Performance Assessment Network, Inc Tops Rising Star List in Deloittes Technology Fast 500 Program

Performance Assessment Network, Inc, the world leader in online assessment and talent management systems, has been named a Rising Star on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. A special category, the Rising Star list ranks 25 winners that have been in business three or four years. They are ranked based on percentage revenue growth over three years (2002 to 2004).

pan CEO David T. Pfenninger, Ph.D., credits the vision, dedication, and determination of the entire pan team for the companyís stellar 5,661 percent revenue growth over the past three years. ìMembers of the pan team at every level work together to deliver the innovative solutions and consistently positive experiences that enable our corporate, government and education customers to achieve truly impressive results. To have so rapidly advanced the standards of testing and assessment is incredibly gratifying.î

It is exceptional for a young company to gain early traction in todayís highly competitive technology marketplace and especially to report such strong revenue growth, said Tony Kern, deputy national managing principal of Deloitteís Technology, Media & Telecommunications industry practice. ìItís a credit to panís leadership that theyíve managed to ramp up their business so quickly.î

Since its inception in 2000, pan has grown rapidly, even during the economic slowdown. pan helps its clients automate the hiring process, drive down costs, minimize turnover, and create a higher caliber workforce. Today, panís secure, automated systems provide for the administration and delivery of professional assessment and testing instruments for organizations worldwide.

The company, which now has over 80 employees, continues to be at the forefront of technology used to manage assessment programs. pan owns and manages Vitaô, a Web-based talent management solution that supports complex, high-volume selection systems internationally, including programs for major U.S. government departments. pan also manages hundreds of proctored assessment centers for high-stakes testing, and in the education market, poet (pan online educational testing), is advancing Web-based test administration standards.

In September, pan was ranked as the fastest growing private company in the Indianapolis area by the Indianapolis Business Journal. Dr. Pfenninger was named a 2005 Ernst & Young Entrepreneur of the Year Award Winner in the Technology category for the Great Lakes Region, and is a finalist for the national award.

Rising Star Qualifications
To qualify as a Fast 500 Rising Star, entrants must have had 2002 operating revenues of at least $50,000 USD or $75,000 CD, for the United States and Canada, respectively, and 2004 operating revenues of at least $1 million USD or CD. Entrants must be headquartered in North America, and be a ìtechnology company,î defined as a company that owns proprietary technology that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companiesí technology in a unique way does not qualify.