- ContributedInfo Exchange Chief Executive Officer David Allen, left, discusses Internet Business matters with Julian Spence of Integrated Security Systems and Neil Williams of Moore Business Forms.
INFO EXCHANGE, a four-year-old Web development business that started with simple Web site development, can be regarded as one of the most impressive success stories in Jamaica's growing Internet technology industry. In terms of revenue, the company has already doubled its inflows for the first quarter of 2000, compared to what it did for the entire 1999 calendar year. Projections are that, for the remainder of 2000, the company will again double what it has already achieved in the first quarter of the year.
The company's client base of over 50 includes large entities in both the private and public sectors and is at least a part of the reason for the phenomenal growth. The list includes Jamaica Money Market Brokers' (JMMB) for whom the company has re-engineered the back-end of JMMB's business systems so that the money management company is now experiencing increased efficiency levels of between 300 per cent and 2000 per cent at various fund management levels.
Other clients include Cable & Wireless Jamaica for whom Info Exchange has developed an on-line Telephone Directory, among other IT-related processes that include their messaging systems; JAMPRO'S Jamaica Trade Point Portal; J. Wray & Nephew Ltd.; National Commercial Bank; Jamaica Drink Company; the Institute of Jamaica; Airports Authority; and JAREALTY a fully Internet-based real estate entity that offers service to real estate companies, building societies and other connected business interests.
But also sharing the credit for Info Exchange's success is the fact that it has mapped out a business strategy that shows more than passing respect for the rapidly-changing and volatile nature of the sector in which the company operates. The company applies to itself the same advice it gives its clients: Put systems in place that will allow you to adjust efficiently as your market adjusts.
Info Exchange is in fact far advanced in its creation and use of a Knowledge Management (KM) solution in its own operations. The company's CEO, David Allen, says that the process involves not only the integration of a number of technology systems with the company's human resources, but strict attention to the honing of a corporate culture that reflects the organisation's strategic positioning. To date, solutions that are being employed to foster KM at Info Exchange include a Virtual Private Network that allows employees to work from anywhere in the world; a Customer Management Solution that permits any employee to view and manage customer interactions and details; and a Project Management System that facilitates simultaneous management of multiple products, as well as a series of other duties such as task and cost management. That latter system will also allow customers to get timely feedback on the status of their projects via the company's web site.
A Training and Library Management Solution is also to be put in place within the next four months at Info Exchange to manage the company's information resources. This will provide the knowledge base upon which new and existing employees may participate in self-paced learning. "The result of all this should be an important reference for our customers, as well as a showpiece for Jamaican industry and the rest of the Caribbean," Mr. Allen says.
Another part of the company's business strategy is the targeting of "progressive" corporations in the public and private sectors. According to the Info Exchange chief executive: "Those organisations are more aggressive and can therefore deal more effectively with the stresses of the economy. This is important when quick decision-making is vital...because you have to be able to spot the opportunity out in the market and respond expeditiously. How can you do that? By having efficient technology systems in place internally," he says. Still, he is quick to point out that not all larger companies are towing the line noting that some are still "technologically inept".
Also guiding its business strategy is the decision to keep pace with changes within the industry by diversifying the range of services and products the company offers. From its initial position of functioning primarily as a web development company, Info Exchange now concentrates on providing solutions via the integration of back-end delivery systems to ensure the desired web results.
Facilitating this expansion has been one critical policy commitment - that of ensuring that the talent employed to the company is of the highest calibre. Info Exchange's growth has therefore reflected this commitment - expanding from a small sales staff, to a 16-member staff complement that includes members of the company's consulting arm, as well as its strong programming department. The company's human resources now includes employees at the Masters and Bachelor's levels and/or who hold MCSE, CNE, CCNA and MCP qualifications. Importantly, they all understand business processes and technology and have brought this to bear on the solutions they design for clients. It was on the basis of the extent of the qualifications housed within Info Exchange - as well as its proven skill in Windows Technologies that the company was granted Microsoft Certified Solutions Provider status earlier this year.
Yet another element to the company's development strategy is the provision of Data Security Information Management. "As you develop your company via the web, security of your information is going to be critical," Info Exchange's Chief Information Officer Undel Williams says. According to Mr. Williams, a recent study revealed that over 70 per cent of all electronic theft are internal...and the effort to make companies more secure provides an obvious growth area for Info Exchange to tackle.
Additionally, he says the company is poised to become the IT consulting house of choice, focusing on web solutions. He explains: "We have shifted our focus to more of what we call e-volution - a concept that may be defined as one that has prolonged periods of calm, punctuated by periods of rapid change."
