SCT, SciQuest to Deliver Integrated Procurement and Finance Solution to Higher Education
Institutions Can Maintain Integrity of Financial Information, Increase Visibility into Campus Spend
MALVERN, Pa. and RESEARCH TRIANGLE PARK, N.C. — September 09, 2003 — SciQuest (Nasdaq: SQST) and SCT (NASDAQ: SCTC) today announced they have expanded their relationship to collaboratively develop and market a solution that integrates' HigherMarkets e-procurement solution with the SCT Banner Finance system.
The HigherMarkets for SCT Banner solution will help institutions maintain the integrity of their financial information by tying the two systems together and allowing them to access and update the same financial information in real time. Designed specifically for higher education, the solution will help institutions avoid duplicate data and redundant processes. Through real-time validation of funds availability, institutions may also monitor that budgetary commitments are within compliance tolerances and are recorded appropriately.
"As we extend SCT integration capabilities, we are helping clients improve their efficiency and effectiveness," said Scott Doughman, SCT senior vice president of strategy and development. "By integrating SciQuest's HigherMarkets e-procurement solution with SCT's Banner Finance System, we're helping our customers efficiently extend their digital campuses to include purchasing activities that provide cost savings to the enterprise."
SciQuest HigherMarkets is a modular suite of technology enhancements for procurement and financial systems designed to manage an institution's entire procurement process. With HigherMarkets, institutions can electronically enable a critical mass of supplier content through a single point of integration into a customized e-commerce Web site. Supplier content is made available through the SciQuest Supplier Network, a neutral platform consisting of over 1,000 multi-commodity suppliers. Purchasing departments can encourage contract utilization by configuring supplier content to promote preferred suppliers and highlight best buys. End users create an electronic purchase request by searching for and selecting product, eliminating paperwork and reducing data entry errors.
Combining the information, systems, online services, and communication features of both solutions enables an institution's purchasing and accounting professionals to work more efficiently with the product and service providers that support operations.
"By integrating our best-in-class solutions for procurement and finance, SciQuest and SCT can deliver even more value to our current clients, while offering a comprehensive solution to prospective customers," said Dorrian Porter, vice president of higher education for SciQuest. "We look forward to working with SCT to develop and sell this solution and further supporting the adoption of e-procurement in higher education."
The new HigherMarkets for SCT Banner solution is scheduled to be available in January 2004 and will include a HigherMarkets e-procurement adapter developed for the new SCT Luminis Data Integration Suite. Information on SCT technology integration and the Luminis Data Integration Suite can be found in the "What's New" section of
About SCT
SCT is the leading global provider of e-education technology solutions for institutions of all sizes and levels of complexity. The Company supports more than 1,300 client institutions worldwide with administrative and academic solutions, portal and community solutions, content management and workflow solutions, information access and integration solutions, and professional services. SCT works collaboratively with clients and partners to provide the e-Education Infrastructure that enables institutions to create the digital campuses that fulfill their unique missions. For more information visit
About SciQuest
SciQuest provides technology, services and domain expertise to optimize procurement and materials management for the life sciences, higher education and industrial research 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. For more information about SciQuest, please visit or call +1-919-659-2100.
SCT, SCT Banner, and the SCT logo are either registered trademarks or trademarks of Systems & Computer Technology Corporation. SciQuest and HigherMarkets are registered trademarks or trademarks of SciQuest, Inc. All other product and company names referenced herein are used for identification purposes only and may be trademarks of their respective owners.
The matters discussed in this press release that are forward-looking statements are based on current management expectations that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Potential risks and uncertainties include, without limitation, continued market acceptance of SCT's products and services; the ability of SCT and HigherMarkets to market innovative products and enhancements cost-effectively and on a timely basis; the ability of SCT and HigherMarkets to successfully integrate their respective products; competitive and pricing pressures in the markets that SCT serves; SCT’s ability to develop and market innovative products, enhancements and services cost-effectively and on a timely basis; the ability of SCT to attract and retain highly skilled technical, managerial, sales and marketing personnel; general economic conditions; and other risks and uncertainties more specifically set forth in SCT's filings with the Securities and Exchange Commission.
Likewise, SciQuest 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 SciQuest's Quarterly Report on Form 10-Q for the period ended June 30, 2003, filed with the Securities and Exchange Commission, under the caption "Factors That May Affect Future Results."
CONTACT:
SCT Investor Relations:Eric Haskell
610.578.5175
/ SCT Media Relations:
Laura Kvinge
801.257.4158
SciQuest Investor Relations:
Suzanne Miglucci
919.659.2100
/ SciQuest Media Relations:
Amber Link
919.659.2146
121 September 2003
From