Purchasing Power LLC was recently named a 2010 Georgia Trend “Fast 40” company based on its consistent revenue and employment growth. Purchasing Power was ranked sixth on the list of large, mid-market companies in the Georgia Trend magazine’s July issue.
Purchasing Power offers an employee purchase program that helps employees of large companies and organizations purchase name-brand products with manageable monthly payments through payroll deduction. Since 2001, Purchasing Power has serviced more than 350,000 orders for employees of companies, including Fortune 500 and government agencies.
The annual Georgia Trend “Fast 40” list ranks 20 small, mid-market companies and 20 large, mid-market companies. To qualify for the list, companies must be headquartered in Georgia, have net sales between $15-500 million, and show sustained revenue and employment growth over the past three years.
“We believe that striving for excellence, establishing credibility and maintaining our values are vital to growing our business. Purchasing Power has been nimble and strategic which has fueled our growth and success,” said Richard Carrano, president of Purchasing Power.
Recipients of the 2010 “Fast 40” award were chosen from a field of more than 120 candidates. Rankings were based on a weighted score of three-year average growth, with revenue growth accounting for 75 percent of the score and employee growth accounting for 25 percent.
Purchasing Power reported more than $107 million in revenue in 2009, a 42 percent increase compared to 2008. The company also doubled both its revenue and workforce within a two-year period.