DENVER and HOUSTON, Oct. 22 /PRNewswire/ -- Transzap™, the parent company of Oildex™, the energy industry's leading provider of ePayables, eBudgeting and eRevenue software-as-a-service (SaaS) solutions, today announced that it was selected for the Technology Fast 500™, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
Rankings were based on percentage of fiscal year revenue growth during the period from 2005–2009.
Transzap, Inc grew 158 percent during this period.
Peter Flanagan, the CEO and President of Transzap, attributes the company's exceptional growth to its focus on service and innovation. "Transzap's success and growing market leadership are the direct result of the company's commitment to deliver quality services that simplify the business operations of companies drilling and producing oil and natural gas. In 2009, in particular, we experienced unprecedented growth, processing over 58 million transactions electronically and growing our supplier network by 70 percent, becoming the 'go-to' ePayables SaaS solution for companies looking to control costs throughout their supply chain, improve their cash management, and boost their productivity. We are honored to be included on Deloitte's 2010 Technology Fast 500."
Transzap Inc.'s Oildex SaaS suite of ePayables, eBudgeting, and eRevenue solutions provide oil and natural gas companies with the capability to quickly and accurately process, track, and manage critical business information, such as invoices, field tickets, joint interest bills (JIBs), and revenue detail, electronically. The software is easy to use, secure and reliable – being SAS 70 Type II audited and certified.
For additional detail on the Technology Fast 500™ including selection and qualifying criteria, visit www.fast500.com
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
About Transzap, Inc.
Transzap™ is the parent company of Oildex (www.oildex.com), which provides ePayables, eBudgeting, and eRevenue software-as-a-service (SaaS) solutions to the oil and natural gas industry, and serves over 9,000 companies and 200,000 registered users. The Oildex suite of services streamlines operations, enabling companies to shift from paper-based processes to electronic and provides tools for companies to track and understand their transactions in near-real time. Currently available services include: digital and scanned invoice processing (Spendworks™), business intelligence (Trendx™), owner/producer relations data websites (Owner Relations Connect™), check stub reporting (Checkstub Connect™ - CDEX), scanned check stub reporting (CDEX Complete™), joint interest bill processing (JIB Connect™), scanned JIB processing (JIB Complete™), budget creation and approval (AFEworks™), crude oil data exchange (Run Ticket Connect™ - CODE), and production and sales volume reporting. Transzap has offices in Denver and Houston.
SOURCE Transzap, Inc.; Oildex