RESEARCH TRIANGLE PARK, N.C., Jan. 4, 2017 /PRNewswire/ -- SciQuest, the world's most powerful and comprehensive Source to Pay solutions suite, finished 2016 with the strongest financial and business position in the company's 22-year history. SciQuest ended the year with its highest revenues ever and over 50 new customers, while remaining the market leader in higher education. SciQuest also expanded extensively into new commercial market sectors including transportation, manufacturing and consumer packaged goods, with many contracts for multiple suite solutions in all industry sectors.
As the number one choice in higher education, SciQuest solutions are being used by over 280 major colleges and universities worldwide. 30 new schools and school systems customers selected SciQuest, including SUNY, Utah Valley University, Liberty University, Florida State University, Loyola University of Maryland, Macquarie University of New South Wales, University of Auckland and the University of Warwick in the United Kingdom.
SciQuest crossed the business expansion threshold in 2016, with over 50% of the customer base now in commercial; this includes manufacturing, consumer packaged goods, and transportation. Significant customers include Starbucks, Levis, Kimberly-Clark, Safeway, J.M. Smucker and Rite-Aid.
The SciQuest Select Partner program was launched in 2016 and has already yielded nearly ten new customers in the commercial and higher-education sectors, further proof of success with the company's business expansion plans. Partners in this new program include Denali, The Hackett Group, E&I Consulting, Huron Consulting Group, among others.
"The depth and breadth of our solutions is unmatched in the marketplace. We are now coupling customer feedback with market analysis, and our focus is to provide the most complete, user friendly Source to Pay suite available for any business needs, from simple to complex. Our goal in 2017 to become the dominant spend management solutions network, across multiple industries," says Robert Bonavito, SciQuest CEO.
About SciQuest Inc.
SciQuest's powerful, comprehensive and complete spend solutions suite enables commerce between any businesses, anywhere. We pioneered spend solutions over two decades ago and have continued to lead the innovation curve by listening to customers and analyzing the market. Our solutions suite is trusted by the world's largest higher education, commercial and life sciences companies that collectively form a network with billions of dollars in annual spend. SciQuest's SaaS based, Source to Pay solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of business needs, from sourcing to spend analysis, through contract management and AP. SciQuest has set the industry standard for the most adaptable, comprehensive, spend solutions suite.
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