Pre IPO Swap
8/6/2019 -- New York, NY -- Pre IPO Swap has partnered with disruptive firm Transparent Business to tackle one of the biggest problems in Government and the Enterprise: Fraud and Overbilling. As the world transforms from bricks and mortar to online and virtual, fraud and overbilling is a growing problem with few solutions, until now. Transparent Business tackles this problem in a unique way, by installing a cloud based tool that monitors electronic activity in a non-invasive manner (they aren't recording all of your data, don't worry). It's low cost and can prevent multi-million dollar overbilling situations.
Here's a description of their product: Transparent Business makes every minute of computer-based work automatically verifiable. Save your state tens of millions of dollars by simply requiring state contractors to provide transparent verification of billable hours. The state will know the exact status and cost of every project and task, at any moment. Before Transparent Business, state auditors have had no tools to verify the accuracy of invoices based on billable hours. Many invoices for professional time have been paid based on the “honor system”, with some contractors “robbing the state blind”. Transparent Business gives state managers real-time information about the work performed for the state by programmers, architects, engineers, and other professionals, but does not intrude on their privacy. The tool is controlled by the worker, who can start and pause it whenever they wish, so only billable activity is documented. Transparent Business boosts productivity of billable time 15-40% by eliminating time wasters from the billing. We preclude contractors from billing the state for the time spent engaged in non-project related activity such as online shopping, playing computer games, chatting with friends, updating social profiles, watching funny videos, sending out resumes or even working for another client. The savings would come to the state at no cost to taxpayers, as contractors will bear the modest cost of complying, just like they have always absorbed other accounting costs. There’s also no risk, as Transparent Business is available from ADP, the largest payroll processing company and a component of NASDAQ and S&P. The proposed transparency requirement is not vendor-specific.
Their business plan is to create legislation that will mandate use of this product in Government, and not only in US. The best part about Transparent Business is the active management and dialogue of CEO Alex Konanykhin
, as displayed in his last email update, pasted here:
Last week, two shareholders independently of each other asked me why we are doing so much public relations, which made me realize that I had failed to articulate that as a part of our strategy to increase value of your stock, we are working on developing a recognizable, respected and valuable brand name.
Brand power is the main reason most companies chose Salesforce.com over competitors with better and less expensive CRM solutions, and Silvina and I like to make TransparentBusiness similarly synonymous with the category of Business Transparency, globally. The value of some brands goes into tens of billions of dollars. We are far from getting into those numbers, needless to say, but we have already made important first steps in making TransparentBusiness brand valuable. Anyone who googles us will find many mentions of our company, in publications around the world. Quite a few executives already tell us, “yes, of course I’ve heard of TransparentBusiness”, which is a big difference from the days where we had to start every meeting by explaining who we are and what we do. As we are just in our second round of financing, we seek the most cost-effective ways to boost value of our brand. Our objective is to assure that every $100K invested into brand development would increase the brand value of TransparentBusiness by at least a million dollars. Most of this work falls on Silvina’s shoulders. As another step in this direction, Silvina gave an interview to EFE, the world’s forth largest wire service. The report was distributed by EFE this past Saturday and has already been published in a number of publications internationally, including Hoy, La Vanguardia, El Confidencial and El Diario. More placements are expected throughout this week.
If you are an institution or Qualified Purchaser that is interested in Transparent Business see this page Transparent Business.