Growth earns a Fast 50 place

TWO of Western Australia’s leading web site development companies, HarvestRoad and Pretzel Logic, have been acknowledged for the second consecutive year in the 2002 Deloitte Technology Fast 50 program.

The program, which recognises and profiles the fastest growing technology companies in Australia, was launched in 2001 and includes all industry sectors related to technology – biotechnology, telecommunications, computers and peripherals, software and the Internet.

Companies listed in the 2002 Deloitte Technology Fast 50 are listed and ranked based on the percentage of revenue growth experienced over the three years from 1999 to 2001.

HarvestRoad was listed as the 39th fastest growing technology company on this year’s list with three-year revenue growth of 133 per cent. This is a reduction in growth compared to the 2001 Deloitte Technology Fast 50 list, which ranked HarvestRoad at 34th with revenue growth of 166 per cent.

Pretzel Logic was ranked 40th on the list this year with three-year revenue growth of 129 per cent, also a reduction in growth compared with the 2001 Fast 50 list, which listed Pretzel Logic at 25th with three-year revenue growth of 201 per cent.

Pretzel Logic managing director Steve Pretzel believes that the Deloitte Technology Fast 50 list has helped raise the profile of his company in an industry were customers are looking to do business with companies that are secure, stable and have a proven track record.

“Companies are looking for stronger partners; they are looking for companies they believe are going to be around for the long term, and for companies that are the most successful,” he said.

“There is an interest there that they must be doing something right.”

Mr Pretzel said the Deloitte Technology Fast 50 list’s three-year revenue growth measurement demonstrated to potential customers whether a business was a survivor of the crash, whether it had a solid foundation, the potential for further growth, and could demonstrate longevity.

Both HarvestRoad and Pretzel Logic are among a group of 16 companies that have made the list two years in a row, and are among seven finalists from WA.

The Deloitte Technology Fast 50 is part of a global program run in parallel with the United States, Canada, United Kingdom, Ireland, central Europe, Israel, New Zealand and the Netherlands. All Deloitte Technology Fast 50 winners were invited to the global Deloitte Technology Fast 500 CEO Summit, which was held in Florida last month, providing an opportunity to network with other top-tier executives from fastest-growing technology companies around the world.

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