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The Company is a provider of print procurement solutions to corporate clients in the United States.
InnerWorkings Inc is a leading provider of print procurement solutions in the U.S. By utilizing its proprietary technology and databases, the company creates a competitive bid process to procure, purchase and deliver printed products as part of a comprehensive outsourced enterprise solution and in individual transactions. The company procures printed products for clients across a wide range of industries such as advertising, consumer products, publishing and retail.As per Datamonitor figures, the total shipments of the commercial print industry stood at $373 billion in 2005 and are expected to $ 418 billion by 2010. Many corporates seek to focus on core competencies and outsource non-core business functions, such as print procurement to become competitiveThe company recently acquired a leading provider of print management services based in California called Spectrum Printing Systems. This acquisition marks a significant presence for InnerWorkings in the South California print market. Spectrum also provides promotional products, apparel and complete warehousing and fulfillment services. Also in October 2006, the company acquired Applied Graphics, a provider of print management and print-on-demand services in California. This acquisition would help InnerWorkings to establish a significant presence in California, Hawaii and Nevada by adding 35 sales executives, 1000 transactional clients and 500 new suppliers.Acquisitions represent significant up-sell and cross-sell opportunities for INWK by allowing the company to leverage its product offering and continue to play a central role in INWK's growth strategy, which is evident by three acquisitions over past one year. The stock of InnerWorkings offers good opportunity for long-term investors as transactional relationships gained via acquisitions serve as a pipeline for the company's enterprise accounts.
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