{"id":385278,"date":"2020-11-19T10:08:10","date_gmt":"2020-11-19T15:08:10","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385278"},"modified":"2020-11-19T10:08:10","modified_gmt":"2020-11-19T15:08:10","slug":"vendengine-named-a-fastest-growing-company-in-north-america-in-deloittes-2020-technology-fast-500","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/vendengine-named-a-fastest-growing-company-in-north-america-in-deloittes-2020-technology-fast-500\/","title":{"rendered":"VendEngine Named a Fastest-Growing Company in North America in Deloitte\u2019s 2020 Technology Fast 500\u2122"},"content":{"rendered":"

\nAttributes 372% Revenue Growth to a new FinTech Model for an outdated industry
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NASHVILLE, Tenn., Nov. 19, 2020 (GLOBE NEWSWIRE) — VendEngine<\/a>, a cloud-based FinTech provider focused on the corrections industry, has been ranked 291\u00a0on\u00a0Deloitte\u2019s Technology Fast 500<\/a>\u2122, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America now in its 26th\u00a0<\/sup>year.<\/p>\n

The company finished second overall across the state of Tennessee. Deloitte noted VendEngine\u2019s incredible 372% over a three-year period.<\/p>\n

\u201cFor more than 25 years, we\u2019ve been honoring companies that define the cutting edge and this year\u2019s Technology Fast 500 list is proof positive that technology \u2014 from software and digital media platforms, to biotech \u2014 truly does permeate so many facets of our lives,\u201d said\u00a0Paul Silverglate<\/a>, vice chairman, Deloitte LLP and U.S. technology sector leader. \u201cWe congratulate this year\u2019s winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic.\u201d<\/p>\n

Overall, 2020 Technology Fast 500\u2122 companies achieved revenue growth ranging from 175% to 106,508% from 2016 to 2019, with median growth of 450%.<\/p>\n

\u201cThis is a significant accomplishment for VendEngine as we continue our rapid growth in the midst of a challenging coronavirus economy,\u201d said Silas Deane, president and CEO of VendEngine. \u201cDeloitte\u2019s fastest-growing technology rankings is the gold standard of tech growth lists, and we are honored by the recognition as we chart our future in a rapidly evolving FinTech marketplace.\u201d<\/p>\n

VendEngine\u2019s core suite of business applications include financial accounting, trust fund management, commissary, communications, and electronic payment solutions to the government sector and across the corrections industry.<\/p>\n

“Each year\u00a0the Technology Fast 500 listing validates how important technology innovation is to our daily lives. It was interesting to see this year that while software companies continued to dominate, biotech companies rose to the top of the winners list for the first time, demonstrating that new categories of innovation are accelerating in the pursuit of making life easier, safer and more productive,\u201d said\u00a0Mohana Dissanayake<\/a>, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte\u2019s audit and assurance practice. \u201cWe extend sincere congratulations to these well-deserved winners \u2014 who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible.\u201d<\/p>\n

\n About VendEngine<\/b>\n <\/p>\n

VendEngine is a cloud-based technology provider specifically focused on the government payments and corrections industry. The Nashville, Tenn.\u2014based company provides a suite of financial and communications applications ranging from deposit technologies for commissary, ordering and warehouse technology to a host of informational, electronic communications, security, accounting and financial trust management components for more than 300 correctional facilities across 32 states and the Caribbean. For more information, visit\u00a0www.VendEngine.com<\/a>\u00a0or download the free VendEngine JailFunds app in the Apple or Android app stores.<\/p>\n

\n About Deloitte\u2019s 2020 Technology Fast 500\u2122<\/b>\n <\/p>\n

Now in its 26th\u00a0<\/sup>year, Deloitte\u2019s Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and energy tech companies \u2014 both public and private \u2014 in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2016 to 2019.<\/p>\n

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company\u2019s operating revenues. Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.<\/p>\n

\n About Deloitte<\/b>\n <\/p>\n

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (\u201cDTTL\u201d), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as \u201cDeloitte Global\u201d) does not provide services to clients. In the United States, Deloitte refers to one or more of\u00a0the USmember firms of DTTL, their related entities that operate using the \u201cDeloitte\u201d name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see\u00a0www.deloitte.com\/about<\/a>\u00a0to learn more about our global network of member firms.<\/p>\n

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