New Version of SciQuest Advanced Sourcing Optimizer Delivers Improved Bid Analysis Flexibility

  New Version of SciQuest Advanced Sourcing Optimizer Delivers Improved Bid
  Analysis Flexibility

   Improvements made based on customer feedback include improved cost model
    analysis flexibility and new options for analyzing sourcing decisions

Business Wire

CARY, N.C. -- December 16, 2013

SciQuest (NASDAQ: SQI), a leading provider of cloud-based business automation
solutions for spend management, today announced the newest version of the
company’s Advanced Sourcing Optimizer. This is the first upgrade to the
company’s advanced sourcing solution since SciQuest acquired CombineNet in
September 2013. Designed in response to customer feedback, the new version
provides several new and innovative ways to conduct bid analysis and scenario
optimization, delivering greater analytical power and flexibility to
end-users.

Available immediately, the new version of Advanced Sourcing Optimizer includes
more flexible ways for customers to evaluate sourcing data. As a result, users
are able to gain a more sophisticated and nuanced understanding of sourcing
activities. New capabilities include:

  *Cost Model Analysis Flexibility – Allows users to create multiple cost
    models, including historic cost models, in a single sourcing event while
    electing which cost model to apply in “what if” scenarios for bid analysis
    and optimization. As a result, buyers can now look at multiple pricing
    models and compare total costs or specific portions of total cost to
    historic prices, benchmark data or market rates.
  *New Ratio Balancing Rule – A brand new optimization scenario rule that
    enables buyers to ensure that, when suppliers are awarded certain items,
    they are also awarded other items based on a ratio determined by the
    buyer. This results in more efficient transportation and supply chain
    execution, improves support for corporate sustainability and helps buyers
    balance the award of different items to suppliers.
  *Pre-defined Scenarios – Sourcing events in ASO now include three
    pre-defined scenarios (Single Supplier, Lowest Bid and Lowest Bid
    Considering Capacity) to support faster analysis of simple award
    strategies and support novice users as they begin to use optimized
    scenario analysis.
  *Event Editing – New functionality allowing buyers to change certain event
    features that would have previously been “locked in” once the event was
    opened to suppliers, allowing buyers to easily make changes to sourcing
    strategy at any time.

“This release underscores SciQuest’s continued commitment to pushing the
boundaries of sourcing innovation,” said Greg Holt, product marketing director
at SciQuest. “SciQuest has a long track record of listening to our customers’
needs and developing innovative solutions to meet those needs, helping users
turn spending into a strategic source of savings. The Advanced Sourcing
Optimizer enables better, faster decision-making while providing the
flexibility required to conduct advanced sourcing events.“

About SciQuest

SciQuest (NASDAQ:SQI) is the largest publicly held pure-play provider of
cloud-based business automation solutions for spend management – offering deep
domain knowledge and a leading, customer-driven portfolio. SciQuest solutions
enable greater visibility and compliance organization-wide to help you gain
control, optimize efficiencies and reduce spend. These cloud-based solutions
are easier to implement and proven to deliver measurable, sustainable value
with SciQuest’s high-touch support, analysis and automation. Learn more about
our solutions and how we can help your organization turn spending into savings
at www.sciquest.com.

To join the conversation, please visit our blog, The Open Kitchen at
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 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
are discussed in “Part I, Item 1A, Risk Factors” and elsewhere in SciQuest’s
most recent Annual Report on Form 10-K and other reports, as filed with the
United States Securities and Exchange Commission (“SEC”). The company’s SEC
reports are available free of charge on the SEC's website at
http://www.sec.gov or on the company’s website at www.sciquest.com. These
forward-looking statements speak only as of the date hereof, and SciQuest
undertakes no obligation to update, amend or clarify any forward-looking
statement for any reason. Given these risks and uncertainties, investors
should not place undue reliance on forward-looking statements as a prediction
of actual results.

Contact:

SciQuest, Inc.
Media contact:
Michelle Perkins, 919-659-2228
mperkins@sciquest.com
or
Investor contact:
Jamie Andelman, 919-659-2322
jandelman@sciquest.com
or
fama PR for SciQuest
Dan Gaffney, 617-986-5036
sciquest@famapr.com