SciQuest’s Spend Radar Solution Drives New Insights and Global Savings with Data Translation Services; Speeds up Data Processing
Cary, N.C., November 5, 2012 –SciQuest, Inc. (NASDAQ: SQI) a leading provider of cloud-based spend management solutions, today announced enhanced translation services for its Spend Radar spend analysis solution. By automating the translation of large international data sets, SciQuest enables organizations to consolidate, cleanse and classify spend data from across the globe to perform accurate spend analysis that drives cost reductions. SciQuest acquired the assets of Spend Radar in September 2012 to further extend the capabilities of its spend management solutions suite.
With enhanced translation services, SciQuest’s Spend Radar solution now enables organizations and procurement departments to translate an entire column of spend data into 32 languages, then view and save reports. By ensuring the accuracy of this global data, Spend Radar enables organizations to easily analyze international spending data, identifying new costs savings and ensuring purchasing compliance.
“Organizations often struggle to gain control of global spend data that is collected in multiple languages and currencies,” said Brian Daniels, SciQuest’s vice president, spend analysis. “SciQuest Spend Radar now automates the translation of this information, resulting in actionable and accurate spend data that drives true cost savings. SciQuest continues to develop and deliver a comprehensive set of spend management solutions that enable its global customers to more intelligently reduce spending costs and improve purchasing process efficiencies.”
In addition to enhanced translation services, SciQuest Spend Radar continues to speed up the data processing times by improving the data loading process with new FTP services. With Spend Radar’s real-time data processing and reporting, organizations can more quickly analyze comprehensive and accurate datasets that help uncover hidden spend savings, driving cost reductions across geographies
SciQuest’s (NASDAQ: SQI) easy to use solutions help contract management, procurement, and accounts payable professionals make daily operations efficient through smart automation, and turn the focus on more strategic decisions that impact the bottom line. With unmatched visibility into spending, combined with the Power of Q — the Company’s unique combination of products and support — SciQuest provides organizations with a strategic approach to spend management, improving bottom-line results.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are forward-looking statements. These forward-looking statements include references to the integration of Upside’s CLM solution, our long-term strategy and the impact of the acquisition on non-GAAP revenue and non-GAAP net income for 2012 and 2013. 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 Annual Report on Form 10-K and other required reports, as filed with the SEC, which are available free of charge on the SEC’s website at 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 contact:
Michelle Perkins, 919-659-2228
Schwartz MSL for SciQuest
Keith Giannini, 1-781-684-0770
SciQuest Investor contact:
Jamie Andelman, 919-659-2322