ICG Commerce Achieves Significant Growth as Demand Accelerates for Procurement Outsourcing

Wins in 2009 Included New Engagements with Pinnacle Foods Group and Houghton Mifflin Harcourt, as well as Expanded Relationships with key customers such as Greif, Inc.

PHILADELPHIA--(BUSINESS WIRE)--Despite the economic challenges of the past year, ICG Commerce, the procurement outsourcing specialist, grew revenues by 28 percent in 2009 and increased its spend under management by 33 percent to $13.6 billion. This growth reflects ICG Commerce’s specialized focus on procurement outsourcing and the increasing recognition among companies that procurement outsourcing is the next generation strategy for improving financial performance by delivering hundreds of millions in savings across indirect and non-core spend areas.

“We look forward to helping more companies leverage procurement outsourcing as a new strategy to achieve improved financial performance – a key challenge in today’s economy.”

Click here for video interview with ICG Commerce CEO Carl Guarino on driving sustainable, realized savings through procurement outsourcing.

“Non-core spend is an area that represents a significant cost savings opportunity, yet many companies struggle to capture the savings due to several key challenges. First, gaining access to the spend can be difficult since it is highly fragmented at most companies, and then the biggest challenge lies in preventing savings leakage due to maverick spending, budgetary and demand issues, non-compliance and operational issues,” commented Katrina Menzigian, Everest Research. “ICG Commerce is clearly focused on helping companies address this opportunity and achieve bottom-line savings realization.”

ICG Commerce provides a comprehensive approach to managing and controlling a company’s indirect and non-core spend in areas such as logistics, marketing, IT, HR and travel. By bringing deep expertise and market intelligence across all of these buying categories, ICG Commerce helps companies actively manage more spend and optimize sourcing results. Working across leading companies daily, these experts bring an informational advantage through real-time market knowledge that companies are typically unable to attain on their own. This expertise is infused into an end-to-end operational approach to help companies like Kimberly-Clark, Whirlpool and Hertz ensure these savings hit the bottom-line.

In 2009, ICG Commerce announced a five-year expanded global relationship with Greif, Inc., world leader in industrial packaging products and services. In addition, the Company added customers in multiple industries, entering new multi-year engagements with leading publisher Houghton Mifflin Harcourt and several consumer products companies, an industry in which ICG Commerce is placing increased focus, including Pinnacle Foods Group.

“ICG Commerce experienced strong growth in 2009 because we maintained a deep commitment to helping companies drive sustainable, realized savings,” said Carl Guarino, CEO, ICG Commerce. “We look forward to helping more companies leverage procurement outsourcing as a new strategy to achieve improved financial performance – a key challenge in today’s economy.”

About ICG Commerce, Inc.

ICG Commerce, the procurement outsourcing specialist, is driving a fundamental change in the way today’s businesses achieve financial agility and fund growth. ICG Commerce is the only procurement outsourcing specialist with superior market intelligence integrated into an operational approach, resulting in hundreds of millions of dollars in realized savings. ICG Commerce is a privately held company and member of Internet Capital Group's (Nasdaq: ICGE) network of partner companies.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6216994&lang=en