Nextance Inc., the top choice for enterprise-wide contract management (CM), today announced placing in the top quarter of the 2006 Inc. 500 list, Inc. magazine's 25th annual ranking of America's fastest-growing private companies. As the highest-ranked company in the CM industry, Nextance's #108 spot is fueled by its 863% revenue growth over the last three years.
This impressive growth is linked to market recognition of the need for greater visibility and control over contractual relationships, as well as to increasing demand for Nextance's unique approach to surfacing hard dollar value from contractual relationships, driving standards across the enterprise, controlling risk and liability, and enforcing compliance (SOX and other). With its ability to address complex business issues in global environments, Nextance recently won the largest deals in industry history with top Fortune 500 companies; and its new offering, Contract Insight Now!, is gaining momentum with companies that want to start finding revenue and savings opportunities from their contractual relationships in just one week.
"We are pleased to be recognized as the fastest-growing private company in both our industry and Silicon Valley software," said Kyle Bowker, president and chief executive officer for Nextance. "Companies choose Nextance not only for our innovative technology solutions but also, more importantly, for our vision, strong domain expertise, and commitment to help customers get the most from their investment with us. Existing customers also help propel our growth by extending their initial investment across the enterprise for even greater value."
The Inc. 500 list confirms that contract management is one of the fastest-growing areas of business technology. Meeting the worldwide demand for best-of-breed solutions, Nextance solves challenges beyond the usual procurement or supply chain concerns that many competitors are still focused on -- extending CM solutions to also support revenue, sales productivity, intellectual property, customer upsell, and customer satisfaction-related initiatives. New industry-first products from Nextance later this year will drive even more growth and further enhance the company's leadership position in contract management.
"If you want to find out which companies are going to change the world, look at the Inc. 500," said Inc. editor Jane Berentson. "These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can't live without. The Inc. 500 list is Inc. magazine's tribute to American business ingenuity and ambition."
About Nextance Inc.
Nextance is setting the standard for enterprise contract management (CM) solutions with innovative software and best-practices professional services. Global 2000 companies are improving financial and business performance by using Nextance CM to improve the standardization, visibility and control of their contractual relationships. Countrywide, Covenant Health, Eastman Chemical Company, Fireman's Fund, Genzyme Corporation, Google, Juniper Networks, Peabody Energy, Sasol, Sun Microsystems, and others are using Nextance software every day to tap into the value that is written into each of their thousands of revenue, procurement, intellectual property licensing, and partner agreements. Nextance is based in Redwood City, CA, and is privately held. For additional information, visit: www.nextance.com.
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