LAS VEGAS — Inc. magazine has recognized Service Repair Solutions Inc. (SRS) with a rank of 90 among the top 100 fastest growing private software companies.
SRS, which provides information solutions for the automotive repair industry, experienced a three year sales growth of 214 percent between 2006 and 2009. Overall, SRS was ranked number 1,363 on the fourth annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. This is the second year that SRS has qualified to be recognized on the Inc. 5000 list.
“The leaders of the companies on this year’s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression,” said Inc. President Bob LaPointe. “The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs.”
SRS serves the automotive service and repair market through its wholly owned operating divisions: Mobile Productivity Inc. (MPi), Identifix Inc., International Automotive Technicians’ Network Inc. (iATN) and Auto Point Inc.
MPi was the founding business of the company and currently serves more than 800 new car dealerships with its "World Class Inspection" program. Identifix Inc. serves the automotive aftermarket with a telephone-based Repair Hotline service to assist technicians in diagnosing vehicles in their repair shop fielding 15-20,000 calls per month, as well as Direct-Hit, an online diagnostic information service that allows technicians to access the Identifix database of symptoms and potential fixes with more than 25,000 subscribers. iATN is an online community of more than 67,000 automotive repair professionals in 153 countries. And, Auto Point is a total ownership lifecycle company serving new car dealerships. The company’s focus is complete customer retention programs and fixed ops vehicle inspection declined services.
Despite the fact that most of this year’s measuring period of 2006 through 2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year, the publication reports. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96 percent from last year’s 126 percent. This year’s Inc. 5000 employ a record 1.4 million people, up from one million on last year’s list. With unemployment remaining stubbornly high, policymakers and business leaders will do well to look to the Inc. 5000 companies for fresh ideas on achieving growth and creating jobs.
Commenting on the ranking, Les Silver, CEO of Service Repair Solutions, stated, “We are very proud of the hard work of all our employees, which has resulted in our tremendous growth over the past few years. With the current challenges the automotive industry faces, our services have become increasingly vital. It is our mission to revolutionize the delivery of service and repair in the automotive industry. SRS enhances service and repair at the point of delivery improving the experience for those diagnosing, repairing, and communicating the growing complexity of automotive service.”
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region and other criteria, can be found here.