Entrepreneur of the Year: Classroom idea evolves into successful firm for Edmunds
Sometimes the value of an education is not just in what is taught to students — instead, it is in the ideas that fire into being as a result of that teaching.
Take Adam Edmunds, chief executive officer of South Jordan-based Allegiance Inc.
The idea for Allegiance's voice of customer software platform came to Edmunds while he was an accounting student at BYU taking a class from Gary Rhoads, director of BYU's Rollins Center for Entrepreneurship and Technology.
That spark of an idea occurred during a discussion of opportunities surrounding the 2002 passage of the Sarbanes-Oxley Act, which enhanced standards for all accounting firms, company boards and management operating publicly in the U.S.
Edmunds decided there was potential in a Web-based service providing ethics training as well as a method for employees to anonymously notify their companies' top managers of wrongdoing. He called his company SilentWhistle.
Eventually, Edmunds merged SilentWhistle with Rhoads' firm, a comment-management software company called Allegiance Technologies.
The combination of feedback management and ethics reporting was a successful one, which Edmunds refined by selling off SilentWhistle to buy Inquisite, a highly regarded provider of on-demand survey software.
This consolidated the company's expertise on customer-focused buyers in the voice-of-the-customer market. The company offers real-time feedback systems for any firm's customers and employees that can quickly show Allegiance clients why customers are engaged and how to increase customer loyalty — thereby increasing profits.
- International tax competitiveness report: See...
- About Utah: Remembering the most brilliant...
- Q-and-A with Val Hale: a 'pretty...
- Dave Ramsey says: Time shares can limit...
- 'Five or six' possible sites for convention...
- How much of your paycheck do you take home?
- Why one inner-city kid didn't sell drugs to...
- Balancing act: Do you love your boss, or is...
- Customers wait all night, get new iPhone 6 5
- Rebate or tax credit? Clean air... 4
- Bus ads bringing thousands of dollars... 2
- Review: Larger iPhones eliminate reason... 1
- Guilty verdict in peanut trial should... 1
- NASA's Maven spacecraft enters Mars orbit 1
- Apple sells more than 10 million... 1
- Protesters stage Wall Street climate... 1