including the purchase of goods and services by faculty and other staff. The resulting complete and accurate financial picture can be very helpful.a
Offering users an intuitive online shopping environment similar to that enjoyed by consumers on popular e-commerce sites, SciQuest automates the manual administrative processes associated with purchasing and accounts payable, including requisitions and invoices.
About SciQuest
SciQuest provides a leading on-demand strategic procurement and supplier enablement solution that integrates customers with their suppliers to improve procurement of indirect goods and services. Our on-demand software enables organizations to realize the benefits of strategic procurement by identifying and establishing contracts with preferred suppliers, driving spend to those contracts and promoting process efficiencies through electronic transactions. Using our managed SciQuest Supplier Network, our customers do business with more than 30,000 unique suppliers and spend billions of dollars annually.
Our current target markets are higher education, life sciences, healthcare and state and local governments. We tailor our solution for each of the vertical markets we serve by offering industry-specific functionality, content and supplier connections. We serve more than 165 customers operating in 16 countries and offer our solution in five languages and 22 currencies.
SciQuest is a registered trademark of SciQuest, Inc. Other trademarks contained herein remain the property of their respective owners.
For more information about SciQuest, please visit [ www.sciQuest.com ] or call 888-638-7322 in the U.S. or +44 1794 341182 in Europe.
Trademark Information: SunGard, the SunGard logo, Banner and Open Digital Campus are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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.
