Iasta, our new sponsors, announces annual results

- February 12, 2013 10:31 AM
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As well as our new-look site, you may have spotted a new sponsor logo appearing. Yes, we’re delighted to welcome Iasta to Spend Matters UK / Europe, although the relationship with the firm goes back a while here and even further in the US with Jason Busch.

We welcome them as sponsors, and they’re also lead sponsors of our brand new Netherlands site. So remember to tell all your Dutch speaking friends, family, colleagues and anyone you see wearing a bright orange football shirt that there’s now a Spend Matters site just for them!

We wrote about Iasta fairly recently, commenting on their progress here and referring you to a recent detailed technology review from Jason Busch here.   They also announced their latest results last week. Like many privately owned firms, they’re a bit reticent about overall revenues and profit, but they seem to be another firm that is benefitting both from their own efforts and the general buoyancy of the procurement and sourcing technology market.  And they’ve gained new clients and partners in Switzerland, Netherlands, Sweden, China and Australia.

Iasta experienced an outstanding end to a strong year,” said Todd Epple, Chief Financial Officer of Iasta. “We accelerated sales bookings each quarter and ended the year with a fourth quarter that was up 89 percent over the previous year. In 2012, we also doubled revenue from services and saw a 30% increase in new client agreements compared to the previous year.”

As we reported previously, they are positioning their suite of offerings as helping senior executives to make informed business decisions – “procurement intelligence” – rather than simply a range of sourcing and analytics type products. That’s working, according to the firm.

“Our vision of helping companies make informed business decisions using procurement driven BI is clearly differentiating Iasta in the market, which is giving us and our clients more competitive advantages”.

The Iasta press release is also interesting in that it contains a fairly direct attack on Ariba.

“I’ve done hundreds of eSourcing projects and auctions using the Ariba platform,” said a former Ariba client, who switched to Iasta in 2012. “Iasta SmartSource is highly intuitive and easy to use, which is helping drive adoption and realize a strong ROI. Our team prefers Iasta SmartSource over our previous solution. Iasta is helping us make better business decisions and allowing us to better allocate our company’s valuable resources.”

It’s clear that competitors are seeing this as a vulnerable time for SAP / Ariba, as the future direction of their combined portfolio is still somewhat unclear. So those competitors are taking the opportunity to go on the attack. We’ve seen other firms doing this in the P2P area, and Iasta are doing the same in the sourcing and analytics space. Interesting times for the procurement software market…

Anyway, it is good to have them on board, both here and in the Netherlands, and we appreciate their support.

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