Purchasing Power, LLC was recognized as one of Atlanta’s 50 fastest-growing privately-held companies by the Atlanta Business Chronicle’s Pacesetter Awards. This is the fourth consecutive year the company has received this prestigious business award.
Each year the Atlanta Business Chronicle honors the city’s top privately-held businesses. Companies headquartered in the Atlanta metropolitan area were evaluated as candidates for the Pacesetter Awards based on a growth index formula calculating a two-year growth in sales of more than 50 percent and with revenue between $1 million and $300 million in 2011.
Purchasing Power offers an employer-sponsored voluntary benefit program which enables its customers to purchase big-ticket items through the convenience of payroll deduction.
“Purchasing Power’s continued growth is the result of successfully meeting the needs of our clients and customers,” said Richard Carrano, Purchasing Power CEO. “In the past year we increased our client base by 26 percent and retained key clients, resulting in a record-breaking revenue year. Additionally, we have built and retained a talented team of professionals to serve our customers and support the expansion of our product catalog.”
In 2011, Purchasing Power’s revenue increased 27 percent in over 2010. Purchasing Power’s success comes on the heels of a record holiday selling period that saw an astounding 48 percent increase over the same period in 2010. Additionally, the company increased its workforce by 18 percent and tripled the items in its product catalog.