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The most–promising technology ventures will be honored at the Red Herring Spring 2006 CEO Summit
Santa Clara, Calif., April 05, 2006 – Ketera, the leading provider of On Demand Spend Management solutions, today announced the company is one of the top 200 contenders for the annual "Red Herring 100 North America" list. Well over 1,000 privately held technology companies submitted to this year′s edition of the prestigious award, giving evidence to the invigorated innovative and entrepreneurial strength of the technology ecosystem.
"We can see the resurgence of the tech sector reflected in the quantity and variety of excellent companies that we had to chose from in putting our list together," said Joel Dreyfuss, Editor–in–Chief of Red Herring. "It was difficult to choose the 200 finalists and we are very happy with the stellar quality of the companies on this short–list."
Ketera′s selection to the Red Herring 100 finalist list was based upon its success in helping to lead the on demand revolution. By innovating cost–effective spend management solutions that reduce and control corporate spending for mid and large size enterprises alike, Ketera has achieved record growth over the past year by adding and renewing Fortune 500 companies to its customer base, and doubling its mid–enterprise growth. In 2005, Ketera also reached nearly $4 trillion in annual spend processing for its customers, demonstrating the explosive market call for on demand spend management solutions.
The "Red Herring 100 North America" award is an important part of Red Herring′s tradition of recognizing new and innovative technology firms and their entrepreneurial founders. Ketera and the other nominees were rigidly evaluated on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their ecosystem. This unique assessment of potential complemented by a review of the actual track record and standing of a company allows Red Herring to see past the "buzz" and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.
As part of this tradition to honor innovation and entrepreneurship in the business of technology, Red Herring will again host "Red Herring Spring," a two–day, invitation–only summit for the CEOs and founders of the Red Herring 100 winners and finalists in Monterey, California. The summit′s C–level attendees will convene under the theme "The Pursuit of Disruption" to discuss major trends and opportunities and to explore partnerships, alliances, investments, and M&A activities. Further information regarding the event and how to register is available at http://www.herringevents.com/rhspring06.
About Ketera
Ketera is the leading provider of on demand, spend management solutions, providing companies with the applications and services needed to control and reduce corporate spending at a low cost of ownership.
Ketera Spend Management includes applications for spend analysis, sourcing, procurement, contract management, supplier performance and payment and reconciliation. The Ketera difference is our on demand delivery model, which combines hosted spend management applications with the "heavy lifting" services required for success, including supplier enablement, hardware infrastructure, project resources, system administration and solution upgrades.
For more information about Ketera and the Ketera Spend Management suite of services, please visit www.ketera.com.
About Red Herring
Red Herring is a sophisticated insider′s guide to the business of technology, featuring unparalleled insights on the emerging technologies driving the economy, from the Internet to wireless communications and digital entertainment. Red Herring reports on how innovation and entrepreneurship are transforming business and how the business of technology is transforming the world, providing readers with a deep understanding of venture capital and capital markets. Recognized as an essential resource in today′s fast–changing business world, Red Herring gets the right answers before anyone else even thinks to ask the questions. More information on Red Herring is available on the Internet at www.redherring.com |
