MUNCIE – Homegrown software company Ontario Systems has announced not only revenue growth but an expansion of its workforce.
The company increased its workforce — now at about 300 people, three quarters of them in Muncie — by 12 percent in 2014 and saw a 30 percent increase in revenue in the healthcare market. Ontario's products include accounts receivable software for health systems across the country. In addition, Ontario said 80 percent of its revenue came from recurring sources.
Ron Fauquher, Ontario Systems' CEO and, along with Wil Davis, co-founder of the company in Muncie in 1980, said the company benefited from changes in the health care industry.
"We have indeed been fortunate to benefit from major demographic and economic trends that have seen rising accounts receivable in healthcare, student loans, utilities, telecom and retail sectors," Fauquher told The Star Press in an email interview. "In addition, the rise of the Affordable Care Act, Dodd Frank legislation and more stringent enforcement in HIPAA rules have fueled rising compliance needs across all of our client base and the increasing need for data security and consumer privacy have all continued to bring business to our door."
The company's success can also also be attributed to its workforce, Fauquher said.
"Our people," he said. "They are everything to us and they come from this community. They in every sense are our greatest asset."