SOURCE: IQNavigator

October 09, 2007 09:02 ET

Independent Research Firm Names IQNavigator as a Leader in the Rapidly Growing Services Procurement Software Market

IQNavigator "Topped the Field in Services Procurement"

DENVER, CO--(Marketwire - October 9, 2007) - IQNavigator, a leading provider of service procurement software and managed service programs, today announced that it was highlighted by Forrester Research for services procurement in a September 17, 2007 report titled, "Services Procurement Grows Despite Obstacles," by Andrew Bartels. The report states, "For companies that consider temporary workers to be just one of many unique services that they buy, a services procurement product will provide the best fit."

"IQNavigator is a services procurement specialist and a Leader in that category in our Forrester Wave evaluation of eProcurement solutions in the second quarter of 2007," wrote Andrew Bartels, Vice President, Principle Analyst, Forrester Research.

This recognition follows the April 20, 2007 report titled, "Forrester Wave™: eProcurement Solutions, Q2 2007," by Andrew Bartels, in which IQNavigator received the highest score in current offerings for services purchases. The report states, "IQNavigator topped the field in services procurement, thanks to a product that the company has tailored specifically for this function."

According to the Forrester Research report, "Services Procurement Grows Despite Obstacles," "a typical large enterprise spends millions to hundreds of millions and even billions of dollars on services providers each year, which can represent anywhere from 30% to 70% of its purchases from outside suppliers." The report states that "compared with services purchases, goods purchases are a model of simplicity." Forrester also stated that "services have three unique attributes that require a different approach than a standard eProcurement solution."

By leveraging the IQNavigator Software-as-a-Service (SaaS) platform to source, procure, receive and pay for complex services, enterprise organizations can realize millions of dollars in cost savings and provide performance visibility into all spend across every business unit.

"We work with some of the most forward-thinking global organizations to shape and execute upon their strategic initiatives for service procurement," said John P. Raeder Jr., President and CEO, IQNavigator. "We are pleased that Forrester Research shares our vision for a solution that re-captures excess spending, ensures compliance and brings full control to the procurement of all types of services."

About IQNavigator

Founded in 1999, IQNavigator provides on-demand Services Procurement software and services solutions to global 2000 companies such as The Bank of New York, Entergy, Shell, Northrop Grumman, Sony Electronics, and Alcatel. The company's award-winning suite of integrated applications enables companies to increase profitability by reducing and controlling costs for all types of outside services spending worldwide. Headquartered in Denver, Colorado, IQNavigator has a successful track record of delivering a fast return on investment, adaptable process control and enterprise-wide financial analysis for enhanced business performance. For more information visit www.iqnavigator.com.

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