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September 17, 2008
iTech's 45,038.89% growth rate tops Vermont Business Magazine's 2008 5x5x5 Growth Awards.
iTech’s 45038.89% growth over the past 5 years was more than enough to earn the honor of being named Vermont’s fastest growing company. An awards ceremony and reception presented by Vermont Business Magazine and KeyBank was held Wednesday, September 17th, at the Sheraton Hotel in South Burlington. Governor James Douglas was on hand to present the award.
Since 1987 Vermont Business Magazine (VBM) has published each January The Vermont 100+, an annual ranking of Vermont’s top 100+ businesses. From this data, VBM and KeyBank developed the 5x5x5 Growth Awards to honor the five fastest growing companies over the past five years by ranking the businesses in five major subcategories.
The awards take a look behind the numbers and tell the stories of the people who make up the dynamic culture of business in Vermont. Vermont’s largest companies, franchisees, and subsidiaries that are based in Vermont are included. The reported sales figures are then compiled to give VBM a clear picture of business growth trends in the state.
August 20, 2008
iTech makes Inc Magazine’s Inc. 5000 list of Fastest Growing Private Companies for the 2nd Consecutive Year.
New York, New York, August 20, 2008: Inc. Magazine named iTech on its annual ranking of the 5000 fastest-growing private companies in the country for the second consecutive year. iTech debuted on the Inc. 5000 in 2007 with a ranking of #113. The 2008 list ranks iTech at #1942.
The list is the most comprehensive look at the most important segment of the economy – America’s independent-minded entrepreneurs. Taken as a whole, these companies represent the backbone of the U.S. economy.
“Our second annual Inc. 5000 continues the most ambitious project in business journalism,” said Inc. 5000 Project Manager Jim Melloan. “The Inc. 5000 gives an unrivalled portrait of young, underreported companies across all industries doing fascinating things with cutting-edge business models, as well as older companies that are still showing impressive growth.”
The 5000 companies that made the list reported aggregate revenue of $185 billion and median three-year growth of 147 percent. Most important, the 2008 Inc. 5000 companies were engines of job growth, having created more than 826,033 jobs since those companies were founded.
The 2008 Inc. 5000 list measures revenue growth from 2004 through 2007. To qualify, companies must be U.S.-based and privately held, independent – not subsidiaries or divisions of other companies – as of December 31, 2007, and have had at least $200,000 in revenue in 2004, and $2 million in 2007.
Specializing in providing Business Process Outsourcing services and IT solutions, iTech employs 800 individuals internationally, including offices in Vermont, Massachusetts, Virginia, Texas, New Jersey, London, Qatar, and India.
May 28, 2008
iTech is honored at the White House for being among the nation's Fastest-Growing Asian American Owned Businesses
South Burlington, VT, May28, 2008: iTech US, Inc. (iTech), has been named by the US Pan Asian American Chamber of Commerce Education Foundation (USPAACC-EF) as one of its 50 Fastest-Growing Asian American Businesses. The official announcement was made during the 23rd Anniversary CelebrAsian Annual National Business Opportunity Conference ‘08, on May 28 at the Hilton Washington hotel in Washington, DC. A special presentation took place at The White House and at the Excellence Awards Gala Dinner at the Hilton Washington the same evening.
All of us at iTech are honored to receive this recognition from the USPAACC, the White House and our congressional leaders, said Kishore Khandavalli, the CEO of iTech. The growth has come from our ability to hire and retain good, high quality people. This recognition really validates the hard work and successes that we've had as a company
We congratulate our 50 Fastest-Growing Asian American Businesses for generating robust growth over the years—yet another indicator that through innovation, hard work and ingenuity, Asian Americans are at the forefront as engines of growth in our national economy,” said USPAACC-EF National President & CEO Susan Au Allen.
To qualify for the ranking, companies must be owned by one or more Asian Americans (at least 51% ownership), among other eligibility criteria. Based on percentage revenue growth over three years, selection was determined through direct applications and nominations. All finalists and winners were independently verified by the accounting and consulting firm of BDO Seidman, LLP.
October 18, 2007
iTech is named 2007's 3rd fastest growing technology company in the United States by Deloitte and Touche
South Burlington, VT, October 23, 2007: iTech US, Inc. today announced that it ranked number three on Deloitte's 2007 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002-2006.
iTech's CEO, Kishore Khandavalli, credits hiring talented people with the equally committed goal of providing reliable, cost-effective solutions to customers with the company's 39,392% revenue growth over the past five years.
"It wasn't our intention to grow as we did," says Khandavalli. "That was a by-product of doing the right things, delivering projects on time and within or under budget, and treating our employees right."
"To rank on Deloitt's Technology Fast 500, companies must achieve phenomenal revenue growth over five years," said Phil Asmundson, Vice Chairman, U.S. Technology, Media & Entertainment and Telecommunications, Deloitte & Touche USA LLP."We applaud iTech US for being among the fastest growing companies in North America."
In addition to ranking on Deloitte's Technology Fast 500, iTech US ranked number one on the New England Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in the northeast.
September 19, 2007
Delloitte and Touche name iTech US as the fastest growing technology company in New England.
South Burlington, VT, September 19, 2007: iTech US, Inc. today announced that it ranked number one on Deloitte's 2007 Technology Fast 50 for the New England Region, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the New England area. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002-2006.
"I really didn't expect to come in first on Deloitte's list, that was unbelievable." said Kishore Khandavalli, CEO of iTech. "These rankings really validate the hard work and successes that we've had as a company. Plus I'm sure it will come in handy with potential new clients, a real door-opening tool if you will."
August 30, 2007
iTech ranks 113 on the Inc.500 list of fastest growing private companies in the US
South Burlington, VT, August 30, 2007: When iTech US President and CEO Kishore Khandavalli received the call that his four-year-old company had made the Inc. 500 list for America's fastest growing private companies, he wasn't too surprised. That's because iTech has experienced over 1,474 percent growth in the last three years, 2003 - 2006.
Khandavalli hasn't had too much trouble getting in the doors of some of America's largest companies. He can boast clients such as Microsoft, Bally, Lehman Brothers, Pitney Bowes, and Qualcomm, just to name a few. iTech is a computer and software services company, which primarily focuses on developing custom software to meet the client's needs. The company specializes in data-warehousing, which manipulates raw data into more user friendly and manageable form based on a set of criteria. Khandavalli has demonstrated tremendous success in retaining talented staff to tackle software projects at clients' location. His next step is to create a "Tech Center" in Vermont staffed with software engineers so that he'll be able to offer more custom and creative development solutions to clients that can be built here in the Green Mountain State.
"My real goal when I started iTech was to provide reliable service and solutions to clients," said Khandavalli. "The growth has come from our ability to hire and retain good, high quality people. Vermont offers a lot of advantages to my business, including low-cost infrastructure, quality of life and loyal employees. But our continued growth will depend on being able to hire more qualified employees in Vermont or to encourage professionals to relocate to Vermont. I see that as my next big challenge."
And of course, Khandavalli has a plan of action to be able to find qualified employees in Vermont. He hopes to begin conversations with the local colleges and universities to establish internship programs or advise on real-life course curriculum, so that students in Vermont will easily transition into successful high-tech careers here instead of out of state.
"I want to expand on the in-house project side and develop a tech center here in Vermont," Khandavalli stated. "I really think this is achievable." |
