Scivantage today announced it has been named to Deloitte's prestigious Technology Fast 50 Program for New Jersey, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2002-2006.
Scivantage's CEO Adnane Charchour credits a dedication to innovation and a blue-chip client portfolio as driving the company's 2,948 percent revenue growth from 2002-2006. Charchour said, "We are delighted to be ranked near the top of the Deloitte Tech Fast 50 alongside other technology companies. This recognition is an excellent measure of Scivantage's innovative technology, strong client base and dedicated professionals. With continued focus on helping financial institutions simplify, automate and reduce the costs of financial transactions, we look forward to consistent growth over the coming years."
Scivantage's increase in revenues of 2,948 percent from 2002 to 2006 resulted in a number-six ranking in the Technology Fast 50 for New Jersey. The average increase in revenues among companies who made the Technology Fast 50 for this region was 1,240% percent.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, 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.
Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies.