Prophix Software ranked number 420 Fastest Growing Company in North America on Deloittes 2013 Technology Fast 500™
Attributes 177 percent revenue growth to "productization" strategy
Mississauga, ON, (Nov. 13, 2013) — Prophix Software., a leading developer of corporate performance management (CPM) software, is pleased to announce it ranked 420 on Deloittes Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Prophix grew 177 percent during this period.
Prophix's CEO Paul Barber credits the company's extensive domain knowledge and "productization" approach to software development as one of the key contributors to the company's disciplined growth. According to Barber, "we build the software from the ground up. We work collaboratively with our end users to add functionality and minimize complexity to ensure we consistently maximize the value to customers."
"Technology Fast 500 winners achieve success and strong growth as a direct result of their leadership, and commitment to innovation," said Richard Lee, Deloitte's National Managing Partner, Technology, Media & Telecommunications, Deloitte. "They are amongst the elite who transform the technology sector."
Prophix previously ranked 433 as a Technology Fast 500™ award winner for 2012.
Overall, 2013 Technology Fast 500™ companies achieved revenue growth ranging from 137 percent to 208,897 percent from 2008 to 2012, with an average growth of 2,600 percent.
About Deloittes 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base–year operating revenues of at least $50,000 USD or CD, and current–year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Prophix Software Inc.
Prophix is a leading developer of innovative performance management solutions designed to automate financial and operational processes. Thousands of finance leaders in nearly one hundred countries use Prophix to empower their organizations and gain valuable insight into business performance. Prophix and its partners deliver superior value by combining high-end functionality with low cost-of-ownership and fast implementations. For more information, visit www.prophix.com.