PROFITsystems, Inc. was named to Inc. magazine’s Inc. 5000, a first-ever published listing of the 5,000 fastest growing business in the U.S. The complete list is available online at Inc.com, concurrent with the September release of the Inc. 500 listing in the magazine’s print edition.
The 2007 Inc. 5000 list is based on revenue growth from 2003 through 2006. Companies must be U.S.-based, independently owned and privately held. Revenues of at least $200,000 in 2003 and at least $2 million in 2006 represent the minimum criteria for consideration and ranking.
PROFITsystems has grown at a rate of nearly 50 percent over the last three years, qualifying for a spot on Inc.'s prestigious ranking.
Larry Stark, PROFITsystems co-founder and chairman, attributes his company’s growth trajectory to industry-specific experience. “We have been retailers, we have hired former retail clients to work with us, we know the business like the backs of our hands,” he said. “We have the most experienced systems people and the most experienced furniture people working together.
Also in the last three years, PROFITsystems has diversified its software product line and introduced new retail consulting services. The company boasts the industry’s largest freight buying organization conducts specialized sales staff training and offers continuing business education courses for retailers. PROFITprofessional, the company’s cornerstone product version 11.2, utilizes a Microsoft.net platform. Plans for successive version upgrades are in place, with announcements to be made later this year.
Jeff Niskern, president, attributes PROFITsystems recent success to a results-based approach. “We are tenacious about going after new programs that benefit our furniture retail clients,” he added. “We do everything we can to grow our clients business, because their health and longevity equates to ours.”
PROFITsystems evolved from a Colorado-based furniture retail business started by Frank Stark in 1897 and today is a leading provider of home goods management software, consulting and retail business solutions. Software features include fully integrated inventory management and accounting systems.
With a focus on automation of order transactions and other tasks, PROFITsystems retail clients benefit with error-free data processing, reduced overhead expenses and increased store productivity.
Median annual revenues for companies on the 2007 Inc. 5000 list is $9.4 million with a median three-year growth rate of 140 percent. The majority of companies listed are located in the Midwest and West and specialize primarily in the construction, manufacturing and IT services industries.
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