ICG Commerce Marks Significant Growth in 2006, Projects Continued Expansion in 2007
ICG Commerce Leads Procurement Outsourcing Industry's Continued Growth As Leading Companies Propel Adoption
PHILADELPHIA - Monday, May 07, 2007 - ICG Commerce, a leading procurement services provider, today
announced business results for 2006, demonstrating solid growth and continued momentum for the burgeoning
procurement outsourcing industry. The company predicted continued double-digit increases in 2007.
ICG Commerce achieved year-over-year growth of 30 percent in 2006 and expects to
achieve this level in 2007. According to IDC, average industry growth in 2006 was 17%.
In addition, the company’s contract backlog (the value of all remaining contracted
revenue) climbed 150 percent.
“Our strong 2006 results and full pipeline demonstrate that procurement outsourcing is a
rapidly maturing industry and pure play specialists like ICG Commerce are in strong
demand,” said Carl Guarino, Chief Executive Officer, ICG Commerce. “Leading
companies are increasingly using procurement outsourcing to help increase control and
impact from their procurement effort by capturing, analyzing and optimizing spend,
ultimately driving maximum savings to the bottom line.”
In 2006, ICG Commerce partnered with or extended relationships with:
- Goodyear
- Timken Company
- Global Crossing
- Kimberly-Clark
- Microsoft India
Throughout 2006 results-driven leaders increasingly adopted procurement outsourcing
as part of their global strategies to deliver significant savings to the bottom line and
increase competitiveness. The market for global procurement BPO will reach $530
million in 2007, according to Nelson-Hall forecasts.
About ICG Commerce, Inc.
ICG Commerce (www.icgcommerce.com) is the leading procurement outsourcing
specialist delivering comprehensive source-to-pay as well as strategic sourcing services.
Results-driven leaders access ICG Commerce’s experienced resources and market
intelligence to better manage procurement and logistics spend, gaining significant
savings and enhanced visibility and control.
ICG Commerce is a privately held company founded in 1992 and a member of Internet
Capital Group's (Nasdaq: ICGE) network of partner companies. The company has
earned recognition from Forbes, Fortune, The International Association of Outsourcing
Professionals (IAOP) and leading industry analysts for its leadership in procurement
outsourcing.
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Contact:
Christen Melcher
ICG Commerce
+1-484-690-5005
cmelcher @ icgcommerce.com
Alexander Gordon
Sloane & Company
+1-212-446-1897
agordon @ sloanepr.com
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