ICG Commerce Increases Spend Under Management 50% to More Than $10 Billion Since Start of Economic Crisis

PHILADELPHIA, PA--(MARKET WIRE)--Mar 9, 2009 -- ICG Commerce, the leading procurement outsourcing specialist, announces today that the amount of spend the company manages for leading companies spiked to $10.2 billion, a 50% increase since Sept 30th of last year. Driving this increase are new or expanded contracts with industry titans including Whirlpool, Teva Pharmaceuticals, Goodyear, Cameron International and a leading software provider. These contracts are collectively worth $136 MM in total contract value, a 50% increase over the total value contracted during the full year 2007.

"As current economic conditions force companies to seek additional ways to cut costs, results-oriented leaders are turning to procurement outsourcing," said Carl Guarino, Chief Executive Officer, ICG Commerce. "Our recently accelerated customer activity is a testament to our proven ability to deliver hundreds of millions of dollars in savings that drop straight to the bottom-line."

According to the research and advisory firm, The Everest Group, procurement outsourcing delivers 5 times more savings than other outsourcing endeavors, like IT or HR outsourcing. Unlike these other outsourcing solutions, which focus on headcount reductions through technology and labor arbitrage, procurement outsourcing focuses on driving down the costs of purchased goods and services. For many companies these purchases, which fall into categories, like logistics, marketing services, IT/telecom, packaging and travel represent over $1 billion of expenditures.

"Globalization and outsourcing are megatrends that are accelerating dramatically in today's economic climate," says The Hackett Group's Procurement Research Director, Pierre Mitchell. "Our recent 2009 Procurement Key Issues study indicates that 50% of Procurement organizations plan to use BPO as part of their globalization efforts."

For nearly a decade, ICG Commerce has focused on helping Fortune 1000 clients like Kimberly-Clark, Hertz, Chiquita, Greif and many others expand and accelerate aggressive cost reduction programs. ICG Commerce delivers savings by infusing sourcing specialists who bring deep category expertise and access to intelligence data that compounds as they work across numerous Fortune 1000 companies.

About ICG Commerce

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 (NasdaqGM:ICGE - News) 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

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     ICG Commerce
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