Insight Sourcing Group’s spend intelligence solution hailed among North America’s most exciting technology companies
ATLANTA, Georgia—June 4, 2015—SpendHQ has been named to the 2015 Red Herring 100 List as one of the most exciting and disruptive technology companies in North America. Lauded for its pioneering approach to spend analytics in the procurement space, SpendHQ has emerged as the leading pure-play spend intelligence platform for sourcing professionals. SpendHQ Vice President Darren Shipp and Development Manager Andrew Kim accepted the award on behalf of the company on June 3, while attending the annual Red Herring 100 North America summit in San Diego. Past Red Herring 100 recipients include Groupon, LinkedIn, Vitrue, and Tiny Prints.
“We are thrilled to be recognized among such great company as a Red Herring 100 winner,” said Shipp. “Our entire team is devoted to building a solution that solves the problems procurement experts experience with traditional business intelligence solutions. This recognition proves that we have accomplished that.”
The selection process for the annual Red Herring 100 list began with an online application, followed by an interview to assess the state of the business, after which 200 finalists were selected to present to a panel of judges at the annual summit. Shipp represented SpendHQ in the presentation phase, focusing heavily on the company’s explosive growth and unique value proposition as a standalone extension of the highly acclaimed boutique consulting firm Insight Sourcing Group.
“Our incredible team has built something special and exciting,” explained SpendHQ and Insight Sourcing Group CEO Tom Beaty. “Our rich sourcing heritage has enabled the team at SpendHQ to mitigate the cookie-cutter pitfalls of traditional spend visibility tools. That expertise is built into the SpendHQ solution, and that is what enables actionable insight for our customers. That is why we’re a Red Herring 100 company today.”
SpendHQ has also been recognized among Atlanta’s fastest-growing private companies by the Atlanta Business Chronicle, which recently listed the company on its annual list of “Pacesetters.” Insight Sourcing Group and SpendHQ were also recognized on the Atlanta Journal-Constitution’s list of Top Workplaces, ranking first overall in the small workplace category.
About Insight Sourcing Group Insight Sourcing Group is considered one of the premier management consulting firms focused exclusively on Strategic Sourcing and procurement-related services in North America. Founded in 2002, the firm works with senior executives and procurement leaders to accelerate Strategic Sourcing savings, increase Spend Visibility, provide category intelligence, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients and over 50 private equity firms.
The firm has developed a reputation for the collegiality and high caliber of its team, its tremendous focus on client-results, and for its ability to consistently deliver strong outcomes. Typical client results include 20% average savings per indirect spend category, 5-15% for direct spend categories, 842% first-year return on investment, and project payback periods of less than 90 days.
Insight Sourcing Group has also developed a market-leading Spend Visibility technology called SpendHQ®, which provides on-demand Spend Visibility to drive Strategic Sourcing results and ongoing analytics to measure performance and compliance. Inc. Magazine has ranked Insight Sourcing Group among the fastest growing private companies in America every year since 2008, making Insight Sourcing Group one of the few firms to be listed seven years in a row. Insight Sourcing Group was also recently named the #1 Boutique Consulting Firm To Work For in the US, and the #2 Most Innovative Consulting Firm in 2015 by Vault.