San Jose, Calif., May 6, 2009 - Ketera, provider of leading On Demand Spend Management solutions and the fastest growing community of buyers and suppliers with more than 250,000 members, today announced metrics demonstrating strong momentum, including adding over 1,400 new suppliers to the Ketera Network in Q1 2009. Additionally, the company added 26 new customers and enjoyed 100% renewal in customers and revenue across its broad Spend Management product suite. Q1 2009 is also the 3rd consecutive quarter that Ketera has run a cash flow positive business. These achievements highlight the growth of an ecosystem that processed more than $4 billion USD worth of transactions and analyzed approximately $1.7 trillion USD of spend in 2008.
Ketera Chairman and CEO Steve Savignano said, "It's a challenging period in the economic cycle, but this rapid expansion underscores the increased opportunity for buyers to use the system to contain costs and remain competitive. For example, one of our new customers, a billion dollar publicly-traded company, saved over $150K in their first sourcing event, and it only cost them $39.99 to subscribe to the service. At the same time, our supplier customers have ever greater ability to showcase their offerings to hundreds of thousands of Ketera buyers, browse sourcing events, and receive new leads. As online B2B buying and selling applications continue to become commoditized, Ketera will remain a driver of innovation that brings the many types of rich content found in leading consumer marketplaces to networks for everyday business transactions."
Ketera's Spend Management Suite includes Spend Analysis, Sourcing, Contract Management, Procurement, and Supplier Management solutions to automate and improve operational efficiencies and supply chain efficiency. Ketera's software-as-a-service (SaaS) delivery model offers benefits quicker and without heavy upfront costs.
The Ketera Network is a destination for buyers and suppliers to discover, engage, and transact with each other. It is the only destination site that provides a community of business buyers and suppliers with both tools and community created content to help reduce the costs associated with purchasing and sales.
