Infobank, the global business-to-business (B2B) e-commerce solution provider, has renamed itself Izodia. The change takes immediate effect, and was prompted by the difficulties experienced in registering the company in some countries.
Dr Douglas Boateng, Izodia SA CEO, says the previous name presented a challenge in some countries, where it was incorrectly associated with the financial services industry. The name change is expected to facilitate the company`s international growth in a worldwide market predicted to be worth R65 trillion ($8.5 trillion) by 2005.
"The Izodia brand can be used in all the company`s current and planned global markets without the legal or regulatory restrictions associated with having the word `bank` in the name," says Boateng. "The listing of the company name on the London Stock Exchange will be changed in due course.
"The new name also supports growing customer demand for Izodia`s flagship B2B e-commerce solution, InTrade Version 5, launched in SA in February. We look forward to making the Izodia name synonymous with the only unified B2B solution for buyers, sellers and Net market-makers which integrates with existing IT systems."
Izodia was launched in the UK nine years ago and has expanded over the past 18 months into North America, Scandinavia, Africa, Australia and The Netherlands. Work is progressing on addressing new markets in Europe such as Italy and Germany in 2001.
In SA, the company is responsible for the marketing, sales, distribution and implementation of the InTrade e-commerce solution across 53 countries on the African continent. Izodia delivered ProcureTrade, a joint venture between the AST Group and McCarthy Online.
Companies that utilise this hub include Engen, McCarthy Retail, Barloworld Motors, AST and Planet Pastel. Other local users of Izodia`s e-commerce solution InTrade include Denel, AfriNet, Hewlett-Packard, Utilities Afrique and Ariel Technologies. Izodia has pilot sites in East Africa and has finalised plans to expand into West Africa.
"Our acceptance and growth in the African market has been positive. In the next 12 months, Izodia will further strengthen its leadership position in the African market through working with partners to populate these and other ASPs and marketplaces," says Bernie van Niekerk, COO of Izodia.
The company also announced that its global helpdesk would soon be hosted in SA.
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