Carolina Hurricanes Score Contract Management Success with SciQuest

Hurricanes to leverage SciQuest’s spend management solutions to automate contract lifecycle management

NextLevel 2015

WASHINGTON--()--SciQuest Inc. (NASDAQ: SQI), a leading provider of cloud-based business automation solutions for spend management, today announced that the Carolina Hurricanes of the National Hockey League have selected its Contract Director solution to help automate contract lifecycle management (CLM).

The Hurricanes are looking to make league-leading contract management automation a priority, by replacing a manual, time-consuming and labor-intensive process with a cloud-based contract management solution that will reduce long cycle times and improve compliance conformance.

Using SciQuest’s industry-leading contract automation solution, the Hurricanes will see multiple opportunities for cost savings, revenue maximization and operational efficiency, including:

  • Creating a central repository for all contract-related information, increasing visibility and accessibility across entire the organization;
  • Reducing time to create sponsorship and event contracts through the use of approved terms, smart templates and online collaboration;
  • Fulfilling commitments on time with alerts and reminders;
  • Leveraging electronic signature technology to expedite cycle times; and
  • Ensuring an audit trail and strong security.

“The Carolina Hurricanes are a world-class organization, and it was time for our contract management capabilities to keep pace with the rest of our operations,” said William L. Traurig, Senior Vice President and General Counsel with the Carolina Hurricanes. “For too long, we have been relying on cumbersome manual processes such as storing paper contracts in filing cabinets. In the past, we have not been able to incorporate automatic renewals into our contracts because we did not have accurate visibility. I will now be able to take advantage of auto renewals because of the powerful reporting features that are part of the new solution. Now, SciQuest gives us the tools we need to automate these processes and ensure our contracts are in order. We are extremely pleased that the product and platform that best fits our business is offered by, SciQuest, a company with which we have an existing relationship and that has its headquarters just down the street. ”

“Professional sports franchises, like many large enterprises, must manage a large volume of contracts,” said Mac McLaughlin, Vice President Sales, Commercial Mid-Market at SciQuest. “Our solutions give the Carolina Hurricanes the ability to transform the contracts governing their day-to-day operations from a burden into an asset that will help them save money, improve efficiency and ensure compliance. We look forward to working with our hometown team, and will continue to root for the ‘Canes as we empower them to recognize significant business benefits.”

About SciQuest

SciQuest (NASDAQ: SQI) spend management solutions enable procurement, sourcing and financial professionals to focus on strategic decisions that transform business processes. Our feature-rich products and expert services help hundreds of organizations, including leading global companies, drive bottom line results by improving, automating and optimizing their source-to-settle processes.

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.

About the Carolina Hurricanes

The Carolina Hurricanes were established in Raleigh in 1997 after relocating from Hartford, Connecticut, where the National Hockey League franchise was originally founded in 1979. Since their arrival in North Carolina, the Hurricanes have captured three division championships, two Eastern conference titles and the 2006 Stanley Cup championship. The team also hosted the 2004 NHL Draft and the 2011 NHL All-Star Weekend at PNC Arena, where it plays its home games. Individual-game tickets for all 41 of the Hurricanes’ regular-season home games are sold at the PNC Arena Box Office and via Ticketmaster. For information on Hurricanes ticket packages, please call 1-866-NHL-CANES, or visit www.CarolinaHurricanes.com.

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.

Contacts

SciQuest Media contact:
SciQuest, Inc.
Roberta Patterson, 919-659-2230
rpatterson@sciquest.com
or
fama PR for SciQuest
Dan Gaffney, 617-986-5036
sciquest@famapr.com
or
SciQuest Investor contact:
SciQuest, Inc.
Jamie Andelman, 919-659-2322
jandelman@sciquest.com

Contacts

SciQuest Media contact:
SciQuest, Inc.
Roberta Patterson, 919-659-2230
rpatterson@sciquest.com
or
fama PR for SciQuest
Dan Gaffney, 617-986-5036
sciquest@famapr.com
or
SciQuest Investor contact:
SciQuest, Inc.
Jamie Andelman, 919-659-2322
jandelman@sciquest.com