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  • Moving up rapidly

    Moving up rapidly
    By Andrew Blazier Staff Writer

    Pasadena Star-News

    *Monday, October 11, 2004* - PASADENA -- *Tenrox* Inc. is moving fast.
    And it's just picking up speed.

    With average revenue growth of more than 40 percent in each of the
    last nine years, the Pasadena-based firm is quickly finding its place
    among the region's high-tech rising stars.

    Last month, the software company was named to *Deloitte & Touche*
    LLP's Technology Fast 50 list, ranking 16th among Los Angeles'
    fastest-growing tech companies. Deloitte, a Big Four accounting firm,
    presents the yearly honor to L.A.-area companies that generate at
    least $1 million in annual revenues and have been in operation for
    more than five years.

    Tenrox's revenues have grown 423 percent since 1999, but the company
    is moving on the ground, as well. Founded in Montreal in 1995, the
    Tenrox moved its headquarters to Pasadena in November to be closer
    to a growing number of West Coast customers.

    "We didn't have a West Coast presence at all, so we had few customers
    here,' said President and Chief Executive Rudolf Melik, who runs Tenrox
    with his brother, Ludwig Melik, the firm's vice president of sales.

    Tenrox maintains a staff of 100 in Montreal. In order for the company
    to continue its torrid growth, it had to be located near the bulk of
    its clients, who generally are located in the United States.

    "We needed to have our key executives in the U.S.,' echoed Ludwig
    Melik.

    Nine years ago, the Armenian brothers emigrated to Canada from
    their home country, Iran. When they co-founded Tenrox with two other
    partners, they served as a pure consulting firm.

    In 1999, the company changed directions, devloping products that
    help medium-size companies manage their accounting systems with a
    centralized electronic format. The Meliks say the business has received
    a sharp increase in demand from firms complying with the Sarbanes-Oxley
    Act of 2002. Clients typically have between 100 and 200 workers.

    That sweeping legislation was designed to reform management structures
    and restore the public's faith in corporate governance. But it has
    created a wave of companies offering solutions to the problems caused
    by increased regulation.

    For the Meliks, the government's demands have translated into surging
    revenues. They say the software offers clients a broad range of
    solutions to problems that include compliance with federal and state
    labor laws, tracking project progress and speeding up reporting times.
    The suite also aims to increase employees' access to data such as
    vacation time, individual schedules and benefit plans.

    "Our product is mission-critical,' Rudolf Melik said. "We don't want
    to miss a beat.'

    Andrew Blazier can be reached at (626) 962-8811, Ext. 2477, or by
    e-mail at [email protected] <mailto:[email protected]> .
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