Copanion, Inc., a provider of paperless tax workflow technology, announced that it was selected for the 2010 Red Herring 100 North America award. Red Herring recognizes private companies that are leaders in providing innovative technologies across their respective industries.
"We were very excited and honored to be recognized as a Red Herring Top 100," said Ed Jennings, Copanion CEO. "This award is further testament to Copanion's dedication to providing powerful, market-leading solutions. We continue to enhance our systems to alleviate common issues and pain points for our client base."
Red Herring's Top 100 North America list has become a mark of distinction for identifying promising new companies and entrepreneurs, according to the company. Copanion was selected over hundreds of other candidates across North America based on technological innovation, strength of management, and customer and financial health.
"Choosing the companies with the strongest potential was by no means a small feat," said Alex Vieux, publisher and CEO of Red Herring. "After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 Winners. We believe Copanion embodies the vision, drive, and innovation that define a successful entrepreneurial venture. Copanion should be proud of its accomplishment, as the competition was very strong."
Red Herring's editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration.
This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers. This allows Red Herring to see past the buzz and make the list a valuable instrument of discovery and advocacy for the most promising new business models in North America. Past winners of the Red Herring 100 award include Facebook, Twitter, Google, Yahoo!, Skype, Salesforce.com, YouTube, and eBay.
Copanion is a leader in paperless tax workflow technology - a comprehensive and integrated family of Web-based products that automate client tax document retrieval, organization, data entry, and review. The GruntWorx family of products has been in use for multiple tax seasons by thousands of accounting professionals - from sole practitioners to those working in large regional firms and the Big 4. GruntWorx is the product of choice for tax professionals - with more than 4 million processed tax forms this past tax season. To date, Copanion products have earned multiple accolades, including back-to-back Technology Innovation Awards (2008 & 2009) and a Readers' Choice Award from The CPA Technology Advisor, Accounting Today's Top 100 Ones to Watch, and a K2 Annual Quality Award.