The University of Nevada, Reno Selects SciQuest for Campus Procurement
Public research university signs multi-year license for HigherMarkets™ procurement automation solutions to achieve campus-wide efficiencies and cost savings
RESEARCH TRIANGLE PARK, N.C., July 29, 2003 – SciQuest, Inc. (Nasdaq: SQST) today announced that the University of Nevada, Reno has signed a multi-year license agreement for the company’s HigherMarkets™ procurement automation solutions to improve purchasing, faculty, staff and researcher productivity, as well as help the campus save money by increasing utilization of vendor contracts.
The University of Nevada, Reno will implement the complete suite of HigherMarkets modules including Spend Director, Requisition Manager and Order Manager. The agreement also includes access to over 1,000 leading scientific suppliers through the SciQuest Science Catalog.
The University of Nevada, Reno is a public research university with an enrollment of 14,700 undergraduate and graduate students. The campus has witnessed an incredible growth in its research community as sponsored project funding at the university has tripled in the past 15 years to $110 million. More than half of that total is represented by innovative research projects.
“The steady increase in scientific research on our campus has placed new demands on our purchasing department to provide the highest level of customer service to our research community,” said Steven Zink, vice president of information technology for the University of Nevada, Reno. “We look forward to a rapid deployment of the HigherMarkets solution to help meet the immediate needs of our campus constituents while providing long-term value for the university.”
Built on the SelectSite technology platform, HigherMarkets is a hosted, Web-based procurement automation solution designed for colleges and universities seeking to improve the campus buying experience and direct spending to preferred vendors. HigherMarkets delivers compelling cost savings for departments, faculty and researchers while enabling a single point of procurement.
“SciQuest welcomes the University of Nevada, Reno to the growing community of public and private universities who recognize SciQuest’s expertise in implementing campus procurement solutions,” said Dorrian Porter, vice president of higher education for SciQuest. “This agreement demonstrates how the benefits of e-procurement extend beyond the purchasing office to impact the very core of the university’s mission. SciQuest solutions streamline the tasks of finding, acquiring and managing needed materials to create an environment which better facilitates education and, ultimately, innovation.”
About SciQuest
SciQuest provides technology, services and domain expertise to optimize procurement and materials management for the life sciences, industrial research and higher education markets. SciQuest solutions enable research-intensive organizations to reduce costs, improve quality and speed the process of innovation by helping them find and acquire resources and manage the lifecycle of critical assets.
Many of the world’s leading pharmaceutical, biotechnology, chemical and academic organizations rely on SciQuest solutions to streamline the Innovation Supply Chain including GlaxoSmithKline, Pfizer, Roche, Schering-Plough Research Institute, Procter & Gamble, the Rensselaer Polytechnic Institute and Indiana University. SciQuest is headquartered in Research Triangle Park, NC, with offices in Philadelphia, San Francisco and London. For more information about SciQuest, please visit www.sciquest.com or call +1-919-659-2100.
Statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties, including all statements regarding benefits that may be derived from the HigherMarkets e-procurement solution. For such statements, the Company claims the protection of the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995. The potential risks and uncertainties associated with these forward-looking statements could cause actual results to differ materially from those presented herein, and the reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements are discussed in the Company’s Quarterly Report on Form 10-K for the period ended December 31, 2002, filed with the Securities and Exchange Commission, under the caption “Factors That May Affect Future Results”.
SciQuest and SelectSite are registered trademarks of SciQuest, Inc. LifeCycle and HigherMarkets are trademarks of SciQuest, Inc.
Contacts:
Media Relations
Amber Link
SciQuest Media Relations
919-659-2146
alink@sciquest.com
David Chatham
Brodeur Worldwide
919-850-2055
dchatham@brodeur.com
Investor Relations
Peyton Anderson
SciQuest Investor Relations
919-659-2103
panderson@sciquest.com
