TracMap NZ Ltd has been named one of fastest-growing companies in New Zealand, being listed as the eighth fastest growing company in the Deloitte Fast 50 awards.

TracMap is a Mosgiel based award winning business and is New Zealand's largest provider of GPS technology to the agricultural sector.

To make the Fast 50 list this year, TracMap was able to demonstrate a 560% revenue growth over a three-year period between 2007 and 2009.

Grant Gibson, General Manager of TracMap said the Deloitte Fast 50 award provides recognition for the team during what has been a tough time economically for the agricultural sector.

"We are fortunate that we have a strong team who compliment each other and have worked hard to grow the company. Our growth has come from having awareness of our strengths, and growing market share by delivering excellent products with strong customer support."

TracMap has managed its growth by maintaining a focus on core markets particularly the agricultural market within New Zealand. Despite the tough economy, demand has continued to grow for the TracMap guidance systems and proof of placement packages for vehicles in this market.

TracMap has continued to invest in development, with the release of a new system in June 2009. The TM2 has been developed to provide a solution that is flexible enough to cater to a number of markets. In addition to providing new features to the agriculture sector, the new guidance and mapping system provides productivity gains for infrastructure servicing and utility companies.

This new system is attracting strong interest as it reduces risk and provides reporting in a simple to use package. An example of the application, the system is being used for include roadside spraying, with the recording of applications and display of target areas and no spray zones on screen.

In addition to the land based GPS system, TracMap has developed an aviation system, which has been the source of recent expansion into overseas markets including Australia, Canada, Bulgaria, Russia and the USA.

TracMap is a 100% New Zealand designed and owned business, which has expanded from a staff of 2 in 2005 when product development started to a team of 16, based in Mosgiel and New Zealand wide.

Entry to the Deloitte Fast 50 was open to New Zealand registered businesses operating for at least three years. To be eligible for the award, businesses needed to show a minimum revenue of $250,000 in their first year and a minimum of $500,000 in their third year.