South Dakota Board of Regents Chooses SciQuest Sourcing Manager for Increased Savings, Improved Efficiencies

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RESEARCH TRIANGLE PARK, N.C., March 28, 2006 - SciQuest, Inc., a leading provider of on-demand procurement automation and supplier management solutions, announced today that the South Dakota Board of Regents' system has experienced great success in their recent implementation of SciQuest's Sourcing Manager. The Board of Regents, which includes six public universities and two schools serving special K-12 populations, marked the highest number of sourcing events in the first month of implementation in SciQuest history. During that time, South Dakota hosted over 120 solicitations for goods and services. To date, the South Dakota Board of Regents has posted nearly 200 solicitations and approved over 700 supplier registrations through Sourcing Manager.

"With SciQuest's Sourcing Manager, we emerged from a cumbersome mostly paper-based process to an efficient online system," stated Darby Ganschow, Director of Purchasing at The University of South Dakota. "Since implementing, we have streamlined our procurement processing time and can now offer a much larger pool of vendors from which to purchase necessary goods and services."

SciQuest's Sourcing Manager is an on-demand bid management solution that helps organizations achieve significant process efficiencies and cost savings over traditional paper-based bid processes. This solution streamlines the creation and issue of bid requests, supplier response submissions and awarding of bids. By providing a single platform for managing all sourcing activities and information, organizations can minimize costs and time delays associated with creating, packaging and distributing bid documents. Organizations also have the ability to conduct reverse auctions using Sourcing Manager, allowing suppliers to view the current low bid offered by competitors in real-time. In addition, purchasing agents can easily expand the number of suppliers invited to bid, there by enhancing competition. For additional product details, please refer to http://www.sciquest.com/enterprisesolutions/sourcing.php.

As a result of its unprecedented success with Sourcing Manager, SciQuest recently awarded South Dakota with an award for Rapid Application Adoption. During a special dinner and banquet held during SciQuest's NextLevel 2006 event on February 20th, South Dakota received the award in recognition of their innovation and leadership in e-procurement.

"With the increasing demand on organizations to manage their spending, more and more companies are expanding their e-procurement capabilities to impact spend management and capture additional savings," said Steve Wiehe, SciQuest President and CEO. "With Sourcing Manager, procurement professionals can use new bidding techniques to drive significant savings to the organization and are able to work more efficiently to capture greater savings to improve their bottom line"

About SciQuest, Inc.
SciQuest provides on-demand supplier enablement and procurement automation solutions that reduce operating costs, drive end-user adoption, bring more spend under management and increase visibility into organization-wide spending. Through SciQuest solutions, organizations gain immediate cost savings and rapid ROI.

Organizations can quickly enable a critical mass of suppliers through the SciQuest Supplier Network (SQSN) and leverage SciQuest Managed Services to fully manage catalog data and order delivery on an ongoing basis, significantly reducing the need for in-house IT and support resources. With an integrated supplier base, organizations can maximize on-contract spending and gain real-time visibility and reporting capabilities throughout the entire order process.

In addition to a source-to-settle suite of e-procurement applications, SciQuest also offers supplier and order management modules that seamlessly integrate with existing ERP and enterprise financial systems, driving greater return from existing investments.

For more information about SciQuest, please visit www.sciquest.com, or call 919.659.2100.

Media Relations:

Molly Thompson
Crossroads PR
919.605.0022
mthompson@crossroadspr.com

Chuck Vitello
SciQuest, Inc.
919-659-2141
cvitello@sciquest.com