SciQuest Gains Momentum with its Content-Driven Spend Management Solutions

RESEARCH TRIANGLE PARK, N.C., January 31, 2005-- SciQuest, Inc. today announced that its Spend Management solution continues to gain momentum with an increase of 400% in spend through the system over the previous year. The increase is due to the number of customers taking advantage of the content and connectivity that the solution brings to their procurement initiatives.

According to Ralph Maier, director of purchasing services at the University of Pennsylvania, "Since integrating SciQuest's solution with our Oracle system, we now have 102 strategic suppliers in our Penn Marketplace with over 70 percent of purchasing transactions going through the system. Since the beginning of this year we have been able to realize $2.1 million worth of new product savings."

A recent E-procurement Benchmark report from Aberdeen "Less Hype, More Results" indicates that advances in application usability, category specific functions, and supplier enablement solutions have yielded dramatic improvements in time-to-value for e-procurement deployments. According to the study, enterprises today use e-procurement to manage more requisitions, spend categories, and suppliers than ever before.

"Supplier Enablement is critical to a successful e-procurement initiative," said Tim Minahan, Aberdeen's senior vice president, supply chain research and author of the report. "Unfortunately, traditional supplier enablement models were too cumbersome and costly to drive sufficient adoption. Our study found that enterprises getting the most value from their e-procurement investments have outsourced supplier enablement and transaction management services to a supplier network. Higher supplier enablement drives user adoption and increased spend managed through e-procurement."

To download a copy of the report, follow this link: http://www.aberdeen.com/link/sponsor.asp?spid=30410108&cid=1414

By providing access to key strategic suppliers that represent multiple commodities, the SciQuest Supplier Network offers users a single point of enablement for both catalog content and order delivery. The network provides access to a diverse array of commodities including office supplies, maintenance, repair and operation supplies, furniture, computer equipment and scientific lab supplies. Users of the supplier enablement products have the ability to manage their relationships with suppliers within the network in a variety of ways. For instance, users can configure catalogs to reflect the organization's contracted pricing and promote preferred vendors to end users.

These benefits include:

• Gaining greater control through content-driven solutions;
  
• Enabling access to key strategic suppliers through the SciQuest Supplier Network;
  
• Delivering solutions rapidly and at a reduced cost through an on-demand environment;
  
• Increasing purchasing efficiencies by promoting preferred vendors with organization-specific pricing and internal inventory;
  
• Improving customer service through real-time order tracking, side-by-side product comparison and checking product availability, both internally and externally.

"More companies are turning to SciQuest to help optimize their existing procurement solutions through our spend management solutions," said Stephen Wiehe, president & CEO at SciQuest. "With our on-demand solution, organizations will be able to quickly and easily integrate with their key suppliers and improve their existing procurement functions while bringing more spend under management."

About SciQuest
SciQuest's on-demand solutions integrate organizations with their suppliers to enable comprehensive spend management for the life sciences and higher education markets.

SciQuest's complete suite of modular applications help to automate the source-to-settle process. When used with the SciQuest Supplier Network, these solutions reduce redundant tasks and maintain data integrity throughout the cycle of finding, acquiring and managing goods to increase efficiency, reduce cost and provide total spend visibility.

Many of the world's leading pharmaceutical, biotechnology, chemical and academic organizations rely on SciQuest solutions such as Biogen Idec, GlaxoSmithKline, Pfizer, Roche, Schering-Plough, Arizona State University, Indiana University, University of Michigan and University of Pennsylvania. SciQuest is headquartered in Research Triangle Park, NC. For more information about SciQuest, please visit www.sciquest.com or call +1-919-659-2100.

SciQuest and SelectSite are registered trademarks of SciQuest, Inc. HigherMarkets is a trademark of SciQuest, Inc.

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Media Relations

Kristi Lee
SRK Communications
919-270-8054
kristi@srkcommunications.com