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Concur named to Deloitte & Touche Technology Fast 50 Program
By siliconindia
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Friday, 26 September 2003, 19:30 IST
REDMOND: Concur Technologies, Inc., the leading provider of Corporate Expense Management solutions, today announced that it has been named to Deloitte & Touche's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest growing technology companies by Deloitte & Touche LLP, one of the nation's leading professional services firms. Technology Fast 50 rankings are based on the percentage of growth in fiscal year revenues over five years, from 1998-2002.
Steve Singh, chairman and chief executive officer for Concur Technologies credits Concur's laser focus on the corporate expense management market segment and its investment in its subscription service business with the company's rapid growth over the past five years. Mr. Singh said, "Like payroll, every company across the globe has to deal with managing expense reports. Concur Technologies has focused its energies these past 10 years on streamlining this time-consuming process for companies of all sizes. We are proud to be recognized by Deloitte & Touche as one of the fastest growing technology companies in Washington State."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1998 and $1,000,000 in 2002, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues; and/or devoting a significant proportion of revenues to research and development of technology.
"The Deloitte & Touche Washington State Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment," said Larry Hile, Partner, Deloitte & Touche, Technology, Media, and Telecommunications Practice. "We applaud the success of Concur Technologies and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years."
Winners of the 20 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast500.com.