eAutoclaims Ranked Number 104 Fastest Growing Technology Company in North America on the 2003 Deloitte Technology Fast 500
eAutoclaims Attributes Its Revenue Growth to the Company's Online Claims Management System eJusterSuite(R) and Their Culture of Customer Centric Service.
OLDSMAR, Fla., Oct. 15 -- eAutoclaims (BULLETIN BOARD: EACC) today announced that it ranked Number 104 on the 2003 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on average percentage revenue growth over five years, from 1998-2002. eAutoclaims grew 3,581 percent during this period.
eAutoclaims' President/CEO, Eric Seidel, credits their leadership position in automobile claims technology and their commitment to outstanding customer service with the company's revenue growth over the past five years. He said, "The Company has seen revenues grow from just $877,000 to over $32 million in our very short period of existence. This would not happen without the development of our outstanding technologies and our associates' focus on providing outstanding customer service."
"Attracting enough customers to maintain triple-digit growth over five years makes a strong statement about the quality of a company's product and its leadership," said Mark Evans, National Managing Partner of Deloitte's Technology, Media & Telecommunications Group. "eAutoclaims has shown the right stuff for growth."
"Growing the top line enough to make the Deloitte Technology Fast 500 is especially meaningful during tough economic times for the technology sector," continued Mr. Evans. "We congratulate eAutoclaims on becoming one of the 500 fastest growing technology companies in North America." Overall, companies that ranked on the 2003 Technology Fast 500 had growth rates ranging from 469 to 296,080 percent over five years, with an average growth rate of 5,493 percent.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte's 20 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 1998 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively; and 2002 operating revenues must be at least $1 million USD or CD. Deloitte researchers examined financial statements to validate operating revenues.
Entrants must also be public or private companies 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.
About eAutoclaims
eAutoclaims (BULLETIN BOARD: EACC) is a business services company that provides the insurance industry with claims management services through both ASP and integrated outsourcing solutions. The Company's clients are insurance companies, fleet management companies and insurance services companies. eAutoclaims' solutions streamline the claims handling process, decreasing the overall time and cost required to process a collision claim and reducing average paid losses for its clients. The Company handles repair estimates, repair audits, and claims systems administration services, for automobile claims that are processed and tracked via the eAutoclaims Web-based platform and network of service providers.
About Deloitte
Deloitte, one of the nation's leading professional services firms, provides audit, tax, financial advisory services and consulting through nearly 30,000 people in more than 80 U.S. cites. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte has been recognized as one of the "100 Best Companies to Work For in America" by Fortune magazine for six consecutive years. "Deloitte" refers to Deloitte & Touche LLP and affiliated entities. Deloitte is the U.S. member firm of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, 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 name "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names. The services described herein are provided by the US member firm and not by the Deloitte Touche Tohmatsu Verein. For more information, please visit Deloitte's web site at www.deloitte.com/us.
This announcement contains "forward-looking statements." Words such as "anticipate," "believe," "estimate," "expect" and other similar expressions as they relate to the Company and its management are intended to identify such forward-looking statements. Although the Company and its management believe that the statements contained in this announcement are reasonable, it can give no assurances that such statements will prove correct. Factors that could affect the occurrence of events or results discussed herein are included with those mentioned in the Company's filings with the Securities and Exchange Commission.