Question-and-Answer Session
(Operator Instructions) Your first question comes from Peter Goldmacher - Cowan & Company.
Peter Goldmacher - Cowan & Company-
I would like to hear a little more detail on the supplier networks. Specifically how successful were you in signing up new suppliers? Are suppliers pulling in new buyers? Some more thoughts on incremental ways you are monetizing the network and traction among existing suppliers who have not reached their minimums. Have you seen any of your customers start to transact and get above the minimums so they can actually start paying you?
Robert Calderoni
This was a good quarter on a number of the network metrics. I think we had a record quarter in the number of new suppliers that we enabled and are up to around 175,000 suppliers, and that is up around 10,000 suppliers from last quarter. It was a very good quarter in terms of enabling suppliers. That indicates a number of customers are pushing more and more suppliers and spend to the network. The number of transacting suppliers also went up nicely this quarter. The chargeable suppliers are increasing and the pipeline in terms of the network metrics looks good.
The number of customers that we are working with to enable more suppliers is very strong. We have a couple of very significant go-lives in the next one to two quarters with a couple of very large organizations that could be driving lots of new chargeable suppliers for us. We feel pretty good about that and all the underlying metrics give us confidence. Previously I have said we see 30% in organic growth in our network revenues and I think all the underlying metrics give us confidence that we should be able to see at least a 30% growth in 2009.
On the sell side, that is us selling network solutions to customers, we created a separate sales force for that a couple of quarters ago so we have been building pipeline. Pipeline trends have looked very good and they are now seasoned and we think Q4 is going to be a good quarter for closing a number of new invoice related deals which is tied right into the network strategy. We think things are going pretty well on that front.
Operator
Your next question comes from Robert Breza - RBC Capital Markets.
Robert Breza - RBC Capital Markets
If you look at 09’ could you give us some kind of flavor about how we should think of the geographic contribution? Should we expect an increased mix from Europe or how should we think about the regions trending for 09’?
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