Leading Canadian University to Implement eProcurement Platform to Improve Spend Visibility and Reduce Purchasing Costs

CARY, N.C.--(BUSINESS WIRE)-- SciQuest, Inc., (NASDAQ: SQI) a leading provider of on-demand strategic procurement and supplier management solutions, today announced that York University has selected the SciQuest eProcurement solution to gain deeper insights into spending, increase contract compliance and further automate the purchasing process.

York University, a public research university located in Toronto, is Canada’s leading interdisciplinary higher-learning institution. The university is deploying SciQuest to streamline and accelerate its source-to-settle process. With SciQuest, York will empower its faculty and staff with an intuitive web-based shopping experience that helps ensure contract compliance while increasing overall savings.

“We were impressed with SciQuest’s track record for driving measurable purchasing improvements at the top colleges and universities in the United States and Canada,” said Trudy Pound-Curtis, CFO, York University. “We needed an eProcurement product that would ensure that the entire faculty was purchasing goods and services at the lowest possible price point. SciQuest provides an easy-to-use solution that will enable us to enhance the overall purchasing process, turning spending into a source of savings.”

The SciQuest eProcurement solution enables colleges, universities and schools of all sizes to automate and manage every aspect of the purchasing process, including sourcing, shopping, requisitioning and accounts payable. With SciQuest, higher education organizations can also create multi-school procurement consortia, increasing purchasing and negotiating power with shared vendors.

“Higher education institutions are striving for ways to increase efficiencies in purchasing and achieve maximum value from their vendor relationships,” said Max Leisten, market director for higher education, SciQuest. “We look forward to working with York University to help create a foundation for spend management collaboration among Ontario-based higher education institutions, including the sharing of contracts and purchasing data. SciQuest continues to deliver procurement solutions that enable higher-learning institutions to generate savings with every purchase.”

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.

CONTACT:

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

KEYWORDS:   United States  North America  North Carolina

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