Cincom Systems Founder and CEO Tom Nies – the longest-serving CEO in the computer industry — was inducted into Ernst & Young’s Entrepreneur of the Year 2004 Hall of Fame at an awards banquet held in Palm Springs, California, November 24, 2004.
“I’m honored to be included in this Hall of Fame,” said Nies. “I’m sure I speak for all entrepreneurs when I say that owning your own business is a huge challenge but whose rewards are infinite.”
Nies, once hailed by former President Ronald Reagan as “the epitome of the entrepreneurial spirit of American business,” was recognized for his lifelong success, which includes:
- More than $3 billion in revenue generated from a meager $600 start-up investment
- Nineteen straight years of generating more than $100 million in revenue – a feat unparalleled in the software industry except for Microsoft
Over the last three years, Nies has led Cincom to its best business-performance years ever through some of the most challenging economic conditions in the technology industry. Recent record-setting financial performances include:
- Cincom’s second most profitable year ever in 2004
- 2002-2004 were the three most profitable consecutive years in Cincom’s 36-year history
Tom Nies also has the distinction of being featured in the famous Smithsonian Institution as one of the “pioneers of the software industry,” alongside other industry giants such as Microsoft’s Bill Gates and Oracle’s Larry Ellison. (Visit http://americanhistory.si.edu/collections/comphist/nies.htm)
Nies started Cincom Systems, Inc. in 1968 with $600, a card table, and a dream. He grew it into a global organization that now serves thousands of clients on six continents, by providing clients with high-value, low-cost solutions that provide rapid returns. The results of that $600 investment? It’s generated more than $3 billion in revenue or $5 million of revenue for every dollar invested.
Original news release Palm Springs, California — November 24, 2004.