eWork and ProSavvy, Inc. today announced the official conclusion of their merger and financing. The combination creates the leader in consulting projects and contracted workforce services procurement, management and payments, with annual revenues of $42 million dollars.
eWork offers an industry leading, integrated web-based solution for consultant and project work services sourcing, contract labor management and outsourced back-office payment operations. The company will continue to focus on a collaborative platform that addresses the marketís clear need for integrated contracted services-related solutions. The move creates an offering in the space that is unmatched in its ability to provide complete services procurement solutions.
ìProSavvyís sourcing solution and extensive consultant network combined with eWorkís contractor procurement, management and payment solutions will enable us to help customers solve a broader range of business problems related to the management of contract labor and project outsourcing,î said David Proestos, President of ProSavvy. ìTogether we will have the most complete, robust and proven technology combined with outsourced services on the market todayî.
Hans Bukow, President and CEO of eWork, describes the merger as a natural, customer-driven business progression. ìBusinesses are spending more than half of each procurement dollar on services, and procurement savings is quickly becoming a top priority for CEOís. Companies need innovative solutions that donít consist of complex integration of multiple point solutions and service offerings. As the leading provider of world-class, web-based products and outsourced services that optimize the supply chain for performing projects and contractor based work; eWork is well-positioned to grow its share of the multi billion dollar eProcurement and Management market for contracted services.î
eWorkís stand-alone or integrated corporate solutions provide for web-based consultant sourcing, contract labor management and back office operations that are integration-ready, innovative, flexible and powerful.
Different from its competitors, and innovative from eWork is its integrated capability to provide outsourced business services, ìback-officeî operations that help manage the sourcing of consultant services, process 1099 contractors, aggregate billing from smaller staffing providers in complement to the main suppliers - all on the same enterprise platform. The collaborative approach provides for a much more streamlined solution to handle the often difficult, costly, distributed, out-of-compliance disorganized processes associated with procuring, managing and paying consultant projects and contractors.
ìIn addition to bringing together two great organizations, the strong endorsement from our customers and joint shareholders, as well as further investor financing has resulted in the creation of an unparalleled sourcing, management and payment solution company, which now becomes the market leader in work related services procurement,î said Bukow. ìeWork now possesses a leading customer-driven, cost-saving strategy providing best-in-class offerings and capabilities with the best technology, feature-set and consultant network on the market. eWork also now has the distinction of being the largest and most profitable company in this space!î
eWork and ProSavvy Announce Merger and Financing
The combination creates the leader in consulting projects and contracted workforce services procurement
