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| Ketera′s Global Mid–Market Momentum Demonstrates On Demand Spend Management Solutions Deliver Value Beyond the Enterprise |
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Mid–market companies automate their contract management, spend analysis, and purchasing processes for a fraction of the cost
Santa Clara, Calif., August 24, 2005 – Ketera (www.ketera.com), the leading provider of on demand spend management solutions, today announced that mid–market leaders selected Ketera′s on demand spend management solutions to increase productivity, ensure compliance, improve supplier relationships and control costs – ultimately delivering bottom–line savings to their customers.
Such global mid–market companies span all industries, including Government: British Transport Police (www.btp.police.uk); High Tech Services: Horizon Associates (www.horizonassociates.net); Retail: ABC Distributing, LLC (http://www.abcdistributing.com); Telecommunications: Ciena (www.ciena.com); Financial Services: GMAC Commercial Mortgage (www.gmaccm.com); Chemical: Cabot Microelectronics (www.cabotcmp.com).
"Ketera is already a market leader in providing on demand spend management to the enterprise market, and is gaining momentum in the mid–market as well," said Laurie McCabe, Vice President, SMB Insights and Business Solutions, at AMI Partners. "The Ketera solution implements within weeks, provides ROI within months – with a solution fee that is less than half of that of traditional software installation models. It′s a good fit for pragmatic mid–market companies that need tangible returns on their business solution investments."
According to a recently published Aberdeen analyst report titled "Filling the Gaps in Your Supply Management Infrastructure," a mid–market boom is "on the horizon."
"The mid–market missed out on – and bore the brunt of – the first wave of supply management improvements," said Tim Minahan, SVP, Global Supply Management Research, Aberdeen Group, Inc. "With continued pressures to improve performance and reduce costs, sourcing, procurement, and supply management initiatives and automation investments are now not only a priority but a necessity for mid–market companies. Aberdeen′s benchmarks indicate that more than half of mid–market companies plan to invest in on demand solutions and services to improve supply management operations."
"We had the Ketera on demand spend management solution operationally implemented within weeks of purchasing the solution," said Nick Walker, Procurement Manager of BTP. "Because Ketera offers its solution as on demand software services, BTP can count on innovative new services and functionality in the future ensuring constantly updated best practices."
Continued pressures for companies to cut costs and improve bottom–line performance have elevated the strategic importance of spend management. Ketera′s on demand spend management solutions alleviate this pressure by creating a "source–to–pay" loop for identifying, capturing and sustaining bottom–line savings with spend analysis, sourcing, procurement, contract management and supplier performance. These solutions provide a low–risk, low–cost way for enterprise and mid–market customers alike to rapidly deploy on demand spend management.
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.
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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