Procuri and SciQuest Partner to Provide a Comprehensive Integrated and Hosted Supplier Management Solution; Joint Solution Enables Customers to Pick and Choose Modules That Are Highly Configurable to Meet Their Spend Management Goals

Business Wire, Sept 13, 2006

ATLANTA & RESEARCH TRIANGLE PARK, N.C. -- SciQuest, Inc., a leading provider of on-demand supplier management and procurement automation solutions and Procuri, the global leader in On Demand Supply Management solutions, today announced a strategic alliance to deliver highly configurable source-to-settle solutions designed to meet the needs of joint customers. Today's announcement was made at Procuri's Empower 2006 conference being held this week in Atlanta, GA.

"Globalization, inflation, and supply scarcity have put supply management improvements atop the corporate agenda," said Tim Minahan, senior vice president of marketing at Procuri. "Procurement executives are looking for technology and services to quickly counter these pressures. This joint partnership combines two best-of-breed offerings to create a fully end-to-end procurement and supply management solution to control supply costs and risks. The Procuri-SciQuest solution is an on-demand model designed to accelerate deployment and results while eliminating the burdens and costs associated with traditional installed software."

The integration of these two complementary solutions allows SciQuest customers to benefit from Procuri's best-in-class spend analysis, strategic sourcing, contract management and supplier performance management capabilities. In return, Procuri customers have access to SciQuest's modular suite of e-procurement, supplier management, and materials management solutions. Procuri customers will also be able to leverage SciQuest's Supplier Network (SQSN).

"Through SciQuest's solutions, our customers can improve user adoption and productivity of front line requisitioners as well as enhance compliance and supplier management performance," stated Minahan.

By taking advantage of the newly-formed partnership, organizations are able to experience quick return on their investments by empowering their personnel with reliable and comprehensive tools that elevate procurement to a more strategic level.

"Both technology infrastructures were designed to run as on-demand solutions with a robust and integrated Managed Services component, ensuring a truly outsourced Software as a Service (SaaS) offering," said Jamie Duke, chief operating officer at SciQuest. "As a result, customers have the ability to source the entire procurement function to experienced providers who act as a strategic extension of the organization's IT department."

This partnership follows on the heels of the announcement earlier this quarter of Procuri and SciQuest's participation in a new global, industry-wide initiative to help companies speed and improve the evaluation and selection of supply management solutions with a series of configurable request for proposal (RFP) templates (www.supplymanagementrfp.com). Designed to give organizations access to best-practice selection criteria, various approaches based on hundreds of enterprise evaluations, and key considerations from leading supply management consultants, this initiative was the result of collaboration among leading industry associations and providers.

"Providing access to RFP templates solidifies our partnership in the eyes of our joint customers as the relationship serves to aid software evaluations and services that help organizations manage the entire supply management lifecycle," said Duke.

About Procuri

Procuri leads the On Demand Supply Management industry with more than 350 customers of all sizes, industries, geographies and spend categories. Customers include Eastman Kodak, ITT Industries, KLM Royal Dutch Airlines, The McGraw-Hill Companies, Newell Rubbermaid, Sun Microsystems and Toyota Motor Sales. Procuri's On Demand solutions for spend analysis, supplier management, strategic sourcing, contract management and compliance are comprehensive, cost effective and instantly available. For more information, call 1-877-360-1600 or visit www.procuri.com.

About SciQuest

SciQuest provides on-demand supplier enablement and procurement automation solutions that reduce operating costs, drive end-user adoption, bring more spend under management and increase visibility into organization-wide spending. Through SciQuest solutions, organizations gain immediate cost savings and rapid ROI.

Organizations can quickly enable a critical mass of suppliers through the SciQuest Supplier Network (SQSN) and leverage SciQuest Managed Services to fully manage catalog data and order delivery on an ongoing basis, significantly reducing the need for in-house IT and support resources. With an integrated supplier base, organizations can maximize on-contract spending and gain real-time visibility and reporting capabilities throughout the entire order process.

In addition to a source-to-settle suite of e-procurement applications, SciQuest also offers supplier and order management modules that seamlessly integrate with existing ERP and enterprise financial systems, driving greater return from existing investments.

For more information about SciQuest, please visit www.sciquest.com, or call 919.659.2100.