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ProfileInnuity is a publicly held, Software as a Service (SaaS) company that designs, acquires and integrates applications to deliver solutions for small business.
The company’s Internet technology is based on an affordable, on-demand model that allows small businesses to interact simply with customers, business partners and vendors and efficiently manage their business. Using Innuity's on-demand applications, small businesses can grow their revenues, reach and serve customers and run everyday operations.
Innuity currently has two operating divisions, Promotion and Commerce, each of which is focused on a critical business process. The applications and solutions offered by the Promotion division help small businesses market and promote their products and services, while the offerings of the Commerce division can facilitate and improve a small business’ selling processes and transaction processing capabilities.The company also partners with Industry leading companies to deliver additional services including Vcorp LLC offering Incorporation services and Synchro Funding offering short term financing.
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Technology FoundationInnuity delivers its small business information system solutions through its Internet technology platform – Innuity Velocity™. Employing proprietary technology and integration processes, the Velocity platform provides small businesses the opportunity to choose applications that are right for their businesses – individually or as an integrated package – with minimum initial start-up costs and maintenance.
With Innuity’s use-based pricing, small businesses pay a monthly subscription fee for the applications or transaction fees when they or their customers use the applications.
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Small Business MarketAccording to government statistics, there are over 24 million businesses in the United States with fewer than 500 employees. Market intelligence firm IDC predicts that while worldwide IT spending will grow by 6.6% in 2007, small to medium-sized business (SMB) IT spending will grow by 8.4% In this same time period, SMBs will represent between 50% and 70% of the potential market for IT vendors. IDC also sees an upward trend in 2007 towards increased selling of SaaS products to SMBs.
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Market ApproachInnuity approaches the small business market via three distinct methodologies:
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Private LabelInnuity enters into strategic partner arrangements with well-positioned, “market leader” companies such as Sam’s Club who private label Innuity offerings and sell them to their small business customers under their own brand.
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ISO’s and ResellersInnuity Merchant Services and selected Promotion Products are sold through Independent Sales Organizations (ISO’s) and third party resellers.
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DirectVia a direct sales model, Innuity sells integrated packages and popular individual products-services targeted at a business's “life stage” – that is, getting started, growth and profitability.
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