JAGGAER Announces New Chief Executive Officer, Andy Hovancik

Proven Software Industry Veteran to Drive Continued Growth and Customer Success for Autonomous Commerce Leader

JAGGAER, a world leader in Autonomous Commerce, today announces the appointment of Andy Hovancik as Chief Executive Officer and member of the Board of Directors. Hovancik is a seasoned executive with proven success leading international, rapid-growth SaaS solutions providers across the financial, manufacturing and services sectors. Hovancik will lead JAGGAER into its next phase of growth, advance its vision and leadership position, and equip the company to continue to deliver exceptional customer success.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230605005775/en/

Andy Hovancik, JAGGAER Chief Executive Officer (Photo: Business Wire)

Hovancik joins JAGGAER after more than ten years as CEO of Sovos Compliance, a global leader in international tax compliance and business-to-government reporting software that serves thousands of organizations worldwide. During this time, through a comprehensive organic expansion strategy, augmented by the organizational integration of 30 acquisitions, Sovos grew to become a category leader. The company experienced compounded revenue growth of over 25%, over 30% EBITDA year-over-year and a 9x increase in staffing to 2,700 worldwide employees.

“JAGGAER’s Autonomous Commerce revolution is occurring at precisely the right time. Today’s well-known global supply chain and talent challenges, economic uncertainty and companies’ needs for ESG-guided efficiencies make enterprise commerce ripe for transformation,” said Andy Hovancik. “JAGGAER is well-positioned to deliver on its vision to help procurement teams do things they never could before across the end-to-end source-to-pay process. I’m thrilled to join the team and help lead this industry transformation for JAGGAER’s thousands of global customers and partners.”

“We see limitless potential for JAGGAER’s future. JAGGAER is already a global leader in solving complex supply chain and source-to-pay issues with over 1,750 customers worldwide, including some of the largest global firms,” commented John Burton, Chairman of the Board. “We firmly believe it’s the right time to assert our vision and further deliver our transformative capabilities to our market. We’re confident that Andy will help us bring our Autonomous Commerce vision to life, further enhance our best-in-class offering for our customers and provide a fulfilling environment for our team.”

Over five million global suppliers and $500 billion worth of goods flow through JAGGAER’s Enterprise Commerce Network. Learn more about Autonomous Commerce.

About JAGGAER: Autonomous Commerce

JAGGAER is leading the Autonomous Commerce revolution, a self-governing B2B commerce experience between buyers, suppliers, things (IoT) and partners. Over $500 billion worth of goods flow frictionlessly through our Enterprise Commerce Network every year. Leveraging AI and machine learning, our intelligent procurement solutions provide enterprise buyers and suppliers smart-match recommendations that align buyer needs with supplier capabilities. Our solutions autonomously execute many of the repetitive, behind-the-scenes tasks required to facilitate enterprise commerce. We are Networked, Intelligent, Comprehensive and Extensible. We are over 1,200 employees strong, all focused on customer success. For more information, visit www.jaggaer.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005775/en/