Fieldglass Far Exceeds Growth Projections in 2010
The Company Further Extends its Market Leadership and Geographic Reach
CHICAGO, Jan. 31, 2011 /PRNewswire/ -- Fieldglass, Inc., the leading technology provider to procure and manage contingent labor and services, today announced it achieved more than 50 percent revenue growth this past year, due in part to a dramatic increase in new customer awards. In addition, Fieldglass completed more than 80 program expansions via new geographies, integration points, and additional spend categories such as services. More than a third of these projects accounted for program growth outside of the U.S.
Fieldglass has the undisputed largest customer base in the industry, according to Staffing Industry Analysts' 2010 VMS and MSP Supplier Competitive Landscape report as well as The Forrester Wave™: Services Procurement, Q3 2010. Forrester Research also ranked the company highest for contingent workforce functionality and return on investment (ROI). In addition, Fieldglass was named "Top Overall Performer" in Staffing Industry Analysts' first annual customer loyalty and satisfaction survey.
The company made significant strides in its own global expansion efforts this past year. In addition to significantly increasing its U.S. workforce, Fieldglass expanded its European staff and established APAC regional headquarters in Australia to better support local customers such as Rio Tinto. Fieldglass has become the preferred solution for companies with global, complex labor programs, spanning both contingent labor and services such as Statement of Work engagements and other projects.
"The recession has brought on a 'new normal' of a more flexible workforce, and, as a result, companies' needs have changed significantly," said Jai Shekhawat, CEO, Fieldglass. "In 2010 we focused on growing Fieldglass to best support our customers and partners and help them navigate this new reality efficiently and successfully."
Fieldglass' balance sheet remains the industry's strongest, and the company was profitable for the fifth consecutive year in 2010. Backed by a substantial investment by Madison Dearborn Partners in September, Fieldglass will focus its 2011 efforts on furthering its global reach, expanding the solution's services functionality and better enabling customer programs.
ABOUT FIELDGLASS, INC.
Fieldglass, Inc. provides the leading SaaS platform to procure and manage contingent workers, services such as Statement of Work projects, independent contractors, and specialized talent pools. The highly-configurable product suite provides transparency into the entire workforce and helps companies optimize program performance and make more strategic labor decisions.
Backed by proven experience and the industry's largest customer base, Fieldglass serves Global 2000 firms in nearly 70 countries. Customers such as Johnson & Johnson, Monsanto, salesforce.com and GlaxoSmithKline realize greater efficiencies, control spend, improve quality and enforce compliance. For more information, visit www.fieldglass.com.
SOURCE Fieldglass, Inc.
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