Tulane University Selects SciQuest to Streamline Organizational Spend Management

SciQuest, Inc. (Nasdaq: SQI), the leading public provider of spend management solutions delivering value beyond savings, today announced Tulane University will implement SciQuest’s Spend Director and Accounts Payable Director solutions to streamline its current procurement process and to enable strong long-term spend management processes.

“We closely examined all aspects of our operating processes to identify ways the university could reduce budget gaps without impacting the educational standards we have set over the years, and our procurement process quickly stood out as an area that could be transformed,” said Douglas Harrell, vice president for finance and controller of Tulane University. “It became clear that SciQuest would be able to efficiently address our needs and integrate with our existing systems.”

Becoming a customer at the end of 2015, Tulane University is deploying two of SciQuest’s source-to-settle solutions, including:

• Spend Director, to transform a manual and labor-intensive procurement process into an automated center of excellence, delivering significant cost savings and efficiencies and automating the procure-to-pay process.
• Accounts Payable Director, to eliminate tedious manual processes, free up valuable resources and present an opportunity to make a significant impact on the organization’s bottom line.

“Tulane University faces many of the same challenges that businesses in other sectors are encountering — the need to streamline its procurement process,” said Stephen Wiehe, president and CEO of SciQuest. “Procurement offers an opportunity for all organizations to wisely and effectively manage spend. With the implementation of our solutions, Tulane will be able to automate and streamline procurement immediately, which will lead to long-term savings.”

About SciQuest

SciQuest (Nasdaq: SQI) is the leading public provider of spend management solutions delivering value beyond savings. Through the continued release of key innovative technology and a fanatical drive toward making our customers successful, we deliver exceptional value in user experience, productivity and operational efficiency. Our cloud-based, mobile-enabled, source-to-settle platform addresses all stages of procurement from the automation of core processes to enabling sophisticated, strategic and multifaceted sourcing solutions. We specialize in handling simple procurement needs to the most advanced supplier and supply chain requirements. SciQuest serves a wide range of industries and organizations including many of the Global Fortune 500. For more information visit http://www.sciquest.com. To join the conversation, please visit our blog 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 http://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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160405005175/en/