Press Releases

IQNAVIGATOR DRIVES DOWN COSTS OF SERVICES SPENDING FOR ALL SERVICE CATEGORIES WITH LAUNCH OF IQNAVIGATOR7
IQNavigator7 introduces Supplier Performance Management capabilities to improve results from procured services

DENVER, Colorado, July 12, 2005 -

IQNavigator, Inc., the leading global provider of services procurement and optimization solutions, today announced the debut of IQNavigator7 , the premier enterprise services procurement solution. IQNavigator7 introduces new functionality to optimize the services supply chain, reducing costs of services for all service categories such as outsourced/offshore projects, facilities management, marketing projects, field services, IT services, and contingent labor. The new version classifies requisitions and expenditures by service category to facilitate enhanced spend analysis capabilities, allowing users to discover trends and drill down to details for ongoing cost savings and spending optimization.

"IQNavigator7 will provide enhanced visibility to our services spending so we can gain better control and ultimately optimize our spending in this area," said Vilia Valentine, controller and vice president of finance, Verio, an NTT Communications company. "We selected IQNavigator due to their strong expertise and deep knowledge in multiple service categories, as well as their ability to provide significant cost savings quickly and easily."

In addition, IQNavigator7 addresses all levels of supplier performance to drive supplier behavior and results. Providing both quantitative and qualitative performance measurement capabilities, IQNavigator7 offers customers the ability to derive maximum value from their supply base and link supplier performance measures to strategic business objectives. IQNavigator7 tracks key performance indicators (KPIs) through online supplier evaluations and provides deep contracting and invoicing functionality including service level agreements (SLAs), ensuring continual supplier performance improvement.

"IQNavigator7 takes another step toward maximizing ROI for companies in an area that's often overlooked or underestimated -- services spending. Going beyond just tactical spend management, IQNavigator customers can evaluate and align suppliers' performance with their business objectives to negotiate contracts, enforce SLAs, and get real returns," said Rebecca Wettemann, vice president, Nucleus Research.

"IQNavigator7 continues IQNavigator's innovation and thought leadership in the services procurement field," remarked John P. Raeder, Jr., IQNavigator president and CEO. "Even more importantly, IQNavigator continues to increase value delivered to customers, through IQNavigator7 's next-generation product capabilities, comprehensive best-practices services that deliver benefits quickly, and automatic no-cost upgrades through Software as a Service."

Key functionality within IQNavigator7 includes:

  • Configurable Support for All Types of Purchased Services: IQNavigator7 allows customers to configure workflows, business rules, and data fields by service category, to match the unique requirements of each service category and optimize spending.

  • Supplier Performance Management: IQNavigator7 tracks service-level metrics, performance evaluations, and quality measures to provide a comprehensive picture of supplier performance.

  • Spend Analysis: IQNavigator7 offers nearly a hundred out-of-the-box reports, configurable dashboard KPI graphs, and a wizard-driven custom reporting tool to enable users to analyze and investigate spending trends and opportunities.

  • Global Software Platform: IQNavigator7 provides comprehensive end-to-end procurement functionality, with simple integration with existing enterprise systems and infrastructure, allowing customers to gain compliance and visibility into services spending throughout the global enterprise.

    Providing significant cost savings and compliance benefits quickly and easily, IQNavigator7 enables the strategic and tactical management of outside services to continually reduce the costs of services spending and improve overall business results.

    About IQNavigator
    Founded in 1999, IQNavigator provides services procurement and optimization solutions to Fortune 500 companies such as Entergy, Shell, Northrop Grumman, Sony Electronics, Verio, Schlumberger and Alcatel. 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.