RALEIGH, NC and LONDON--(Marketwire - Mar 27, 2013) - CloudPay, the pioneer of SaaS-based payroll automation for multinationals, announced today it has been selected as a Finalist for Red Herring's Top 100 Europe award, a prestigious list honoring the year's most promising private technology ventures from the European business region.
The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across Europe. The nominees are evaluated on 20 main quantitative and qualitative criteria: they include disruptive impact, market footprint, proof of concept, financial performance, technology innovation, social value, quality of management, execution of strategy, and integration into their respective industries.
This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz" and make the list a valuable instrument for discovering and advocating the greatest business opportunities in the industry.
"This year was rewarding, beyond all expectations," said Alex Vieux, publisher and CEO of Red Herring. "The global economic situation has abated and there are many great companies producing really innovative and amazing products. We had a very difficult time narrowing the pool and selecting the finalists. CloudPay shows great promise and therefore deserves to be among the Finalists. Now we're faced with the difficult task of selecting the Top 100 winners of Red Herring Europe. We know that the 2013 crop will grow into some amazing companies that are sure to make an impact."
Finalists for the 2013 edition of the Red Herring 100 Europe award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, mobile and other industries completed their submissions to qualify for the award.
The Finalists are invited to present their winning strategies at the Red Herring Europe Forum in Amsterdam, April 8-10, 2013. The Top 100 winners will be announced at a special awards ceremony the evening of April 10 at the event.
"Sometimes you can feel that while your success is recognized within your industry, by your peers, partners and competitors, you fly below the radar, unseen by the world at large. It is such a good feeling when you realize that your efforts are more widely appreciated and so it is heartening and a great honor to be recognized as a finalist for the Red Herring Top 100 and be included among the most innovative technology companies across Europe," said Andrew Pearson, CEO of CloudPay. "As the foremost provider of pioneering, SaaS-based global payroll technologies and services, CloudPay has grown significantly in recent years as more multi-national companies seek to gain better control and insight into their payroll activities. Our inclusion as a finalist validates our status as the foremost provider of cutting-edge technology solutions, well positioned for continuous strong growth."
About CloudPay
CloudPay's pioneering Software as a Service technology and extensive payroll expertise helps organizations streamline global payroll operations, increase efficiency and benefit from unprecedented business insight and intelligence. CloudPay is setting the standard for multi-national payroll management. For more information about CloudPay, please visit www.cloudpay.net