
CORPORATE PROFILE
INTRODUCTION
Internet Resources Corporation was founded in 1990 with the acquisition
of staff from a 10 year old integrator that specialized in Unix applications
and database systems. This group provides the capabilities to offer
mission critical application consulting, design and development services
in the PC LAN/WAN marketplace.
Internet provides consultants with in-depth experience in a variety of
today's major new LAN technologies. Among these are:
- SQL Relational Databases
- Distributed Databases
- TCP/IP & Novell Networking
- E-Mail Enabled Applications
- C and C++ Programming
- CASE Development Methodologies
- 4GL Tools and Techniques
- GUI (Windows) Programming
- Communications Programming
- Cross Platform Management Tools
- Internet Connection Services
- Internet Training & Consulting
PRODUCTS
Professional Staff
Internet distinguishes itself as a provider of professional computer consulting
services through its unique mix of client management, project management
and staff training through early access to new technologies. Professional
services are provided on an hourly or monthly billing basis. Employees are
incented to maintain their competitive value by tying their compensation
directly to their collected billings. This practice has several significant benefits
for the staff, the company and the customer.
- The caliber of the staff is maintained at optimum levels. Only the best
qualified professionals can keep up the pace with today's technology which
is required to keep higher billing rates. (The average Internet Consultant
has over ten years of industry experience.) Additionally only those that are
extremely confident in their abilities will even chance their livelihood to this
type of compensation.. This confidence is essential for a high level
consultant to be effective the multitude of clients and industries which we service.
- The company's payroll expense is directly tied to the revenues received.
This minimizes cash flow strains due to late client payments or other collections
problems. Additionally, the company's collection efforts are simplified because
the client has been constantly updated on costs for professional services and
generally want to make sure that the Internet consultants working for them are
personally satisfied. Further, a good job by the consultant with high customer
satisfaction makes it easier to maintain and increase either the billing rate or
the billable time.
- Since the employee is keenly aware that their personal pay is impacted
by the customer's payment for services, the customer receives realistic estimates
with which to plan, and the employee self-monitors any potential problems prior
to the expenditure of professional efforts. This built-in project management
increases customer satisfaction and decreases write-offs due to misunderstandings.
The staff is further incented to consistently review and appropriately
use newer tools and technologies that will better help our clients implement
their applications. Through its long standing in the Client-Server marketplace,
Internet is constantly asked to help Alpha or Beta test new products directed
at this market. The company funds the training often required to qualify for
these early product evaluations. As new client requirements present themselves
these technologies are incorporated where it makes sense, and after Internet
has detailed understanding of the new product's capabilities. This practice
has two major benefits:
- The trick to keeping qualified, intelligent individuals in this kind of consulting
practice is to pay them well, and then give new things to learn and use. The
more of the latter, the less of the former will be required.
- Corporate clients are often pressed to deliver an application and don't have
time or the experience to address all of the new products. When a product
will satisfy their requirements, they need experienced, qualified individuals
to implement these. The newer the technology, the smaller the supply of
qualified consultants and consequently, the higher the perceived value.
A side benefit to this practice is that the vendors of these products are often
themselves strapped for resources to support them. They therefore are
generally happy to be able to direct a prospect towards Internet, whom they
know to be highly professional - it helps them make the sale.
RESALE PRODUCTS
Less than 20% of Internet's revenues are derived from resale of third party
products. This policy has been maintained primarily to minimize the cash
flow strain required to support less profitable sales. Internet does not resell
any commodity items such as PCs, printers or other products of that type.
However, specialty products such as development tools, database managers,
cross platform interfaces and management tools, that are not available through
general distribution have been resold. The added benefit to this kind of sale
is that the client gets to see Internet's expertise during the installation and
training associated with the product, and often this promotes the sale of
additional services.
CLIENT BASE
The Internet client base is centered around the New York Metropolitan
Area but stretches from Boston to Washington, DC.. It includes small
to medium sized organizations but has been moving almost exclusively
toward large corporations over the last two years. These clients
represent a broad cross section of industries and the applications
Internet has installed range from standard accounting systems to
satellite transmission control systems. The common thread across the
client base is that they needed to integrate a relational database
across multiple computer environments. These clients, include:
- American Foundation for the Blind
- Air & Water Technologies
- Bell Atlantic
- Time, Inc.
- New York Power Authority
- Viacom International
- Home Box Office
- Pepsi Cola Company
- Texaco
- Swiss Bank
- Showtime Satellite Networks
- Macmillan Publishing
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BRIEF FINANCIALS
1992
1993 (Projected)
1994 (Projected)
Sales
$890K
$1000K
$1500K
Assets
>$170K
>$250K
>$450K
Liabilities
<$30K
$50K
$150K
Current Ratio
4.6
3
4
FUTURE PLANS
With its client base spreading, Internet has determined that additional
facilities will be required to maintain the appropriate levels of response.
Internet will open new facilities in Westchester County by the fourth
quarter of 1993 and will probably add an office in Central New Jersey by
mid 1994. A distinction about of these facilities is that they will also serve
as Hubs to The Internet network. This has not been cost effective in our
current facilities, and New York City is already well served by other
providers to the Internet. However, neither of the planned new locations
have good alternatives for general corporate or personal access to the Internet.
Further out, Internet will consider offices in Boston and other locations, as
the client population and cost structures dictate. New products and
technologies are a continuing focus of research and development efforts.
As these indicate potential value for Internet clients, and leverage the
technical expertise of its staff, they will be incorporated into future marketing
efforts.
INTERNET RESOURCES CORPORATION
1120 Avenue of the Americas, 4th Floor, NY 10036
212 626-6886 FAX 212 626-6887