ECI Named to Inc. 500
August 28 , 2006
Electronic Commerce, Inc. (ECI), a leader in business process outsourcing of payroll, human resources, benefits, timekeeping and tax, has been named to the 2006 Inc. 500 list of the fastest-growing private companies in the country. The 25 th annual list ranked ECI at #148, citing its 706.9 percent growth in the last three years and applauding its market savvy and customer focus.
Founded in 1996, ECI finds itself among the most robust bunch of companies the magazine has ever recognized. “If you want to find out which companies are going to change the world, look at the Inc. 500,” says Inc. Editor Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can’t live without. The Inc. 500 list is Inc. magazine’s tribute to American business ingenuity and ambition.”
ECI was one of 10 Ind.-based companies named to the Inc. 500 list this year, and one of only 29 in the list servicing the human resources industry. “Of course we’re thrilled to be on the Inc. list,” says Jeff Lacy, ECI President and CEO. “It’s quite an honor. At the same time, I know how hard we have worked to offer outstanding customer support along with exceptional products that are competitively priced. Our staff has done a tremendous job at staying true to our mission.”
More than lip service, ECI maintains a 98 percent client retention rate, a noteworthy accomplishment in any industry and one that obviously factored into this most recent honor, which is not the first for the company. In 2005 ECI was named an Indiana Entrepreneurial Awards of Distinction finalist, in recognition of exceptional entrepreneurial achievements, and in 2004 was a winner of the Growth 100 award, which honors the fastest-growing companies in Indiana.
To qualify for the 2006 Inc. 500 list, which tracked revenue growth from 2002 through 2005, companies had to be founded and generating revenue by the first week of 2002. They had to be U.S. based, privately held and independent (not a subsidiary or division of another company) as of December 31, 2005. They were also required to have posted at least $600,000 (up from the $500,000 required of last year’s honorees) in net sales in the base year.
ECI (www.ecipay.com) offers payroll, human resources, benefits, timekeeping and tax outsourcing to customers in 48 states. ECI’s client base includes both publicly traded and privately held businesses that cross multiple industries from coast to coast. ECI’s corporate headquarters are located in Elkhart, Ind., with sales offices in Elkhart, Indianapolis and South Bend, Ind.; Detroit, Grand Rapids and Kalamazoo, Mich.; Columbus and Cleveland, Ohio; and Chicago, Ill. ECI was a winner of the 2004 Growth 100 award that recognizes the fastest growing companies in Indiana. ECI was founded in 1996 and is a SAS70 audited company.
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