SOURCE: IQNavigator, Inc.

IQNavigator, Inc.

February 24, 2011 12:01 ET

IQNavigator Closes 2010 as a Leader in Services Procurement; Forecasts Continued Growth and Innovation for 2011

2010 Highlights Include 30 Percent Growth, Analyst and Partner Accolades, Enhanced Data and Analytics Capabilities

DENVER, CO--(Marketwire - February 24, 2011) - IQNavigator, Inc. is marking the end of a successful year that has strengthened the company's leadership position in the services procurement and contingent workforce solutions market. During 2010, IQNavigator's industry-leading product, strong management team and market-leading product investment and innovations combined to achieve revenue growth of almost 30 percent over the prior year. IQNavigator also earned industry accolades for its Vendor Management System (VMS) software, including the highest scores for both the Current Offering and Strategy categories in Forrester Research, Inc.'s September 2010 independent report, "The Forrester Wave™: Services Procurement, Q3 2010."

"2010 was a very positive year for IQNavigator, first and foremost because the company has put a major focus on delivering a strong return on investment to our customers," said Lou Andreozzi, CEO and president. "For years companies have been looking to more effectively manage their services spend and with talk of a double-dip recession, we are now witnessing an unprecedented cyclical trend of utilizing contingent workforces to effectively meet the economic climate."

Andreozzi added, "We are just getting started, however. IQNavigator will continue to see 2011 revenue growth fueled by some of the marquee client wins of 2010, our partner strategy, as well as international expansion. In addition, 2011 will bring a renewed focus on innovation and customer-focused initiatives for IQNavigator. One of the most exciting things we will do this year is reinvent the way that we provide business intelligence and reporting to our customers. These new data and analytics capabilities have been garnering exceptional feedback from customers in both client summits and customer meetings."

IQNavigator's expanded analytics capabilities are already generating results for clients, who can now access market rates across all temporary labor skill sets. In addition, IQNavigator's new data visualization capabilities received an award for "Most Innovative Embedded Product" from its visualization partner, Pentaho.

"Last year we released the first and only iPhone app in our industry, and our focus on innovation will accelerate even more in 2011," said John F. Martin, chief operating officer. "Clients who really evaluate their software options find meaningful differences and advantages in the IQNavigator services procurement platform, and tend to choose IQNavigator for our leading feature set, architecture, and ongoing innovation."

About IQNavigator
IQNavigator is the leading provider of services spend management software and managed services that enable global companies to gain visibility and control over a significant and strategic corporate spend category. With proven domain expertise and innovative technology solutions, IQNavigator helps turn complex services spend into a new source of value, competitive advantage and continuous bottom-line improvement. For more information, visit

Editor's note: For interviews with CEO and President Lou Andreozzi or with Chief Operating Officer John F. Martin, please contact Downing Street.

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