These days businesses can't survive unless they know what their precise financial situation is, the founder of a new software company in Orem says.
"One reason small businesses fail is because they don't know that information," said Greg Baker, chief executive officer of Adonis Business Systems International. "Instead it is usually classified as poor management."Baker, an Australian native, has created an accounting software program that allows a business to check accounts such as receivables and payables, payroll and purchasing in a matter of seconds to see where the company stands financially.
Baker recently moved his Australian business to Utah County to tap into what he calls "the biggest marketplace in the world for this kind of product.
"I wanted to move into the U.S. marketplace, but not in California. I didn't like the lifestyle," he said. "Utah offered a better lifestyle."
With large computer companies like WordPerfect and Novell in the area, he said the opportunities for growth are great.
"It makes it easier to find investment funds because you can point to them and say, `That's what I want to do.' "
Baker moved to Utah in August and brought his 10-year-old company with him - at least the product. At one time he considered bringing some of his employees to America with him, but decided instead to employ locals.
"There is a tremendous amount of talent in the valley coming from Brigham Young University and Utah Valley Community College," he said. "This state and county have a fair amount of potential. I would say that this is the Silicon Valley for computer software."
Baker's Australian company, known as Datalynx, has joined with Adonis Corp., a business consulting firm run by Richard Logsdon, Baker's brother-in-law. Adonis will now be a business systems company with emphasis on computer software.
After two months in operation, Adonis has grown to 15 employees and is moving into a new office next week. That office is 3,200 square feet, more than four times larger than the present facility.
Baker said they hope to bring employment up to 25 during the first year and then double it yearly for at least two years.
Datalynx, located in Camberra, Australia, peaked with only 18 employees. But he said Adonis will use a new marketing approach.
"Down there we did specialized jobs that took time and money. We will do some here, but we will also market the product in a mass market arraignment."
The product is successful because of its flexibility, he said. Because no two businesses are alike, it can be tailored to what a business needs.
Traditional receivable accounts are usually 30-day accounts, but with high interest rates many business can't afford to tie up their money that long. With the software, companies can choose seven-day, 14-day, 30-day or 120-day accounts.
Adonis is working with a nursery in the valley to help them track the costs of producing a plant, i.e. cost of seed, soil and fertilizer.
The business software is still unnamed, but so far it is known as Business Genie, Baker said.