SciQuest Delivers Next Level of Spend Automation

  SciQuest Delivers Next Level of Spend Automation

Newest Version of Solution Suite Includes Enhancements to Supplier On-Boarding
 & Management, Advanced Sourcing, Chemical Inventory Management and Reporting

NextLevel 2014

Business Wire

ORLANDO, Fla. & CARY, N.C. -- February 24, 2014

SciQuest, Inc. (NASDAQ:SQI), the largest pure-play provider of cloud-based
business automation solutions for spend management, today announced the next
release of its spend management suite at NextLevel 2014. With major
enhancements to supplier on-boarding and management, advanced sourcing,
chemical inventory management and reporting the new release demonstrates the
company’s ongoing commitment to integrate newly acquired products into the
suite while continuing to invest in existing product enhancements to meet
customer needs.

As part of the new release, SciQuest’s next-generation Total Supplier Manager
solution will be fully integrated into the source-to-settle suite, allowing
users to manage supplier data and automate supplier registration from a
single, easy-to-use portal. With the next-generation On-Boarding module,
SciQuest users will now be able to automate supplier onboarding by collecting
critical Accounts Payable, tax, insurance and diversity documentation while
syncing supplier data with ERP systems.

“Over the past few years, we’ve made significant advances in broadening our
set of spend management solutions and executing on a customer-driven vision
for spend management,” said Mark Digman, Vice President, Product Marketing and
Strategy at SciQuest. “With each release, we’re making important strides
toward fulfilling that vision. We are improving the breadth and depth of our
solutions while providing seamless workflow and a rich customer experience. We
look forward to giving our customers a sneak peak of this latest release at
NextLevel, and will continue to listen to their valuable feedback as our
solutions evolve.”

The new release also includes enhancements to SciQuest’s Advanced Sourcing
Optimizer, with new capabilities that increase the ways in which sourcing
teams can model price and non-price information when analyzing sourcing
decisions. As a result, users can increase their spend under management and
make better sourcing decisions by better understanding the information
collected from suppliers and the impact of their decisions on their business.

SciQuest’s leading chemical inventory management solution, Enterprise Reagent
Manager (ERM), is now available as a single-tenant software-as-a-service
(SaaS) solution. In the single-tenant SaaS offering, customers can manage the
procurement and inventory of regulated chemicals, laboratory supplies and
research materials in a secure environment without costly infrastructure
requirements. Enterprise Reagent Manager now provides cost savings and
regulatory compliance in both the on-premise and in a single-tenant SaaS
environment for customers in pharmaceuticals, chemical manufacturing, higher
education and other research environments.

Further enhancements to eProcurement and Accounts Payable reporting round out
the release, providing users with more visibility and insight into their
spending, right from their main shopping pages. SciQuest will be demonstrating
the latest release this week at NextLevel 2014, the premier event in the
procurement industry. For more information on NextLevel 2014, please visit
http://nextlevel.sciquest.com/.

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