ICGE- in @ .46- perking up
edit
Just found news- must be agreeable w/ mkt
Press Release Source: ICG Commerce
ICG Commerce Continues Strong Growth Path as Procurement Comes 'Front And Center for Delivering Bottom-Line Impact'
Wednesday August 27, 12:52 pm ET
Drive to Deliver Shareholder Value and Flexible Model Help Procurement Services Provider
Add Seven New Customers During Second Quarter, Expand Relationships With Several Others
PHILADELPHIA, Aug. 27 /PRNewswire/ -- ICG Commerce, a leading procurement services provider, today announced key business results for the second quarter. ICG Commerce entered into relationships with seven new customers during the past quarter, including Black & Decker and T-Mobile. In addition to attracting new customers, the company's strong track record of delivering major procurement-related cost reductions helped expand relationships with multiple existing customers, including Borg Warner, AMETEK and The Timken Company.
What separates ICG Commerce from other providers of procurement-related solutions is the comprehensiveness and quality of its infrastructure that provides fully hosted and managed technology and extensive process and category expertise across the entire procurement lifecycle. The flexibility of this infrastructure allows ICG Commerce to deliver services that specifically address each company's needs. Whether looking to achieve cost savings, implement process efficiencies or achieve spend visibility and control, ICG Commerce brings together a combination of people and technology to drive results. The new contracts signed and services delivered during the second quarter entailed strategic sourcing; eSourcing on a full service or self- service basis; eProcurement automation, including content development and electronic integration and training of buyers and suppliers; purchase-to-pay transaction management services and complete procurement outsourcing.
In addition to growing its customer base, expanding existing relationships and growing purchase-to-pay transaction volume, ICG Commerce also made moves to further strengthen its infrastructure and transaction management capability. Specifically, the company appointed Chris Vavricka as chief operating officer, a 30-year veteran of such companies as Visa, Citibank, Diner's Club and First Data Corporation. Mr. Vavricka has brought extensive operational experience to ICG Commerce, as well as expertise in building large-scale transaction processing and payment systems.
In late June, the company also received recognition from leading trade publication iSource Business in its annual listing of the leading supply and demand chain enabling organizations. The "iSource 100," in which ICG Commerce was featured, serves as an indicator for evaluating enabling organizations and consulting firms with the most viable end-to-end supply and demand chain solutions and services from among the many hundreds of providers in the market today.
"Market forces are continuing to drive companies to examine ways in which to trim costs and add to the bottom line, and strategic procurement initiatives are gaining more and more recognition as the vehicle in which to deliver the greatest and most immediate impact," said Edward H. West, ICG Commerce chairman and chief executive officer. "ICG Commerce is at the forefront of this trend, and we continue to make investments in our infrastructure and our offering to ensure that we maintain the flexibility needed to meet our customers' unique needs and deliver the greatest amount of benefit in the shortest amount of time."
About ICG Commerce, Inc.
ICG Commerce ( www.icgcommerce.com ) is the leading Procurement Services Provider delivering total procurement cost savings through an unmatched combination of deep expertise and hosted technology. ICG Commerce provides a comprehensive range of solutions to help companies identify savings through sourcing, realize savings through implementation and transaction management and drive continuous improvements through category management. ICG Commerce Inc., a privately held company founded in 1992, is a member of Internet Capital Group's (Nasdaq: ICGE - News) network of partner companies and has been honored as a Forbes Best of the Web: B2B, UPSIDE Magazine Hot 100, Global Logistics & Supply Chain Strategies Top 100 and iSource 100 company as well as had its executives recognized among the iSource "Pros to Know".
biz.yahoo.com |
