ServiceBench Ranked Among the Fastest Growing Tech Companies in North America on Deloitte's Fast 500
ServiceBench Attributes its Significant Five-Year Revenue Growth to Increasing Service Supply Chain Complexity and Demand for Service Management Solutions
FAIRFAX, VA ... November 1, 2006 - ServiceBench, the leading provider of web-based service management applications, today announced that it was included on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. ServiceBench experienced significant growth during this period.
ServiceBench's CEO, Michael Dering, credits the company's notable five-year revenue growth to increased service supply chain complexity and heightened demand for service management solutions. Dering said, "Manufacturers and retailers rely on a highly complex network of service providers to support their products and satisfy their customers. Our solutions add a new level of organization and structure to these processes resulting in greater efficiency and improved customer loyalty."
"Making Deloitte's Technology Fast 500 is commendable in today's highly competitive technology industry," said Tony Kern, deputy managing principal of Deloitte's Technology, Media & Telecommunications industry practice. "We congratulate ServiceBench on being one of the 500 fastest growing technology companies in North America."
Overall, companies that ranked on the 2006 Technology Fast 500 had growth rates ranging from 210 to 48,948 percent over five years, with an average growth rate of 2,147 percent.
In addition to ranking on Deloitte's Technology Fast 500, ServiceBench was also included on Virginia's Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in the region.
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte's 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500 and public company database research. Companies are selected based on percentage revenue growth from 2001 to 2005.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.
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About ServiceBench
ServiceBench is the leading provider of web-based solutions for integrating the service supply chain. With ServiceBench, manufacturers, retailers, extended warranty providers, parts suppliers, distributors and service providers streamline processes, save time and money, and increase customer satisfaction. ServiceBench solutions work together to fully integrate the complete range of service management activities including service call management, field service management, parts management, repair management and warranty management. Additional information is available online at www.servicebench.com.
About Deloitte
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Media Contact
Lee Harbin
Director of Marketing
703-592-0036
lharbin@servicebench.com
