January 18, 2011 – SpendMap, a leading provider of cost effective software solutions for companies that are trying to streamline their procurement processes and better control their spending, today announced continued growth for 2010.
“Despite a challenging economy, we had a banner year, with new client acquisitions up over 110% from fiscal 2009”, said Darin Portnoff, VP Sales and Marketing of SpendMap. “Revenue from new sales was up over 50% which helped contribute to a triple-digit increase in profitability.”
Unlike many newcomers to the e-procurement arena, SpendMap has a long history of performance and stability, a key criterion for organizations looking to invest in e-Procurement.
During the year, over 60 companies of all types and sizes purchased SpendMap solutions to drive their spend management strategies, including Alpha Laboratories, CARE Canada, Chartwell Seniors Housing REIT, CL Thomas, INTRUST Bank, Palm Beach Marriott, Pixius Communications, US Department of Defense, and Westex Capital.
“We further strengthened our competitive position in 2010 by introducing a host of new features in the Summer 2010 Release“, says Mr. Portnoff. “These new capabilities will help maintain our momentum into 2011 and beyond.”
“We are excited about maintaining our leadership position in 2010”, added Mr. Portnoff. “Despite improvements in the overall economy, many companies in many industry sectors continue to struggle and we are thrilled to be able to help our customers better manage their spending and cut costs”.
SpendMap is a leading supplier of cost-effective software solutions for midsize and smaller companies that need to streamline their procurement processes and better control their spending. For 20 years, SpendMap has been helping customers improve their purchasing, payables and materials management processes to slash paperwork, control spending and cut costs. For more information, please visit www.SpendMap.com or call 1-800-506-3366.