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Colleges and Universities Increase Their Use of SciQuest

^{Published on 2010-11-16 09:10:36 - Market Wire}
 

CARY, N.C.--([ BUSINESS WIRE ])--[ SciQuest, Inc ]., (NASDAQ: SQI) a leading provider of on-demand [ strategic procurement ] and [ supplier enablement ] solutions, today announced several notable subscription renewals and expanded engagements with some of the nationa™s best known colleges and universities.

"Virginia Tech recently renewed its five-year license with SciQuest and we are very pleased to have done so"

SciQuesta™s customer base includes many well-known healthcare, higher education, life sciences and public-sector organizations. Some of the many higher education institutions that renewed their multi-year licenses for SciQuest to date in 2010 include [ Colorado State University ], [ East Carolina University ], [ Emory University ], [ New York University ], [ the South Dakota Board of Regents ], [ the University of Illinois ], [ the University of Texas Medical Branch (UTMB) at Galveston, ] and [ Virginia Polytechnic Institute and State University (Virginia Tech) ].

aVirginia Tech recently renewed its five-year license with SciQuest and we are very pleased to have done so,a said [ Tom Kaloupek ], Virginia Techa™s director of materials management. aOur SciQuest marketplace is mature and continues to exceed our expectations for ease of processing, reliability and flexibility. The SciQuest team remains just as focused on their high standard of responsiveness and customer service as they did when we were a prospective customer. We look forward to a continued close and strong relationship.a

Numerous institutions also expanded their engagements with SciQuest, which offers a modular solutions suite that makes it easy for colleges and universities to address all facets of the complete procure-to-pay process at their own pace.

SciQuest offers a number of programs and services to help customers achieve optimal results, including the Client Partner Program, a service that provides customers with long-term support in their efforts to realize procurementa™s full potential to drive bottom-line results. Initially, SciQuest Client Partners work directly with the customers to ensure that their deployment of the companya™s solutions is as fast and easy as possible. These experts continue to work with customers throughout their engagement to gauge their success, provide strategic guidance, and ensure that SciQuesta™s solutions achieve the maximum return on investment.

aWe have always gauged our success not on the number of colleges and universities who join our growing customer base, but on the number of organizations that deepen and expand their relationships with us,a said Julie Hepner, higher education market director at SciQuest. aThe extensive role we play in helping some of the nationa™s best known colleges and universities save money and work more efficiently is a direct reflection of our steadfast commitment to provide the proven technologies, product innovations and service our customers need to overcome real-world business challenges.a

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 175 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.

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.