The University of California, San Francisco Selects SciQuest

UCSF Will Use SciQuest to Participate in One of Higher Education’s Most Advanced Purchasing Consortia

SAN DIEGO--()--SciQuest, Inc., (NASDAQ: SQI) a leading provider of on-demand strategic procurement and supplier management solutions, today announced that the University of California, San Francisco (UCSF) will deploy the company’s suite of on-demand procurement automation solutions. SciQuest will enable UCSF to streamline its purchasing process, gain unprecedented visibility and control over spending and fully utilize the contracts negotiated by the purchasing consortium operated by the University of California, Office of the President (UCOP). This announcement comes as SciQuest officially kicks off its NextLevel conference, a leading procurement thought leadership event.

The only institution in the ten-campus UC university system devoted exclusively to the health sciences, UCSF operates schools of dentistry, medicine, nursing and pharmacy, as well as three patient care facilities – UCSF Medical Center, UCSF Benioff Children’s Hospital and the Langley Porter Psychiatric Hospital. UCSF conducts groundbreaking scientific work through grants from numerous entities, including the National Institutes of Health. The second largest employer in San Francisco, UCSF’s budget encompasses more than $3 billion in revenue.

“The importance of procurement-generated savings cannot be overstated,” said Jim Hine, executive director of procurement at UCSF and UC Berkeley. “SciQuest will facilitate our campus procurement organization to lower the total cost of the goods and services our faculty, researchers and staff members need in their work, while at the same time freeing them from administrative distractions. In addition, SciQuest will enable us to 1) collaborate more closely with UC Berkeley, our sister campus across the Bay, who will have the identical configuration of SciQuest and their existing ERP; and 2) fully participate in and contribute to the purchasing consortium operated through UCOP.”

On-demand and requiring limited IT resources to deploy, SciQuest’s procurement automation solutions significantly streamline the purchasing process in a system that provides buyers with an intuitive shopping experience similar to that offered by popular e-commerce sites. SciQuest’s full suite of solutions, including those for accounts payable, will replace the existing procurement system at UCSF. It will be integrated directly with the campus’ existing financial system of record.

UCSF wanted an eProcurement system that was easy to use and proven to foster the user adoption required to bring transactions and payments under the influence of procurement and financial leaders. They also wanted a solution with a proven track record of success in the higher education research market.

As a leader in higher education procurement, SciQuest was a natural selection for UCSF. Used by top universities in the United States and many of the world’s most prestigious life sciences organizations, SciQuest has a proven track record of success. UCSF also considered SciQuest’s extensive supplier network, its customer-driven development cycle and its use as the purchasing platform of the UCOP purchasing consortium – a leading, innovative approach to collaborative buying in higher education today.

Created by UC San Diego and operated by UCOP, the consortium aggregates the buying power of all participating UC campuses in a single instance of SciQuest that eliminates redundant tasks for purchasing departments and enables users to buy from the absolute best contracts – ones UCOP negotiates on behalf of the UC system – quickly and easily with the click of a mouse. UCSD will join existing consortium members and SciQuest customers UC Berkeley, UC Riverside, UC Santa Cruz and UC San Diego.

“With the inclusion of UCSF, UCOP further strengthens what is already one of higher education’s most advanced collaborative buying efforts – one that enables campus procurement organizations to operate independently while attaining the savings that come with buying as a system,” said Julie Hepner, market director for higher education at SciQuest. “Perhaps most importantly, faculty and staff members at UCSF will now enjoy greater choice and faster access to the supplies they need – all while enabling the UC System to buy the same things for less.”

About SciQuest

SciQuest (NASDAQ:SQI) is a leading provider of an integrated, web-based end-to-end eProcurement solution that enables users to realize significant efficiencies and savings on their purchases of indirect goods and services. SciQuest’s unique industry segment expertise and innovative “source-to-settle” approach to eProcurement enables Fortune 1000 companies and organizations in the higher education, life sciences, healthcare and public sector markets, as well as other industries, to identify savings opportunities they may otherwise have missed, while improving contract management, compliance and supplier management. SciQuest’s solutions help customers turn spending into a source of savings.

SciQuest is a registered trademark of SciQuest, Inc. Other trademarks contained herein remain the property of their respective owners. For more information about SciQuest, please visit www.sciQuest.com or call 888-638-7322 in the U.S. or +44 1794 341182 in Europe.

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.

Contacts

SciQuest Media contact:
SciQuest, Inc.
Melissa London, 919-659-2228
mlondon@sciquest.com
or
SciQuest Investor contact:
ICR, LLC
Garo Toomajanian, 1-800-550-6380
investorrelations@sciquest.com

Release Summary

SciQuest, Inc. today announced that the University of California, San Francisco (UCSF) will deploy the company’s suite of on-demand procurement automation solutions.

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Contacts

SciQuest Media contact:
SciQuest, Inc.
Melissa London, 919-659-2228
mlondon@sciquest.com
or
SciQuest Investor contact:
ICR, LLC
Garo Toomajanian, 1-800-550-6380
investorrelations@sciquest.com