SciQuest Positioned as a "Leader" in 2015 Gartner Magic Quadrant Report for Procure-to-Pay Suites for Indirect Procurement

SciQuest Inc. (NASDAQ:SQI), a leading provider of cloud-based business automation solutions for spend management, today announced it has been positioned by Gartner, Inc. in the “Leaders” quadrant in its 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement report released last week.1 According to Gartner, procure-to-pay suites for indirect procurement are a set of integrated solutions that support transactional procurement.

The report evaluated 20 different vendors on 15 criteria. SciQuest is one of only two companies who was positioned as a “Leader” in the Magic Quadrant for Procure-to-Pay Suites and was also included in the 2015 Magic Quadrant for Strategic Sourcing Application Suites2, released in February 2015.

“We believe recognition as a leader in Gartner’s Magic Quadrant report is a testament to our longstanding commitment to investing in our product to the benefit of our customers,” said Stephen Wiehe, CEO of SciQuest. “We are honored to be included in Gartner’s inaugural Procure-to-Pay Magic Quadrant and believe that our suite of solutions gives procurement and sourcing professionals real business value by fulfilling their transactional and strategic needs.”

According to Gartner, “user requirements and best practices for the P2P suite continue to evolve, and the market is still immature. This magic quadrant heavily weights product and service. P2P suite vendors are still building out their solutions, and as a result, there is wide variability in the robustness and completeness of their suites. We also weighted customer experience highly because our bottom line is whether a vendor has delighted its customers and helped them achieve their goals.”3

“SciQuest has been instrumental in bringing innovative and first-to-market solutions that provide our customers with the tools needed to transform business processes,” said Wiehe. “By allowing total visibility and control of a transaction from start to finish, we know our customers consider their use of our products essential to their success.”

About the Magic Quadrant

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About SciQuest

SciQuest (NASDAQ:SQI) spend management solutions enable procurement, sourcing and financial professionals to focus on strategic decisions that transform business processes. Our feature-rich products and expert services help hundreds of organizations, including leading global companies, drive bottom line results by improving, automating and optimizing their source-to-settle processes.

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/blogor 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.

1 Gartner “Magic Quadrant Report For Procure-to-Pay Suites for Indirect Procurement” by Magnus Bergfors, Paolo Malinverno, Deborah R. Wilson, March 24, 2015.

2 Gartner “Magic Quadrant for Strategic Sourcing Application Suites” by Deborah R. Wilson, Richard Adams and Magnus Bergfors, February 4, 2015.

3 Gartner “Magic Quadrant Report For Procure-to-Pay Suites for Indirect Procurement” by Magnus Bergfors, Paolo Malinverno, Deborah R. Wilson, March 24, 2015.