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SciQuest Improves Transparency and Visibility Into Spend Automation Processes With Upgraded Solution Suite

CARY, N.C., Nov. 5, 2013 (GLOBE NEWSWIRE) -- SciQuest, Inc. (Nasdaq:SQI), a leading provider of cloud-based business automation solutions for spend management, today announced the newest version of the company's spend management suite. The release includes significant upgrades to reporting capabilities, particularly for procurement and accounts payable (AP) analysis. As a result, users will gain greater insight into critical spend management processes while improving their ability to benefit from early payment discounts and avoid late payment penalties.

"This latest release to our spend management suite continues our focus on the user experience while providing significant enhancements based on customer feedback," said Mark Digman, Vice President, Product Marketing and Strategy at SciQuest. "We know that usability, reporting and analysis are key drivers for investing in and getting value from spend management technologies. With this release we are giving SciQuest users more detail than ever before, by providing an unparalleled ability to drill down into and analyze AP and procurement processes and data."

Enhanced reporting capabilities will help make it easier for users to analyze and execute on early payment discounts and avoid late payments, along with many other critical AP insights. The newest release includes several additional upgrades, including:

  • A new Spend Dashboard for eProcurement reporting, providing clarity and visibility into procurement, including overall trends, supplier spend and catalog vs. non-catalog spend;
  • Enhanced user interface control capabilities, allowing for flexibility in controlling the UI experience, including added positions for important organizational messages;
  • The only system to offer non-PO invoice integration with Banner by Ellucian, keeping SciQuest at the leading edge of Banner integration;
  • A new hosted, single-tenant version of SciQuest's Enterprise Reagent Manager (ERM) solution, allowing customers to meet regulatory compliance in chemical procurement, inventory and management without costly IT infrastructure requirements.

The new version of SciQuest's spend management suite is available immediately. For more information, please visit www.SciQuest.com.

About SciQuest

SciQuest (Nasdaq:SQI) is the largest publicly held pure-play provider of cloud-based business automation solutions for spend management – offering deep domain knowledge and a leading, customer-driven portfolio. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies and reduce spend. These cloud-based solutions are easier to implement and proven to deliver measurable, sustainable value with SciQuest's high-touch support, analysis and automation. Learn more about our solutions and how we can help your organization turn spending into savings at www.sciquest.com.

To join the conversation, please visit our blog, The Open Kitchen at http://www.sciquest.com/blog– or follow us on Twitter @SciQuest.

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 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 are discussed in "Part I, Item 1A, Risk Factors" and elsewhere in SciQuest's most recent Annual Report on Form 10-K and other reports, as filed with the United States Securities and Exchange Commission ("SEC"). The company's SEC reports are available free of charge on the SEC's website at http://www.sec.gov or on the company's website at www.sciquest.com. These forward-looking statements speak only as of the date hereof, and SciQuest undertakes no obligation to update, amend or clarify any forward-looking statement for any reason. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

CONTACT: SciQuest Media contact: SciQuest, Inc. Michelle Perkins, 919-659-2228 mperkins@sciquest.com fama PR for SciQuest Dan Gaffney, 617-986-5036 sciquest@famapr.com SciQuest Investor contact: SciQuest, Inc. Jamie Andelman, 919-659-2322 jandelman@sciquest.comSource:SciQuest, Inc.