Loyola University Maryland Implements SciQuest to Transform Procurement Processes

Esteemed higher education institution to fully align purchasing with SciQuest’s source-to-settle suite

MORRISVILLE, N.C.--(BUSINESS WIRE)-- SciQuest, Inc. (Nasdaq: SQI), the leading public provider of spend management solutions delivering value beyond savings, today announced Loyola University Maryland will implement SciQuest’s source-to-settle suite to enable the university’s procurement process transformation. Through the full suite, Loyola will be able to aggregate, analyze and manage university-wide spend through a single interface, which has not previously been possible.

Loyola, a Jesuit, Catholic university located in Baltimore, recognized the need to streamline its spend management process and gain deeper insights into how funds were being spent across the organization. Until partnering with SciQuest, Loyola did not have automated, university-wide processes for the procurement function, but instead relied on manual processes administered by each department. As Loyola looked to enhance its spend management process, it needed to implement its first-ever system to manage and monitor spend.

“Until recently, procurement was a department-level responsibility that limited our cross-organization visibility into overall spend, which left us missing out on cost savings, efficiencies and a deeper understanding of how we were spending funds,” said Randall Gentzler, vice president for finance and treasurer at Loyola. “Moving forward, SciQuest will be the heart of Loyola’s procurement operation. We are confident that having access to so much in-depth procurement activity data on one platform will not only make us more efficient and drive cost savings but also more strategic about how we use our resources.”

Becoming a customer at the end of 2015, Loyola is deploying SciQuest’s source-to-settle suite, including the following solutions:

• Sourcing Director, to expand control and management of the sourcing process.
• Total Contract Manager, to enable optimization of the entire contract lifecycle, using a single repository for all vendor contracts.
• Spend Director, to transform manual and labor intensive procurement function into a center of excellence, by driving organizational spend to preferred suppliers, bringing more spend into compliance, delivering significant cost savings and gaining efficiencies through automation.
• Accounts Payable Director, to eliminate tedious and error-prone manual data entry, free up valuable resources and present an opportunity to make a significant impact to the organization’s bottom line.

“With any institution or organization there are always ways to further refine processes so that cost savings are realized without sacrificing quality and Loyola is truly embracing that idea,” said Stephen Wiehe, president and CEO of SciQuest. “For years, Loyola has been able to effectively manage its procurement process manually, which has worked. But we look forward to helping them streamline the process so that the university can save money and the employees can spend their time focused on their core initiatives and strategy.”

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.

About Loyola University Maryland

Established in 1852, Loyola University Maryland is a Jesuit university comprising Loyola College of Arts and Sciences, the Sellinger School of Business and Management, and the School of Education. Loyola enrolls 4,000 undergraduate and 2,000 graduate students from across the country and around the world. More information is available at http://www.loyola.edu, Loyola on Facebook, Twitter @LoyolaMaryland, and Instagram @LoyolaMaryland.

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/20160419005365/en/

SciQuest Media Contact:
SciQuest, Inc.
Roberta Patterson, 919-659-2230
[email protected]
or
Edelman for SciQuest
Megan Smith, 404-832-6776
[email protected]
or
SciQuest Investor Contact:
SciQuest, Inc.
Jamie Andelman, 919-659-2322
[email protected]

Source: SciQuest, Inc.

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