SciQuest Achieves SAS 70 Type II Certification

CARY, N.C., June 10, 2008 - SciQuest, Inc., the global leader in helping academic, healthcare and research-centric organizations realize the potential of strategic procurement, today announced that the company has received its Statement on Auditing Standards (SAS) No. 70 Type II certification. Developed by the American Institute of Certified Public Accountants (AICPA), SAS 70 is widely recognized because it represents that a service organization has been through an in-depth audit of their control objectives and control activities.

As a provider of on-demand software solutions, this certification means SciQuest has demonstrated that the organization has adequate controls and safeguards in place to protect data belonging to the company's more than 100 customers who processed over $5.3 billion in transactions through the SciQuest system last year. The independent service auditor's report details the controls placed in operation and tests of operating effectiveness for SciQuest's SelectSite and HigherMarkets solutions, providing customers with assurance that their data is secure, the necessary controls are in place and that these controls are functioning properly.

"We are proud to be a SaaS pioneer and, as such, this audit reflects our unwavering commitment to providing our customers with reliable solutions that also uphold the integrity of their data to the highest possible standard," said Jamie Duke, COO of SciQuest. "We plan to conduct an annual Type II audit to provide our customers with the ongoing assurance that our operating and information technology control objectives are continually met."

Through the software-as-a-service (SaaS) model, SciQuest provides a complete source-to-settle suite of eprocurement applications. Utilized by more than 60 of the best known colleges and universities, nine of the 15 largest pharmaceutical companies and other prestigious healthcare organizations and biotechnology firms, SciQuest enables organizations to be more strategic through streamlined procurement and supplier management processes that deliver efficiency, cost-savings and transparency.

"Even for organizations not subject to the regulations of the Sarbanes-Oxley Act, our completion of a SAS 70 Type II audit eliminates the need for our customers to conduct their own audits of our systems, saving them valuable time and resources," stated Stephen Wiehe, president and CEO of SciQuest. "Providing our customers with trusted, secure solutions that help them better manage spend and advance their core missions remains at the heart of everything we do."

About SciQuest
SciQuest is the global leader in helping academic, healthcare and research-centric organizations realize the potential of strategic procurement. The company's specialized knowledge, on-demand software, and service-first approach empower more than 100 of the best-known academic, pharmaceutical, biotechnology, research hospitals, and ambulatory surgical organizations to manage spend, drive ROI, and advance their critical missions.

SciQuest's strategic procurement solutions are strengthened by a deep understanding of the higher education and research environments combined with a broad supplier network for everything from lab equipment to office supplies to services. The company's intuitive, online shopping experience and diverse supplier offerings are proven to increase user and contract adoption. Through software-as-a-service (SaaS) deployment, organizations can quickly implement the right eprocurement solution, whether it's a robust shopping platform for existing eprocurement tools or to fully enable all aspects of purchasing from sourcing to settlement.

For more information about SciQuest, please visit www.sciquest.com or call 877-710-0413 in the U.S. or +44 1794 341182 in Europe.

SciQuest is a registered trademark of SciQuest, Inc. Other trademarks contained herein remain the property of their respective owners.

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