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| Ketera Solutions Reach $170 Billion in Annual Spend by 15,000 Users with 650,000 Unique Suppliers |
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Ketera Supplier Network Exceeds $750 Million in Transactions across 25,000 Participating Suppliers
Santa Clara, Calif., May 31, 2005 – Ketera (www.ketera.com), the leading provider of on demand spend management solutions, today announced that it has reached $170 billion in annual spend by 15,000 users with 650,000 unique suppliers. Drilling into one solution area, Ketera reports that its Supplier Network has supported and enabled transactions exceeding $750 million across 15,000 users and 25,000 participating suppliers. These milestones highlight Ketera′s continued success in creating tools and services that seamlessly integrate with other procurement systems and enable customers to better manage and lower costs in the procurement and supplier enablement process.
Ketera′s 15,000 users, from major Fortune 1000 companies such as Delta Airlines, The Gap, CNF, Northrop Grumman, Kennametal, and Maytag access Ketera′s Supplier Network to increase adoption of the procurement system in order to reduce maverick spend by employees, and to gain real–time and cost–effective management of supplier catalogs and negotiated pricing.
Furthermore, Ketera′s Supplier Network provides well–known vendors such as CDW and OfficeMax with access to and visibility into more than 15,000 enterprise buyers – many of whom are part of the Fortune 1000.
"We′re pleased with our customer and vendor traction so far in 2005," said Steve Savignano, CEO of Ketera. "With each new supplier we add to the Supplier Network, the set of supplier options available to our customers through this streamlined procurement process is increased. At the same time, suppliers benefit from Ketera as a high–traffic channel for additional revenue."
In addition to Ketera′s suppliers, the company has had long–standing, strategic partnerships with IBM (www.ibm.com) and American Express (www.americanexpress.com).
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 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.
Ketera is an IBM business partner, providing technology for IBM Leveraged Procurement Services, an e–Business On Demand offering. Located in Santa Clara, Calif., Ketera is a private company funded by American Express. Other investors in the company include Kleiner Perkins Caulfield & Byers and Foundation Capital. For more information about Ketera and the Ketera Spend Management suite of services, please visit www.ketera.com.
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