6465 Greenwood Plaza Blvd., Suite 800 | Centennial, CO | 80111 United States
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IQNavigator is the leading independent technology provider of vendor management system software for Global 2000 companies. Our cloud-based software enables enterprises to intelligently manage and optimize complex services procurement and contingent workforce programs.

We are IQNavigator. Our mission is to unleash the strategic advantage of contingent labor. We do this through a superior software platform. Our scalable, secure architecture enables change as customer needs evolve. As the industry’s only independent technology pioneer, we can deliver contingent workforce solutions driven by our clients. And when we release new functionality, we provide a path forward to the future—making customer investments appreciating assets.

We place extraordinarily high value on serving customers. If a client has a question, we answer it honestly. We don’t duck a problem; we face it and fix it. We never stop striving to help clients find new and appropriate solutions that will work for their business. This IQN experience is fundamental to the value we provide.

Our innovative platform accommodates and attracts significant industry alliances. Together with the dedicated IQN ecosystem of solutions, services and infrastructure collaborators, we can better respond to your complex contingent labor challenges.No other VMS provider delivers the technology leadership, rewarding customer experience, and partner ecosystem that IQN offers.

This is the Power of IQN.

GTCR Acquires Beeline From Adecco, Merges VMS Firm with IQNavigator

GTCR, a Chicago-based private equity firm and owner of IQNavigator (IQN), announced early Tuesday it had acquired Beeline, a vendor management system (VMS) and freelancer management system (FMS) provider, from Adecco. Beeline had previously been part of Adecco’s acquisition of MPS, which valued that combined entity (including Beeline) at $1.3 billion in 2009. Reuters reports that "private equity company GTCR will be the majority shareholder in the combined business, with Adecco getting a minority stake, along with $100 million (78.88 million pounds) in cash and $30 million as a promissory note." How will the combination of Beeline and IQNavigator alter the core dynamics of the contingent workforce and services procurement market? Read our transaction/valuation analysis on Spend Matters PRO to learn more GTCR will merge the combined Beeline and IQNavigator entities into a single firm. According to the announcement, “the combined entity creates one of the world’s largest vendor management system (VMS) providers, uniquely positioned to help its customers and partners maximize the value obtained from their rapidly growing extended workforce, prepare for the future of work, and win the war for quality, on-demand talent.” The dual headquarters of the combined firm will be shared between Jacksonville, Florida and Denver, Colorado. In total, the firm will have approximately 600 employees. Beeline and IQNavigator told Spend Matters that they will continue to support both technology platforms but plan to adapt and merge the best capabilities of both solutions over time into a converged solution. Senior leadership of the combined organization will comprise members of both organizations:
  • Doug Leeby (Beeline) will lead the combined organization as CEO
  • Autumn Vaupel (Beeline) will lead operations as COO
  • Ron Litton (Beeline) will lead the combined sales organization
  • Manuel Roger (Beeline) will lead global markets
  • Brian Hoffmeyer (IQNavigator) will lead global marketing
  • Sherri Hammons (IQNavigator) will serve as CTO of the combined organization
  • Barry Capoot (IQNavigator) will serve as CFO of the combined firms
In the merger announcement, the combined firms noted that they will “collaborate on post-merger integration activities [and] their customers and partners can expect a business-as-usual environment with access to their current resources in global account management, implementation, support and all other key areas of the business. IQN and Beeline customers can also continue to rely on their current VMS solutions, without any disruption in services or capabilities. IQN and Beeline will announce a joint product roadmap and go-forward branding plans, as they become available.” While there is near 100% overlap in product footprint between the two providers, industry focus is less concentrated. Beeline previously shared with Spend Matters that its largest vertical sectors include financial services (including insurance), manufacturing, retail, telecom/media, technology, energy/utilities, healthcare and business/professional services. IQN previously shared that their largest industry segments include oil and gas, mining, manufacturing, consulting, IT, retail and consumer packaged goods. Beeline has extensive experience with integrating its solution with the following third-party systems and applications: Ariba, Artemis, CA Identity Manager, Changepoint, Clarity, Coupa, DocuSign, IBM Emptoris, First Access, JDE, Kronos, Lawson, Microsoft Enterprise Project Management (MSEPM),  Oracle, PeopleSoft, Project Server, Pyxis, SAP, SiteMinder, TeamPlay and Workday. IQN shared that it most typically integrates with Oracle, Workday, SAP, Lawson, Kronos, Clarity (and many other systems – including integrations with other ERP, AP, AR, general ledger, HR IS/HCM, timekeeping, project management and related systems). Spend Matters analysis of the transaction suggests:  
  • The cash and note terms of the transaction, as reported by Reuters, compared with typical industry valuations for cloud/SaaS procurement technology software companies  -- and previous benchmarks established by the Fieldglass / SAP transaction as well as recent funding rounds for specialized services procurement technology providers in the freelancer / independent contractor management sector -- hint that Adecco will maintain an important minority stake in the combined organization, one that could be worth more after an eventual exit (of the combined organization) than the cash consideration paid upfront for Beeline
  • The combination of Beeline and IQNavigator will make it approximately the same size as SAP Fieldglass in headcount — and similar to slightly larger in contingent workforce volume
  • The combination has the potential to create somewhat of a duopoly situation in the core VMS market where the two largest providers (Fieldglass and Beeline/IQNavigator) will comprise a majority of overall contingent workforce spend volume in North America (and globally), at least in the core staffing/contingent workforce area
  • In contrast to the market for technology-led staffing/contingent enablement, the market for statement of work (SOW) enablement, which IQN/Beeline also target, remains a materially more fragmented market with a combination of VMS, source-to-pay, targeted solutions and category/industry specific solutions vying to capture an increasingly larger pie
  • With its acquisition of FMS platform OnForce, in mid 2014, Beeline made a significant move into the nascent, still evolving market for independent, non-employee, non-staffing talent platform-based solutions. The Beeline (now Beeline/IQN) solution focuses on capabilities that enable enterprises to self-source and manage independent talent  
Over on Spend Matters PRO, we provide continuing coverage of the merger, including recommendations for customers and prospective customers of the combined organization, managed services provider (MSP), other partners and third-party technology vendors/competitors in the contingent workforce and services procurement sector later today and throughout the remainder of the week. For complete coverage spanning the future of labor supply chains and non-employee work, see Spend Matters' specialized contingent workforce and services procurement news and research. 
  • Five Scenarios for VMS 2025: Scenario 1 — Status Quo [PRO]
  • Beeline vs. Coupa Contingent Workforce: Temp Staffing/VMS Head-to-Head Comparison
  • Vndly Closes $11 Million Series A Funding Round: A VMS Category Buster in the Making? [PRO]
  • Coupa’s Acquisition of DCR Workforce: Analyzing the Move (Part 1) — History, Context and SAP [PRO]
  • Beeline’s Acquisition by New Mountain Capital: Transaction Analysis and Competitive Impacts [PRO]
  • The Contingent Workforce and Services Insider’s Hot List: August 2018 [Plus+]
  • Beeline and New Mountain Capital: A Conversation With Doug Leeby (Part 1)
  • Beeline Acquired by New Mountain Capital — The Journey Continues
  • Contact IQNavigator