Tier Technologies

What is the origin of your company name?
Tier Technologies was founded by nine people from American Express and Texas Instruments with one thing in common: they all had expertise in Information Engineering. The name Tier originally stood for “ The Information Engineering Resource.” This name reflected the early strategy of the company based on providing IEF consulting services to commercial, government and international clients. After a few years the name was revised to be “Tier Technologies” to better reflect a broader strategy around providing expanded technical consulting.

When was your company established?
1991

Who owns your company?
Tier is publicly traded on the Nasdaq Stock Market (Nasdaq: TIER).

What is your main business focus?
Tier does two things, and we do them very well: We process transactions and we implement packaged software solutions. The transaction processing business generates approximately 70 percent of our annual revenues, and consists of three business units: Child Support Payment Processing, our Official Payments Corp. subsidiary, and EPOS. Tier is the second largest processor of child support payments in the U.S., processing more than 20 million child support payments valued at over $3 billion annually. Official Payments Corp. (OPC) is the leading provider of electronic payment services for the Internal Revenue Service, 22 states, and more than 1,500 local government clients nationwide. The recently acquired EPOS business unit is a leading supplier of state-of-the-art interactive communications and transaction processing technologies. Our packaged software and systems integration solutions business contributes approximately 30 percent of our annual revenues.

Who are your primary customers?
Tier targets public-sector clients that utilize emerging technologies to improve their operations -- primarily federal, state and local government customers, educational institutions, and utilities.

What sets you apart from your competitors?
Tier is a company that is highly reputable. Principles matter to us, in terms of how we treat our clients and our workforce. We tend to gravitate toward people who want to take on challenges while providing the vehicle for them to grow within the company.

Where do you see your company in five years?
In 2003 Tier developed a new strategic plan designed to drive growth over the next seven to ten years, and to establish Tier as a leading provider of transaction processing and packaged software and systems integration solutions. The plan involves exiting underperforming or non-strategic operations, which we’ve completed; aggressively pursuing new business opportunities within our two service offerings; continuing to develop value-added horizontal offerings for our current lines of business; and, developing new business lines within our two service offerings through internal development and/or targeted acquisitions.

What are the advantages of your Fairfax County location?
We recently relocated to Reston from Walnut Creek, California. Our new Reston location not only provides us with access to a world-class talent pool of employees, but also reduces our costs. Given our high concentration on government clients, Fairfax County is an excellent location as we look to continue to grow the company. We’re looking forward to becoming part of the Washington-area business community.

Where is your company located (address, phone number, web site)?
Tier Technologies, Inc. 10780 Parkridge Blvd., Suite 400, Reston, VA 20191, (571) 382-1000, www.Tier.com