REDMOND, Wash., September 29, 2006 - Concur Technologies, Inc. (Nasdaq: CNQR), the world's leading provider of on-demand business services that automate Corporate Expense Management (CEM), today announced that it has been named to Deloitte's prestigious Technology Fast 50 Program for the Pacific Northwest. Deloitte's Fast 50 Program is a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in the Washington, Oregon and Idaho region by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations.
Rankings for the Fast 50 Program are based on the percentage of revenue growth during the five years spanning 2001–2005. Concur's president and COO, Rajeev Singh, credits strong client demand, increased awareness, and increased distribution capacity through both direct sales and partners for the company's strong growth during this period.
"Demand for our services is being driven by organizations of all sizes seeking greater control over their travel and entertainment (T&E) spending," Singh said. "Eight to ten percent of an average company's total operating expenses go toward T&E, highlighting the need for an end-to-end travel and expense management solution that delivers increased visibility while streamlining the entire process. Concur's on-demand services make it quick, easy and affordable for our customers to implement a seamless travel and expense management solution that helps them drive even more costs out of their businesses."
"To rank on Deloitte's Technology Fast 50, companies must have phenomenal revenue growth during the five year period," said Larry Hile, a Partner in Deloitte's Technology, Media & Telecommunications (TMT) industry practice based in Seattle. "Concur Technologies has proven to be one of the fast-growth success stories in the Pacific Northwest, and we applaud their dedication to making their vision a reality."
Winners of the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
All company or product names are trademarks and/or registered trademarks of their respective owners.