Approva Ranked Second Fastest Growing Company in Virginia by Deloitte's Technology Fast 50 Program
Controls Intelligence Company Posts 13,708% Growth in Five Years
September 29, 2008 - Reston, VA
Approva Corporation, a leader in controls intelligence software, has been named to Deloitte’s prestigious Technology Fast 50 Program for Virginia, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2003–2007.
Approva CEO, Prashanth “PV” Boccasam, credits the growing demand for a holistic approach to continuous controls monitoring and the increased controls intelligence awareness among CFOs, CIOs and audit committees with the company’s 13,708 percent revenue growth from 2003–2007. “We are extremely proud to be recognized as the second fastest growing company in Virginia by the prestigious Deloitte Fast 50 program and attribute our success to our world class team of professionals who are committed to delivering industry’s best solution in automated controls monitoring for SAP, Oracle, PeopleSoft and legacy applications,” said Boccasam. “Approva is gearing up for the launch of some very exciting solutions in the coming months that will help companies better manage risk and reduce operating costs by automating the way they test and monitor controls.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in Virginia, and be a company that owns proprietary technology or proprietary intellectual property 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 or intellectual property in a unique way does not qualify.
Companies from the nine 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 http://www.fast500.com.