Services Procurement Leader Increases Profitability, Attains 28th Straight Quarter of Revenue Growth
DENVER, Colorado, February 5, 2007 - IQNavigator, Inc., the leading provider of Services Procurement software and services, announced today that 2006 marked the seventh consecutive year of growth. These results were based in large part on very strong expansion of IQNavigator's Fortune 500 client base coupled with strong organic growth within its existing clients. With billions of dollars in services spend processed through the IQNavigator system annually, IQNavigator operates in nine countries and is aggressively expanding its footprint globally.
"2006 was a very good year for our sector and an even better year for IQNavigator," said John P. Raeder, Jr., president and CEO of IQNavigator. "Our accomplishments in 2006 are a reflection of our world-class customer base, staff, and services procurement solutions. We continued to expand the types of services that our solution manages for customers, such as legal services, call-center outsourcing, and training services. The bottom line is that our company's strategy, execution, and solutions have outpaced the industry and have firmly established our market leadership position in Services Procurement."
In 2007, IQNavigator is well positioned to build on the results it has delivered over the past year with more then $100M in revenue backlog to fuel its growth. Accordingly, the company also plans to continue to increase its investment in its award winning technology platform, staff and the IQNavigator service delivery model. Based on its proven business model and recurring revenue stream, the company will experience another year of 50 percent revenue growth in 2007, aided by strategic alliances that include the world's largest staffing companies, procurement and human resource consultancies and business process outsourcers.
"Our service delivery model enabled by our Software-as-a-Service (SaaS) platform is the next generation in the evolution of software delivery. This strategy has been a critical factor in the expansion of our client base," said Raeder. "We're extremely gratified by how our clients continue to drive value and measurable results through our solutions as they expand use into new categories of services spend around the world."
About IQNavigator
Founded in 1999, IQNavigator provides Services Procurement software and services solutions to Fortune 500 companies such as The Bank of New York, Quad/Graphics, 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.
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