Spend Visibility Tool Catches Tech-Industry Eyes As Most Promising Technology Solution

ATLANTA, Georgia – May 12, 2014SpendHQ™, the industry-leading SaaS spend visibility solution, announced today it has been selected as a finalist for the Red Herring’s Top 100 Tech Award,a prestigious list honoring the most promising private technology ventures fromNorth America.

“Red Herring showcases companies that are delivering game-changing technology,” said Tom Beaty, CEO of SpendHQ. “It’s an honor to receive this distinction.We believe it reflects our innovative position as the one company that provides true spend visibility for procurement professionals.“

Red Herring’s Top 100 Americas list is a mark of distinction for identifying promising new companies, such as Google, Facebook, Salesforce.com, and YouTube. The winners are evaluated on criteria including disruptiveness in its respective markets, startup growth stage, growth rate,venture investment, industry awards and recognition, and technological advantage. SpendHQ was created for and by sourcing experts at Insight Sourcing Group, a leading procurement consulting firm, after working with hundreds of companies that struggled with Spend Visibility. SpendHQ is built on the same proprietary categorization schema used by Insight Sourcing Group to launch thousands of procurement cost reduction initiatives.

The Finalists are invited to present their winning strategies at the Red Herring Top 100 in Monterrey, CA,May 14-16, 2014. The Top 100 winners will be announced at a special awards ceremony the evening of May 16 at the event.

About SpendHQ
SpendHQ is a spend intelligence system that provides rapid, accurate and detailed visibility into your spend data. This full-service SaaS (Software-as-a-Service) spend visibility solution, combined with our data optimization services, gives clear insight into your spend so you can confidently drive savings. Our U.S.-based team of sourcing professionals will perform the entire upfront data cleanup, spend categorization and spend analysis required to provide sourcing-ready views of your data via our online solution. We refresh your data as frequently as you desire. For more information, visit www.spendhq.com.