Simplified Inventory Management and Support of Key Industry Standards
Ensures Automated and Rapid Access to Reagents for Improved Compliance, Reduced Risk and Greater Efficiency
CARY, N.C.—May 16, 2012 —SciQuest, Inc., (NASDAQ: SQI) a leading provider of on-demand source-to-settle solutions, today announced the newest version of Enterprise Reagent Manager (ERM), the industry-leading solution for managing chemicals and materials used in research. ERM Version 7.0 enables research organizations to better manage inventory and comply with key industry standards, streamlining the purchasing process for reagents and supplies. SciQuest ERM is used in labs (ranging in size from tens to thousands of researchers) in the United States, Europe and Asia.
SciQuest ERM enables users to quickly find, source and track commercial chemicals and other critical research materials. By integrating with procurement platforms, ERM empowers researchers and other key staff to view supplier catalogs, preferred pricing, internal inventory and commercial databases through a single interface, increasing efficiency and visibility into spending and inventory. In addition, SciQuest ERM ensures regulatory compliance while managing the risks associated with hazardous materials. ERM 7.0 features an enhanced user interface for managing materials and Global Harmonization Standard (GHS) compliance for hazard material classification and improved container management.
“Research organizations are managing and using thousands of chemicals – many of them hazardous –with their own rules regarding storage and use,” said Tom Russell, general manager, Enterprise Solutions, SciQuest. “We’ve introduced a number of new capabilities in response to our customers’ feedback to help them acquire and manage research materials more easily, while simultaneously meeting the control requirements of oversight agencies like the DHS. Our solution is an integral part of any strategic procurement initiative, helping utilize and reduce inventory, while promoting strategic purchasing processes and suppliers for organizations of all sizes.”
New features in ERM Version 7.0 include:
- Open architecture—ERM is migrating to a popular open-source application framework, providing a more stable, robust web service environment, and ensuring flexibility and scalability for future growth.
- Core container and material data model and capabilities completely updated to align with current best practices, simplify and personalize user interfaces and facilitate integration with leading EHS content providers like 3E Company.
- Improved support for grant-funded research—Items purchased for a particular project or under a specific grant may now be automatically reserved for use until released for use by others.
- GHS compliance—ERM physical hazard classifications is fully aligned with the Global Harmonization Standard (GHS) classification of chemical hazards – a standard now being rolled out in Europe and Asia, and recently adopted by OSHA for hazard communication in U.S. workplaces.
“Increased regulatory oversight and evolving standards for environmental health and safety (EH&S) classification and communication mandates that corporate research and development (R&D) organizations — including research labs — be able to efficiently access and manage Material Safety Data Sheets (MSDS) and related product data,” said Chris Kraus, director, Strategic Alliances, 3E Company, a Verisk Analytics company (NASDAQ: VRSK). “Combining 3E Online®-MSDS with SciQuest ERM provides our joint customers a valuable capability that helps manage large volumes of information. The capability supports both compliance and R&D initiatives, allowing customers to better focus on their core mission — research and innovation.”
To learn more about SciQuest’s ERM solution, please visit: http://www.sciquest.com/solutions/inventory-supply-chain-management/enterprise-reagent-manager/. SciQuest’s Tom Russell discusses ERM 7.0 and challenges facing researchers at SciQuest’s The Open Kitchen – http://www.sciquest.com/blog/.
SciQuest (NASDAQ: SQI) is the only company that puts the Power of Q into your supply chain. What is the Q? It is part philosophy, part partnership, and all about customers.
SciQuest delivers industry-leading comprehensive source-to-settle supply chain solutions that help you turn spending into a source of savings, but it is really the Power of Q that ensures that our customers are at the center of everything we do. Q is about quality, it’s about asking tough questions and it’s about being on a quest to get what you pay for. Only SciQuest provides the scale, industry expertise and transparency that organizations require to improve their bottom line.
To join the conversation and tell us “what’s your Q,” please visit our blog, The Open Kitchen—http://www.sciquest.com/blog.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors” section of our Registration Statement on Form S-1 and other required reports, as filed with the SEC, which are available free of charge on the SEC’s website at http://www.sec.gov or on our website at www.sciquest.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements speak only as of the date hereof, and we undertake no obligation to update, amend or clarify any forward-looking statement for any reason.
SciQuest Media contacts:
Schwartz MSL for SciQuest
Keith Giannini, 1-781-684-0770
SciQuest Investor contact:
Garo Toomajanian, 1-800-550-6380