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IQNavigator Wins 2009 Red Herring 100 Award

IQNavigator, the premium provider of global services procurement solutions and managed service programs, today announced the company has been named a recipient of 2009 Red Herring 100, an award given to the top 100 privately held companies based in North America as judged by the editors of Red Herring.

“We are honored that IQNavigator continues to gain accolades for both its business performance and its technology,” said John P. Raeder Jr., president and CEO of IQNavigator. “For most Global 2000 corporations, services procurement is an untapped green field opportunity for cost savings. We’re thrilled to be recognized for quickly and consistently recognizing sizable cost savings across key service areas on an enterprise-wide scale for our Fortune 500 customers. Being named to Red Herring’s North America 100 is a testament to our success.”

The Red Herring editorial team selected the most innovative companies from a pool of 1,200. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.

This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the “buzz” and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.

For over 10 years, The Red Herring 100 North America award, open to private technology companies headquartered in North America, has been given to the top 100 tech companies based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecom, communications, security, Web 2.0, software, hardware, biotech, and clean tech industries sent in their submissions to qualify for the award.

The CEOs of the 200 finalists were invited to present their winning strategies at the Red Herring Conference in San Diego, where the Red Herring Top 100 was announced.

About IQNavigator

IQNavigator is the leading provider of on-demand services procurement software and managed service programs. The company’s award-winning suite of integrated applications enable Global 2000 companies such as Charles Schwab, Entergy, Northrop Grumman, Schlumberger, Shell and Sony Electronics to gain control and visibility into their large and growing services procurement spending. With proven domain expertise and innovative technology solutions, IQNavigator can help clients quickly and easily turn complex services spend into a new source of value, competitive advantage, and continuous bottom-line improvement. For more information please visit www.IQNavigator.com.

About Red Herring

Red Herring is a global media company uniting the world's best high technology innovators, venture investors, and business decision-makers in a variety of forums: a leading innovation magazine; an online daily technology news service; technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation ecosystem, featuring unparalleled insights on the emerging technologies driving the economy. For more information, visit www.redherring.com

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