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News Release – Innovate E-Commerce Ranked #111 On This Year's "Inc 500" List Of America's Fastest Growing Private Companies; Highest Ranked High-Tech Company In Western Pennsylvania PITTSBURGH,
PA –
Innovate E-Commerce,
Inc., headquartered in Pittsburgh, has been named one of America’s fastest
growing privately-held companies by Inc magazine, which
today released its 2002 “Inc 500” list.
The e-commerce consulting firm’s growth of 1647% between 1997
and 200l earned it the 111th
place on the list, which appears in the magazine’s special “Inc 500”
issue that hit newsstands October 15. Innovate E-Commerce is one of
eight Western Pennsylvania companies to make the list; one of 24 statewide;
and the highest-ranked high-technology company on the list in Western
Pennsylvania. “This
is the first ‘Inc 500’ ranking to reflect the full impact of the recession,”
said Inc magazine
editor John Koten. “Yet these entrepreneurs are managing to confound
the naysayers and move ahead despite the obstacles. They’re showing
that smart strategies can succeed even in the toughest of times.” Started
in 1982, the “Inc 500” annually ranks the nation’s leading entrepreneurial
firms according to sales growth over the previous five years. Former
“Inc 500” companies that have gone on to become household
names include Microsoft, Timberland, Domino’s Pizza and Patagonia. To
be eligible for this year’s “Inc 500,” companies had to be independent
and privately held through their fiscal year 2001, have at least $200,000
in sales in the base year of 1997, and their 2001 sales had to exceeded
2000 sales. Holding companies, regulated banks and utilities are not
eligible. Inc verifies all information using tax forms
and financial statements from certified public accountants and by conducting
interviews with company officials. “It’s an honor
to be recognized in the top quartile of the fastest growing 500 privately
held companies,” said Bill Claire, CEO of Innovate.
“More than five years ago when we started Innovate, we set out
to build a successful company, a company that would have the best people
as an integral part of the organization, have very satisfied customers
that keep coming back to us time and time again, be better than anyone
else in the market at its core competency and be recognized for its
accomplishments along the way.
One of our goals was to grow fast enough to be named one of the
top ‘Inc 500’ companies. This
award validates our strategy through the tremendous market acceptance
of Innovate by our customers, to whom we are most grateful.”
Fifth Major Award in 2002 During
2002, Innovate E-Commerce
Inc. has been recognized in four other major award competitions. Karen Puchalsky, president and COO, was named by Pennsylvania
Governor Mark Schweiker as one of the “Best 50 Women in Business” in
Pennsylvania; the company
was named a finalist in Ernst
& Young’s “Entrepreneur
of the Year” competition; it
was identified as one of the top 10 information technology companies
in the Pittsburgh Technology Council’s “Tech 50” awards; and Innovate
was recognized as one of the fastest growing regional companies on the
Pittsburgh Business Times’
“Pittsburgh 100” list. About Innovate
E-Commerce Inc. Founded in
1997, Innovate E- Commerce is a business-to-business
e-commerce
consulting firm whose forte is building the Extended Electronic
Enterprise.
The Extended
Electronic
Enterprise
enables
the moving, sharing, tracking and securing of critical structured business
information
in an electronic format between customers and the members of their extended
value
chain. Innovate’s
technology
solutions
include software products, consulting services and an ASP (Application
Service
Provider) that help customers to align and transform their business processes. The company’s
two founders, William Claire and Karen Puchalsky, are e-commerce pioneers
with decades of experience from companies leading the technology revolution
including Hewlett-Packard, Digital Equipment and Sterling Commerce. In addition
to its Pittsburgh headquarters, Innovate has offices in Columbus and
Raleigh. For more information,
contact Amber Westwood at 412-681-7090 or awestwood@innovateec.com. Innovate E-Commerce’s
web address is www.innovateec.com.
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