Works Applications Co., Ltd. receives 8th annual "Deloitte Japan Technology Fast 50" technology company growth ranking award

Works Applications Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director, Chief Executive Officer: Masayuki Makino; hereinafter “WAP”) is pleased to announce that we have received the 8th annual Deloitte Japan Technology Fast 50 award for that ranks rapid corporate growth in the Technology, Media & Telecommunications (Hereinafter "TMT") industry. The rankings are published by Deloitte Touche Tohmatsu LLC (Hereinafter "Tohmatsu").

The Fast 50 ranking is conducted for 20 countries around the world, as well as three regional rankings in the Americas, Europe, and Asia-Pacific. It serves as a benchmark for growth and success in the technology industry. All companies in the TMT industry are eligible for ranking, regardless of whether or not they are publically traded. Fast 50 ranks the 50 companies with the highest sales growth rates over the last three accounting periods.

About the Japan Technology Fast 50 ranking

The Japan Technology Fast 50 is Tohmatsu's ranking of the 50 fastest growing companies in the domestic TMT industry. Based on the sales growth rate from the last three accounting periods, the industrial sectors eligible for the ranking include communications, networking, computers  and peripherals, internet,  semiconductors, electronic parts, electronic devices, software, content, biotechnology, pharmaceuticals, medical devices, green technology, and media/entertainment.

*Companies with accounting periods that run from January to March are ranked by their sales growth rates for 2008 to 2010. Every other company is ranked based on their sales growth rates for 2007 to 2010.

Furthermore, details on the Fast 50 program can be found at the following URL.

Works Applications' technology initiatives

Aiming at accumulating high technical prowess, WAP established Advanced Technology and Engineering Headquarters (Hereinafter "ATE"), an organization dedicated to full-time research and development in service platform technology, in 2008. While it engages in research on a number of different topics, ATE is currently focusing on research into the following two topics.

(1) Cloud computing research

WAP began researching cloud computing in 2008, and is engaging in research and development towards a goal of running its COMPANY ERP package on the cloud. In September of 2010, it officially announced its partnership agreement with Amazon Web Services, provider of the Amazon EC2 public cloud service. WAP became the first of any domestic vendor of ERP packages for major corporations to offer a package on the EC2 platform.

WAP will continue to research the efficient utilization of cloud computing in order to realize major cost reductions for its corporate users.

(2)  Research into quality improvement

In recent years, more and more major corporations have chosen to adopt ERPs and other business software packages rather than take the traditional approach of in-house development. This is because of the merits they provide in terms of delivery dates and cost.  On the other hand, customizations and add-ons used to tune software for a certain business cause it to become bloated and overly complicated. This leads to bugs and other defects, so quality has become a major concern for customers.  According to a study by the Ministry of Economy, Trade and Industry (METI) (*), the number of bugs found in software integration tests account for more than 30% of all defects during system construction.  

WAP not only provides customers with software of a constant, highly mature quality level, but it leverages the strengths of its customization-free software package COMPANY by completely overhauling its quality testing methods and methodologies. As the culmination of this initiative, WAP plans to ship a "bug-free version" of COMPANY in 2011.

* Source: METI "2010 survey report on the conditions of the embedded software industry" (June, 2010)

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