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CARY, N.C., May 01, 2007 – SciQuest, Inc., a leading provider of on-demand supplier management and procurement automation solutions, announced today that the Texas Tech University System has signed a multi-year agreement with the company. The university system, consisting of seven TTU campuses and four health sciences centers, will integrate SciQuest’s HigherMarkets e-procurement solution with its existing financial system, Banner Finance from SunGard Higher Education.

“We face challenges similar to many higher education systems, including the need to access rich and accurate supplier content as well as the most current financial data across our entire campus,” said Max Ahmad, assistant vice president, administration and finance information systems management, Texas Tech.   

HigherMarkets, designed to manage the entire procurement cycle for higher education institutions, will drive more spend to preferred suppliers, reduce off-contract spend, and improve overall spend management across the entire school system. As the sole e-procurement solution and Select level member of the SunGard Higher Education Collaborative, SciQuest is proud to mark its 20^th integration with the financial ERP system. The two companies have a long history of successful integrations since establishing a solution and reseller agreement in 2002.

Ahmad added, “Integrating our procurement and financial data will provide transparency of up-to-date budgetary information during the requisition approval process. We expect to operate more efficiently to capture and manage a significantly larger portion of our overall spend.”

SciQuest’s global professional services team works closely with SunGard Higher Education during the integration process in addition to providing version control, thus removing the burden from an organization’s IT department to support future upgrades. Texas Tech’s implementation will also include SciQuest’s Chemical Manager and Supplies Manager modules, greatly enhancing its chemical tracking capabilities and the ability to expose on-hand inventory items from within the e-procurement system – required features unique to a research intensive institution. The system will also integrate SciQuest’s Science Catalog and Sourcing Manager, an on-demand bid management solution that streamlines the creation and issuance of bid requests, supplier response submissions, and awarding of bids.

“Integrating HigherMarkets with Banner Finance puts parameters in place to maintain strict accounting control and integrity of financial data while managing key procurement processes,” said Mary Gallagher, vice president, global professional services, SciQuest. “By combining best practices in e-procurement with the industry-standard in campus financial administration, institutions like Texas Tech can create a complete view of their campus financial operations.”

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:

Laura Grover
SciQuest
919.659.2159