During the past five years, WHI (formerly Wrenchead) has grown more than 530 percent — rocketing straight to the top with a catalog of Web-based products for its customers. The company's success hasn't gone unnoticed; today, CEO Bryan Murphy announced that WHI ranked number 361 on Deloitte's 2007 Technology Fast 500, which looks at 500 of the fastest growing technology, media, telecommunications and life sciences companies in North America. The rankings are based on percentage of fiscal year revenue growth over five years, from 2002 through 2006.
According to Murphy, innovation is the key to the company's rapid growth. "We supply a powerful, easy-to-use distribution management solution to our customers over the Web, which is more cost-effective and delivers more features than traditional software," he says. "Each product is priced by user, which means the up-front costs are lower and the return on investment is faster for our customers. This ultimately increases sales and decreases cost for industry participants."
Since its launch in 2003, WHI's Nexpart e-commerce solutions have grown to over 76,000 users buying from more than 4,000 integrated warehouse distributor and jobber locations across the nation. The company's Nexpart Distribution Management solution, a Web-based inventory management system, now has more than 5,000 users. According to Murphy, these Web-based applications deliver better inventory control for both the warehouse distributor and the vendor, as well as increased sales and increased customer satisfaction.
"The bottom line is that the more our products increase sales and efficiency for our customers, the faster we grow, so that's been and will continue to be our focus," Murphy continues.
Nexpart e-commerce solutions allow manufacturers to make their inventory items available for purchase online, making purchase orders and customer service hotlines a thing of the past. Instead of placing orders over the phone or wrestling with a fax machine, distributors can view inventory levels and make their purchases with a click of the mouse. Nexpart also caters to the end consumer, by allowing distributors to post manufacturer inventory alongside warehouse inventory for customers to purchase online.
"Nexpart users can find and order out of stock parts from the manufacturers or other trading partners on their local distributor's Nexpart Web site," says Murphy. "This helps integrate manufacturers, WDs and their customers.
Such on-demand solutions are part of the fastest growing sector in the software industry today, and are driving WHI's growth, Murphy adds.
Deloitte is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries. According to Phil Asmundson, vice chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP, the Technology Fast 500 recognizes technology companies that have achieved extraordinary growth in North America's most innovative and competitive sectors.
"We congratulate WHI on this significant accomplishment," Asmundson says in a press release issued earlier to announce WHI's top ranking.
Overall, companies that ranked on the 2007 Technology Fast 500 had growth rates ranging from 253 to 79,060 percent over five years, with an average growth rate of 1,823 percent.
For more information about WHI, visit the company's Web site.
