Latest Release of SciQuest Spend Automation Platform Drives Greater eProcurement Efficiency, Better Insight into Spend

WASHINGTON--(BUSINESS WIRE)--

SciQuest Inc. SQI, a leading provider of cloud-based business automation solutions for spend management, today announced the newest version of the company's spend automation suite, release 15.1. This release, available in late March, combines supplier management, sourcing and eProcurement capabilities into a single platform, transforming the user experience and driving greater eProcurement efficiency and better insight into spending.

SciQuest is leading the way in providing deep, integrated functionality spanning the entire source to settle process. Coupled with new, compelling mobile capabilities, release 15.1 builds on SciQuest's commitment to providing an unparalleled user experience along with the functionality that customers expect as their business requirements and needs evolve.

SciQuest release 15.1 features new mobile capabilities that will enable mobile workers to tap into the power of SciQuest's spend management solutions while on-the-go. SciQuest customers will now be able to review and approve purchase requests, orders and invoices with their iPhone or Android smart phones, driving productivity, efficiency and cost savings. The mobile capabilities and deep integration will significantly enhance the user experience and strengthen SciQuest's position as the leading provider of spend automation solutions that support both the strategic and transactional needs of procurement and sourcing professionals.

The addition of SciQuest Benchmarking in the 15.1 release provides deep insight into industry purchase order data. And a new partnership with Transcepta supports invoice automation for international customers, providing an alternative to scanning or paper-based invoicing solutions.

Other significant enhancements include:

• Simplified processes and additional controls around supplier registration and management processes to improve usability and visibility into supplier progress;
• Enhanced reporting and Expressive Feedback® features around advanced sourcing events to improve suppliers' ability to view their feedback;
• Introduction of MS Word editing for contract authoring, allowing users to easily edit contracts, compare documents and insert placeholders;
• Spanish language availability across the integrated platform;
• Improved Favorites functionality and a new, flexible dashboard experience for eProcurement, simplifying admin and search processes; and
• Improved invoice scheduling and invoice approval processes, allowing users to achieve faster approvals and adjustments.

"This release is significant because it addresses three critical areas that our prospects and customers have asked about and want - rich mobile capabilities, integration between applications and continued efficiencies and insight into source-to-settle business processes," said Eric Zoetmulder, Vice President, Product Management at SciQuest. "We are constantly looking for ways to improve the user experience while providing features and functionality that enhance procurement processes. This release is significant because of the integration of supplier management, sourcing and procurement capabilities. Combined with a mobile app that allows them to work on-the-go, and other new features, we're enabling our customers to turn spending into savings."

About SciQuest
SciQuest 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.

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.