Fieldglass CEO Jai Shekhawat Named Finalist for Ernst & Young's Entrepreneur Of The Year

CHICAGO, May 4, 2011 /PRNewswire/ -- Fieldglass, Inc., the leading technology provider to procure and manage contingent labor and services, today announced founder and CEO Jai Shekhawat has been named a 2011 Ernst & Young Entrepreneur Of The Year® Midwest finalist. Shekhawat led Fieldglass to one of the company's best years on record in 2010, despite a still-recovering economy.

"These finalists create jobs in our area, encouraging community development and innovation in our broader economy," said Randy Tavierne, Ernst & Young partner and Midwest Strategic Growth Markets Leader. "No matter who wins on June 22 we know one thing for sure — the Midwest is enriched by every one of these finalists."

Awards are given to those who demonstrate excellence and extraordinary success in innovation, financial performance and personal business and community commitment.

Shekhawat's commitment to innovation has served as the cornerstone of Fieldglass' industry-leading solution design and development. Shekhawat established Fieldglass as an early Software-as-a-Service (SaaS) innovator, at a time when the model had little success. SaaS is now the preferred delivery model for VMS solutions, and Fieldglass is helping the world's largest companies manage their contingent labor and service providers.

In September 2010 Fieldglass secured a substantial investment from Madison Dearborn Partners, delivering a cash return to investors of nearly five times. In addition, last year Shekhawat led Fieldglass to 50 percent revenue growth in its fifth consecutive year of profitability, due in large part to new customer awards.

As one of Chicago's longest-tenured founder/CEOs, Shekhawat is still leading Fieldglass in its 12th year. He is also actively involved in Chicago's business and technology communities through TiE Midwest, the Mayor's Council of Technology Advisers and the Economic Club of Chicago's technology committee.

"It is an honor to be recognized as a finalist in such a prestigious award program," said Shekhawat. "Most importantly, I am pleased to be a part of Chicago's thriving culture of business and technology innovation, and consider it an ideal environment to establish companies and hire qualified, talented individuals."

Celebrating its 25th year, the Entrepreneur Of The Year Program honors entrepreneurs regionally in June, leading up to the national awards in November. The program recognizes business leaders in more than 140 cities and more than 50 countries throughout the world.

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.