Business

Our business is innovative. The term ‘innovation’ derives from the abbreviation of the expression ‘investment into novations’. The first part of the expression – investment – doesn’t need special explanations since investment activity is an indispensable component of any business. No doubt that in our case this activity has its peculiarities, but they all arise from the second part of the phrase – ‘novations’. The novations in which we invest are new ideas concerning enterprise governance. By means of realization and developing these ideas we intend to provide both current effectiveness of our business and its strategic outlooks. Our key concepts are the following.

Our principal novelty in business is selection of the target market segment. Nowadays as a result of global conflicts between society and officials (corruption), shareholders and managers (corporate failures) etc. enterprise governance has become a key priority area for attention. In Russia with its strict vertical governance structure and massive amounts of corporate property this problem is an issue of specific significance.

Enterprise governance includes several aspects, among which information technology is one the least developed. There aren’t any recognized standards in this area similar to those existing in the field of management techniques. For instance, in Russian business accounting the real standard de-facto is 1C technology, and in business processes management – SAP R/3. We expect that our technology ®icon3 will soon become standard de-facto in the field of Russian enterprise governance.

The governance technologies offered by Verysell Icontri are totally different from management techniques. These two kinds of techniques differ considerably in types of addresses and users.

The addressees are subjects whose interests are served by the technology. The users are subjects who serve the addresses’ interests using the technology.

The principal addresses of governance technologies are stakeholders (interested in property) while the addresses of management techniques are shareholders (concerned with performance). Stakeholders’ interests are served by keeping the property under control (governance). Concerning state power this function is implemented by the proper government agencies. In large corporations stakeholders’ interests are served by the Board of Directors, which acts as the user of governance technologies. The users of management techniques are managers who are responsible for performance. In business they are called executive managers.

At present ®icon3 is practically the single technology directly oriented to serve the stakeholders’ interests and able to implement governance functions, while management techniques in fact serve the shareholders’ interests and deal with current management.

Thus, ®icon3 technology has its target market area. In this area the dominant clients are state and large government and privately owned enterprises. State as a client is represented by Federal Agencies responsible for federal property governance and control over national resources. Business of large enterprises is based on massive property complexes.

The key novation of the ®icon3 technology supporting its business idea is the situation concept. This concept perfectly complies with enterprise governance because keeping property under control means keeping control over the situation in which the property is positioned. Situation governance is implemented by finding out differences between the actual situation and the expected one. Description of the situation includes actual property characteristics and analysis of changes.

Management techniques are based on a widespread business process concept. According to this idea, processes are considered to be the main substances and are thought of as a set of activities performed by an executor to develop and provide a client with a certain commodity or service. In the ®icon3 technology processes function as subservient substances – tools for changing situations, i.e. a set of activities transferring the current situation into the target situation.

All the novations described above determine the innovative character of our business and provide solution of a wide range of tasks concerning enterprise governance, corporate governance and compliance.