ICG Commerce says business up 50% since Sept.

ICG Commerce Inc., a King of Prussia technology company that helps businesses cut the cost of purchasing supplies and services, said today that the amount of expenses it manages for other companies is $10.2 billion, a 50 percent increase since last Sept. 30.

Privately held ICG Commerce, a partner company of Wayne-based Internet Capital Group Inc., attributed the increase to new or expanded contracts with companies including Whirlpool, Teva Pharmaceuticals, Goodyear and Cameron International.

"Current economic conditions force companies to seek additional ways to cut costs," said Carl Guarino, chief executive officer.

He said the firm's procurement and sourcing role can "deliver hundreds of millions of dollars in savings that drop straight to the bottom line."

ICG Commerce provides outsourced procurement of such routine services as managing transportation, physical plant, and maintenance.