The University of Montana Selects SciQuest Cloud-based Accounts Payable Business Automation Solution

  The University of Montana Selects SciQuest Cloud-based Accounts Payable
  Business Automation Solution

    Leading Public Research University Chooses SciQuest’s Accounts Payable
 Solution to Streamline Payments, Eliminate Manual Processes and Gain Deeper
                     Insights into Institutional Spending

Business Wire

CARY, N.C. -- December 18, 2012

SciQuest, Inc., (NASDAQ: SQI) a provider of cloud-based spend management
solutions, today announced that The University of Montana has selected
SciQuest’s Accounts Payable solution to further streamline its overall
procure-to-pay processes while increasing efficiencies across the entire
network.

The University of Montana is a leading public research university located in
Missoula, Montana serving 15,642 undergraduates and 2,065 graduate students.
The University’s current electronic procurement system – GrizMart, which
enables campus faculty and staff to easily search and shop online for products
and services – is powered by SciQuest. With SciQuest’s Accounts Payable
solution, the University of Montana will be able to automate its accounts
payable processes, eliminating tedious manual tasks while gaining valuable
insights throughout the procure-to-pay process.

“Since unveiling GrizMart, we’ve been able to streamline the order creation
process and promote strategic supplier relationships, increasing overall costs
savings and contract compliance,” said Ian Robbins, director of Procurement
Services, The University of Montana. “With the addition of SciQuest’s Accounts
Payable solution, we will be able to achieve additional efficiencies and
automate manual tasks, freeing our staff to focus on more strategic
objectives.”

SciQuest’s spend management solutions enable colleges and universities of all
sizes to automate and manage every aspect of the procure-to-pay process,
including sourcing, shopping, requisitioning and accounts payable. With
SciQuest’s Accounts Payable offering, institutions are able to eliminate
formerly manual processes for receiving, managing and paying invoices. As a
result, organizations are able to reduce invoice processing errors, costs and
cycle times; eliminate late payment penalties, duplicate payments or
overpayments; and capture prompt payment discounts.

“Accounts payable has traditionally been a cumbersome, time-consuming process
creating inefficiencies that slow down the entire procurement cycle,” said
John Fabris, vice president of higher education sales at SciQuest. “Higher
education organizations must be able to maximize their existing resources and
streamline labor-intensive processes. With its Accounts Payable and full suite
of cloud-based business automation solutions, SciQuest is empowering higher
education institutions like The University of Montana to turn spending into a
source of savings.”

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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