CHICAGO, June 26, 2012 /PRNewswire/ -- Fieldglass, Inc., the leading technology provider to procure and manage contingent labor and services, today announced CEO Jai Shekhawat was named Ernst & Young's "Entrepreneur Of The Year®" in the Private Equity/Venture Capital category for the Midwest region. Under Shekhawat's leadership, Fieldglass has become the world's largest and most innovative Vendor Management System (VMS) provider.
As one of the longest-tenured founder/CEOs of the VMS market, Shekhawat pioneered the industry's most successful strategies, including the Software-as-Service (SaaS) delivery model. Many of Fieldglass' first-to-market offerings, such as its solution to manage project-based services, served as early indicators of the industry's direction.
In October 2010, Fieldglass announced that it had secured a substantial investment from Madison Dearborn Partners, valuing the company in excess of $220 million and validating Fieldglass' leadership position in the growing services procurement market.
"Jai's leadership skills and personal attributes are of the highest quality, and we are pleased to see his hard work recognized," said Doug Grissom, a managing director at Madison Dearborn Partners. "Jai is a true entrepreneur. More than a decade since Fieldglass' inception and nearly two years since our acquisition, he continues to lead the company in this spirit, with a focus on innovation throughout the organization."
Shekhawat shares his unique experiences by serving as a mentor within the Chicago entrepreneurial community. He is a founding member of both the Firestarter Fund and the Chicago TiE chapter, and is actively involved with the University of Chicago's Booth School of Business and his alma mater, Northwestern's Kellogg School of Business, in a variety of ways.
ABOUT FIELDGLASS, INC.
Fieldglass is the largest Vendor Management System (VMS) provider. Its innovative Software-as-a-Service (SaaS) solutions allow organizations to better procure and manage their flexible workforces, including contingent labor, services arranged through Statements of Work, independent contractors and specialized talent pools. Using Fieldglass' technology and value-added consulting services, global companies establish and sustain strategic, results-oriented contingent workforce and services procurement programs, year after year.
Fieldglass is the current VMS market leader in global labor spend and holds the industry's highest customer satisfaction rating two years running, according to Staffing Industry Analysts. The world's leading companies, including GlaxoSmithKline, Johnson & Johnson, Monsanto, Rio Tinto and Salesforce.com, rely on Fieldglass to gain visibility into complex services spend, improve worker quality, enforce both corporate and external compliance and realize greater contingent workforce program efficiencies. For more information, visit www.fieldglass.com.
ABOUT ERNST & YOUNG ENTREPRENEUR OF THE YEAR®
Ernst & Young Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.
SOURCE Fieldglass, Inc.