Ketera Continues Sales Momentum With New Customer Wins
SANTA CLARA, CA -- 11/15/2004 -- Ketera Technologies Inc. (www.ketera.com), the leading provider of on demand procurement solutions, today announced significant year-to-date performance results, evidenced by several recent customer wins. By the end of Q3 2004, Ketera’s YTD performance equaled the company’s 2003 results, which achieved almost 200% of revenue plan. With the recent addition of nine new customers, Ketera Technologies has acquired more than 60 customers in the past 18 months. These new customers span all industries -- consumer packaged goods, financial services, biotech, transportation and manufacturing -- and include the world’s largest manufacturer of chewing gum, one of the most recognizable airline brands in the industry, as well as a $3B global mining and gold producer, Newmont Mining.
Newmont Mining required a solution that would help capture and analyze its spend data for its locations around the world. By implementing Ketera’s Spend Analysis solution, Newmont Mining is able to manage its corporate spend around the globe, enabling the company to forecast key opportunities in its strategic sourcing process to meet key objectives such as leveraging spend, rationalizing the supply base and developing consistent category strategies.
In addition to these new customer wins, several existing Ketera clients have upgraded their existing contracts with extended services from Ketera’s on demand procurement suite. “This momentum within both our existing client base renewals, as well as continued new client acquisition, demonstrates that the significance and sustainability of the on demand business model,” said Steve Savignano, CEO of Ketera Technologies. “No longer are customers enticed by the feature and functionality beauty contests of the old days. Today, customers demand vendors execute to deliver solutions and services that bring real tangible results. Our results demonstrate that Ketera is addressing this demand.”
About Ketera Technologies
Ketera Technologies is the leading provider of on demand procurement solutions, providing companies with the applications and services needed to control and reduce corporate spending at a low cost of ownership. Ketera’s on demand applications include spend analysis, sourcing, procurement, contract management and payment & reconciliation. The Ketera “on demand advantage” is our delivery model which combines hosted procurement applications with the ’heavy lifting’ services required for success, including supplier enablement; hardware infrastructure, project resources, system administration and solution upgrades.
Ketera Technologies is an IBM business partner, providing technology for IBM Leveraged Procurement Services, an e-Business On Demand offering. Ketera is a private company located in Santa Clara, CA. Investors in the company include Kleiner Perkins Caulfield & Byers, Foundation Capital, Integral Capital Partners and American Express (NYSE: AXP). For more information about Ketera Technologies and their suite of procurement applications, please visit www.ketera.com.
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