IQNavigator Wins Four New Workforce Management Contracts; IQNavigator To Provide Web-Based, Contingent Workforce Management Solution

Business Wire, August 6, 2001

Business Editors

DENVER--(BUSINESS WIRE)--Aug. 6, 2001

IQNavigator, Inc. (www.iqnavigator.com), the leading provider of contingent workforce management applications and services, today announced it will provide its comprehensive solution suite, offered in both a business process outsource and self-service model, to four large enterprise customers, totaling approximately $20 million in contract value.

"Our ability to execute in a tight market by way of growth in enterprise customers, supplier agencies, annual backlog revenue and contract value separates IQNavigator as the market leader in the contingent workforce management industry," said John Raeder, IQNavigator president and CEO. "Our progress this quarter has grown our annual revenue backlog by greater than 100% quarter over quarter."

IQNavigator's Web-based solution helps find, procure, manage and measure contract labor while automating each step of the human capital services supply chain, including submitting requisitions, matching open jobs to resources, entering contractor time, invoicing and collections.

IQNavigator's streamlined, centralized process for procuring and managing contingent labor provides each client with a consistent, controllable approach to maintaining suppliers, contract labor and the associated spend. IQNavigator's solution substantiates significant cost reductions between 15-25% in both hard and soft dollar savings by improving bill rates, leveraging volume discounts, increasing process efficiencies and implementing better controls.

About IQNavigator, Inc.

Headquartered in Denver, IQNavigator provides companies with enterprise-strength, Web-based applications and services that enable companies to better find, procure, manage and measure contract, contract-to-hire and full-time labor. IQNavigator's offerings provide streamlined, human capital supply chain management for Fortune 2000 companies, helping them increase organizational communication, save money and win the war for talent.

IQNavigator's contractor workforce management solutions are built around a patent-pending matching engine and enterprise-strength architecture, delivered in a Web-hosted environment. For more company information, visit www.iqnavigator.com or call 303/563-1500.