SOURCE: ICG Commerce

March 10, 2008 10:00 ET

ICG Commerce Drives Strong Growth in 2007

Record Growth Propelled by ICG Commerce's Commitment to Helping Customers Achieve Results

PHILADELPHIA, PA--(Marketwire - March 10, 2008) - Leading procurement outsourcing specialist ICG Commerce today announced another year of record growth in 2007. The company has grown revenue 30+% year over year for the past three years. This growth was fueled by a continued track record of delivering exceptional service that includes meeting 100% of its savings commitments to customers. This results-driven focus enabled the company to achieve an unprecedented renewal rate, extending all four major contracts up for renewal in 2007, including The Goodyear Tire and Rubber Company, Cameron, Greif, Inc., and a global technology giant. In addition, these results and strong customer references also helped the company establish new relationships with Chiquita Brands International, with a global life sciences company, and with several other leading companies.

Procurement outsourcing is a growing trend among leading companies that are looking to drive meaningful bottom-line cost improvements or to fund other growth initiatives. According to a recent report by Everest Research Group, procurement outsourcing delivers five times the savings of other outsourcing endeavors such as IT and Finance and Accounting. As a procurement outsourcing specialist, ICG Commerce's proven ability to help its customers deliver multi-year, multi-million dollar cost reductions is evidence of the substantial impact that can be realized through procurement BPO.

"ICG Commerce's relationships with companies such as Goodyear, Greif and Chiquita are examples of how leading companies are looking to specialist procurement outsourcing providers to help them focus on their core competencies and improve financial results," said David Tapper, Vice President, Outsourcing Services Research, IDC.

In addition to expanding customer relationships, the company also grew its global footprint to meet additional needs of its customers. The past year gave rise to a significant expansion of ICG Commerce's infrastructure in Asia, with the opening of a new office in Shenzhen, China to support low cost country sourcing. The company also continued to build upon its European Center of Excellence to support global relationships with customers such as Kimberly-Clark and Chiquita.

ICG Commerce's demonstrated ability to deliver value to its customers has enabled year-over-year growth that continues to outpace the market. "We look forward to another year of strong growth and expanded global presence as we remain committed to helping our customers change the way they manage their spend," said Carl Guarino, CEO of ICG Commerce.

About ICG Commerce, Inc.

ICG Commerce (www.icgcommerce.com) is the leading procurement outsourcing specialist delivering comprehensive source-to-pay as well as strategic sourcing services. Results-driven leaders access ICG Commerce's experienced resources and market intelligence to better manage procurement and logistics spend, gaining significant savings and enhanced visibility and control.

ICG Commerce is a privately held company founded in 1992 and a member of Internet Capital Group's (NASDAQ: ICGE) network of partner companies. The company has earned recognition from Forbes, Fortune, The International Association of Outsourcing Professionals (IAOP) and leading industry analysts for its leadership in procurement outsourcing.

Contact Information

  • Contact:

    Shannon Parish
    ICG Commerce
    +1-484-690-5446
    Email Contact