IBDI President Gary Spaniak said the move comes as part of an overall strategy to streamline the company’s operating costs and continue toward its ultimate goal of returning to profitability. The company was able to negotiate an early termination of its present lease, originally a 10-year agreement, at a monthly cost of $76,000.
“It’s all part of our vision for the future,” Spaniak said. “This should allow us to concentrate on fulfilling our outstanding obligations and move forward with the process of turning this company around.”
IBDI has downsized considerably since it entered into contract negotiations to purchase iBill in July 2004, at which time the company’s staff numbered 280, according to an IBDI spokesperson. By March 2005, IBDI had only 60 employees, at which point the search began for a building that could house IBDI’s team more efficiently. The new facilities are less than four miles from Deerfield Beach.
“Our credit card processing should continue seamlessly,” IBDI CEO Steve Markley said. “Through management’s implementation of newly adopted technology, iBill’s clients should not expect any type of down-time or a diminished ability to provide excellent customer service, during or after the move.”
For more information, visit: https://www.ibill.com/ or contact Tom Catterson, Director of Public Relations, at tcatterson@ibill.com or (954) 363-4726.