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Company News: Awards
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Inc 5000
Ranking #2719 |
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Valley Oak Systems Honored on Inc. 5,000 – Inc.’s First-ever List of 5,000 Fastest-Growing Businesses
The Inc. 5,000 is an extension of Inc. magazine’s annual Inc. 500 list, incorporating many businesses that are too big to grow at the pace required to make the Inc. 500, as well as a host of smaller firms. The Inc. 5000 ranks privately held companies according to averaged year-over-year sales growth over the past four years. It is the most comprehensive look at the most important segment of the economy – America’s independent-minded entrepreneurs. With this expansion, the Inc. 5,000 is able to capture a wealth of entrepreneurial companies that are often overlooked by business media, but taken as a whole, represent the backbone of the U.S. economy.
The key factor in Valley Oak’s success in achieving growth and “making the list” three years in a row is its well orchestrated development, marketing, and sales campaigns that effectively reflect the company’s vision to provide in-depth expertise, total customer satisfaction, and leading-edge technology. With this approach, Valley Oak Systems has become highly regarded within the insurance industry. Its flagship product iVOS®, the "one-system" claims management solution that incorporates core insurance processes, has experienced tremendous demand and driven company growth by as much as 493 percent over a five year period. |
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Ernst & Young Entreprenuer of the Year® 2004 Northern California
Watch Randy's acceptance speech (requires Quicktime Player)
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Randy Wheeler was awarded the Ernst & Young
Entrepreneur Of The Year Year® 2004 Northern California. This award was in the category Realizing Business
Potential. Wheeler was selected from 24 finalists in Northern California by an
independent panel of judges comprised of local community and business leaders and
announced at an award banquet on June 18, 2004 at the Fairmont San Francisco, atop
Nob Hill.
"Receiving this Ernst and Young award is not only an honor for
me, but it represents the collective teamwork of all the employees at Valley Oak
Systems," said Randy Wheeler. "This year we celebrated our 10th anniversary,
representing a culmination of everyone's determination to drive insurance processes
into the twenty-first century with leading-edge technology solutions. As the company
moves forward, we will continue to realize our business potential by actively
listening to customers and innovating with an ear toward industry trends. Only by
doing this can we continue to grow and create solutions to meet our client's
business objectives."
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Inc. 500
Ranking:
2004 - #434
2003 - #231
2002 - #398
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The Inc. 500 ranks privately held companies according to averaged year-over-year
sales growth over the past four years, and the list is one of the most prestigious
indicators of private company growth in North America. For the past 22 years, the
Inc. 500 has identified the next generation of world-renown technology companies,
with Microsoft, Oracle and Intuit all appearing on the list before they became
industry powerhouses. This is Valley Oak Systems' third year to be included on the
list.
Randy Wheeler, founder and CEO of Valley Oak Systems, said: "For the last several
years, which have been tough for the tech sector and for the whole American economy,
Valley Oak Systems has been honored with local, regional and national recognition as
one of America's leading and fastest-growing private software companies. Our core
philosophy is very simple. Valley Oak Systems stays in tune with technology and
industry trends, listens to our clients' needs, and strategically develops and
enhances cost-effective software and services that enable our clients to meet their
business goals."
"The best thing you can say about this year's crop of Inc. 500 entrepreneurs is that
they didn't buy into the hype," said Inc. editor-in-chief John Koten. "When people
were practically giving away funding in the late 1990s, these companies didn't
overextend, and when everyone hit the panic button a few years later, they stayed
calm and seized opportunity."
To be eligible for this year's Inc. 500, companies had to be independent and
privately held through their fiscal year 2003, have had at least $200,000 in net
sales in the base year of 1999 for Inc. 500 alumni and 2000 for new applicants, and
$2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002
sales. Companies are ranked on averaged year-over-year sales growth. Inc. verifies
all information using tax forms and audited financial statements from certified
public accountants and by conducting interviews with company officials.
About Inc.
