TimeLog, a firm that provides software solutions to the consulting industry, has been named a winner of a Red Herring Top 100 Europe award. “The fact that TimeLog is the only Danish-origin company among the Red Herring Top 100 makes us very proud”, says TimeLog’s CEO Søren Lund.
Red Herring is a global media company which brings together innovators, technology firms, venture capitalists and business decision makers in a variety of offline and online forums. Every year, since 1996, the company organises a competition that recognises fast growing technology enterprises, across North America, Europe and Asia.
Red Herring Europe
Following a due diligence on the performance of over 1,200 privately held companies in Europe, the jury last month unveiled the shortlist for this year’s award competition. In coming to the list, enterprises were evaluated on a range of criteria, including technological innovation, management strength, market size, investor record, customer acquisition, and financial health.
The finalists were subsequently invited to Amsterdam to attend the Red Herring Europe forum (11-13 April), where they were asked to pitch their firm’s business case. As part of the process, more than 20 quantitative and qualitative criteria were also taken under scrutiny, and out of the meta-analysis came a list of Europe’s top 100 best performing privately held technology companies.
The winners were recognised during the Red Herrings Europe award ceremony, held on the final evening of the three day event. Among the winners is TimeLog, a technology brand from Denmark with a focus on the consulting industry. Founded in 2001, in Denmark, the software firm today provides IT solutions to more than 750 customers, the majority of which are active in the management consulting and IT consulting segments. TimeLog has expanded rapidly in recent years, and serves its approximately 20,000 daily users in 15 countries from its bases in Copenhagen, Stockholm, Amsterdam (established last year), and Kuala Lumpur.
The recent organic growth, in combination with its innovative portfolio of products and offerings*, stood at the basis of TimeLog’s recognition by Red Herring, says Alex Vieux, CEO of the media firm. “We believe TimeLog embodies the vision, drive and innovation that define a successful entrepreneurial venture. TimeLog should be proud of its accomplishment, as the competition was very strong”.
Commenting on the achievement, Lund says he is “very proud” of the scoop, in particular in light of the fact that TimeLog was the only Danish company to make the Red Herring Top 100 Europe 2016. He adds: “Every day, we work on improving our products and optimising our services. For us, it’s all about gaining a competitive advantage in a global market. In this context, the Red Herring Top 100 Europe award acknowledges our efforts and confirms that we have made the right decisions.”
* Late last year TimeLog launched a revamped version of its ERP software for consulting firms. The solution, including the latest features, was featured on Consultancy.uk in February this year.