Cloudstaff Modern Workforce, a leading global cloud workforce provider, is proud to announce that it has today been listed in the Australian Financial Review’s Fast 100.
The prestigious Fast 100 list ranks Australian businesses according to their annual average growth rate across three years, and showcases the organisational successes and entrepreneurial accomplishments of Australia’s fastest growing businesses.
Cloudstaff’s rapid growth began in 2010 when Australian internet pioneer Lloyd Ernst recognised the wealth of opportunity that existed in the Philippines for Australian companies to affordably outsource back office tasks and processes.
Initially focussing on providing accounting, administration, and real estate support staff to the Australian market, Cloudstaff consistently doubled in size each year while expanding its operations across the Philippines to service a global client base.
Today, Cloudstaff provides over 2,500 staff performing more than 270 unique job roles to clients all around the world.
Founder and CEO Lloyd Ernst described Cloudstaff’s inclusion in the AFR Fast 100 an “incredible honour” while putting the company’s extraordinary growth down to the mass uptake in cloud technology.
“When we founded Cloudstaff, our goal was to reinvent the outsourcing business model because we knew it could be better”, Ernst said. “We could see that the business functions were moving towards the cloud and we recognised moving staff to the cloud as being the natural progression of this.
We were not so surprised by the rapid growth because we could see the opportunity that was there, but what surprised us was the extraordinary scope of industries and roles that it took in.
“To be recognised in the Fast 100 list is an extraordinary achievement and one that stems from an incredible amount of hard work by our team. We are all very proud.”
These sentiments are echoed by Cloudstaff CFO Jamie Stewart who says that the growth that Cloudstaff has achieved is a result of the growth it has helped facilitate for its clients.
“Growth is only achieved when you are able to deliver world class services”, Stewart said. “Delivering these services enables your clients to grow and expand their services as a result. This partnership with our clients has been a critical success factor for Cloudstaff over the last year.
“We have invested significantly in our platform, processes and procedures to support our clients’ growth, and we are now really starting to reap the benefits.”
To be considered for the AFR Fast 100, companies had to prove a minimum average growth rate of 20.7% over three years and record revenue of at least $500,000 in FY18-19.
This year, Technology companies represent 22% of companies on the list followed by Support Services and Financial Services representing 10% each, respectively.
Melbourne provided 23% of the winners, Sydney provided 18% and Brisbane 5%.