TPi Billing Solutions Grows,
TPI SMILES: Celebrating the success of TPi Billing Solutions are, from left, Mickey Thompson, former senior vice president, Tulsa Metro Chamber and now the economic development director for Bixby; Tracy Bolding, TPi’s chief financial officer; Bill LaFortune, Tulsa mayor; Jennifer Thompson, TPi’s director of corporate communications; and Ray Thomas, TPi’s president and CEO.
GTR Newspapers photo
For the second year in a row, a Tulsa company has made Inc. magazine’s list of 500 fastest-growing private companies in the U.S. TPi Billing Solutions, a provider of invoice production, customer service, accounts receivable management, and collections, had a five-year sales growth of 612 percent and ranked 295 on the list, according to Inc.
The Inc. 500 Special Issue appeared on newsstands October 20 and will be on display until January, 2005. Inc. is a nationwide magazine for privately-held businesses. This is the 24th year for its Inc. 500 listing.
TPi also announced the addition of 30–50 new jobs within the next year and 100 new employees over the next five years as a part of the company’s continued expansion.
“Currently, TPi’s 75 employees spend or save $2.6 million in income annually, and support 63 additional jobs throughout the Tulsa MSA. The total income impact on the economy of one year’s operation at TPi is $5.2 million,” says the Chamber’s Economist Bob Ball. The addition of 50 new jobs over the next year will extend a year’s operation to support 105 additional jobs in the economy, a total income of $21.4 million, and a total income impact of $48.5 million.”
Ray Thomas, president and CEO of TPi Billing Solutions, credits the company’s phenomenal growth to the service provided by the company’s approximately 75 employees, both on the front lines and behind the scenes.
“To make the list a second time is perhaps a more difficult task than the first,” notes Thomas. “We are able to maintain our growth and be where we are today because of outstanding people who are committed to our philosophy of focusing on outstanding service.”
Thomas said he thought the Inc. recognition was the perfect time to announce plans for the addition of new jobs due to the company’s recent entry into the medical billing industry.
“Our continued growth is a testament to our commitment to quality,” he said. “Today, I’m proud to say our plans of supporting a larger operation coming to fruition.”
“Today’s announcement is significant in our region’s economic development efforts and reflects the spirit and commitment of TPi as they continue a tradition of growth and investment in Tulsa,” says Jay Clemens, Tulsa Metro Chamber president and CEO. “TPi is well-positioned in their marketplace with a prominent customer base and we are fortunate that Tulsa serves as its headquarters and operations center.”
Originally formed to provide billing services to rural telephone companies in Oklahoma and Arkansas, TPi diversified in the 1990s to meet the changing needs of the telecommunications industry. Using its original invoice production platform, the company expanded into the related customer service and collections fields.
Today the company has three primary divisions of business: invoice production, customer contact center, and collection center. TPi’s customer base has diversified as well, now encompassing medical billing, non-profit organizations, financial services, cable television, utilities and municipalities, among others.
The company’s largest customer is AT&T, for whom TPi provides services for customers in 44 states.
The Inc. listing ranks privately held companies according to sales growth over the past five years. Over the years, companies receiving recognition have included Microsoft, Timberland, Morningstar, E* Trade and Domino’s Pizza.
Editor’s note: For more information on TPi, visit www.tpibillingsolutions.com. For information on Inc., visit www.inc.com. TPi was founded by Thomas’s father and brother, Roy E. and Don Thomas, respectively, in the mid-1960s. Ray Thomas took over the company in 1991. His daughter, Tracy Bolding, joined TPi in 1994 and is the company’s chief financial officer. Rik Thomas, Ray’s son, came on board in 2003 to open and operate the Atlanta office. TPi also operates an office in Austin, Texas.