The Company 's Invoice Automation Solution Essay

The Company 's Invoice Automation Solution Essay

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I. History
TEOCO was once an S Corporation known as the Strategic Technology Group founded in 1994. Their focus from the beginning was to offer high quality consultancy for IT projects. Their first clients were Mobil, Siemens, Cable and Wireless, SRA, TRW, and Freddie Mac. Operations began in April 1995 and the company changed their name to TEOCO(The Employee Owned Company) by March 1998. (Strategic Management, 2015) Once the number of employees increased and rose passed 75 TEOCO could no longer be considered as an S Corporation and had to change its status to a C Corporation.
In three startups, TEOCO invested a large amount of capital in netgenshopper.com, Eventrix.com, and Appreciateyou.com. However, none of these ventures proved to be successful. In the year 2000, TEOCO recorded their first financial loss. By 2004, they patented XTrack technology that represents the core of the company 's invoice automation solution. TEOCO gained 24 employees through acquiring Vibrant Solutions in 2006. TEOCO acquired Vero systems and gained an additional 36 employees in 2008. TEOCO currently has over 300 employees and a portfolio of three activities that consist of: cost management, least cost routing, and revenue assurance. (Strategic Management, 2015)
II. Internal Environment
Atul appears to be a very busy man. Although TEOCO has a Human Resources director, Atul serves as the Chief Officer of Human Resources along with his other position in the company.
TEOCO 's internal market is a very interesting one. In the beginning employees could only buy up a certain amount of shares. However, that became difficult for the employees to do because the price of the shares kept rising. To accommodate this, TEOCO limited the dollar amount that co...


... middle of paper ...


...e position of General Manager of the Telecom Business Unit. John has his own set of skills that focuses on client relationship and creativity. (Strategic Management, 2015)
Additional Board Members with expertise in the telecom industry include: Gabriel Battista, Brian J. Conway, Hythem T. El-Nazer, and Robert J. Korzeniewski.
VIII. Recommendations
TEOCO should continue doing what it is that they do. Employee recognition and ownership are important to their current workers. Atul should continue to seek positive outcomes from TTI and TA. Profits will arise as will the success of TEOCO and the reputation it has gained with their employees and the views from those outside. More companies should treat their employees as Atul does and view them as an assets to their company 's future instead of the typical employee that comes in everyday without higher up recognition.

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