(By Balaseshan) InnerWorkings Inc. (NASDAQ: INWK), a provider of global print management and promotional services, said it has expanded its multi-year enterprise print management relationship with a major U.S. grocery retailer.
Under the new agreement, InnerWorkings will add direct mail and in-store point of sales to the existing outsourced print procurement partnership.
These new categories are in addition to InnerWorkings' current management of inserts, paper and other sourcing, which is expected to grow the relationship by about 40 percent.
"We are delighted to expand on an already successful relationship with such a premier grocery organization. Their senior management recognized the value we bring with our retail print management solution and chose to add to it and capture additional value," said John Eisel, chief operating officer of InnerWorkings.
InnerWorkings will assign a team of roughly 15 print production managers based both onsite at the client and at InnerWorkings office to support the business. This dedicated team will work directly with this client's marketing and procurement groups on a daily basis.
The company procures, manages and delivers printed materials and promotional products as part of a comprehensive outsourced enterprise solution. Its software applications and database, PPM4, create a fully integrated solution, which stores, analyzes and tracks the production capabilities of its supplier network, as well as quote and price data for print jobs.
INWK is trading up 0.35 percent at $14.15 on Tuesday. The stock has been trading between $8.09 and $15.06 for the past 52 weeks.