IQNavigator Inc. is upgrading its namesake spend management software to give companies more control over the services they purchase from outside contractors and consultants.
Version 6.2, which the Denver-based company will roll out next month, goes beyond tracking the time spent by a professional-service provider, such as an accountant, by adding capabilities for tracking services that include deliverables.
For instance, this would enable a company to track the number of bottles of shampoo a facilities management service provider delivers or the number of acres of land a lawn-care service mows, said John Martin, senior vice president for strategy and technology at IQNavigator.
Version 6.2 also adds support for LDAP for enhanced user authentication and profile management. IQNavigator hosts most instances of its software, and customers access it via the Web. With the new LDAP support, users can be authenticated on their local intranet and then access IQNavigator without entering a new password prompt, Martin said.
Other new features in Version 6.2 include support for reverse auctions and for more granular sorting of RFPs (requests for proposals) that are submitted in multiple currencies.
Down the road, IQNavigator will add support for tracking how well a service provider is living up to its SLA (service-level agreement). This support will appear in Version 7, which likely will be available next year, Martin said.
IQNavigator is also working with the Big Four consulting companies on specific branded offerings that would include IQNavigator technology to analyze a clients spending on procurement, Martin said.
Having seen the spotty past that some ASPs (application service providers) have had, IQNavigator has worked hard to make sure its hosted software is bulletproof, Martin said. "IT shops are getting more sophisticated in vetting [ASPs] on their disaster recovery," he said. "We are an integrated part of their business."