Austin software maker plans growth through diversification

Apr 10, 2014
Austin Business Journal

Software maker Fee Technology Inc. is tripling the size of its headquarters with a new location in Northwest Austin


The company is relocating to another Synergy Plaza building on Jollyville Road later this month with plans to double its workforce during the next 12-18 months as it diversifies its target customer base beyond veterinary services, company executives said


Fee Technology, founded in 2007 in Tulsa, Okla., developed business management software called Profit Solver, which is designed to enable service-based businesses to reduce costs by identifying where it is saving and losing capital, President Dan Zalta said. The software package costs between $8,000 and $16,000, depending on the size of the client


The company relocated to Austin last year and now employs 11 workers


Globally, the market for business intelligence software was estimated to reach $13.8 billion last year, a 7 percent increase compared with 2012. It’s projected to reach $17.1 billion by 2016, according to Connecticut-based Gartner Inc. (NYSE: IT)


Fee Technology is self funded and Zalta said he plans to continue its grow without outside investors such as venture capitalists


Company executives said they have identified 150 industries that could use the Fee Technology software that’s already been tested by the veterinary clients. The broad spectrum of prospective users puts Fee Technology in a position of strength, Zalta said


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