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Q: How
long does it take to complete a software application?
A:
Obviously, the amount of time necessary to complete a software
application will vary with the size and complexity of the
application. Development time can take anywhere from a couple
of months to several months, but before development starts we
need to complete the discovery and design phase. These two
phases are highly dependant on the client. If your organization
has supporting material (spreadsheet, data, etc.) that we can
review and reverse-engineer, this will aid in the discovery and
design phases. We price the engagement after conceptually
designing the application and we do not start development until
the client has agreed to the
pricing proposal.
We can usually supply clients with a rough development time
frame before development commences.
Q: How
would we know if software could be developed for our unique
challenge?
A: If
your challenge has anything at all to do with numbers or data,
then we can help. If your organization is currently trying to
meet your challenge by using spreadsheets, but you find that the
entire process is very time intensive and error prone then a
custom software application can make an enormous impact. Most
spreadsheet solutions that are used by more than one user are
ineffective as each individual has a different level of
spreadsheet proficiency. Spreadsheets are very powerful tools,
but they are also open environment platforms, meaning that they
are not intuitive and can be maliciously or accidentally altered
quite easily. If your spreadsheet solution must be shared, then
we can create a software application for your organization that
is bulletproof, regardless of size.
If your
challenge requires a lot of data processing, then we can create
the software solution for you. For a retail investment firm, we
created a software application that processed up to 50,000
market trades per day and completed all of the necessary
reporting with the click of a button saving the firm a massive
amount of time and money. We can create software solutions that
allow for easy data management and analysis as well as the
consolidation of disparate data sources within your
organization. Many times, there is no tool in place to capture
information within your organization. We can create the
software application that will capture and archive data that is
critical to your organization.
We
generally do not create software that controls machinery,
robotics or computer aided design (CAD), but you can discuss
those needs with us as well. If we can partner with another
developer to create your desired application or introduce you to
the developer that can help you, we will. In any event, contact
us to discuss your business challenge and we will show you how
we can help.
Q: When
referring to a software application, what does the term
“bulletproof” mean?
A:
“Bulletproof” means that the software cannot be damaged or
altered by anyone, users or system administrators, and is built
to anticipate future growth. Sensitive data stays secure, and
it is impossible to jeopardize the stability of the system.
Unlike a spreadsheet which is operated in an open environment,
our software applications control each action that a user or
administrator may perform through a highly-intuitive
environment. Spreadsheets can be easily altered or misused.
Q: It
sounds like I can personally make a lot of money from your
referral program. Where is the catch? Do I have to already be
an existing customer? Is there a dollar limit to how much I can
earn, or how many referrals I can make? There must be some sort
of restrictions?
A:
There is only one restriction and that is that you cannot refer
yourself and earn a kickback from your organization for engaging
us. We believe, as we are sure that your organization would
believe that such behavior is unethical. Other than that, there
are no restrictions. You do not have to be an existing client,
employee or alliance partner to earn the referral fee. Even if
you learned about our company and referral program through word
of mouth or through advertising, you are still eligible to earn
a referral fee. If you know a company executive or manager
either through your personal or professional life whose
organization could benefit from our customized business software
and you make the introduction, then you will earn 10% of the
initial engagement amount. It’s really that simple.
For
example, your best friend from college just happens to be a
manager of a retail brokerage firm in the investment industry so
you let him know about Insidus either by directing him to our
web site or by giving him some of our marketing material that
you may have come across. Your friend is interested and agrees
to contact us. You must explain to them how the referral
program works as they must supply us with your referral code
which you will obtain beforehand. If your friend’s firm engages
us, then you will receive 10% of the fees collected for the
initial engagement as we collect the fees. Make sure that we
have your most recent contact details for prompt payment to
you. If your friend’s firm makes additions to the software or
engages us on additional assignments, you are not eligible to
collect any referral fees for that work. Below is a simple
numeric example of how the referral program would work:
Initial
engagement amount: $100,000
Your
total referral fee: $10,000
Schedule
of payments:
January
1 – New client has engaged us and is invoiced 25% as an
engagement fee
February
1 – Engagement fee collected - $25,000
February
2 – We send you your 10% portion - $2,500
April 1
– Software is completed and client is invoiced remaining 75%
May 1 –
Fee collected - $75,000
May 2 –
We send you your 10% portion - $7,500
June 1 –
Client engages us to create an additional module for the
software – you are no longer eligible for any more fees
September 1 – Client engages us to create a new software
application – you are no longer eligible for any more fees
Once you
have collected 10% of the initial engagement amount for the
referred client, you are no longer eligible to collect any more
fees for that referral. You may however refer another client.