Inc., the only business magazine dedicated exclusively to owners and managers of
fast-growing private companies, delivers real solutions for today's innovative
company builders. It provides hands-on tools and market-tested strategies for
managing people, finances, sales, marketing and technology. Inc. is the premier
publication that focuses on small to medium-size businesses, which are responsible
for more than half the nation's gross domestic product and 75% of its new jobs. And
Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner +
Jahr USA publication, inspires and informs, with cutting-edge coverage that reflects
our readers' energy, brashness, and imagination.
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Deloitte Technology Fast 500
Ranking:
2005 - #294
2004 - #401
2003 - #314
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Silicon Valley Technology Fast 50
Ranking:
2006 - #32
2005 - #32
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Customer-centric Philosophy and Business-focused Solutions Result in 493 Percent
Company Growth
Randy Wheeler, founder and CEO of Valley Oak Systems, credits this phenomenal growth
to the company's customer-centric philosophy and business-focused technology
solutions. He said, "Customer-centricity means our customers are the center of our
business strategy, and we are committed to developing the software, services and
support that meet their needs and objectives. By fostering true client
relationships, our software can positively impact their performance and bottom line
results. As their needs change, we continually update our solutions."
"Attracting enough customers to attain such fast growth over five years makes a
strong statement about the quality of a company's product and its leadership," said
Tony Kern, deputy national managing principal of Deloitte's Technology, Media &
Telecommunications industry practice. "Valley Oak Systems has shown the right stuff
for growth."
In addition to ranking on Deloitte's Technology Fast 500, Valley Oak Systems ranked
number 32 on the Silicon Valley Technology Fast 50, which is a ranking of the 50
fastest growing technology firms in Silicon Valley.
About the Deloitte Technology Fast 500
The Fast 500 list is compiled from Deloitte's 19 regional North American Fast 50
program, nominations submitted directly to the Fast 500, and public company database
research. To qualify for the Technology Fast 500, companies must have had operating
revenues of at least $50,000 USD in 1999 and $1 million USD in 2003. 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 Deloitte
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 U.S. member firm of Deloitte Touche Tohmatsu. In
the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP
(Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and their
subsidiaries), and not by Deloitte & Touche USA LLP.
Note: For a complete list of the Deloitte Technology Fast 500 winners for 2005 (and
past years), visit www.fast500.com.
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IASA
2006 - Award Recipient
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From left to right, Alan Close, IASA VP-Education; Bruce Wollschlager,EVP & COO
of CIRMA; Randy Wheeler, CEO of Valley Oak Systems; Mark Robison, IASA
President; Joe Pomilia, IASA Executive Director
The Insurance Accounting & Systems Association (IASA) awarded the 2006 IASA
Technology Achievement Award to Connecticut Interlocal Risk Management Agency
(CIRMA) in conjunction with their technology partner, Valley Oak Systems, Inc. The
joint project to implement the iVOS® "one-system" claims management solution was
judged by an industry panel as innovative and delivering measurable business impact
in the insurance industry.
The panel of distinguished industry expert judges included Deborah Smallwood of
Tower Group, Kimberly Harris of Gartner Group, Richard Penberthy and Christopher
Jones of IDMA, Marc Cecere of Forrester, Patricia Speer of Insurance Networking
News, Chad Hersh of Celent, Anthony O'Donnell of Insurance & Technology, and Ara
Trembly of National Underwriter.
CIRMA is one of the largest, most sophisticated public-entity risk management pools
in the nation, covering 85 percent of municipalities in Connecticut and having grown
600 percent since 2000. Having experienced tremendous growth, CIRMA needed to
modernize its claims-processing infrastructure to handle increased capacity and to
re-engineer their workflow. In 2005, the iVOS claims management was successfully
implemented into their claims department. The iVOS one-system design and
browser-based platform has helped CIRMA to improve operational efficiency, implement
best practices, reduce administrative costs, optimize human resources, and provide
new web-based capabilities to its members.
