elance 2005 result 7B
http://www.lexdon.com/article/Elance_Closes_Record_2005_With/29072.html
MOUNTAIN VIEW, Calif., Jan. 19 -Elance, Inc. (http://www.elance.com), the leading provider of e-commerce solutions for services, today announced 2005 achievements - customer growth, major product release, international expansion, and SAP certification - solidifying Elance's market leadership in services and contractor management.
Record $7B in Services & Contractor Spend Actively Managed
2005 saw the achievement of over $7 billion in services spend actively managed by Elance customers, demonstrating the rapid adoption of Elance technology by Fortune 500 firms as well as the maturity of the Elance product in managing multiple service categories. Key service categories managed by Elance customers include IT, contingent labor, operations, management consulting, marketing, print, third-party/BPO, and others. This achievement was underpinned by several milestones in 2005 including:
-- Over $3.5 Billion in IT-related services, making IT the largest
category: customers used Elance to buy and manage services from 600 of
the world's largest IT service providers including Accenture,
BearingPoint, Cognizant, Deloitte, Infosys, IBM, Keane, Oracle, Tata
and Wipro.
-- Over $3 Billion in contract labor managed by customers across functions
including accounting, administration, call-center, engineering,
facilities, healthcare, IT, legal, marketing, manufacturing and
operations.
-- Over 35 customer contracts in 2005 with expansions at existing
customers.
Major New Product Release - Elance 5
In November 2005, Elance released the 5th generation of the Elance Services & Contractor Management solution, building on the Elance vision for services standardization, digitization, measurement and compliance. Key components of this major product upgrade included:
-- Rapid deployment -- pre-configured processes, business rules, templates,
base data and approval workflows for each service category to enable
immediate value.
-- Globalization -- including language, workflow, and rules
configurability to enable compliance to country or local regulations.
-- Policy Compliance -- improved functionality to maintain audit trails,
manage services change orders, contractor on-boarding and off-boarding
tasks, and more to enable compliance to Sarbanes-Oxley, HR, safety and
other company policies.
-- Performance Management -- enhanced capabilities for more sophisticated
tracking of supplier performance.
-- Outsourcing Support -- including enhanced Managed Service Provider
(MSP) capabilities to enable more outsourcing.
The product capabilities driving this major upgrade were a result of sustained customer focus, including feedback from two Elance customer advisory councils. These sessions convened leading firms including American Express, BP, EDS, FedEx, GE, Motorola, Novartis, Northwestern Mutual, Procter & Gamble, Qwest and leading consulting and labor providers.
New International Deployments & Expansion
Elance in 2005 also expanded the usage of the Elance Services & Contractor Management solution to 9 countries in 4 continents including Australia, Canada, India, Indonesia, Singapore, the United Kingdom, and, of course, the United States.
To facilitate the international expansion of customers and ensure complete continuity of operations, Elance expanded operations in the UK and EMEA in August 2005 and moved into a new HQ location in central London.
Achievement of SAP Certified Integration
To drive improved ease in integration with existing SAP investments of customers and prospects, the Elance Services & Contractor Management solution in 2005 achieved "SAP Certified Integration" and "Certified for SAP NetWeaver" status, assuring SAP customers of fast, high-quality and proven interfaces with Elance. This expanded, proven integration with SAP NetWeaver complements the interoperability of the Elance 5 Solution with leading enterprise resource planning software from Oracle, Peoplesoft and others.
"2005 was another strong year for our customers and for Elance," said Fabio Rosati, president & CEO of Elance, Inc. "With the achievement of these latest milestones, Elance continues to be the standard-bearer for services and contractor management automation and is the proven partner for companies looking to improve the way they buy and manage third-party services and contractors."
About Elance, Inc.
Elance(R) is the leading provider of e-commerce solutions for services. Elance provides a simple, convenient and automated way to find, evaluate, purchase, manage and pay for third party services and contractors, resulting in tremendous cost savings and increased compliance for buyers and increased customer and market reach for suppliers. Elance brands include:
-- Elance 5, an enterprise service, used by Global 2000 companies to
manage their network of service suppliers and contractors for over 50
service categories including contingent staffing, IT outsourcing, and
consulting services
-- Elance Marketplace, the world's leading web-based project marketplace,
used by mid-sized and small businesses and services providers to
connect and transact projects online
-- Elance Agency, a specialized service, used by mid-sized and small
businesses to access handcrafted project packages for the most popular
services categories.
