GENOA, NY, Sept. 13, 2011 (GLOBE NEWSWIRE) -- Inc. magazine ranked Envisage Information Systems NO. 808 on its fifth annual Inc. 500|5000 list; an exclusive ranking of the nation's fastest-growing private companies. Envisage also ranked an impressive NO. 76 within the IT Services industry. The list represents the most comprehensive look at the most important segment of the economy--America’s independent entrepreneurs. Envisage joins Spirit Airlines, television maker Vizio, Honest Tea, Dunkin Donuts and Metrokane, makers of the Rabbit corkscrew, among other prominent brands featured on this year’s list. (Envisage logo here: http://www.globenewswire.com/newsroom/prs/?pkgid=10523)
"We work with retirement plan services providers by leveraging technology to automate service delivery and back office workflow. This award from Inc. is a credit to the value which is created by the unique way the Envisage and Client team members join forces to produce the right results for our clients, and in turn their clients." "It is refreshing to see the retirement industry recognizing value from the 16 years of continuous product development this team has focused on within our niche of a very dynamic and competitive industry" said Steff McGonagle, Principal.
Envisage Information Systems, which McGonagle founded in 1990 with COO Robb Jetty, has averaged an annual revenue growth rate of 387 percent over the past three years. The company uses a unique delivery model which captures the best of the highly customized "Custom" solutions needed by sophisticated record keepers with the lifetime cost and time to market savings generated from a traditional mature "product" delivery model. The licensable building blocks include rich web portals for retirement plan service providers that seamlessly integrate to back-office systems like SunGard’s OMNI PLUS and Schwab’s SRT record keeping systems, as well as Common Remitter solutions, Document Management and workflow automation systems, along with web based data scrubbing and transformation toolsets.
In a stagnant economic environment, median growth rate of 2011 Inc. 500|5000 companies remains an impressive 94 percent. The companies on this year’s list report having created 350,000 jobs in the past three years, and aggregate revenue among the honorees reached $366 billion, up 14 percent from last year.
"Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is," says Inc. magazine Editor Jane Berentson.
Methodology
The 2011 Inc. 500/5000 is ranked according to percentage revenue growth when comparing 2007 to 2010. To qualify, companies must have been founded and generating revenue by March 31, 2007. Additionally, they had to be U.S.-based, privately held, for profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2010. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2007 is $100,000; the minimum for 2010 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/500.
About Envisage Information Systems
Envisage Information Systems is the largest independent software development company exclusively providing web interface, data connection, common remitter and workflow automation products to America’s retirement industry. Since 1995, Envisage has been at the forefront of web technology, developing automation solutions for data-driven applications in the retirement plan services space.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 710,106, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.
CONTACT:
Dave Young
813-264-6046