SciQuest Unveils Latest Version of Spend Automation Suite

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

SciQuest, Inc. SQI, a leading provider of cloud-based business automation solutions for spend management, today announced the latest release of its spend automation suite. This latest release includes significant upgrades across the product suite, including the expansion of core supplier management capabilities with the launch of the Dynamic Qualification and Risk Compliance module for Total Supplier Manager. This new module allows for a more thorough supplier vetting process, enabling customers to further qualify suppliers by collecting risk-based information and assess vendor status or compliance.

The latest version also includes enhancements to reporting for Advanced Sourcing Optimizer customers, new product-to-product integrations and improved import/export capabilities for sourcing. Additionally, the suite now includes integration with Thomson Reuters' ONESOURCE /SABRIX tax software solutions and other tax calculation improvements.

Additional upgrades and improved capabilities for the suite include:

• New features to the Total Supplier Manager (TSM) core registration function enabling customers to extend capacity for building a master global supplier database;
• New functionality enabling Contract Director customers to streamline contract creation and reduce manual overhead by initiating contracts requests from Salesforce.com;
• Improved workflow and enhanced Q&A functionality for Advanced Sourcing Optimizer customers;
• Improved eProcurement capabilities, including better report generation, faster checkout and updated attachment handling;
• Redesigned stockroom for Enterprise Reagent Manager (ERM) customers that efficiently manages bulk inventories of new units of consumable chemicals and laboratory supplies.

“We are firmly committed to delivering a set of solutions that help our customers turn spending into a strategic source of savings,” said Mark Digman, Senior Vice President of Marketing at SciQuest. “SciQuest users have come to expect the nothing but the best, and we're always listening to feedback to ensure that our product strategy maps to their needs.”

The new version of SciQuest's spend management suite is available immediately. For more information, please visit www.SciQuest.com.

About SciQuest

SciQuest SQI is one of the leading pure-play providers 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.