Another Record Year Advances Iqnavigator As Services Procurement Solution Leader
Software-as-a-Service Pioneer Reaches Profitability, Attains 24th Straight Quarter of Revenue Growth
DENVER, Colorado, January 30, 2006 -
IQNavigator, Inc., the leading provider of services procurement and optimization solutions, today announced that the company reached both cash-flow and net-income profitability in 2005, fueled by significant organic growth that nearly doubled revenue. IQNavigator achieved its 24th consecutive quarter of increasing revenues, due to the broader IQNavigator7 platform increasing revenue within existing customers, growing partner-driven sales, numerous new customer wins and a predictable recurring revenue business model.
"In 2005, IQNavigator continued to set the standard for growth and customer satisfaction in the services procurement sector, driven by our experienced and knowledgeable management team of software veterans with an average IQNavigator tenure of almost five years," said John P. Raeder, Jr., president and CEO of IQNavigator. "Our IQNavigator7 release significantly broadened our addressable market with multi-category services spend management, supplier performance management and business intelligence. Our market leadership has been proven by multiple competitive take-aways, all based on in-depth solution evaluations."
During 2005 IQNavigator released IQNavigator7, enabling customers to achieve cost-savings and compliance benefits by better managing a wide range of services spending categories such as marketing services, legal spending, field services, and various IT services.
Many IQNavigator customers are also in the midst of multi-country rollouts in Europe and Asia-Pacific, increasing benefits and spending under management with the global IQNavigator7 platform. In addition, business process outsourcing partnerships further accelerated IQNavigator's growth, as these companies continue to find that IQNavigator's best-of-breed platform and Software-as-a-Service capabilities enable them to deliver high-value, fast-return programs to their customers. "IQNavigator's ongoing product expansion, partner-friendly approach, and customer-focused execution have continually increased the value delivered to us during our multi-year relationship," said Robert Quadracci, human resources director for Quad/Graphics.
The IQNavigator product suite automates the end-to-end sourcing, procurement, receiving, and payment processes for all types of services spending, globally. By leveraging IQNavigator's services procurement and optimization solutions, organizations quickly achieve significant cost reductions, gain process efficiencies and ensure compliance with internal policies and procedures. As a "true" Software-as-a-Service solution, IQNavigator customers enjoy a continual stream of new value and capabilities from automatic free upgrades.
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.
