IQNavigator Achieves Significant Global Growth in 2011; Leads the Industry in Implementation Success
IQNavigator Continues Fast Revenue Growth, Global Expansion, and Industry Leadership
DENVER, January 27, 2012 – IQNavigator Inc., a leading provider of services e-procurement solutions to Global 2000 companies, achieved a number of significant successes and milestones in 2011 that affirms its global leadership in the Vendor Management System (VMS) and Managed Services Provider (MSP) market. With a record-breaking number of new clients won in 2011, IQNavigator completed more than 50 successful client deployment projects globally during the year and with 10 additional go-lives in January 2012 alone. New customer wins and expansions drove revenue growth 21 percent in 2011, with SaaS software revenue growth of 28 percent.
Noteworthy milestones for 2011 included:
- International Expansion— IQNavigator invested and expanded aggressively in EMEA and Asia-Pacific in 2011, announcing a European partnership with Allegis Group Services and a partnership in China with The Judge Group, hiring a VP-level business development leader in EMEA, expanding the company’s EMEA Support Centre staff and naming John F. Martin CEO of international markets.
- Launch IQ – IQNavigator formalized its industry-leading implementation methodology that ensures client success with complex integrations, global expansions, and enhanced support.
- Product Enhancements—IQNavigator delivered numerous product advancements to clients in 2011 that extended its market leadership, including advanced reporting enhancements, additional SOW/project-based capabilities, and mobile apps.
- Oracle ExadataTM—A multi-million-dollar technology investment, the Oracle ExadataTM database machine now powers IQNavigator’s entire system, including real-time reporting, for unparalleled performance and scalability.
- IQXplorer—IQNavigator launched IQXplorer, an integrated tool enabling business owners and financial analysts to deeply analyze their workforce program data such as spend and headcount.
- IQNdex—Unique in the industry, IQNavigator’s IQNdex is a price index of temporary labor bill rates in the United States, tracked by geography and down to 132 standard job titles. The company launched IQNdex in April 2011 and continues to publish monthly reports of the index. In Q4 2011, IQNavigator expanded IQNdex to the United Kingdom with the launch of UK Office IQNdex.
- Industry Leadership—IQNavigator received numerous industry accolades in 2011, including recognition as the multi-national program leader by Staffing Industry Analysts (SIA) in the firm’s “2011 VMS and MSP Supplier Competitive Landscape” report. IQNavigator was also named as a finalist for two SIIA CODiE awards, which recognize excellence in enterprise software.
- Top Technology Company—Recognized as the “Top Technology Company in Colorado” by ColoradoBiz Magazine for IQNavigator’s community involvement, consistent growth and product innovation.
“2011 was a great year for IQNavigator and 2012 will be even better for the global companies whose services procurement and extended workforce strategies we support,” said Lou Andreozzi, president and CEO of IQNavigator. “We will continue our momentum in 2012 with more technology innovations, continued emphasis on being the easiest provider to do business with and substantial further investment in international markets.”
About IQNavigator
IQNavigator software and managed services provide companies with comprehensive visibility into and control over the way they source services and utilize their extensive non-employee workforce. For more than a decade, IQNavigator has been the leader in providing technology solutions for managing companies’ contingent labor and other services around the globe, including project-based consultants, contractors and other temporary workers. Clients use IQNavigator’s VMS software to more intelligently manage billions of dollars in extended workforce spend every year, resulting in dramatically lower costs, mitigation of legal and financial risks and more strategic use of non-employee labor to achieve key business objectives. For more information about IQNavigator and how its industry-leading offerings such as IQNtelligence are helping many of the world’s most respected companies, visit www.IQNavigator.com.
# # #
For more information, please contact:
Stephanie Burnham
Vice President, Marketing
sburnham@iqnavigator.com
303-714-9213
