Moorestown, NJ, November 7, 2008 — PayChoice has been named to Deloitte’s prestigious Fast 50 Program for Greater Philadelphia, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in the area by Deloitte LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2003–2007.
PayChoice’s CEO Robert Digby attributes the company’s 393 percent revenue growth from 2003–2007 to the company being the “go to” payroll solution provider and the exceptional value delivered to clients. Digby said, “PayChoice provides much more than just payroll. We offer a broad suite of services that help small business owners manage employees ‘from hiring to retiring,’ enabling them to focus more on running and growing their business. Because our service delivery is second to none and our pricing very competitive, our clients receive the best value in the market. And having three modes of delivery – self-service, full-service outsourcing and licensing – means we have an offering to meet the need of any business owner.”
PayChoice’s increase in revenues of 393 percent from 2003 to 2007 resulted in a ranking of 15th in the Fast 50 for Greater Philadelphia. The average increase in revenues among companies who made the Fast 50 for this region was 763 percent. The Greater Philadelphia Fast 50 program is presented by Deloitte and sponsored by Fragomen, Del Rey, Bernsen & Loewy, LLP, The Judge Group, and UK Trade & Investment.
“Deloitte’s Greater Philadelphia Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Michael J. Purcell, Greater Philadelphia Marketplace Technology, Media, and Telecommunications Leader, Deloitte & Touche LLP. “We applaud the successes of PayChoice and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.”
To qualify for the Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies’ technology or intellectual property in a unique way does not qualify.
Winners of the regional Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications, and life sciences companies. PayChoice ranked at number 367 on the Technology Fast 500 in 2007. For more information on Deloitte’s Fast 50 or Fast 500 programs, visit www.fast500.com.
About PayChoice
PayChoice is the nation’s largest privately-held payroll company and provides payroll and employee management services for small- and medium-sized businesses (SMB)s. In addition to its core payroll and tax administration offerings, PayChoice’s suite of services also includes HR compliance and counseling services, workers compensation insurance, 401(k) solutions and Section 125 solutions, time and attendance and background checks. PayChoice delivers its services to over 150,000 SMBs and nearly 2 million employees both directly and through approximately 260 payroll service bureau licensee.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
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