Valley Oak Systems developed the iVOS "one-system" claims management solution in
order to provide an innovative, browser-based platform with which organizations
could effectively manage today's complex claims transactions. iVOS consolidates
claims management for multiple lines of insurance and related insurance functions,
such as risk management, bill review, policy administration, and event reporting.
The system offers a wide array of functionality, including various diary, scheduling
and automation tools. In addition to heightened productivity, iVOS confers business
agility from its built-in workflow management, sophisticated rules engine that
business users can configure.
About IASA
The Insurance Accounting & Systems Association, Inc. (IASA) is a non-profit,
education association that strives to enhance the knowledge of insurance industry
professionals, and participants from similar organizations closely allied with the
insurance industry by facilitating the exchange of ideas and information. IASA is
the insurance industry's largest, and most well represented trade association. IASA
membership includes insurance companies of all types (Property & Casualty, Life,
Health, Fraternal, HMO and others) as members, as well as companies serving the
insurance industry, regulators and also organizations more broadly representative of
the financial services industry, including banks and investment brokerage firms.
Learn more about IASA by visiting www.iasa.org.
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eFusion
Ranking:
2005 - Finalist - Claims Management Category
2004 - Finalist - Claims Management Category
2003 - Top Ten
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iVOS®, Valley Oak Systems' browser-based claims management software solution was
awarded as a Finalist in the category of Claims Management at the at the E-Fusion
2005 conference in Philadelphia, sponsored by AM Best.
The Awards recognize innovative, business-focused uses of technology in actual use
by insurers. This year's presentations were expanded to six tracks, giving attendees
an inside view of nearly three dozen real-world projects. The emphasis was on the
business reasoning that gave birth to each project and results that were generated.
About iVOS
iVOS is a
browser-based, single-system solution, that integrates claims management, document
imaging and bill review software and services for multiple lines of insurance. The
system is highly configurable and can be customized to meet any organization's
needs, by incorporating claims best practices, optimizing the efficiency of claims
personnel, and enabling organizations to effectively reduce risks and potential
losses.
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Innovation All – Star
Governor's Commission for Jobs and Economic Growth Provides California Innovation Awards Honoring Top Businesses
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Managed by the California Space Authority (CSA), and administered through the California Labor & Workforce Development Agency (LWDA), the California Innovation Corridor is one of the state’s initiatives to foster innovation and includes more than 60 partner organizations throughout 13 counties. It was Corridor partners that reviewed nearly 300 nominees before reducing the list to the 75 Innovation All-Stars |
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San Francisco Business Times 100 Fastest-Growing Private Companies
Ranking:
2006 - #93 out of 100
2005 - #83 out of 100
2004 - #60 out of 100
2003 - #9 out of 100
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This year marks the 15th year that the prestigious List of the 100 Fastest-Growing
Private Companies in the Bay Area has been published. The companies that dominate
this year's List reflect a broad array of thriving sectors of the economy. To
qualify for consideration, companies must be headquartered in the San Francisco
Business Times' coverage area the counties of Alameda, Contra Costa, Marin, San
Francisco, San Mateo, and the city of Palo Alto. The companies must have been
independent, privately help corporations, proprietorships or partnerships (not a
subsidiary or division) through fiscal 2005. And the companies must have had at
least $200,000 in net revenue that year. The companies on the San Francisco Business
Times' Lists were ranked on percentage increase in revenue between fiscal year 2003
and 2005.
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East Bay Business Times Fast 50
Ranking:
2007 - Honored with Longevity Award for 5 Consecutive Years
2006 - 39th out of 50 in the East Bay
2005 - 26th out of 50 in the East Bay
2004 - 21st out of 50 in the East Bay
2003 - 11th out of 50 in the East Bay
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Valley Oak Systems has been honored by the East Bay Business Times Fast 50 list with the Longevity Award for 5 Consecutive Years as a fastest-growing private company in the East Bay. To qualify for this List a company had to be headquartered in the East Bay, be in the business at least three fiscal years through FY 2006 and have revenue greater than $200,000 in FY 2004.
As a tribute to our success we would like to acknowledge our employees...
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