MOUNTAIN VIEW, Calif., Jan. 19 -Elance, Inc. (http://www.elance.com), the leading provider of e-commerce solutions for services, today announced 2005 achievements - customer growth, major product release, international expansion, and SAP certification - solidifying Elance's market leadership in services and contractor management.
Record $7B in Services & Contractor Spend Actively Managed
2005 saw the achievement of over $7 billion in services spend actively managed by Elance customers, demonstrating the rapid adoption of Elance technology by Fortune 500 firms as well as the maturity of the Elance product in managing multiple service categories. Key service categories managed by Elance customers include IT, contingent labor, operations, management consulting, marketing, print, third-party/BPO, and others. This achievement was underpinned by several milestones in 2005 including:
-- Over $3.5 Billion in IT-related services, making IT the largest
category: customers used Elance to buy and manage services from 600 of
the world's largest IT service providers including Accenture,
BearingPoint, Cognizant, Deloitte, Infosys, IBM, Keane, Oracle, Tata
and Wipro.
-- Over $3 Billion in contract labor managed by customers across functions
including accounting, administration, call-center, engineering,
facilities, healthcare, IT, legal, marketing, manufacturing and
operations.
-- Over 35 customer contracts in 2005 with expansions at existing
customers.
Major New Product Release - Elance 5
In November 2005, Elance released the 5th generation of the Elance Services & Contractor Management solution, building on the Elance vision for services standardization, digitization, measurement and compliance. Key components of this major product upgrade included:
-- Rapid deployment -- pre-configured processes, business rules, templates,
base data and approval workflows for each service category to enable
immediate value.
-- Globalization -- including language, workflow, and rules
configurability to enable compliance to country or local regulations.
-- Policy Compliance -- improved functionality to maintain audit trails,
manage services change orders, contractor on-boarding and off-boarding
tasks, and more to enable compliance to Sarbanes-Oxley, HR, safety and
other company policies.
-- Performance Management -- enhanced capabilities for more sophisticated
tracking of supplier performance.
-- Outsourcing Support -- including enhanced Managed Service Provider
(MSP) capabilities to enable more outsourcing.
The product capabilities driving this major upgrade were a result of sustained customer focus, including feedback from two Elance customer advisory councils. These sessions convened leading firms including American Express, BP, EDS, FedEx, GE, Motorola, Novartis, Northwestern Mutual, Procter & Gamble, Qwest and leading consulting and labor providers.
New International Deployments & Expansion
Elance in 2005 also expanded the usage of the Elance Services & Contractor Management solution to 9 countries in 4 continents including Australia, Canada, India, Indonesia, Singapore, the United Kingdom, and, of course, the United States.
To facilitate the international expansion of customers and ensure complete continuity of operations, Elance expanded operations in the UK and EMEA in August 2005 and moved into a new HQ location in central London.
Achievement of SAP Certified Integration
To drive improved ease in integration with existing SAP investments of customers and prospects, the Elance Services & Contractor Management solution in 2005 achieved "SAP Certified Integration" and "Certified for SAP NetWeaver" status, assuring SAP customers of fast, high-quality and proven interfaces with Elance. This expanded, proven integration with SAP NetWeaver complements the interoperability of the Elance 5 Solution with leading enterprise resource planning software from Oracle, Peoplesoft and others.
"2005 was another strong year for our customers and for Elance," said Fabio Rosati, president & CEO of Elance, Inc. "With the achievement of these latest milestones, Elance continues to be the standard-bearer for services and contractor management automation and is the proven partner for companies looking to improve the way they buy and manage third-party services and contractors."
About Elance, Inc.
Elance(R) is the leading provider of e-commerce solutions for services. Elance provides a simple, convenient and automated way to find, evaluate, purchase, manage and pay for third party services and contractors, resulting in tremendous cost savings and increased compliance for buyers and increased customer and market reach for suppliers. Elance brands include:
-- Elance 5, an enterprise service, used by Global 2000 companies to
manage their network of service suppliers and contractors for over 50
service categories including contingent staffing, IT outsourcing, and
consulting services
-- Elance Marketplace, the world's leading web-based project marketplace,
used by mid-sized and small businesses and services providers to
connect and transact projects online
-- Elance Agency, a specialized service, used by mid-sized and small
businesses to access handcrafted project packages for the most popular
services categories.
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