Bob’s Ramble: Full Speed Ahead

bbSometime early in my career (a long time ago), I was educated that products and businesses are a lot like life – they either grow or die. The analogy was powerful, as the consultant I was dealing with showed me the product life cycle curve (Figure 1) and pointed out that plants, animals, products and many companies have life cycles that match this curve. One scary note is that this curve can end up in a steep decline – as products, like plants and animals, typically do not last forever.


So, how do companies extend their products and their own existences and avoid the dreaded “Decline?” Through innovation (ex. product enhancements, new markets), good consistent strategy, acquisitions and persistence. Product innovation can add new, usually smaller, life cycle curves to existing growth and extend the upward climb of revenue associated with a product and/or company (Figure 2). For example, in the past few years Invoice Cloud has added SMS Text messaging, Pay by Text, Online Bank Direct (electronic conversion of online bank checks), recurring scheduled payments, a new User Interface and Account Linking to enhance and continue to extend the product. These enhancements have mainly been in response to Client requests – so you, our Clients, have effectively extended Invoice Cloud’s growth and continued upward trajectory. We greatly appreciate it!


Invoice Cloud is still very early in its growth cycle (before maturity). At the end of 2009, Invoice Cloud had a handful of clients and was just embarking on the Government and Utility verticals. Today, we have over 800 clients in those verticals and over 2000 Healthcare clients – all in the US. Invoice Cloud’s organic revenue grew by over 50% over 2015 and much of that growth came from new customers paying existing Clients by using the Invoice Cloud service (adoption growth). Our year over year growth, including acquisitions, was over 100%. We plan to continue to provide the best Electronic Bill Presentment and Payment solution in our existing vertical markets by innovating in response to your suggestions and requests. We are also moving into adjacent markets with the existing platform (ex. Insurance Billing) and are always searching for smart strategic acquisitions with great leaders who can help us continue to grow. Thank you very much for helping us grow and for your continued support!

Lastly, how about them Pats!