Savignano Rejoins Ketera as CEO to Accelerate Product Innovation and Growth

Santa Clara, Calif., February 08, 2008 - Ketera, the leading provider of On Demand Spend Management solutions, today announced that the company's founder, Steve Savignano, has been appointed as the new chief executive officer. Savignano will replace Burton M. Goldfield who joined the company as CEO in April of 2006. Previously, Savignano served as CEO of Ketera from 2003 to 2006 and helped build the company's team and strategy as a leader in the global Enterprise Spend Management market. Having served as a member of Ketera's board of directors during the interim, he will now assume the CEO position to evolve the company's growth strategy and accelerate product innovation in the Enterprise Spend Management market. Savignano's transition to CEO of Ketera will be effective immediately.

"The global market for Enterprise Spend Management solutions is experiencing healthy growth, and to date, Ketera has had great success by delivering business value to customers with its on demand offerings," said Goldfield. "With Steve's extensive experience in software technology innovation and his vision for the market, I'm confident he will lead Ketera through its next phase of growth and into a dominant marketplace position."

"I'm excited to step back into a leadership position and expand on the success Ketera has achieved to date as a leader in the on demand spend management market," said Savignano. "Burton has done an exceptional job building the team at Ketera and reaching key corporate milestones, achieving both GAAP profitability and cash flow positive performance in the fourth quarter of 2007. Ketera is poised for its next stage of significant growth and I'm confident 2008 will be a break-out year for the company as we build on our success and continue leveraging our technology leadership as a SaaS platform to drive innovation across the Enterprise Spend Management market."

"We are delighted Steve will be joining Ketera as CEO and driving the company through its next phase of product innovation and growth," said Ted Schlein, partner at Kleiner Perkins Caulfield & Byers. "Today, SaaS continues to be one of the hottest growth areas in technology and Ketera is poised for explosive growth. We are confident Steve has the vision and the experience needed to expand on Ketera's successes and take the company to the next level."

 

Next Steps

“ We selected the Ketera eRFX tool because it is quick to implement, cost effective and drives efficiencies into the sourcing process.  Its portal design streamlines the communication, document traffic and analysis associated with conducting our RFPs.  The entire Ketera package has allowed us to run more events with fewer resources, leading to increased procurement efficiencies. ” Michael Feeney Vice President, Corporate Procurement for U.S. Bank

“ When using a hard copy or .pdf system to manage our contracts, Luminex would sometimes miss key milestones.With Ketera Contract management we now have full contract compliance and sufficient advanced warning to take the appropriate actions in a timely fashion.  The Ketera solution also has resulted in huge time savings for us; deciphering language in a contract used to take us hours, now it takes us minutes. ” David Mendoza Director, Strategic Planning and Business Development Group for Luminex

“ We recognized an opportunity to enhance our purchasing process with state–of–the–art technology – without the up–front investment and ongoing resource commitment associated with the implementation of enterprise software. ” Mitch Platt VP Contract Services for Con-way

“ Ketera′s on demand solution is ahead of the competition – we will be able to implement the solution in weeks and we never have to worry about taking the system down to install upgrades or make changes. ” Steve Kenny Vice President Risk Management and General Services for Columbia Credit Union

“ From the beginning, Ketera explained everything to us, both from the technical and sales side. They′ve accommodated our needs and have been very helpful and responsive. ” Michael Kapeles Senior Supply Manager for Cabot Microelectronics

“ Not only does Ketera provide innovative solutions for spend management, they also offer high quality professional services that let you get the most from their solutions. Working with Ketera is like a breath of fresh air. ” Nick Walker Procurement Manager for BTP

“ Ketera's new solution is really an amazing innovation that will revolutionize the purchasing industry. ” Dian Trosclair VP of Supply Chain Management for ServiceMaster

“ Using Ketera, we've lowered our costs and improved our compliance with negotiated corporate contracts. By buying on contract, we typically see a ten percent reduction in cost. ” Jim Cebula Director of Global Purchasing for Kennametal

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