BIQ is privately held and has been profitable since 2005. The BIQ product is in active use by multiple onshore and offshore consulting companies, both large and small; their use of BIQ on behalf of their clients constitutes a primary lead-generation channel.
Most customers build at least one A/P dataset, but the vast majority of BIQ datasets are not built from A/P data. Some customers have built 35 or more datasets, using widely varying data sources within the enterprise, including invoices, phone records, repair records, sales and marketing information, HR data, and so on. Thus, a substantial percentage of BIQ revenue comes from use of the product in areas outside what analysts would term "conventional" spend analysis. We see this trend continuing, since every company has a treasure trove of data that is at best only poorly analyzed, and much of that data resides outside of the A/P or ERP system.
BIQ believes strongly that the real value of data analysis tools comes from high power and maximum flexibility, and that a conventional "data warehouse" approach to transactional data analysis cannot support the information demands of the modern enterprise.