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CAUBO Honors McGill University for ‘McGill Marketplace’ Powered by SciQuest

SciQuest (NASDAQ: SQI), a leading provider of cloud-based business automation solutions for spend management, today announced that McGill University has been presented with the 2014 Quality and Productivity Award by Canadian Association of University Business Officers (CAUBO) for its implementation of eProcurement software from SciQuest, at the 2014 CAUBO Conference held in Victoria, BC.

Located in Montreal, McGill is one of Canada’s leading institutions for higher education, providing world-class academic instruction to more than 39,000 students. Packaged through unfailing collaboration between McGill University and SciQuest into a business design that suits McGill’s workplace and incorporates procurement best practices, ‘McGill Marketplace’, or MMP, offers the university’s faculty and staff an easy-to-use virtual shopping mall—complete with 45 vendor catalogues—that streamlines its administrative processes and improves both productivity and efficiency overall. McGill’s success is due to its innovative work combining financial controls and procurement strategies with functionalities of SciQuest eProcurement system, allowing for collaboration at all fronts, complete transparency and efficient use of resources. SciQuest enables McGill to mitigate risk with access to traceable workflows, real-time budget allocation controls and details on negotiated and comparison pricing.

“We are thrilled to be recognized by CAUBO for our efforts to effectively manage operations by enhancing the university’s purchasing experience with eProcurement. Combine financial controls and procurement strategies with functionalities of an e-Procurement system and you have a recipe for success,” said Kathy Zendehbad, Associate Director of Procurement Services at McGill University. “By partnering with SciQuest, we have seen first-hand the benefits of transforming our once-limited marketplace into a tool that offers us added control, greater insight and a more accurate understanding of financial roles and responsibilities as we continue to build relationships with outside vendors.”

“Visibility into spend and payment processes—and the tools to effectively manage those operations—are essential for institutions of higher education, which often are faced with unique challenges along the road to efficiency,” said Stephen Wiehe, President and CEO of SciQuest. “We are committed to helping dozens of institutions transform spending into a source of savings, and we are proud to see McGill honored for making strategic eProcurement decisions within higher education.”

Submissions for the 2014 CAUBO Quality and Productivity Awards were evaluated based on the ability to demonstrate operational effectiveness within higher education admissions. A full list of winners can be viewed online.

About SciQuest

SciQuest (NASDAQ:SQI) is the largest publicly held pure-play provider of cloud-based business automation solutions for spend management – offering deep domain knowledge and a leading, customer-driven portfolio. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies and reduce spend. These cloud-based solutions are easier to implement and proven to deliver measurable, sustainable value with SciQuest’s high-touch support, analysis and automation. Learn more about our solutions and how we can help your organization turn spending into savings at www.sciquest.com.

About McGill University

Founded in Montreal, Quebec, in 1821, McGill is a leading Canadian post-secondary institution. It has two campuses, 11 faculties, 11 professional schools, 300 programs of study and some 39,000 students, including more than 9,300 graduate students. McGill attracts students from over 150 countries around the world, its 8,200 international students making up 21 per cent of the student body. Almost half of McGill students claim a first language other than English, including approximately 40 per cent whose first language is French or who speak it fluently.

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.

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