SciQuest's On-Demand Supplier Management Solutions Drive Significant Time and Cost Savings for Yale University

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RESEARCH TRIANGLE PARK, N.C., May 16, 2006 - SciQuest, Inc., a leading provider of on-demand supplier management and procurement automation solutions, announced today that Yale University has reported substantial time and cost savings since integrating SciQuest's HigherMarkets e-procurement solution with its existing Oracle Financials system nearly two years ago. By seamlessly connecting SciQuest's flexible architecture with the university's current enterprise systems, Yale has quickly achieved maximum visibility throughout their source-to-settle process.

Since implementing SciQuest's HigherMarkets solution, Yale's procurement process has been greatly streamlined. "Users praise the system's simplicity, and the complete shopping experience has been positively impacted due to SciQuest's support hosting Yale's contract supplier catalogs," said John Mayes, associate vice president and chief procurement officer for Yale University. "The Yale community benefits from access to virtually all of the university's contract vendor discounted pricing, so it's a big win for the whole community in terms of ease of use and leveraged savings for Yale."

The suite of HigherMarkets modules implemented by Yale include Spend Director, Requisition Manager and Order Manager. HigherMarkets delivers a comprehensive, on- demand e-procurement solution geared towards the higher education market that manages the entire procurement cycle - from requisitioning, approving and purchasing, to receiving, invoicing and payment processing - greatly improving spend management across an institution. Designed to meet the unique needs of colleges and universities seeking to enhance purchasing processes, HigherMarkets is capable of helping reduce costs, improve productivity and increase visibility into organizational spend.

"We are committed to serving our customer's spend management needs and we are pleased Yale is realizing such important benefits from using our solutions," said Stephen Wiehe, president and CEO of SciQuest. "HigherMarkets was built specifically for the higher education market to address the unique needs of academic purchasing environments. We look forward to continuing to support Yale's successful procurement practice."

About SciQuest
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 contacts:
Kristi Lee
Crossroads Public Relations for SciQuest, Inc.
(919) 844-3733 - office
(919) 270-8054 - mobile
klee@crossroadspr.com

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