Even though they've remained incredibly focused on just two key verticals -- higher education and Pharma/biotech -- SciQuest has quietly built out a top notch customer list in the past few years. While I'm not one to link to rah-rah press releases such as this one, it's clear that I've not written enough about SciQuest, certainly because of this narrow industry focus. Still, their growth warrants attention and proves that there is room for industry specialists in the Spend Management market today. Consider how they now have nearly 65% of the top fifteen Pharma companies as customers as well as many of the country's largest universities. Not bad, for a company that dot-bombed out of the market and got a second chance. I hope to share some of the Spend Management nuances of higher education and Pharma throughout the year, as both audiences become increasingly aware of the need to reduce costs in the emerging, tougher financial climate (and as more blockbuster drugs come off patent, in the case of Pharma, as well).
- Jason Busch