IQNavigator Touts Growth In 2008
Services procurement provider saw 52 percent revenue growth as new customers signed up, existing clients expanded spend under management

By Editorial Staff
Denver, CO – March 3, 2009 – Services procurement specialist IQNavigator is touting its 2008 results, pointing to a 52 percent increase in revenue over 2007 on the back of new additions to its client base and an increase in spend under management across its customers.

Many of the new client wins were driven by replacements of first generation solutions which the clients had outgrown. In addition, the company saw an average growth of more than 90 percent in spend under management at existing clients using IQNavigator’s Managed Service Provider (MSP) solution.

IQNavigator said that it currently manages more than $5.7 billion in annual services spending, with 32 percent of the spend across a range of non-time and material based service categories such as consulting, outsourcing and statement of work-based deliverables. With 36 percent of spend occurring outside of the U.S., IQNavigator now supports users in more than 90 countries.

Backed by the June 2008 capital investment of private equity firm GTCR Golder Rauner, IQNavigator said that its plan to invest in a market consolidation strategy along with its strong cash reserves, zero debt, operating profitability and positive cash flow together creates a stable, long-term choice for customers.

“Organizations turn to IQNavigator because they know we have a proven track record of producing unprecedented business results and cost savings,” said John P. Raeder, Jr., president and CEO, IQNavigator. “Today’s competitive economy has further magnified the benefits that services procurement programs create on an enterprise-wide level.”