SOURCE: IQNavigator

March 04, 2008 10:01 ET

IQNavigator Announces Extraordinary Results in 2007, With Accelerating Growth Driven by Broad-Based Demand

DENVER, CO--(Marketwire - March 4, 2008) - IQNavigator, the leading provider of service procurement software and managed service programs, announced record results in 2007, with revenues and bookings accelerating each quarter, ending with Q4 revenue growth of 71% over Q4 in 2006. IQNavigator's outperformance in 2007 is attributed to strong demand from Global 2000 companies across multiple types of services categories; increasing global demand with expansion into a total of 17 countries in 2008; and multiple new partner-led opportunities, including leading procurement BPO providers. Driven by expansion by existing customers into additional services categories (e.g., offshore/outsourcing, professional services, print/marketing, legal, and facilities spending) and a record number of new customer contracts, IQNavigator has attained $3.5 billion in spending under contract.

"I'd like to thank our marquee clients, partners, and staff for another outstanding year in 2007. We beat every core metric and our results are a testament to our company's strategic vision, global solution, and execution across the board," said John P. Raeder, Jr., President and CEO of IQNavigator. "Our primary business objective is profitable growth, and we're forecasting 55-60% revenue growth in 2008 with 95+% visibility from our proven, recurring revenue business model."

IQNavigator continued its market reach globally in Europe and Asia-Pacific, with 31% of services spending processed by IQNavigator coming from outside the United States. The company's fully localized global solution allows Global 2000 organizations to expand beyond contingent workforce management to drive enterprise-wide financial, operational, and strategic decisions that link services expenditures to value delivered and vendor performance, globally. The IQN8 release also enables self-service integrations with other ERP business applications, additional real-time decision support tools and management reporting, and greatly increased customizability of the user interface.

"As the market continues to mature and consolidate, clients increasingly depend on IQNavigator to provide compelling solutions that drive cost savings and better governance globally. Our next-generation software and managed service programs have allowed us to win marketshare by replacing legacy staffing programs and point solutions that cannot scale," said Raeder. "As the evolution of services procurement continues to unfold, we are poised to deliver our customers flexible solutions to meet both the needs of today and the challenges of tomorrow."

About IQNavigator

Founded in 1999, IQNavigator provides services procurement and optimization solutions to Fortune 500 companies such as Charles Schwab, Shell, Northrop Grumman, Sony Electronics, Alcoa, Schlumberger, Quad/Graphics, and Entergy. 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. IQNavigator has a successful track record for delivering a compelling and fast return on investment, as well as adaptable process control, enterprise-wide financial analysis and enhanced performance. The company is recognized as an industry pioneer and offers deep domain expertise in key market segments such as financial services, energy, healthcare, manufacturing and aerospace/defense. IQNavigator is headquartered in Denver, Colorado, and is found on the Web at www.iqnavigator.com.

Contact Information

  • Press Contacts:
    Ashley Schmidt
    IQNavigator
    303-563-1603
    Email Contact