Alpharetta, GA, February 2, 2009 – Provaré Technology today announced that its 2008 sales were up almost 200% from 2007 levels. This amazing increase in sales came in a year that most businesses would rather forget. In 2008, the Dow Jones Industrial Average lost 34%; the bottom fell out of the US housing market; global economies took a beating; and even bonds suffered a loss. The tech-heavy NASDAQ did even worse, falling 41% in 2008. Yet in the midst of this challenging climate, Provaré Technology had its best year ever.
“Although I don’t want to take this increase for granted – and I certainly don’t want us to rest on our laurels,” says Bill Tepper, CEO of Provaré Technology, “this result is not entirely unexpected. Companies laid off hundreds of thousands of employees in industries across the map in 2008. But at some point, those remaining behind realized that they still had to get the work done. Corporate executives cannot afford to be too lenient in a brutal business climate like we saw in 2008. In fact, they usually demand more effort and productivity from those employees remaining on the payroll.”
The unique project focus of the Provaré business model has perfectly positioned the company to fill the gaps left by cuts in both full time staff and contract employees. Provaré’s willingness and proven ability to do very short jobs, respond within hours of a request, produce needed results immediately, and stop as quickly as they start makes Provaré not only unique in its areas of expertise, but also makes it a highly coveted quality and productivity parter – now more than ever.
Even with most traditional staffing companies – including the ones that try to position themselves as Provaré’s competition – the minimum commitment is usually 3 months. Shorter engagements or early terminations dramatically increase the costs of such approaches. But as Tepper is always quick to point out, Provaré has done jobs as small as a few hours for the same rate as they charge for much larger jobs.
Yet there is more to the story than just an all-around increase in sales. The largest increases in revenue have come in the process improvement area of the business. “Again, I think it’s all about getting the maximum productivity from your people,” says Sandi Tepper, cofounder of Provaré and lead for Processes and Communications. “It may sound really good to have management chanting that ‘we must do more with less,’ but the successful companies are those that forego the chants and actually find a way to make it happen. Back in the days of ever-rising stock prices and consumer spending, our clients could afford to make productivity improvements a ‘nice to have’ on the priority list, but not anymore. Suddenly, such initiatives are getting visibility, budget, and top billing at corporate board meetings.”
At this point, Provaré Technology is planning for a more modest 20% increase in sales in 2009. “I would love to see us triple our sales again in 2009,” says Bill Tepper, “but I would prefer to err on the side of caution for now – at least in our budgeting.”
Even if Provaré were to experience zero growth in 2009, that will probably be far better than most companies will do. While the NASDAQ fell 41% in 2008, Provaré saw its share price increase 42%. Most investors would happily have traded their 2008 losses for a zero percent change.
About Provaré Technology
Founded in 2004, Provaré Technology is a provider of a variety of services crucial to the development and productive deployment of technology products. Provaré’s offerings include software test engineering, software configuration management (CM), process improvement, and product qualification services. Provaré staff members have decades of experience spanning all aspects of technology product development for space, defense, intelligence, telecom, wireless, point-of-sale, data warehousing, cable video, and internet access industries. For more information about products and services offered by Provaré Technology, please visit
Bill Tepper, CEO
Phone: +1 (770) 814-4169