Deloitte on the 8th of April 2021 announced the winners of its Deloitte Technology Fast 500™ Asia Pacific 2020, a ranking of the 500 fastest growing technology companies in Asia Pacific.
Rankings are based on percentage revenue growth over three years. RatesCalc grew 567% percent during this period and not only made the Fast 500 but was also inside the top 100 companies.
RatesCalc’s CEO, Col Levander, is so proud to be able to announce that RatesCalc is ranked number 100 Fastest-Growing Technology Company on the Deloitte Technology Fast 500™ Asia Pacific 2020 in Australia. He credits the growing Australian market and his dedicated team at RatesCalc for helping to build a successful software company
“First and foremost, to build a successful company, you must have a vision and real passion around what you’re doing. You have to believe very strongly that what you’re planning is ‘doable’, that the market needs it and that you can help make it happen. It’s even more rewarding when the product also makes a difference to people’s lives and companies‘ success. Then bringing clients, partners, vendors, and of course, great people on this journey with you is a turning point for your business. We continue to see wage theft and misinterpretation of rates as an issue in Australia. Companies that don’t comply run a real risk of losing what they have built. We are looking forward to the future and we know that any company that pays people can benefit from our technology.” Col Levander, CEO RatesCalc
Looking into the short-term future of RatesCalc sees New Zealand as the next market where the product will launch. Plans are also underway to expand into the United Kingdom and Singapore markets. Strong partnerships have been fostered over the years to ensure maximum integration to the most widely used recruitment software out there. Focusing on some major integrations in the next 12 months will see Ratescalc.com set up for the future.
The 567% revenue growth rate at RatesCalc is attributed to its clients’ continued confidence in using RatesCalc’s Software Platform to achieve accurate wage and payroll calculations for labour hire, recruitment and payroll companies.
“The Australian labour market can be very tricky and everyone involved in labour hire needs to make sure that their calculations are on par with Fair Work Modern awards and most importantly any changes in awards are updated on their systems in real time. This is what RatesCalc does, we automate these workflows to ensure real-time compliance. This is what we are all about and we are seriously passionate about what we do and the service that we deliver to our clients.” Col Levander, CEO RatesCalc
This is the first year that RatesCalc has submitted an application for this prestigious award and they are incredibly proud to have made the top 100. Overall, companies that ranked on the Deloitte Technology Fast 500™ Asia Pacific 2020 program had an average growth rate of 551% percent, and RatesCalc has secured its place in the top 100 amongst many other fast growing businesses in the Asia Pacific region which includes China, Taiwan and Singapore who are all major players in advancing technology.
“Being ranked on the Deloitte Technology Fast 500™ is an impressive achievement, especially because today’s technology companies are thriving in extraordinarily competitive and changeable environments. We applaud RatesCalc for being one of the top ranked Australian companies on the index.” Mike Horne, Asia Pacific Deloitte Private Leader
We are in good company, with twenty Australian companies ranked in the top 100 companies on the Deloitte Technology Fast 500™. Verrency was the highest-ranking Australian company with a 2752% growth rate over the last three years. Verrency ranked 15 on Deloitte Technology Fast 500, amongst 20 Australian other companies that ranked in the top 100. We congratulate all our fellow winners, colleagues and other tech companies for their achievements and support their continued growth.
About Deloitte’s 2020 Technology Fast 500™ – selection and qualifications
The Technology Fast 500™ list is compiled from the Deloitte Asia Pacific Technology Fast 50 programs, nominations submitted directly to the Technology Fast 500™, and public company database research. To qualify for the Technology Fast 500™, entrants must have had base-year operating revenues of at least US$ 50,000. Entrants must also be public or private companies headquartered in Asia Pacific and must be a “technology company,” defined as a company that develops or owns proprietary technology that contributes to a significant portion of the company’s operating revenues; or manufactures a technology-related product; or devotes a high percentage of effort to the research and development of technology. Using other companies’ technology in a unique way does not qualify.
RatesCalc is a payroll compliance software that is proudly born out of Australia. It’s a unique & clever technology platform that allows recruitment and labour companies to automate their workflow and ensure compliant wage calculations, pay rates and payroll compliance.
It’s essential for any business including recruitment or labour hire or group training companies that want to automate their workflow and ensure compliant wages and payroll accuracy, including margin benchmarking and employment contracts.
If you want to ensure that you are paying staff correctly, or you are supplying labour hire materials professionally, RatesCalc protects both your operating profit and your industry reputation allowing you to grow your business and be first to market. RatesCalc is the cloud based software that monitors Fair Work Modern Awards, updates any increases and changes in real time ensuring that your payroll is processed in accordance with legal standards and requirements.