Interactive Brand Development Inc. (IBDI) and its subsidiary, payment processor Internet Billing Company LLC (iBill), will relocate their operations to more cost-efficient facilities in January 2006, the companies have announced.
The move comes as part of an overall strategy to streamline IBDI’s operating costs and continue toward its ultimate goal of returning the company to profitability. The company successfully negotiated an early termination of its present lease, which was originally for 10 years at a cost of $76,000 per month. The move will save iBill $800,000 a year.
“It’s all part of our vision for the future,” says Gary Spaniak, president of IBDI. “This should allow us to concentrate on fulfilling our outstanding obligations and move forward with the process of turning this company around.”
When IBDI entered into contract negotiations to purchase iBill in July 2004, the company’s staff numbered nearly 280. Over the next six months the staff was drastically reduced. When IBDI took over management in March 2005, the number of employees was reduced further to its present level of 60 people, providing the opportunity to relocate.
The new facilities are less than four miles from the present location in Deerfield Beach.
Management believes the relocation will have no ill effects on the timeliness of transactions and payouts.
“Our credit card processing should continue seamlessly,” says Steve Markley, IBDI’s chief executive. “Through management’s implementation of newly adopted technology, iBill’s clients should not expect any type of downtime or a diminished ability to provide excellent customer service, during or after the move.”