SciQuest Unveils Newest Version of Spend Management Platform

  SciQuest Unveils Newest Version of Spend Management Platform

   With Broader Shopping Capabilities, Accounts Payable Improvements and an
     Expanded Supplier Portal, SciQuest Provides a More Comprehensive and
                      Streamlined Purchasing Experience

Business Wire

CARY, N.C. -- December 05, 2012

SciQuest, Inc. (NASDAQ: SQI), a provider of cloud-based spend management
solutions, today announced the newest version of its spend management
platform. With an improved supplier portal experience, accounts payable
enhancements and a customized shopping persona for primary purchasing
contacts, SciQuest now provides a more flexible and detailed shopping
experience for both buyers and sellers. A number of the platform’s
enhancements are the direct result of customer feedback, reinforcing the
Company’s commitment to collaborate with its customers to continually drive
product improvements.

Suppliers will benefit from an improved portal experience that enables the
quick and efficient uploading of prices and items and provides a consolidated
view of any order they have received from a SciQuest customer. In addition,
the SciQuest network continues to save suppliers money, with no additional
membership or transaction fees. The expanded supplier portal allows a more
open communication channel between providers and their customers, improving
efficiencies and reducing costs. The portal also provides an audit trail of
all discussions, including orders, delivery information, invoices and
payments. This helps streamline compliance practices and speeds the resolution
of any customer or billing issues.

Additional platform highlights include:

  *Accounts Payable Enhancements – By exposing invoice information, suppliers
    can quickly view the invoice from a customer to determine if it has been
    paid, reviewed and delivered.
  *Individual Shopping Personas – Users now have the ability to create a
    shopping persona that enables one individual to purchase goods and
    services on behalf of different individuals or departments.
  *Comprehensive Shopping – A new “Highlight Your Showcased Services” feature
    integrates all suppliers into one cohesive platform and view. Users can
    now shop for both goods and services side-by-side, helping to accelerate
    the selection and purchasing process.

“Our mission at SciQuest is to provide our customers with high-quality
solutions that create measurable, sustainable value. With the release of our
newest spend management platform, we are allowing both our customers and
suppliers to more efficiently and seamlessly interact with one another to
improve the overall purchasing experience,” said Stacy West, vice president,
marketing & communications, SciQuest. “Our two-way communication with
customers results in true collaboration on the development of innovative
product features that meet real and immediate business needs. The SciQuest
platform continues to make it easier and more efficient for purchasers and
suppliers to work together to ensure that products and services are delivered
on time for the right price.”

Customer feedback continues to play a critical role in SciQuest product
development. A majority of the enhancements made to the Company’s spend
management platform were the result of customer responses and suggestions.
SciQuest relies on its customers’ feedback to help the Company provide the
highest quality of products and services possible.

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:
SciQuest, Inc.
Michelle Perkins, 919-659-2228
mperkins@sciquest.com
or
Schwartz MSL for SciQuest
Keith Giannini, 1-781-684-0770
sciquest@schwartzMSL.com
or
SciQuest Investor contact:
SciQuest, Inc.
Jamie Andelman, 919-659-2322
jandelman@sciquest.com
 
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