For Immediate Release:
OpenAir Ranked Number 161 Fastest-Growing Technology Company in
North America on the 2005 Deloitte Technology Fast 500
Attributes its 1,185 Percent Revenue Growth to a Web-hosted
for Professional Services Automation
Boston, Mass.Oct. 19, 2005 OpenAir, the leading on-demand
professional services automation application with approximately
18,000 subscribers, today announced that it ranked Number 161 on the
2005 Deloitte Technology Fast 500, a ranking of the 500 fastest
growing technology companies in North America. Rankings are based on
percentage revenue growth over five years, from 2000-2004. OpenAir
grew 1,185 percent during this period.
OpenAir CEO Morris Panner credits his company's on-demand web-hosted
business model and responsive customer service with the company's
1,185 percent revenue growth from 2000-2004. OpenAir also realized
an average annual growth rate of 97 percent.
OpenAir provides comprehensive automation solutions for services
teams and consulting firms around the world. More than 200
companies and 18,000 subscribers use OpenAir to gain controls and
insight on their financial best practices and to track the work of
employees, teams and consultants. Users such as consulting firms and
other service providers use OpenAir to improve employee utilization,
capture more billable hours and streamline project managementwthout reliance
on unstructured tools such as email or faxes.
"Making the Deloitte Technology Fast 500 is commendable in today's
highly competitive technology industry," said Tony Kern, deputy
national managing principal of Deloitte's Technology, Media &
Telecommunications industry practice. "We congratulate OpenAir on
being one of the 500 fastest growing technology companies in North
In addition to ranking on Deloitte's Technology Fast 500, OpenAir
ranked 15th on the New England Technology Fast 50, which is a
ranking of the 50 fastest growing technology firms in New England.
Overall, companies that ranked on the 2005 Technology Fast 500 had
growth rates ranging from 240 to 73,752 percent over five years,
with an average growth rate of 2,408 percent.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte's 15 regional North
American Fast 50 lists, nominations submitted directly to the Fast
500, and public company database research. To qualify for the Fast
500, entrants must have had 2000 operating revenues of at least
$50,000 and 2004 operating revenues of at least $1 million.
Entrants must be headquartered in North America and must be a
"technology company", defined as a company that owns proprietary
technology that contributes to a significant portion of the
company's operating revenues; or devotes a significant proportion of
revenues to the research and development of technology. Using other
companies' technology in a unique way does not qualify for the
Deloitte Fast 500.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss
Verein, its member firms and their respective subsidiaries and
affiliates. As a Swiss Verein (association), neither Deloitte Touche
Tohmatsu nor any of its member firms has any liability for each
other's acts or omissions. Each of the member firms is a separate
and independent legal entity operating under the names
"Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other
related names. Services are provided by the member firms or their
subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu
Verein. Deloitte & Touche USA LLP is the US member firm of Deloitte
Touche Tohmatsu. In the US, services are provided by the
subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP,
Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP,
Deloitte Tax LLP and their subsidiaries), and not by Deloitte &
Touche USA LLP.
OpenAir is the Web-native professional services automation solution that helps
independent software vendors, marketing services companies, consulting firms,
and internal corporate service organizations increase top-line growth, improve
operations and enhance financial controls. OpenAir customers increase profits
by capturing additional billable hours, increasing employee utilization,
streamlining project management, accelerating revenue, enhancing
collaboration, improving revenue recognition and project accounting, and
sharing knowledge and best practices throughout the organization. OpenAir has
helped leading services organizations across six continents increase profits
through the subscription-based OpenAir® Complete solution. For additional
information, visit www.openair.com.
All company trademarks are the property of their respective owners.
Victor Cruz : MediaPR.net : 508-785-1590 : PR@openair.com