Technology
Phoenix inks nearly $1 million in banking software contracts
Orlando Business Journal - by Paul Dillon
Phoenix International Ltd. has signed three new contracts worth a combined $929,000 for the Maitland-based banking software developer.
Under the agreements, Phoenix will install and support software programs over the next five years for Humboldt Bank in Eureka, Calif.; First State Bank of St. Charles, Mo.; and Frontier State Bank of Show Low, Ariz.
Phoenix develops, markets and installs banking software that handles various functions, including account management, transaction processing, financial reporting and profitability analysis. The software is designed for client/server computer systems, which consist of groups of personal computers using computer hubs called servers to jointly work on processing tasks. Phoenix presently has 36 banks under contract.
In other news, Phoenix named its first U.S. distributor, Netcomm Group of Noblesville, Ind., which will sell, install and support Phoenix products for small banks in Indiana and Michigan. In the past, Phoenix has used only international distributors, with the company itself handling all domestic sales.
Phoenix CEO Bahram Yusefzadeh says thousands of banks in the United States could use Phoenix software (the target bank has assets of $200 million or less), "but we simply couldn't reach all of them fast enough." Using Netcomm "is a logical expansion of our marketing program."
Founded in 1993, Phoenix employs 120 people at its 24,209-square-foot Maitland headquarters and three people in satellite sales offices in Philadelphia, Oklahoma City and Des Moines, Iowa. Mike Newes, senior vice president of marketing, says the company plans to relocate its headquarters in March to 37,500 square feet at 500 International Parkway in Heathrow.
Executives of Phoenix, traded as PHXX on the NASDAQ exchange, say revenue and earnings have been growing as a result of its expanding customer base. The company earned $559,000 on revenue of $2.9 million during the quarter ended Sept. 30, compared with a loss of $377,000 on revenue of $789,000 during the comparable period a year earlier.
System links hospital to clinics
The Maitland operation of Multimedia Medical Systems Inc. helped develop a new "telemedicine" network linking a Los Angeles medical center to inner-city neighborhood clinics.
The local operation, formerly called md/tv, is a subsidiary of Multimedia Medical Systems of Reston, Va.
Installed last month, the new telemedicine network links Charles R. Drew University of Medicine and Science in the Watts-Willowbrook community of Los Angeles to clinics located in the Carmelitos Public Housing Development territory.
The telemedicine system enables doctors to diagnose patients and exchange medical information via video and other electronic means.
Paragon designs CD-ROM game
A local software developer is behind a CD-ROM helicopter action game scheduled to be in stores later this month in demonstration form.
The game, called HeliCOPS, was created by Orlando's Paragon Visual Systems Inc. and published by a partnership of 7th Level Inc. of Dallas and Technology Edutainment Network Laboratory Co. Ltd. of Japan.
Rob Kyanko, president of 2-year-old Paragon Visual Systems, says a full-length version of the game is scheduled for release in April 1997.
TechKnowQuest widens services
Orlando's TechKnowQuest has expanded its offerings for small- and mid-sized companies interested in Internet-based electronic commerce.
TechKnowQuest added to its suite of products Microsoft Merchant Server, which helps businesses set up retail stores on the World Wide Web at reasonable costs.
The local company already has established two Internet sites using the Microsoft product -- its own Web site (http://www.tkq.com) and one for chocolate and gift retailer Swiss Connection Inc. (http://swissconnection.com).
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