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Tennessee Board of Regents Selects SciQuest to Streamline Spend and Supplier Management

  Tennessee Board of Regents Selects SciQuest to Streamline Spend and Supplier
  Management

  Automating supplier management across 19 colleges and universities drives
                   efficiency improvements and cost savings

Business Wire

CARY, N.C. -- November 28, 2012

SciQuest, Inc., (NASDAQ: SQI) a provider of cloud-based spend management
solutions, today announced that the Tennessee Board of Regents (TBR) has
selected its spend management solution to automate and streamline supplier
contracts and improve operational efficiencies. By creating a centralized
point of management across 19 colleges and universities, SciQuest is
empowering TBR to more efficiently and effectively negotiate contracts that
reduce costs, while enabling the System to provide procurement excellence.

The Tennessee Board of Regents is the nation’s sixth largest system of public
higher education, consisting of 46 institutions with a combined annual
enrollment of more than 200,000 students. The TBR's six state universities, 13
community colleges and 27 technology centers offer classes across the state.
The TBR system is a $2.2 billion per year enterprise.

“Many of the institutions within the TBR network were individually managing
their own supplier relationships, creating a myriad of inefficiencies and
resulting in contracts that were not taking advantage of the system’s
significant buying power,” said Dale Sims, TBR vice chancellor for Business
and Finance. “With SciQuest, TBR and its higher education institutions will be
able to standardize basic supplier processes and centrally manage the
network’s supplier relationships, driving efficiency improvements that will
enable us to focus our resources on our primary mission of educating our
students.”

SciQuest’s spend management solutions will enable the TBR to centralize and
automate previously manual and labor-intensive tasks such as registering
suppliers and uploading this information to the network’s existing Enterprise
Resource Planning (ERP) system. In addition, suppliers will now have the
responsibility and ability to keep their information up-to-date, enabling TBR
staff to focus on more strategic purchasing initiatives. By helping
standardize supplier management processes across schools, SciQuest will help
create operational efficiency improvements that free up existing resources and
save money.

“Higher education institutions and systems such as TBR are all facing
increasing pressures to cut costs while providing a quality education to more
students,” said John Fabris, vice president of higher education sales,
SciQuest. “SciQuest provides the tools for automating backend processes while
arming these institutions with more control and visibility into their supplier
relationships and overall purchasing practices. With cloud-based solutions for
e-procurement, spend analysis and accounts payable, SciQuest is empowering
customers like TBR with a more holistic and strategic approach to spend
management that results in streamlined operations and reduced purchasing
costs.”

About SciQuest

SciQuest’s (NASDAQ: SQI) easy to use solutions help contract management,
procurement, and accounts payable professionals make daily operations
efficient through smart automation, and turn the focus on more strategic
decisions that impact the bottom line. With unmatched visibility into
spending, combined with the Power of Q — the Company’s unique combination of
products and support — SciQuest provides organizations with a strategic
approach to spend management, improving bottom-line results.

To join the conversation, please visit our blog, The Open
Kitchen—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 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.

Contact:

SciQuest Media contacts:
Michelle Perkins, 919-659-2228
mperkins@sciquest.com
or
Schwartz MSL for SciQuest
Keith Giannini, 1-781-684-0770
sciquest@schwartzMSL.com
 
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