Synygy Named to the Inc. 500 Hall of Fame; Synygy Becomes One of Just a Few Companies in the History of the Inc. 500 to be Listed Five Consecutive Times.
CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Oct. 10, 2001
Synygy Inc., the largest provider of Enterprise Incentive Management (EIM) software and services, has been named for the fifth consecutive year as one of the fastest-growing privately held companies in the country by Inc. magazine, which today released its annual ranking of the Inc. 500, the comprehensive guide to America's fastest-growing private companies.
Inc. magazine also named Synygy to the Inc. 500 Hall of Fame, a distinction honoring those companies that have made the Inc. 500 list five or more times since the list was first published in 1982. Only 61 companies have been named to the Hall of Fame.
"We are especially pleased that Inc. magazine has recognized our hard work and our ten-year history of sustained growth by naming us to the Inc. 500 Hall of Fame," said Mark A. Stiffler, president and CEO of Synygy. "I would like to thank our clients, our alliance partners, and our employees, whose enthusiastic and unflagging support has made our growth possible."
A total of six companies were inducted into the Inc. 500 Hall of Fame this year. These include Synygy; MedSpan, a managed-care provider in Hartford, CT; Monitronics International, a security system firm in Dallas, TX; Linksys, a networking hardware manufacturer in Irvine, CA; Security Leasing Partners, a security services firm in St. Louis, MO; and HTC Global Services, a software consulting firm in Southfield, MI.
Past inductees into the Hall of Fame include Bertucci's (restaurants), ERM Group (environmental management and consulting), Hill International, Inc. (personnel search), Hyperion Solutions (business analysis software), Morningstar (mutual fund rating), SAS Institute (analytical software), and Walker Richer & Quinn, Inc. (IT consulting).
Founded in 1991, Synygy created the fast-growing market for Enterprise Incentive Management (EIM) software and services and has seen its revenue grow at a rate of 80 percent per year for the past ten years. Synygy's revenue now exceeds $30 million annualized, making it the largest EIM software company.
EIM solutions help organizations use incentive compensation and other pay-for-performance plans to drive and measure organizational effectiveness at all levels of the enterprise. Noted industry analyst firm AMR Research recently predicted that the market for EIM solutions would grow to be $2 billion by 2005.
About the Inc. 500
The Inc. 500, published on October 16th, is an exclusive report on the companies and CEOs that are changing the face of American business. Noteworthy alumni of the Inc. 500 include such household corporate names as Microsoft, Timberland, Dominos Pizza, and Patagonia.
This marks the 20th year that Inc. magazine has charted the progress of America's most innovative and successful entrepreneurs. To be eligible for the Inc. 500, companies have to be independent and privately held through 2000, have at least $200,000 in sales in the base year, 1996, and their 2000 sales must have exceeded their 1998 sales.
Inc. verified all information using tax forms and financial statements from certified public accountants. The ranking is based on the percentage increase in sales from 1996 through 2000. Synygy grew 623% during that period.
Synygy Inc., The Incentive Compensation Company(TM), is the largest provider of Enterprise Incentive Management (EIM) software and services. Synygy created the EIM industry in 1991, and Synygy Compensation software, now in version 9, has been used to implement and manage the variable pay plans for more of the world's largest corporations than any other solution.
Inc. magazine recently recognized Synygy's success and sustained growth by naming Synygy to the Inc. 500 Hall of Fame, reflecting Synygy's fifth consecutive inclusion on the Inc. 500. Based in suburban Philadelphia, Synygy was also awarded the prestigious 2001 Workforce Optimas award for Vision in its human resources practices. For more information on Synygy, visit www.synygy.com.
Synygy and "The Incentive Compensation Company" are registered trademarks and Synygy Compensation is a trademark of Synygy, Inc. All other trademarks are trademarks or registered trademarks of their respective owners.
|Printer friendly Cite/link Email Feedback|
|Date:||Oct 10, 2001|
|Previous Article:||ISO New England Says Balanced Governing Board Necessary for Success of Combined Northeastern Power Market.|
|Next Article:||Transtech Industries, Inc. Enters Into Agreement to Settle Insurance Claims.|