Vendor update day - Part III

2 comments August 13th, 2007 David Bush - Iasta

This one cracked me up. Ariba issued a press release recently which proclaimed a new client acquisition, Blue Cross-Blue Shield NJ. So, whats the significance of this? Nobody really reads press releases, right?

Here is the dirty little secret about the client win PR game. We know no one reads them, but their purpose is two-fold. First, you can show that you have real clients that are willing to admit being associated with you. That is pretty cool and raises the credibility bar pretty high. Second, the release is probably written to “stick it to” the main competitor for that account. In this case, its Procuri, by my guess. Prior to being acquired by Procuri, CMSI would tell any one listening that they had deep penetration in the BCBS network, which was in fact, true. Its not immediately clear from the release if Ariba Sourcing is going to be included, but it surely will make a company uncomfortable to know that your direct competitor is sitting across the room sowing doubt about you. We specifically released a client win in the past because we knew the company evaluated 14 different applications before choosing Iasta. That was our way of letting everyone know they lost. That particular company just signed another long term extension, so life is good and we had our fun.

Childish..probably, devious..probably, reality..definitely.

Entry Filed under: General, e-Sourcing Marketplace

Vendor update day - Part II

Add comment August 13th, 2007 David Bush - Iasta

I ran across this article a few days ago which mentions Ketera and their growth plans. Burton was quoted with:

Another example is Santa Clara, California-based Ketera, which sells on-demand spend-management software. The company is preparing to go public in about a year, said CEO Burton Goldfield. It’s adopting the GAAP accounting method for revenues and bookings, trying to broaden distribution channels, focusing on partners, and investing globally in the areas of public and analyst relations. Seeing its peers go public affects Ketera in two ways, Mr. Goldfield said.

“It gives us a definitive benchmark of valuations and the financial makeup of these companies,” he said. “It’s very inspirational for us to understand that we stay focused on the market and [on] delivering business results. We can follow suit.”

I know Burton is very sharp, so this is not surprising, as he has had the metal to the pedal for over a year now. Plus, I doubt Kleiner Perkins is going to be satisfied with a 20% return. With the rumors of Emptoris also going public, this is good news for the whole supply management marketplace. Personally, I have no interest in being public and all the extra overhead that comes with that, but I am glad to see others pursuing the effort.

Entry Filed under: General, e-Sourcing Marketplace

Vendor update day - Part I

Add comment August 13th, 2007 David Bush - Iasta

The 2007 Supply and Demand Chain Executive 100 list came out a few weeks ago and Iasta was again given the honor. This is the fourth consecutive year for being named to the list, which we are very proud of. In fact, I had ESF updated with the impressive SDC100 seals on the right side nav, so no one ever forgets!

You can read the press release here. However, we never did “issue” the release except on our website. Whats the point, really? Does anyone pay attention to press releases, especially when there are 99 others on the same day, saying the same thing? We are really happy to be named but it just doesn’t seem necessary to toot our horns about something that should be expected not celebrated.

Entry Filed under: General, Technology, e-Sourcing Marketplace