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SciQuest Unveils Latest Release of its Collaborative Procurement Solution

^{Published on 2011-04-07 16:45:32 - Market Wire}
 

CARY, N.C.--([ BUSINESS WIRE ])--[ SciQuest, Inc. ], (NASDAQ: SQI) a leading provider of on-demand strategic procurement and supplier management solutions, today announced the latest version of the [ SciQuest eProcurement solution ]. SciQuest provides organizations with enhanced buying power and more visibility and control over the entire purchasing process, including industry-leading features for collaborative procurement. The solution drives spend savings, increases on-contract purchasing and improves the efficiency of the buying process.

"In todaya™s procurement landscape, collaboration is not an option but a requirement"

SciQuest provides higher education institutions, group purchasing organizations, states, multi-business unit enterprises and others with the collaborative procurement solutions required to enable efficient and cost-effective purchasing. With unique consortium solutions and other collaborative procurement solutions such as the pCard (purchasing card) Marketplace, organizations can capitalize on increased buying power to obtain the most cost-effective contracts and ensure spending compliance. In addition, the multi-business unit solution enables centralized spending control across enterprise or multi-location organizations.

Highlights of the latest version of SciQuesta™s eProcurement solution include:

• pCard Marketplacea"Group purchasing organizations, states or other sourcing enterprises can open their library of contracts to their general membership for simple, Internet-based shopping in the SciQuest pCard Marketplace. Once approved, members can use their credit card to buy from the best group contracts, helping ensure compliance and the lowest total cost of goods purchased.
• Consortiuma"SciQuest enables groups of organizations to aggregate buying power in a virtual consortium environment that centralizes sourcing and catalog management processes. This drives deeper discounts and significantly improved insight into group-wide spending.
• Multi-Business Unita"The Multi-Business Unit solution supports multi-location organizations in consolidating their purchasing functions with centralized technology and purchasing control. SciQuest provides the flexibility to localize the operational purchasing environment for language, currency, regulations, suppliers, documents, reporting and much more.

SciQuest also delivers:

• Continued investments in healthcare-specific supply chain solutions, including SciQuesta™s Virtual Item Master, that enable healthcare organizations to manage contract compliance for physician preference items and purchased services.
• Enhanced catalog and price management capabilities for buying organizations and suppliers, ensuring that goods and their prices are up-to-date, relevant and accurate for shoppers.

By further enhancing how organizations manage and buy from suppliers and catalogs, SciQuest enables organizations in higher education, life sciences, healthcare and public sector markets, as well as other industries, to increase procurement savings and purchasing efficiency.

aIn todaya™s procurement landscape, collaboration is not an option but a requirement,a said Max Leisten, market director for SciQuest. aSciQuest provides leading collaborative procurement solutions that leverage buying power across an organization, consortium or community, driving more efficient spending and significant cost savings. This latest release is a comprehensive, on-demand eProcurement solution that enables organizations to harness the power of group purchasing for improved contract compliance and total spend visibility.a

About SciQuest

SciQuest (NASDAQ: SQI) is a leading provider of an integrated, web-based end-to-end eProcurement solution that enables users to realize significant efficiencies and savings on their purchases of goods and services. SciQuesta™s unique industry segment expertise and innovative asource-to-settlea approach to eProcurement enables Fortune 1000 companies and organizations in the higher education, life sciences, healthcare and public sector markets, as well as other industries, to identify savings opportunities they may otherwise have missed, while improving contract management, compliance and supplier management. SciQuesta™s solutions help customers turn spending into a source of savings.

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.