SolArc Receives Oklahoma Venture of The Year Award.Business/Energy Editors TULSA, Okla.--(BUSINESS WIRE)--Oct. 29, 2002 SolArc Inc., a leading provider of enterprise trade management solutions for global energy companies, has received the Oklahoma Venture of the Year Award from the Grace & Franklin Bernsen Foundation. The award was presented Oct. 16, at a dinner ceremony held at the Southern Hills Country Club Southern Hills Country Club is a prestigious private golf and country club in Tulsa, Oklahoma in the United States. It was established in 1936 from land donated by multimillionaire oilman Waite Phillips. The construction costs were raised by the founding members. . This award is given annually by the Oklahoma Investment Forum and the Oklahoma Venture Forum and is sponsored by the Grace & Franklin Bernsen Foundation. A 10-person selection committee chose SolArc from a group of nine finalists for this honor. To qualify for this honor, companies must have been formed after Jan. 1, 1991, and have revenues of at least $1 million dollars during the fiscal year. Selection criteria for this award is also based on product or service innovation, revenue growth, profitability, management quality, market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and growth, economic impact and industry and community reputation. Companies must also be independently owned and operated and headquartered in Oklahoma. "This award is a tremendous honor for SolArc and is a reflection of all the hard work and dedication that our employees have put forth," said Brad Anderson, co-founder 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 SolArc. "We are looking forward to our continued success and maintaining our leadership as a provider of energy supply and trade management solutions." "This award represents the highest level of recognition for entrepreneurial companies in the state of Oklahoma. SolArc stood out among the finalists for this award due to their revenue performance over the years, their innovative product and their high growth potential," said Barry Davis Barry Davis (born September 15, 1943) is a former Australian rules footballer. Essendon career Recruited from Essendon High School and making his debut with Essendon Football Club in the VFL in 1961, Davis played off the half-back line and was quite a prolific player. , chairman of the Oklahoma Investment Forum. David Humphrey David Humphrey is an American actor/comedian that played Frankie in the play of Forever Plaid He is most well known for being the voice of Shadow the Hedgehog in the Sonic games. Many fans say that the tone of his voice fit Shadow's appearance and personality. , principal of Davis Tuttle Venture Partners, who nominated SolArc for the award said, "SolArc embodies the qualities of a world-class company, while retaining its entrepreneurial values of respecting its employees and investing in the local community. Companies like SolArc form the economic bedrock of this country and should be recognized for their positive impact on the communities and customers they serve." About SolArc Inc. SolArc Inc. is a leading provider of enterprise trade management solutions for global energy companies. The flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , SolArc RightAngle, integrates deal capture, scheduling, inventory management, pricing, accounting, position reporting and analysis in a single platform solution. SolArc's products work with existing information systems -- including corporate ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. , credit management and risk management systems -- to provide customers with a flexible solution that leverages their existing systems' infrastructure. SolArc's products improve cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses by providing accurate and timely settlement of deal transactions. Customers receive competitive advantages from reduced transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and improved trading decisions based on accurate position reporting and inventory management. Headquartered in Tulsa, Okla., visit SolArc at http://www.solarc.com. About the Grace and Franklin Bernsen Foundation The Grace and Franklin Bernsen Foundation was created in 1968 to provide charitable support in and around Tulsa. Franklin Bernsen enjoyed a lifelong record as a highly successful entrepreneur with business interests throughout the state. He was one of Oklahoma's early angel investors An individual who invests his or her own money in a private company, which is typically a startup. An angel investor is not an employee or member of a bank, venture capital firm or other financial institution that normally makes such investments. , participating in numerous start-ups and early stage businesses. About the Oklahoma Investment Forum The Oklahoma Investment Forum was created in 1989 with the mission to be the catalyst and conduit for robust entrepreneurial activity throughout the state of Oklahoma. About the Oklahoma Venture Forum The Oklahoma Venture Forum (OVF OVF Office Vétérinaire Fédéral OVF Overseas Vote Foundation (Arlington, VA) OVF Overflow OVF Open Virtual Machine Format OVF Omnibusverkehr Franken GmbH OVF Optical View Finder (camera) ) is a non-profit corporation organized to encourage economic development in Oklahoma. The OVF works to increase the utilization of Oklahoma's resources, resulting in the establishment and growth of new and existing business ventures. SolArc is a registered trademark of SolArc Inc. Other names may be trademarks of their respective owners. |
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