"....speaking of competition, there is only a couple real competitors globally, all small, they have actually contacted IAM already... asking for IAM to acquire them....
which brings me to the strategy in that they are looking to acquire any competition in the market.
they want to *dominate* the space, MF stressed this word specifically and unequivocally.
in January the lease for office space is up, they are using the opportunity to possibly relocate or dual locate in Sabu, also due to a 6 month issue where by they must use an intermediary to operate a business in the country who takes a 20% cut on wages, they effectively save 20% by getting over that 6 month period by which they can operate without that middle man. big deal short term in regards to outgoings i guess. no sweat in the scheme of things.
they have out grown their office and need more space. they are hiring at this stage 20-30 employees per month, specifically with sentry rolling out.
i repeat, sentry are paying full retail from the get go which starts as soon as they hire the employee which just happened, so hopefully in the next few weeks.
KLIP is COMPULSORY and cost's 10% on top of their other services. obviously showing it's importance in this space.
Not sure if i mentioned they are absolutely looking to take their services INTERNATIONALLY.
MF's words, to the effect "UK, US, etc ALL face the same issues australia does with rising costs/wages and IAM is the solution" it's my understanding that they have recognized this and created the software and business in such a way that it can be integrated to those markets as well as our own.
although they may call them different things, they have advices / statements that broadly match our own and that the idea for IAM is to be able to be deliver a service to other FP/FS markets.
They are not charging for Lilly at the moment.
the new MOU #2 is close, and it's a household name, way bigger than sentry.
MOU #2 issues have basically been in the time it takes going through the hoops getting it to board, they have done all the hurdles, it's just having the board look it over in Decembers meeting. the next meeting is in February.
MF is in india for MOU #2 specifically at the moment. **(6 wks ago)
BIG 4 see it as very advantageous that IAM has a footprint in India, while at the same time not being geographically locked to anywhere. on a personal note, MF is really a genius.
on a not so positive note, questions were asked re: failure of attracting big fish. answer :
medium and small fish will still easily achieve M1-4.
profit is expected FY2017. ... boom.
they are supremely confident in MOU #2 going through, if not December due to things out of their control (MOU #2 board) then in Feb when it's looked at. PC stressed on both sides their is significant interest to make it happen......."
" .... Currently there is no competition,
the likes of large BPO giants like GE Capital, IBM, Accent, WIPRO want to enter the Australia market but their mentality as big copmanies is to expand via acquisition but there are no such company to acquire.
IAM would be the first.
Also, these large companies do not offer solutions tailored to the clients that require it but they have set processes that they would be fixed on implementing which is totally opposite to what Intiger Solution offers.
IAM wants to become expert in financial planning and dominate this industry and eliminate any competition through controlling of the resources...."
