AdvanTech Solutions Celebrates Year End by Surpassing 10,000 Worksite Employee Milestone.Business Editors TAMPA, Fla.--(BUSINESS WIRE)--Dec. 18, 2000 AdvanTech Solutions(SM), an innovative professional employer organization A professional employer organization (PEO) provides outsourcing of payroll, workers' compensation, human resources and employee benefits administration. It does this by hiring a client company’s employees, thus becoming their employer of record. (PEO) specializing in technologically advanced human resource services, today announced that the organization has surpassed 10,000 worksite employees. Chuck Davis  This article or section contains information about one or more candidates in an upcoming or ongoing election.Content may change as the election approaches. Charles E. , Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AdvanTech Solutions(SM), credits AdvanTech's phenomenal growth to an outstanding staff, cutting-edge technology and equity partnerships with the finest independent insurance agencies in the industry. "Our growth over the last year has validated the strength and predictability of the independent agent distribution model," Davis said. "In a very short period of time, our affiliation with a large network of independent agents has allowed us to leverage their trusted adviser status to achieve rates of internal growth unparalleled in our industry. In fact, if you were to annualize Annualize 1. To convert a rate of any length into a rate that reflects the rate on an annual (yearly) basis. This is most often done on rates of less than one year, and usually does not take into account the effects of compounding. our current run rate, we would rank in the top 20 of all PEOs in the country." As a PEO, AdvanTech uses the co-employment model to provide a technology-rich employment system, focused on human capital management. In addition, AdvanTech provides one-stop outsourcing of other business processes including human resource management, employee benefits, workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. and payroll administration. Mercedes Sanchez, Vice President of Equity Research for Raymond James  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Financial, believes that AdvanTech's fresh approach to the industry has allowed them to catapult catapult (kăt`əpŭlt'), mechanism used to throw missiles in ancient and medieval warfare. At first, catapults were specifically designed to shoot spears or other missiles at a low trajectory (see bow and arrow). to the forefront of the human resource outsourcing market. "We attribute the company's success to its ability to rapidly adapt to the ever-changing HR outsourcing landscape, its unique agency-driven lead generation model, and its powerful and flexible technology infrastructure," Sanchez said. "In our opinion, AdvanTech's approach to the business, coupled with its innovativeness, allows it to differentiate itself from its traditional competitors and provides it with a significant competitive advantage." AdvanTech Solutions(SM) currently has 36 agency partners operating in markets in Florida, Georgia, Texas, Alabama and North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. . AdvanTech plans to add two additional expansion states during the first half of 2001. The company's headquarters are located at 1410 N. Westshore Blvd., Suite 600, Tampa, Fla. 33607. For more information, please visit the company's web site at www.advantechsolutions.com. Note: The statements contained in this press release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Therefore, the actual results of future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are (i) regulatory and tax developments; (ii) changes in our operating cost structure; (iii) the estimated costs and effectiveness of capital projects and investments in technology and infrastructure; (iv) our ability to effectively implement our agency expansion strategy; and (v) changes in the competitive environment in the PEO industry. |
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