SciQuest's HigherMarkets On-Demand Solutions Allow Caltech to Significantly Increase User Adoption

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RESEARCH TRIANGLE PARK, N.C., May 23, 2006 - SciQuest, Inc., a leading provider of on-demand supplier management and procurement automation solutions, announced today that the California Institute of Technology has significantly increased the amount of spend going through its internal purchasing system, TechMart, since implementing SciQuest's HigherMarkets on-demand procurement solution. The HigherMarkets suite is designed to meet the unique needs of colleges and universities seeking to enhance purchasing processes to reduce costs, improve productivity and increase visibility into organizational spend.

"Since our implementation of SciQuest's easy-to-use HigherMarkets, the majority of the eligible TechMart users are trained and using the system - largely because we required all orders other than P-card purchases to be placed electronically," said Tina Lowenthal, Director of Procurement Services, California Institute of Technology. "Further, by negotiating contract pricing and enabling online catalog ordering, we ultimately plan to achieve greater institutional cost savings by leveraging institute-wide volume for products and services."

By implementing the suite of HigherMarkets modules, which includes Spend Director, Requisition Manager, Order Manager and Science Catalog, and requiring electronic ordering by staff, Caltech has improved the quality and ease of purchasing to the entire community by simplifying and streamlining the procurement process. HigherMarkets delivers a comprehensive, on demand e-procurement solution for higher education that manages the entire institutional procurement cycle-from requisitioning, approving and purchasing, to receiving, invoicing and payment processing - greatly improving spend management across an institution.

"HigherMarkets was created specifically for the higher education market and is uniquely positioned to address the critical needs academic purchasing environments require," said Steve Wiehe, president & CEO, SciQuest. "We are extremely pleased that our customers are realizing such great benefits from their use of our solutions and look forward to our continued support of Caltech's successful procurement efforts."

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