2023 Economic Impact Awards 1-10 Years in Business: TierOne Solutions LLC

Though TierOne Solutions LLC operates behind the scenes, its growth the past few years substantiates the telecommunications brokerage as high priority in the industry and for its clients.

At its core, TierOne is a technology advisory firm, and officials connect client service needs with vendors in its provider network. Think voice and connectivity services, which represent 65%-70% of its billing, and data and cloud services, which cover the remainder.

“We’ve always felt like we were a remote-work-enabled company,” says Richard Reding, a partner in the business with Steven Huxley. “COVID made it a driver. That was a shift that was happening, put on fast forward.”

The result was a doubling of total contract values in 2021 to set a company record of $21.5 million, which officials say was then matched in 2022. The reported annual revenue on those multiyear contracts was $3.3 million last year.

TierOne officials say being in the business of tech optimization usually results in budget savings for clients.

Reding says Burrell Behavioral Health reached out to TierOne for help updating its network for added security and performance. Amid Burrell’s rapid growth, Reding says the mental health provider was running into challenges and high costs getting fiber lines to its buildings in rural markets. He says the TierOne team worked with its providers to negotiate on Burrell’s behalf and get install  costs waived and the pricing down for the fiber circuits.

“Now, we’re able to offer that extra security without the handcuffs,” he says, noting the efforts save Burrell over $1 million a year.

O’Reilly Hospitality Management LLC is a client that Reding says TierOne has worked with since early on, and in that time, the hotel company has added 12 properties to its portfolio while keeping its technology contract costs the same or lower.

Amid its growth, TierOne leadership began an annual client appreciation getaway to Big Cedar Lodge. The firm’s top 40-50 clients, dubbed “TierOne Percenters,” are invited to an all-expenses-paid weekend retreat with excursions, nightly dinners and, new this year, industry educational sessions.

Internally, Reding says staff is rewarded with an annual paid trip to St. Pete Beach, Florida. It’s just the employees for the first couple days – for team and individual meetings – and then their invited guests arrive for weekend relaxation.

The company also added comprehensive dental coverage to its 100% employer-paid medical plan for staff.

“I’ve got two different types of customers that need to be taken care of,” Reding says of external companies and internal employees. “I try to view it like that.”