In fact, there are no limits to how many clients you can refer
and there are no cumulative dollar limits to how many referral
fees you may earn. If you can bring $1 million in new business
to Insidus, then you will have earned $100,000 for yourself.
Very large engagements can potentially put six figure dollar
amounts into your pocket. A full rolodex of executives or
managers can do the same, so keep Insidus in mind the next time
you are chatting with a potential Insidus client. If you are an
existing Insidus client, then take the opportunity to introduce
us to other potential clients within your industry at a trade
show, conference or through your own personal contacts. A
little word of mouth about Insidus could wind up earning you
quite a tidy sum of cash.
Q: If
Insidus is based in the Greater Toronto Area (GTA), then how can
you service clients all over the world?
A: We
are strategically located in the GTA because it provides a
business environment like no other in North America. The GTA is
home to the Canadian head offices of most global organizations
that do business in Canada. Since most large global
organizations do business within Canada, we have access and are
in close proximity to many of the world’s largest organizations
as well as large Canadian companies. If we have created
software for the Canadian subsidiary of a large global
organization and they are impressed and make an introduction to
their head offices in the US, UK, Germany or wherever the global
head offices might be located, then our relationship managers
will certainly travel to those destinations to service clients
abroad. Once we have concrete project deliverables, we can
communicate with the internal project owners through electronic
means throughout the development process, minimizing the amount
of time required for face to face meetings. In fact, we try
very hard not to monopolize our clients’ time because we know it
is in very short supply. Even if there are clients abroad who
do not have operations within Canada, we can service them in the
same fashion. Throughout the life of a project, much more time
is spend building the software than in face to face contact with
clients, so opening satellite offices abroad to service our
clients is not a good use of resources.
Q: I
see that Insidus has alliance partnerships set up with other
firms, particularly consulting firms. Does that mean that
consultants from another company will also be working on the
project?
A: Not necessarily. On most projects, we will not work with a
consulting firm, but there are certain circumstances that make
the involvement of consultants necessary. For example, if a
client wants a software solution to a business problem, but
there is currently no business process in place or the process
in place is severely flawed, then maybe a re-engineering of the
process must take place first. After all, it makes no sense to
automate a flawed business process. There may also be
situations where the true deliverables for a software project
must be flushed out with extensive interviews of employees
involved in a business process. For those instances, we have
formed alliances with consulting firms so that they can work
with your organization to re-engineer your processes or
determine project deliverables and required analyses. They will
in turn work with us to help develop the software application
and make sure that the application supports the business
process. You may obviously use any consulting firm that you
wish or none at all, but we do have a number that we can
recommend as alliance partners. There may also be specialized
knowledge of a particular industry that a consulting firm has
that would be beneficial in the creation of an application. For
instance, if we were engaged to create an application for a life
insurance company, then a consultant who has in-depth actuarial
knowledge might be helpful. Each engagement is unique, and the
client always has the final say in how we will proceed.
Q: How
do I measure the value that a custom software application could
bring to my organization?
A: Our
first advice is to read our white paper on the “Buy versus
Build” decision. This white paper touches on the pros and cons
of buying commercial off-the-shelf software versus building a
custom application, either in-house or outsourced to a third
party developer like Insidus. Before a software decision is
made, a financial analysis should be performed to make sure that
the benefits outweigh the costs. A software project is like any
other project. You should calculate the net present value (NPV)
and internal rate of return (IRR) of the project.
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