Affiliated Computer Services has cracked the ranks of the Fortune 500 for the first time on the strength of business process outsourcing. The Dallas-based company specializes in information technology outsourcing and, a fast-growing practice in which a company gives over control of tasks such as data entry, claims processing and billing. In the April 14 issue of Fortune, Affiliated ranked 488 on the list of the largest U.S. corporations, with revenue of $3.1 billion for the year ended June 30, 2002. CEO Jeff Rich said breaking into the Fortune 500 "serves as a testament to the growing importance of business process outsourcing and the continuing good work of our people."
Despite its achievement, Affiliated remains much smaller than other IT services companies in the Fortune 500. IBM, which has a large services wing, ranked 8th this year, while Electronic Data Systems ranked 80th and Computer Sciences ranked 167th.