SciQuest, Inc. (Nasdaq: SQI), the leading public provider of spend management solutions delivering value beyond savings, today announced the launch of the new Portfolio Savings Manager (PSM). The new tool, which fully integrates with the SciQuest Source-to-Settle Suite, provides procurement buyers to finance departments to CEOs a collaborative solution to validate, track and measure the success of savings initiatives throughout the organization.

“Until now organizations have not been able to seamlessly manage, monitor and quantify the value of a project in one easy-to-use dashboard, which meant they would spend hours gathering and analyzing data,” said Stephen Wiehe, president and CEO of SciQuest. “With PSM, we have connected project management, savings tracking and workflow management tools onto one unified interface that it can also work in perfect harmony with our existing source-to-settle suite. We are certain this new tool will not only enable teams to quantify results, but will also enable cross-organization collaboration to find the most productive and beneficial solution possible.”

The cross-functionality of the product allows team members in any department throughout the organization to identify potential savings projects, prioritize project lists, designate approved projects and track the results over time. Additionally, PSM enables more seamless management of initiatives by combining the functionality of multiple project management tools, including the tracking capabilities of spreadsheets, process outlining of workflow plans, historical accounting of databases and reporting capabilities of dashboards. Through this single interface, users benefit from multiple offerings to achieve an all-encompassing savings tracking and management system.

In addition, PSM includes the following features:

  • A cloud-based initiative repository
  • The ability to track deliverables, including progress, status, savings and goals
  • A configurable initiative approval workflow process
  • Historical project and savings visibility
  • Configurable company-based commodity codes, descriptions, departments and other attributes

Portfolio Savings Manager will be available for purchase in July. For more information, please visit www.SciQuest.com.

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.

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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.