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First-Ever List of the 5,000 Fastest-Growing
Businesses Reports Total Revenue of $194.5 Billion
WorkForce Software Ranks No. 1,613 on
the 2007 Inc. 5,000 with Three-Year Sales Growth of 221.6%
Livonia , Mich. , August
24, 2007 –Inc. today ranked WorkForce Software No.
1,613 on its first-ever Inc. 5,000 list of the fastest-growing
private companies in the country. The Inc. 5,000, an extension
of Inc. magazine’s annual Inc.
500 list, catches many businesses that are too big to grow
at the pace required to make the Inc. 500, as well as a
host of smaller firms. Taken as a whole, these companies
represent the backbone of the U.S. economy.
“The Inc.
5,000 provides the most comprehensive look ever at the
most important part of the economy – the entrepreneurial
part,” said Inc. 5,000 Project Manager
Jim Melloan. “The expansion of the list has allowed
us to tell the stories of larger companies, older companies,
and a wealth of companies in industries like Manufacturing
and Construction that are underreported in the business
media.”
A provider of workforce management software,
WorkForce Software’s EmpCenter suite helps mid- to
large-sized organizations collect worked time, control
schedules, and calculate pay information. Unlike competing
products, EmpCenter adapts to the most complex business
rules without reprogramming.
Because new government regulations,
labor contracts, and other factors rapidly change, most
organizations began turning to software vendors for help.
Recognizing this trend, payroll expert Kevin Choksi made
his vision a reality. In 1999, Mr. Choksi, president and
CEO, funded the start-up of WorkForce Software to develop
an automated method for collecting and processing time
and labor information to solve these complex issues.
Mr.
Choksi credits the 221-percent revenue growth over the
past three years to the flexibility of its EmpCenter software
solution and the experience and dedication of the team. "Our
goal is to provide the most flexible workforce management
system on the market,” said Choksi. “In Business,
we stick to our core strengths and re-invest a large portion
of revenue back into research and development. The results
are positive, as we have grown our customer base, our revenues,
and our profits steadily over the years. Being recognized
as one of the Inc. 5,000 fastest-growing private companies
in the country is an exceptional honor and we are proud
of our team’s accomplishments."
The 2007 Inc. 5,000, as revealed online at www.inc.com,
reported median revenue of $9.4 million and median three-year
growth of 140 percent. Complete information on this year’s
Inc. 5,000, can be found at www.inc.com/inc5000. The list
features a profile for each company, almost all of them
written as a result of Inc. interviews with management.
In addition, the list is searchable according to numerous
criteria, including industry, city, state, region, and
year founded.
Hottest Regions for Fastest-Growing
Companies
Leading the list of the fastest-growing companies in the
nation is the Midwest region with 1,046 of the fastest-growing
companies, followed by the West with 884 companies. The
Southeast comes in a close third, with 872 companies, followed
by the Northeast with 782 companies, and the Mid-Atlantic
region with 606 companies.
Hottest Industries for Fastest-Growing
Businesses
The largest business category is Construction,
with 561 of the fastest-growing companies in this category,
followed by Manufacturing with 515 companies, IT services
in third with 466 companies, Business Services with 377
companies and Advertising & Marketing with 349 companies
round out the top five industries ranked on the 2007 Inc.
5,000.
Industries reporting the highest total revenue in
2006 are Construction ($27.1 billion), Manufacturing ($18.6
billion), Health ($13.1 billion), Computers & Electronics
($12.7 billion), and Financial Services ($11.8 billion).
Methodology
The 2007 Inc. 5000 list measures revenue growth from 2003
through 2006. To qualify, companies had to be U.S.-based
and privately held, independent – not subsidiaries
or divisions of other companies – as of December
31, 2006, and have had at least $200,000 in revenue in
2003, and $2 million in 2006.
Companies can apply for next
year’s Inc. 500 and
Inc. 5,000 by registering with IncBizNet, the new social
network for private companies that will launch this fall
on Inc.com.
About Inc.com:
Inc.com, the Daily Resource for Entrepreneurs, delivers
advice, tools, breaking news, and rich multi-media to
help business owners and CEOs start, run, and grow their
businesses more successfully. Information and advice
covering virtually every business and management task,
including marketing, sales, finding capital, managing
people can be found at http://www.inc.com.
About WorkForce Software
View a PDF of this release
Media Contact:
Melissa Diemert, Corporate Communications Manager
WorkForce Software, Inc.
mdiemert@workforcesoftware.com
(734) 742-3594
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