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

CARY, N.C.--(BUSINESS WIRE)--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.

“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”

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.