Valley Oak Systems achieved 599% growth in the past five years. Valley Oak Systems was established in 1994 to provide the insurance industry with an organization dedicated to providing a superior fully featured Claims Administration and Risk Management System. In early September, the company released its newest product iVOS™ – truly web-based claims administration software that is browser-based allowing users ease of access through the Internet. The system is Java™-based (J2EE™ compliant) requiring no middle-ware (e.g. Citrix®), no software distribution to individual computers, and is available as a client hosted or ASP solution. For additional information on the company and products visit www.valleyoak.com.

“Being named to the Inc 500 is affirmation of our focus on profitable growth through innovative products and excellent implementation and support services that solve real business needs,” states Randy Wheeler, Founder and CEO of Valley Oak Systems. “We expect our newest product, iVOS, as well as our expanded ASP services to help fuel continued growth in our marketplace.”

Started in 1982, the Inc 500 ranks the nation’s leading entrepreneurial firms according to sales growth over the previous five years. The 2002 Inc 500 reveals a surprising resiliency within the entrepreneurial sector, where leading companies are continuing to show dramatic rates of growth despite the recession. More than two-thirds (73%) of 2002 Inc 500 companies are profitable. Despite the technology bust, “Computer Software & Services” remain the leading industry category, representing nearly 40% of firms on the list.

 “This is the first Inc 500 ranking to reflect the full impact of the recession,” said Inc editor John Koten. “Yet these entrepreneurs are managing to confound the naysayers and move ahead despite the obstacles. They’re showing that smart strategies can succeed even in the toughest of times.”

 To be eligible for this year’s Inc 500, companies had to be independent and privately held through their fiscal year 2001, have at least $200,000 in sales in the base of 1997, and their 2001 sales had to have exceeded 2000 sales. Holding companies, regulated banks and utilities are not eligible. Inc verifies all information using tax forms and financial statements from certified public accountants and by conducting interview with company officials.