Headquarters: Saddle Brooke, N.J.
Founded: In 2000 in Chattanooga
Employees: 100 nationally; 65 in Chattanooga
Location: Occupying 14,500 square feet in SunTrust Office Tower
Source: The company
TractManager, a downtown Chattanooga contract management company, is growing its business as it expands both its footprint locally and reach nationally.
Located in the SunTrust Office Tower on Market Street, the company soon will take up two entire floors and increase its workspace by about 25 percent, said David Paschall, the company's senior vice president of finance and operations.
"We've been expanding rapidly," he said. "This is one more step."
The privately held business, founded in Chattanooga but now with headquarters in New Jersey, has grown to about 100 employees nationally over the past 11 years. That includes 65 in Chattanooga where it has most of its operations, Paschall said. TractManager has added five workers in the past couple of months, the official said.
Jeff Jennings, of NAI Charter Real Estate Corp., said TractManager is expanding beyond its 1 1/2 floors in the SunTrust building.
"It's a substantial investment by TractManager to stay and operate in Chattanooga," he said.
Plans are to expand the reach of the company into different business segments, Paschall said.
"We're making a big investment in software development," he said, declining to provide figures or sales numbers. "We could expand dramatically. We have deals that could add 10 employees."
The company has clients in all 50 states and is heavily involved in the health care sector, Paschall said.
"Health care has been our bread and butter, but we also have commercial real estate firms we're servicing now," he said.
TractManager controls hospital and real estate agreements online, storing files and making sure contracts are where they're needed, the company official said.
According to TractManager, it centralizes, monitors and controls contract management to reduce the cost of doing business as it aims to enhance contractual obligations and compliance and streamline workflow.
For example, Paschall said, that when a hospital's certificate of insurance is coming due, TractManager sets up a notification for the entity. It also works with hospitals relating to HIPPA audits or any other issue involving regulatory compliance, Paschall said.
"We do work hand in hand with the company," he said.
Helping the company has been EPB's high-speed Internet service, Paschall said.
"We're sitting on one of the main fiber outlets," he said. "It's a huge plus for us. It's a competitive advantage for the business. We really love Chattanooga. The work force we get out of UTC is a big benefit."
Jennings, who handled the TractManager lease with David DeVaney, said the SunTrust building only has one full floor vacant out of its 18. Jennings said that more than $1 million has recently gone into further enhancing the building.
Contact Mike Pare at 423-757-6318 or firstname.lastname@example.org.