Three year sales growth of 2,557% from 2006 to 2009 and ranked #5 in Financial Services
Nashville, TN - August 26, 2010 - Capital Confirmation, Inc., the creator and world's leading provider of secure electronic audit confirmation services, announced today that it has been named one of the 500 fastest-growing private companies in America by Inc. magazine as a result of the success of its solution Confirmation.com. In addition to ranking 96th overall, Capital Confirmation ranked #1 in Middle Tennessee, #2 in Tennessee, and #5 among Financial Services providers.
"Fast growth at any time is a big achievement; fast growth during the past few years is just short of miraculous," said Inc. editor Jane Berentson. "The Inc. 500 consists of these just-short-of miraculous companies, the ones that through ingenuity and ambition have increased revenue, hired employees, and grown fast in difficult economic times."
Capital Confirmation's patented online audit confirmation solution Confirmation.com transformed the 90 year old manual paper- and mail-based audit confirmation process into an efficient electronic service which also reduces the opportunity for confirmation frauds like those that occurred at Parmalat, Kmart, Satyam and Ahold. The Confirmation.com solution is integrated into all three of the largest audit software packages: CCH's ProSystem Fx, Thomson Reuters' Engagement CS, and CaseWare. With over 7,000 accounting firms in 94 countries and all ten of the Top 10 banks in the U.S. including the Federal Reserve Bank now using the service, in 2010 Confirmation.com received exclusive endorsements from both the American Bankers Association (ABA) and the American Institute of Certified Public Accounts' (AICPA) Trusted Business Advisor group CPA2Biz.
"We are thrilled to be recognized on the Inc. 500 list," said Chris Schellhorn, CEO of Capital Confirmation, Inc. "Our growth is a result of providing financial institutions and the accounting profession a more secure and efficient way of managing audit confirmation requests. This achievement validates our strategic direction and demonstrates the continued demand for cloud-based solutions that improve efficiency and reduce cost."
This accomplishment is in addition to recent awards presented to Capital Confirmation earlier this year including the 2010 Best In Business which recognizes the most successful private business in the Middle-Tennessee area, and Founder Brian Fox’s recognition as a Top Forty Under 40 CPA in the U.S. winner and one of Nashville’s 2010 Entrepreneurs of the Year.
The Inc. 500 list measures revenue growth for a three-year period of time. To qualify for the 2010 List, companies must have been founded and generating revenue by March 31, 2006. Additionally, they had to be U.S.-based, privately held, and independent - not a subsidiary or division of another company. The company must have generated at least $100,000 in revenue for 2006 and at least $2 million in revenue for 2009.