Prophix ranks 45 in the Deloitte Technology Fast 50™ Program
Winners to be celebrated at Gala Banquet on 13 November in Toronto, Canada
Mississauga, ON, (November 13, 2013)
— Prophix Software., a leading developer of corporate performance management (CPM) software, is pleased to be named as one of Canada's fastest growing technology companies in the Deloitte Technology Fast 50™ awards for technological innovation, entrepreneurship, rapid growth and leadership. The recognition is based on the percentage of revenue growth over five years. Prophix's increase in revenues of 177 percent from 2008 to 2012 resulted in a 45 ranking.
"Canadian Fast 50 companies innovate, demonstrate leadership, create jobs, and invest in R&D," said Richard Lee, Deloitte's National Managing Partner, Technology, Media & Telecommunications. "They are remarkable companies that show dedication, drive and commitment that are key to growth in the Canadian technology sector."
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."
Now in its 16th year, the Deloitte Technology Fast 50™ program recognizes leaders in the Canadian technology industry and tracks the successful growth of Canadian–grown global leaders. The program augments the broader Deloitte North American Technology Fast 500™ initiative, with winners automatically eligible for this elite ranking.
To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada's pre–eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50™ Ranking, Companies–to™ Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50™ candidate,) Leadership Awards (companies that demonstrate technological leadership and innovation within the industry) and the Deloitte Technology Green 15™ Awards (Canada's leading GreenTech companies that promote a more efficient use and re–use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Bennett Jones and OMERS Ventures. For further information, visit www.fast50.ca
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.