| Home | News | Press Releases | 2005 | |
Press Release |
|
199% Increase in Revenues Ranks Tenrox #24 on Deloitte Technology Fast 50 Program for Los Angeles For a second year in a row, Tenrox, the Integrated Operational Control and Compliance Software Company, has been named to Deloitte's prestigious Technology Fast 50 Program for Los Angeles, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation's leading professional services firms. Tenrox ranked 24th based on the company's 199 percent increase in revenues from 2000 to 2004. Rankings are based on the percentage revenue growth over the five year period. In 2004, Tenrox ranked 16th on Deloitte's Fast 50 Program. “Deloitte's Los Angeles Technology Fast 50 companies have shown the strength, vision and temerity to succeed in today's very competitive technology environment,” said Tim Lovoy, partner, Technology, Media & Telecommunications, Deloitte & Touche LLP. “We applaud Tenrox's success and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years.” Tenrox President Rudolf Melik credits several reasons for the company's consistent revenue growth and profitability such as the company's exclusive focus on creating, innovating and delivering project and workforce management solutions built on the Microsoft Office and Server platform. “Over the past five years, we’ve strengthened our relationship with Microsoft by achieving Gold Certified Partner status, Microsoft Enterprise Project Partner, numerous Microsoft related competencies and winning a number of Microsoft sponsored awards,” said Mr. Melik. “We’ve also made consistent investment in R&D equivalent to at least 25% of the company's total annual budget.” Other factors cited by Mr. Melik include an intense commitment to customer satisfaction which has led to considerable customer re-buys, larger investments and a growing referral network that helps Tenrox find new customers without spending a lot on marketing. The company also promotes an internal culture of discipline that rewards results rather than seniority, and aligns executive and employee compensation with the company's financial performance by awarding bonuses and profit distribution based on an employee rating system. To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2000 and $1,000,000 in 2004, must be public or private companies headquartered in North America, and be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify. Winners of the 15 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein. Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP. About Tenrox Tenrox empowers client companies to meet the challenges of globalization, enterprise fragmentation and increased regulatory scrutiny. Available on-demand or on-premise, Tenrox project workforce management solutions have served more than 800 organizations in 50 countries, maximizing efficiency, data security and reliability. Since 1995, Tenrox has served organizations such as Rio Tinto Alcan, E*TRADE Securities , First National Bank, Visa, Hydro Quebec, Invensys Systems Canada, Major Drilling, Pioneer Natural Resources, US Army, The Pentagon, Talisman Energy, University of Michigan, Northrop Grumman, Oxfam, Thermo Fisher Scientific, Estee Lauder and Wyeth. Tenrox software is available through direct sales channels and a network of worldwide partners. For more information about the company or its award-winning family of products, go to www.tenrox.com. Media Contact:
Product or service names mentioned herein are the trademarks of their respective owners. |
|
