iVEDiX Mobile Product Boosts Growth
With the launch of its new mobile product, business intelligence company iVEDiX Inc. has established a global presense while increasing its number of clients and sales by 25 percent.
The Pittsford company has spent three years connecting traditional business data with new technology, producing time and cost benefits for major local companies.
Two years ago, iVEDiX developed business intelligence technology for the University of Rochester’s central utilities and energy management department. The technology helped the department save 80 hours a moth in gathering electricity and water usage on the campus.
Its new product, miVEDiX, takes the technology it has provided to companies such as UR and Wegmans and mobilizes it via an iPad application. The product gives users constant access to data such as inventory numbers and sales figures, and the ability to integrate traditional business intelligence data with GPS, social media, 3-D visualization tables and other technologies.
For example, a Wegmans manager with an iPad could walk through a warehouse, gathering inventory data, creating tables and updating the warehouse’s entire computer system, without having to go back to a desktop computer.
Mobilizing iVEDiX’s business solutions was the plan for the company from the beginning, said CEO Rajesh Kutty. Prior to founding iVEDiX in 2009, Kutty worked for Pennsylvania business intelligence company arcplan inc. Before that he spent eight years working on global data warehouse web development for Eastman Kodak Co.
So far miVEDiX has generated the most interest in the retail, healthcare and telecommunications industries. Kutty said the application gives managers and executives in each of those industries the value of real-time, mobile access to things such as inventory, analytics, records and churn.
“It gives them the ability to gather and compile data like they never have before,” Kutty said. “What the economic collapse in 2008, the need to be aware of all your data and figures in real time is getting much more significant. Not only does it benefit the company, but it’s reassuring to the company’s customers as well as the transparency and accountability factor goes up.”
Kutty would not give specific revenue figures or client numbers. But he said both were on pace to grow 25 percent by the end of 2012, thanks in large part to an increased global interest in miVEDiX.
The company recently announced a partnership with Middle East telecommunications provider VIVA Bahrain, a subsidiary of provider VIV bahrain, a subsidiary of Saudi Telecom Group, to provide VIVA’s business customers with iVEDiX’s products.
Ulaiyan Al Wetaid, CEO of VIVA Bahrain, said he expects that iVEDiX’s technology will prove valuable to VIVA’s customers seeking more advanced data warehouse products and will increase overall customer satisfaction at VIVA. Kutty said iVEDiX plans to open an office in Bahrain within the next month, hoping to generate more intrest in the Middle East.
“We ventured out to the Middle East last year as a testing ground for us, to see if the market was ready for miVEDiX,” Kutty said. “We knew there was an appetite for the technology, but the feedback we got was even more overwhelming than before.”
iVEDiX has 25 employees, most in Pittsford. Kutty said he expects the company’s employee count to increase swiftly at the start of 2013, pulling most of its new hires from the Rochester area.
“We’re a young company and have had to rely on the local universities for a good portion of our talent,” he said. “The area talent pool has been very good, and we plan to look for recent Rochester grads once again to help our company grow even further.”
“A year ago, I think companies were still trying to catch up to what we’re doing with miVEDiX,” Kutty said. “Now a lot of them have caught on. We’re doing something that really hasn’t been done before in the business intelligence industry. It’s 2015, 2016 vision brought of life way before anyone could have imagined.”