SciQuest Closes Year with Record Growth and Continues Expansion in 2010

CARY, N.C. - SciQuest, Inc., the global software leader empowering enterprises to realize the potential of strategic procurement, announced that the company achieved numerous performance milestones in 2009, including a record-breaking fourth quarter. SciQuest also unveiled industry-changing enhancements to its proven suite of procurement automation solutions for education, government, healthcare and life sciences organizations.

“This past year was challenging for many of the organizations and industries we serve,” said Stephen Wiehe, president and CEO of SciQuest. “But our employees’ dedication to our customers and the ability of our solutions to generate measurable savings made 2009 an exceptional year for the company. Armed with the appropriate tools, procurement organizations can drive significant contributions to bottom-line results regardless of the economic climate.”

In 2009, SciQuest’s customer base grew by more than 20 percent. In the life sciences, the company increased its reach among the world’s best-known research-intensive operations, with 13 of the world’s 15 largest pharmaceutical companies now using its solutions. SciQuest also expanded its reach in the healthcare arena, where some of the industry’s most prestigious organizations use SciQuest to generate savings and efficiencies in their clinical and research supply chains.

Growth was further demonstrated by the State of Georgia’s deployment of SciQuest as the foundation for its first-in-the-nation approach to procurement reform. Record-breaking growth also occurred in higher education, where SciQuest is the undisputed leader for procurement automation technology. In 2009, the company signed more colleges, universities and multi-campus systems than ever before.

Growth in each of the company’s target markets helped make 2009 the most profitable year ever for SciQuest.

SciQuest also achieved noteworthy gains in customer satisfaction and product development. The Customer Support department’s continual focus on keeping the customer front and center helped the company maintain a more than 98 percent customer satisfaction ranking in 2009. Close interaction with customers also resulted in significant product innovations. These included enhancements that enable organizations to aggregate their buying power through consortia communities and group purchasing solutions, a wide range of eprocurement solutions designed to address the needs of smaller procurement departments and mid-sized organizations, and efficiencies that make it easier for suppliers to participate in the SciQuest network.

“Putting the customer first is at the core of our culture, and we have processes in place to ensure that continual feedback from customers informs and guides every aspect of our business,” added Wiehe. “I am proud that we continue to establish and enhance customer-focused programs to drive new levels of service excellence.”

The company’s performance and that of its customers also resulted in significant accolades from the industry and media. The company received numerous awards in 2009, including recognition as one of the 100 providers exerting the greatest impact on customers’ supply chains from Supply & Demand Chain Executive and recognition as one of the 100 best software companies from JMP Securities as well as one of the Best Places to Work from Triangle Business Journal. SciQuest customers, Rensselaer Polytechnic Institute and the University of Missouri also were co-recipients of the National Association of Educational Procurement’s “Excellence in Procurement” award in part due to their use of SciQuest’s strategic procurement software.

SciQuest is starting the New Year with significant expansion and has a number of open positions at the company’s headquarters as well as across the U.S. For more information, visit: http://www.sciQuest.com/company/careers/.

About SciQuest
SciQuest’s procurement automation and supplier enablement solutions empower leading organizations to realize the potential of strategic procurement. The company’s specialized knowledge, on-demand software, and service-first approach enable public and private enterprises across the globe to manage spend, drive ROI, and advance their critical missions.

SciQuest’s deep understanding of its served vertical markets combined with a broad supplier network and intuitive, online shopping experience increase user adoption and contract compliance while improving operational efficiencies. Through software-as-a-service (SaaS) deployment, organizations can quickly implement the right eprocurement solution to augment existing ERP investments or fully enable all aspects of purchasing from sourcing to settlement.