Press Releases and AnnouncementsInc. 500 Reveals America’s Fastest Growing Private Companies -- California-based Valley Oak Systems Ranks #434November 9, 2004 |
| New York, Nov 9, 2004 – Inc. Magazine, the premier
publication for small and medium-sized businesses, has released its 23rd annual Inc. 500
ranking of the fastest-growing private companies in the country. California-based Valley
Oak Systems, Inc., a national provider of claims administration and risk management
software, services and support for the insurance industry, ranks #434, with five-year
total growth of 430%, on the 2004 Inc. 500. The Inc. 500 ranks privately held companies according to averaged year-over-year sales growth over the past four years, and the list is one of the most prestigious indicators of private company growth in North America. For the past 22 years, the Inc. 500 has identified the next generation of world-renown technology companies, with Microsoft, Oracle and Intuit all appearing on the list before they became industry powerhouses. This is Valley Oak Systems’ third year to be included on the list. Randy Wheeler, founder and CEO of Valley Oak Systems, said: “For the last several years, which have been tough for the tech sector and for the whole American economy, Valley Oak Systems has been honored with local, regional and national recognition as one of America’s leading and fastest-growing private software companies. Our core philosophy is very simple. Valley Oak Systems stays in tune with technology and industry trends, listens to our clients’ needs, and strategically develops and enhances cost-effective software and services that enable our clients to meet their business goals.” Valley Oak Systems dedicates more than half of its staff to client services for its workers' compensation, general liability, auto, property, employment, professional liability, and disability insurance software customers throughout North America. Additionally, the company’s cost-effective browser-based software, iVOS®, provides a full range of features that meet every one of its customers’ needs and requirements. “The best thing you can say about this year’s crop of Inc. 500 entrepreneurs is that they didn’t buy into the hype,” said Inc. editor-in-chief John Koten. “When people were practically giving away funding in the late 1990s, these companies didn’t overextend, and when everyone hit the panic button a few years later, they stayed calm and seized opportunity.” To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 1999 for Inc. 500 alumni and 2000 for new applicants, and $2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002 sales. Companies are ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials. About Valley Oak Systems, Inc. Valley Oak Systems, Inc. is a privately held corporation with headquarters in San Ramon, California. Founded in 1994, Valley Oak Systems has relied on the industry experience of its founders to provide high-quality, cost-effective solutions for the claims administration industry. Its flagship product iVOS® is the leading browser-based, “one-system” solution that integrates claims management, document imaging and bill review capabilities for multiple lines of insurance. Valley Oak Systems is dedicated to providing the highest quality software, services, and support to enable their clients to meet their goals. Since 2002, Valley Oak Systems has been recognized as one of America’s fastest growing private companies for three consecutive years on the Inc. 500 list, and for two years on the Deloitte Technology Fast 500 list. Additionally, Valley Oak Systems’ founder and CEO, Randy Wheeler, was an award recipient of the Ernst & Young Entrepreneur of the Year® 2004 Award Northern California. For more information about the award-winning company, go to www.valleyoak.com, or call (925) 242-4600. About Inc. Inc., the only business magazine dedicated exclusively to owners and managers of fast-growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc. is the premier publication that focuses on small to medium-size businesses, which are responsible for more than half the nation's gross domestic product and 75% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner + Jahr USA publication, inspires and informs, with cutting-edge coverage that reflects our readers' energy, brashness, and imagination.
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