Detail

Forbes Reaffirms ICG Commerce's Leadership in Procurement Business Process Outsourcing

Thursday, November 10, 2005

Recognition Highlights Continued Strong Company and Market Growth, Market Share Leadership and Singular Focus on Procurement Industry Highlighted in Fourth Consecutive "Best of the Web" Recognition

PHILADELPHIA - Thursday, November 10, 2005 - ICG Commerce, a leading procurement services provider, today announced that it has been recognized for the fourth consecutive year in Forbes' "Best of the Web" ranking of business-to-business companies. ICG Commerce was selected for two categories this year, as one of four leaders in the overall Procurement market and one of 12 companies to be featured in the business process outsourcing (BPO) category. ICG Commerce was the only procurement-focused provider to be chosen in the BPO category.

ICG Commerce's selection was based on a number of compelling factors, including its expanding blue chip customer base. The company's latest publicly announced customer signings include Rent-A-Center, Cooper Cameron, Greif and Universal Packaging Systems.

"For ICG Commerce, its expertise is in the BPO-procurement industry and according to a research report from Nelson Hall, ICG Commerce is the market share leader in the area of procurement-BPO services," noted Forbes.

Highlighting the company's vast potential, Forbes notes, "According to a report from IDC Research, procurement is the fastest growing BPO field with an estimated compound annual growth rate of 34.6 percent through 2008 and ICG Commerce is experiencing this growth first hand."

Forbes' 2005 Best of the Web guide showcases 100 best-in-class B2B companies in 13 different categories. Companies were judged on several criteria, including strategy, execution, innovation and financial staying power.

"It's a privilege to again be recognized by Forbes as the leading procurement BPO provider," said Edward H. West, chairman and CEO of ICG Commerce. "By placing ICG Commerce alongside more broadly-focused providers such as IBM Global Services and Accenture, Forbes validates the demand for specialized providers. Our focus on procurement and history of delivering procurement related performance improvements and results to our customers is what drives our success in the market."

About ICG Commerce, Inc.

ICG Commerce is the leading procurement outsourcing specialist delivering comprehensive source-to-pay 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. For more information: www.icgcommerce.com

Back to press release list