SelectHub Emerges from Stealth Mode to Curb Shadow IT and Increase Value from Technology Investments

  SelectHub Emerges from Stealth Mode to Curb Shadow IT and Increase Value
  from Technology Investments

SelectHub Launches New Platform for Collaborative Software Evaluation, Vendor
Sourcing and IT Procurement

Business Wire

DENVER -- June 26, 2013

SelectHub™, a new platform for visibility and collaboration across IT software
investments, announced today the launch of the SelectHub™
software-as-a-service to global enterprises. As a streamlined solution for
company stakeholders to collaborate and interact with vendors across all areas
of software acquisition, SelectHub enables the adoption of a standardized
evaluation process that will increase the value of technology investments.

Coming off a successful exit of selling IT automation software vendor
Stratavia to HP in August of 2010, CEO of SelectHub, Venkat Devraj, sees
solving inefficiencies in enterprise technology procurement, evaluation and
vendor sourcing as his next big challenge.

Enterprises spend over $300 billion annually on software purchases including
SaaS, third-party and internally hosted solutions. Yet independent studies
have found failure rates for these software projects to be as high as 68

"Enterprise software has been plagued with a disproportionately steep failure
rate. Much of this can be attributed to fundamental communication challenges
within organizations. SelectHub focuses on increasing success rates by
applying modern collaboration and project coordination techniques to the
software evaluation process. CIOs, IT Finance and Procurement leaders would be
well served to take a closer look," said Shawn Rogers, Vice President at
analyst firm Enterprise Management Associates.

SelectHub delivers a modern collaborative environment where both IT and non-IT
constituencies can work together to evaluate, select and purchase the right
software and enterprise-oriented solutions. Users can seamlessly create a
project, invite stakeholders, define and combine requirements, short-list
products, research solutions, message vendors, issue RFIs, compare and rate
vendor responses, and manage Proof-of-Concept use cases, lab logistics, and
other deliverables.

“It is becoming common for individual users or departments within companies to
sign up for a new software or service and IT is the last to know. Without IT
and other key stakeholders’ involvement and guidance, the already excessive
software failure rates will continue to worsen while creating new problems for
IT,” said Devraj. “Enterprises need a platform that makes it easy for the
right stakeholders to come together and collaborate on purchasing not only the
best product for their requirements, but also one that has the best chances of
being successful in their environment based on relevant security and
compliance standards, as well as integration with prior software investments.”

With the rapid increase in decentralized or department-level IT spend, often
referred to as “shadow IT,” the launch of SelectHub comes at the perfect time.

Rajeev Ankireddypalli, Head of Information Technology at Advanced Energy
Industries, Inc. (NASDAQ: AEIS), stated, "The rise of decentralized technology
spend is casting tremendous pressure on IT, Procurement and Finance groups to
rapidly gain alignment amongst themselves, and with peer business units to
optimize investments. SelectHub's proposition of streamlining the technology
evaluation process and keeping all of these stakeholders in lockstep
throughout the entire procurement cycle is a timely one."

The SelectHub platform enables a streamlined evaluation process based on
industry best practices that accelerates procurement timelines, and makes IT
more accessible thereby eliminating the need for buyers to cut corners or
departments to have to resort to shadow purchases. SelectHub makes stakeholder
participation fast and easy, and makes all communications transparent and
auditable. To further accelerate solution research timelines, SelectHub’s
marketplace lists popular product options across a hundred different software

"SelectHub is definitely the next generation product that is going to simplify
and transform the cumbersome and politically driven Procurement process in
companies today,” said Ram Prabhakaran, Senior Manager, Information Technology
at Level 3 Communications (NYSE: LVLT).

About SelectHub

SelectHub is a new software-as-a-service offering aimed at enterprises for
technology evaluation, vendor sourcing and IT procurement. It enables a
streamlined and transparent technology acquisition process within the
enterprise, and offers a comprehensive set of evaluation stages including
preliminary research, real-time vendor communications, RFx, technical
due-diligence, business case analysis and contract negotiation. Based out of
Denver, CO, the company is founded by a team of successful repeat
entrepreneurs and is privately funded. The product is offered free of cost to
both buyers and vendors of software products, along with a subscription-based
Premium service that covers technology purchases beyond software.


Danielle Ostrovsky, (617) 860-6066
Press spacebar to pause and continue. Press esc to stop.