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TWST: May we start with a brief company introduction along with a short
history?
Mr. Maiocco: The company was incorporated in November 2000, and
commenced operations in the first quarter of 2002. The company spent
three plus years in product development and introduced its first
commercial product in Q2 of 2005. We have been distributing and selling
product just over a year now. The company was built on the vision of
delivering IT-management solutions through a Software-as-a-Service
(SaaS) delivery model. So the entire company and all its intellectual
property started day one with that mindset. We are not trying to glue
together different pieces of software and make it work in a hosted
fashion. Rather, we actually have built the architecture bottoms up as
to facilitate a SaaS delivery model. TWST: What is unique about your delivery model, namely SaaS?
Mr. Maiocco: The big difference between enterprise software and
Software-as-a-Service is the fact that companies do not have to make a
capital investment in hardware or infrastructure for enterprise
software. There is no upfront cost. Secondly, we deliver enterprise
class capabilities as traditional software, but without major
implementation challenges or investment. As a result, customers get
speedy access to an easy-to-use Web-based application within 30 minutes
of registration, versus a three- or six-month deployment that is
prototypical of enterprise software. And the third component is that the
SaaS architecture is designed to provide all of the ongoing maintenance,
upgrades and support for a client. So a client is not absorbing those
ongoing costs, but rather benefiting from a service through a
subscription model. So you simply start paying on a month-to-month
basis.
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