The annual Smart50 awards acknowledge Australia’s fastest growing SMEs and shine a light on influential and successful entrepreneurs. The list of 50 companies is ranked according to overall revenue growth over a three-year period. To place on the list, companies must have recorded revenue of more than $500,000, and achieved revenue growth, during the past three financial years.

“Many of the businesses in this year’s Smart50 recognise the fundamental importance of a workforce built around investing in people and culture,” says SmartCompany editor Eloise Keating.

Shoal placed 32nd based on a submission which reflected the success of model-based approaches to complex problems which resulted in design solutions a client could trust.

Model Based Systems Engineering (MBSE) is a world’s best practise discipline in leveraging relational datasets and models in software to describe and design a system that comprehensively considers the political and social contexts, with over twenty-thousand integrated sub-systems.

Having fully adopted a model-based approach in 2007, Shoal has applied this framework to more than 75 large, complex and technology-intensive projects. This includes human-kinds most complex creations, from submarines, warships, satellite communication systems, transportation systems, and organisational level planning for one of the world’s largest hedge funds.

Zoe Dattner, publisher of SmartCompany, says the companies to top this year’s Smart50 Awards provide strong examples of adaptive business models that reflect the demands of an evolving workforce.