Company Attributes Growth to the Adoption of its SaaS-Based Enterprise Risk Management Platform and Unique Approach to Ensuring Customer Success
Boston, MA, November 19, 2019 — LogicManager today announced that it was named on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and energy tech companies in North America now in its 25th year.
LogicManager’s Founder and Chief Executive Officer, Steven Minsky, credits the company’s unique approach to ensuring customer success with its enterprise risk management software solutions. “It’s a great honor to be recognized in this way,” Minsky said. “Enterprise risk management is a strategic imperative for every organization today. This recognition confirms the value that LogicManager provides to risk professionals – the ability to see through traditional boundaries, across silos, and across third-party vendor risks.” With LogicManager, organizations across numerous industries can proactively manage risk, whether it’s a vulnerability to prevent, an opportunity to leverage, or a way to increase trust. They can ensure operational outcomes that will build a better tomorrow for their customers, employees, shareholders, and communities at large.
LogicManager has experienced hyper-growth over the past 4 years, with annual recurring revenue growing by 522% and the number of customers growing by 407% during the same period. Minsky credits the growth to the wide adoption of the company’s SaaS-based enterprise risk management platform along with its Customer Advocacy℠ approach for partnering with customers as their trusted advisor. LogicManager provides dedicated risk and compliance domain experts, at no additional cost, to ensure customers success in implementing and expanding their use of the company’s enterprise risk management platform.
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, Vice Chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, Partner, Deloitte & Touche LLP, an industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
In today’s See-Through Economy, rapid data sharing means that companies have nowhere to hide. Within a matter of seconds, information on corporate missteps is instantly available to customers, employees, shareholders and the community at large. Risk management comes down to managing reputation. Reputation is crucial for organizations to manage, as intangible assets — such as intellectual property, goodwill, proprietary ‘know-how,’ user base, customer experience, brand, and reputation — account for 87% of the net worth of the S&P 500. LogicManager is committed to helping organizations of all sizes across all industries identify and manage their operational performance, incidents, policy, vendor, audit, financial, compliance and IT governance, security, and privacy risks to preserve their reputations, reduce losses and ensure performance outcomes.
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2015 to 2018. Overall, 2019 Technology Fast 500™ companies achieved revenue growth ranging from 166 percent to 37,458 percent from 2015 to 2018, with median growth of 439 percent.
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’s 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.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), 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 “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” 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 www.deloitte.com/about to learn more about our global network of member firms.
LogicManager believes performance is a result of effective risk management. LogicManager’s market-leading ERM software solutions empower organizations to uphold their reputation, anticipate what’s ahead, and improve business performance through strong governance. The company is committed to helping businesses of all sizes across all industries proactively manage their risks to meet the expectations of their customers, employees, shareholders, and communities at large.
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