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Kiwi software developer makes Deloitte fast 500

Diligent takes tablets to the global boardroom

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New Zealand tablet software developer Diligent Board Member Services has earned a ranking on Deloitte's Technology Fast 500 list of US technology businesses.

Headquartered in New York but founded and listed on the New Zealand stock exchange, the software developer provides enterprise services for executive boards to manage documents for directors.

Ranked 156, Diligent came in one spot after Research In Motion. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary IP or technology that contributes to a majority of the company's operating revenues and have been headquartered in the US for five years. Companies must have base-year (2006) operating revenues of at least $US50,000 and current-year (2010) operating revenues of at least $US5 million.

Diligent CEO Alex Sodi told the New Zealand Herald that the company has been capitalising on the increasing pressure for heightened transparency in the boardroom in addition to the growth iPad and e-readers usage among the business sector.

''Our momentum is only improving and certainly all these devices have helped, they've provided a better way to access a lot of material. In the last quarter alone Europe grew more than we did as an entire company in the same quarter last year,'' he said.

In October the company announced that it had broke even with sales of US$4.8 million in the three months ended September 30, over double the US$2.2 million earned in the same period last year.

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