Impending changes at invata international inc. should make the company, celebrating its 10th anniversary, a business to watch for the next few years.
President Andrew Marks says 1999 will serve as a springboard for the company. The first quarter, hell introduce a new product, SAMTRAK Internet Suite, which will integrate his facility maintenance tracking software across the Web, enabling clients to post online updates to request building repairs and equipment servicing.
We have prospective customers already writing us checks to fund the development of the product, he says, adding that one prospect, a pharmaceutical company he declines to name, could save millions of dollars the first year by rolling out the product at its 4,000 stores. In addition, invata is adding database support so clients with buildings in many locations can access all records from one site.
Marks is also laying the groundwork to move his product into Australia and other points abroadand has targeted for acquisition a handful of smaller companies with more focused niches, such as software to track air conditioning, elevator or plumbing maintenance.
Even with those investments, Marks expects 1999 revenues to roughly double to $3.5 million, reaching nearly $9 million in 2000.
In 1998, he nearly doubled his revenues for the second time in two years and has almost tripled his 12-person staff from 1997, setting a foundation for the changes and growth to come.
If invata is successful marketing its new products and developing international ties, look for it to exceed Marks sales projections and end the year with double the number of employees and a more urgent timeline to consider a new building.
invata international inc.
145 N. Reynoldsburg-New Albany Road, Columbus
Andrew Marks, chairman, president, CEO
Estimated 1998 revenues: Less than $2 million
Revenue growth, 96 to 97: 130%
Major clients: LaSalle Partners Management Services, CB Richard Ellis Inc., Metropolitan Life Insurance, Rite Aid Corp., State of Oregon, The Ohio State University