Selects and multiselects fields work this way:
If you have a small number of records (I think it is 100 but this can be changed by admin) it will behave like a normal select showing in the dropdown list all options. The same is true for multiselect. However if you have hundreds or thousands of records then scrolling through all options will be difficult, besides imagine the performance hit to load a selection of 10,000 companies to choose from. Therefore EPESI automatically converts any list with large number of records to autoselect, which is AJAX query and returns only matching records.
When you type in search criteria you can use partial matches - for example to find "Jan Kowalski" you can type "j ko".
If you have many companies with the same name like:
ABC
ABC
ABC
ABC
ABC
then typing "abc" will return all of them. You need to somehow make them unique, for example:
ABC
ABC Philadelphia
ABC New York
ABC Boston
ABC LA
Then you can type: "abc p" and this will return "ABC Philadelphia"
Also - the order is irrelevant - you can type "llc tel" or "xus" to find "Telaxus LLC"
Just try it.