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| Ketera Achieves Record Growth in 2007 |
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Company Continues to Grow with Product Innovation and Increased Customer Acquisition
Santa Clara, Calif., January 30, 2008 –
Closing out another year of strong corporate momentum and successful product innovation achievements, Ketera, the leading provider of On Demand Spend Management solutions, today announced it achieved record growth in 2007.
Most notably in 2007, Ketera had great product innovation success launching Ketera Supplier Connect, the first–ever Supply Base Management solution that delivers end–to–end support for key supplier lifecycle processes to both buyers and suppliers. The company also continued to demonstrate clear market leadership by achieving a 95 percent customer renewal rate and by expanding its footprint with several existing enterprise customers. As a result of this strong corporate and product momentum, Ketera became cash–flow positive in the fourth quarter of 2007 and finished the year with record growth.
The 2007 launch of Ketera Supplier Connect continued to advance the state of the practice for the spend management industry by optimizing the overall effectiveness that eProcurement solutions can deliver to enterprise organizations. By providing a buyer–controlled environment to manage suppliers at the front end of the supplier relationship, and extending support for key supplier–facing processes throughout the entire supplier lifecycle, Ketera now provides the highest level of spend management integration available in the market today.
Ketera also continued to maintain a 95 percent customer renewal rate, while acquiring new customers and expanding sales within its existing enterprise customer base. During 2007, the company signed a total of nine new Global 2000 enterprise customers across multiple new industries, including advertising and media, diversified manufacturing, and financial services. Convergys Corporation, the global leader in relationship management, selected Ketera’s entire platform of enterprise spend management solutions to help it achieve procurement excellence across its global operations.
In addition to reaching the cash–flow positive milestone in the fourth quarter of 2007, Ketera surpassed $17 trillion in spend analyzed and more than $2 billion in transactions processed between buyers and suppliers, further demonstrating the expanding market need for its on demand spend management solutions.
Other key milestones for Ketera in 2007 included:
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Launching Spend Analysis 5.0, a next generation on demand solution that provides customers with complete and accurate visibility into their corporate spend to help them identify additional cost savings. |
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Achieving the “Powered by SAP NetWeaver®” certification for Ketera’s entire platform of on demand spend management solutions. |
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Receiving numerous industry accolades for its product and customer achievements including: Red Herring’s 100 Global 2007 award, Software Magazine’s 25th Annual Software 500 award, Deloitte’s Technology Fast 50 award for Silicon Valley Software & Information Technology Companies, Supply & Demand Chain Executive’s Pros to Know and 100 awards, and the Nucleus ROI award with customer, Barrick Gold. |
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“Ketera’s success in the marketplace highlights the larger trend of procurement organizations playing an increasingly strategic role within the enterprise,” said Andrew Bartolini, vice president of global supply management research, Aberdeen Group. “Our recent research has shown that enterprises that utilize on demand supply management solutions, on average, achieve higher end–user adoption and impact a larger percentage of their total spend.”
“2007 was another successful year for Ketera in terms of our continued product innovation, increased customer adoption and strong market leadership,” said Burton M. Goldfield, chief executive officer, Ketera. “In the past year, we brought to market a uniquely new, fully–integrated supply base management solution that challenges the existing models for supplier enablement and supplier network solutions. We also had tremendous customer momentum throughout the year and as a result, we achieved cash–flow positive success for the first time in the company’s history. Looking ahead to 2008, we’re excited to raise the bar even higher and help more enterprise organizations gain greater business value from our entire platform of enterprise spend management solutions.”
About Ketera
Ketera is the fastest–growing provider of On Demand Spend Management solutions, providing companies with the applications and services needed to control and reduce corporate spending. Ketera’s closed–loop spend management solutions include applications for spend analysis, sourcing, contract management, procurement, supplier enablement & content management, supplier performance management, and invoice management.
Since its inception, Ketera has supported enterprise customers of all sizes, industries and geographies, including numerous Fortune 500 companies. In 2007, Ketera surpassed $17 trillion in spend analyzed and more than $2 billion in transactions processed between buyers and suppliers. Many of the world’s leading enterprise companies, including ServiceMaster, American Express, Kennametal, Con–way, and Northrop Grumman Corporation, depend on Ketera Spend Management to deliver real, hard–dollar savings quickly.
For more information about Ketera and the Ketera Spend Management suite of services, please visit: http://www.ketera.com.
For more information:
Amy Wall
Voce Communications, Inc.
650–228–5182
awall@vocecomm.com |
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