Demand for Industry's Only Vendor Management System (VMS) Powered by Oracle Propels Provade to Record Number of Deployments in 2010

SAN MATEO, Calif., Jan. 11, 2011 – Leveraging an integrated Oracle architecture, Provade Inc. announced today it has implemented a record number of Vendor Management System (VMS) installations in 2010. This is the second straight year the company, whose web-based technology helps businesses manage their contingent workforce and outside services spend, has doubled its annual number of deployments and revenue.

Offering the industry’s only enterprise-class VMS, Silicon Valley-based Provade deployed its software to 12 companies this year, bringing its total number of clients to 47 businesses in 40 countries. Today, more than $2 billion in contingent labor and statement of work (SOW) spend runs through Provade’s platform.

Tibor Beles, Vice President of Business Process Outsourcing at Oracle, said, “Provade offers a unique VMS solution built on Oracle’s enterprise platform, that meets a growing market demand for VMS services.  Combining Provade’s process expertise and services with Oracle’s proven enterprise applications in a subscription model makes Provade’s solution a strong VMS offering.”

Provade VMS represents a particularly powerful tool for companies with global operations, offering the ability to handle multi-language and multi-currency transactions and provide up-to-date tax and regulatory information for dozens of countries.

“Provade’s relationship with Oracle has been a key factor in helping us achieve another record year,” said Provade President and CEO Edward Jackson. “We are seeing a lot of interest from companies that recognize the importance of an enterprise-class VMS solution that leverages existing procurement, human resources, and financial systems.”

Provade is an Oracle Tier 1 BPO Provider and a Gold level member of Oracle PartnerNetwork.

About Provade

Provade, Inc. delivers the only enterprise Vendor Management System (VMS) for global workforce spend management. Provade’s Software as a Service (SaaS) solution helps businesses achieve efficiency and measurable savings in their staffing, statement of work (SOW) and services spend. Leveraging best in class technology, Provade VMS delivers business process flexibility, robust analytics and complete integration with ERP systems. For more information, visit www.provade.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates.