Ion Wave Technologies, Inc. (IWT) was formed in May 2002 after purchasing the key assets of Way2Bid, another electronic procurement company. As part of Way2Bid, IWT’s founders were responsible for technology that facilitated the first Internet-based, interactive electronic bid events in August of 1997. Since that time, we have successfully transitioned from PC-based software to what is now our sixth generation web-based enterprise application. In the 13+ years we have been developing electronic procurement solutions, we have assembled a first class team of software developers and support staff, enabling us to deliver high quality software and support to the market. Key dates in our history:
· In 1997, facilitated the first Internet based interactive bidding events for a large K-12 school district.
· In 1998, released the first Internet based electronic sealed bid solution to our customers.
· In 1999, filed currently pending patent applications for interactive sealed bidding solutions.
· In 2000, facilitated bids for the statewide Nebraska Educational Cooperative, comprising demand polling and interactive bidding on approximately 2,000 items.
· In 2001, implemented and deployed multiple eProcurement catalog shopping and electronic bidding solutions, including a statewide implementation of 500+ school districts with more than 18,000 items. Way2Bid purchased the key assets of Kawama Commerce.
· In 2002, IWT purchased the key assets of Way2Bid and formed IWT. Developed third generation solutions.
· In 2003, implemented a statewide cooperative eProcurement catalog solution enabling more than 12,000 attendance centers with eCommerce shopping and ordering capabilities. Implemented our bidding solution for a cooperative serving 85 school districts – including 22 annual cycle bids for 3300 line items.
· In 2004, developed fourth generation bidding and catalog solutions, including reverse auction and demand aggregation functionality. Signed a key partnership with SciQuest, Inc., the leading electronic procurement provider in Higher Education and Life Sciences, to resell IWT’s sourcing products.
· In 2005, reached profitability with the continued rapid growth of our customer base. Implemented electronic procurement solutions for cities, utilities, cooperatives, and universities.
· In 2006, released 5th generation eSourcing solution and expanded company’s profitability while doubling our customer base.
· In 2007, released IWT’s integration messaging platform to integrate Enterprise Sourcing with virtually any financial management system. Continued to expand company’s profitability and increased our customer base.
Over $2 Billion in procurement transactions facilitated by Ion Wave Technology's software applications.
· In 2008, released 6th generation eSourcing solution including Bid Workflow module. IWT won a nationwide cooperative purchasing Request For Proposal for eProcurement and eSourcing solutions. Increased sales by 45% and profit by 100%.
· In 2009, developed and deployed Consortium eSourcing solution enabling multiple, common entities to leverage one eMarketplace solution and supplier population. IWT won a second nationwide cooperative purchasing Request For Proposal for eProcurement and eSourcing solutions. Continued customer expansion and profitability.
· In 2010, developed and deployed our Contract Management and Insurance Certificate tracking module greatly assisting client’s in managing contract terms. Continued customer expansion and profitability.
· In 2011, successfully deployed eSourcing with the State of Iowa's Department of Administrative Services. Expanded Contract Mangement abilities to operate in a stand alone deployment and/or integrated with Enterprise Sourcing. Won third cooperative purchasing contract with the Educational Purchasing Cooperative of North Central Texas.
History of Ion Wave Technologies, Inc.
