WALLED LAKE, Mich.
Aug. 18 /PRNewswire/ -- Paramount Technologies, the leading global provider of midmarket Employee Workforce Automation solutions, announced today that it has been named one of the 5000 fastest growing private companies in America by Inc. magazine. With three-year sales growth exceeding 55%, Paramount Technologies joins the list for the first time and is the fourth-ranked software company in the State of Michigan.
The Inc. 5000 list represents the most comprehensive look at the most important segment of the economy - America's independent-minded entrepreneurs, and is widely recognized as a prescient indicator of companies and industries that are on a track for sustained success.
"Paramount Technologies expects to see continued growth as more and more companies recognize the value and importance of employee workflow automation. Leading businesses know that controlling spending and maximizing employee productivity are essential to their continued success. The savings our WorkPlace solutions deliver go straight to each company's bottom line," said Salim Khalife, President and CEO, Paramount Technologies.
The Paramount Technologies WorkPlace Suite includes WorkPlace eProcurement, WorkPlace Project Accounting, WorkPlace Time Management and WorkPlace Expense Management. WorkPlace eProcurement automates and accelerates traditionally inefficient paper-based requisition processes, reducing direct and indirect purchasing costs, reducing requisition-to-order costs and cycle time, increasing control over business transactions and streamlining employee requisition management.
Methodology
The 2009 Inc. 5000 list measures revenue growth from 2005 through 2008. To qualify, companies must be U.S.-based and privately held, independent - not subsidiaries or divisions of other companies - as of December 31, 2008, and have had at least $200,000 in revenue in 2005, and $2 million in 2008. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
About Paramount Technologies
Paramount Technologies is the leading global provider of web-enabled Employee Workforce Automation solutions delivering reduced transaction costs and enhanced process efficiencies to midmarket and enterprise organizations through the automation of procurement, requisition, project, time and expense transactions. Established in 1995, Paramount is a private company headquartered in Walled Lake, MI with offices in Atlanta, GA and Jacksonville, FL.
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