Systems Outlines 2008 Highlights
2008 was a year filled with achievements and challenges for
International Monetary Systems. After record-setting growth in 2007
triggered by IMS� acquisitions of two of America�s largest trade
exchanges, the company spent much of 2008 integrating those
operations and continuing to build infrastructure.
highlights of 2008:
completed its investment in new computers, monitors, printers,
servers, and other equipment, which has enhanced the efficiency of
our broker and sales staffs.
Substantial progress was made in upgrading their web site, with new
written content and graphics, new testimonials, an educational
video, a client/broker blog, and audio clips which tell their story
to prospective members. New traffic to their web site has increased
76% from 2007. The member portal has been expanded with a new online
barter marketplace, travel-on-trade booking area, and account
maintenance tools. As a result, more and more members use the
exchange�s web site to sell, buy, or simply input a transaction or
check their account. IMS is transforming member behavior to
positively impact our efficiency.
they acquired the source code for TradeWorks� proprietary clearing
system, then migrated the entire program from its original RPG
format into a more current dot-net technology. This process is
ongoing as they near the official rollout of the most updated
version of the new Trade Network Tracking System (TNT). The cost of
this project is approaching $500,000.
department now has five full-time employees, including a talented
graphics designer, who are servicing the network, converting the
software and enhancing the IMS web site.
has worked diligently to increase the productivity and
cost-effectiveness of its outside sales force. Some of their losses
in the first two quarters of 2008 were a direct result of
non-productive efforts. The leaner, more efficient group has
enrolled more than 3,000 new members during 2008. Yet as impressive
as that number seems, it barely matched the attrition of existing
members who had stopped functioning in the barter system, or had
ceased business operations.
annual (holiday) Barter Expo series in November and December
surpassed the attendance and trading volume experienced in 2007.
Overall volume at these events increased by 16%, with aggregate
sales of over $3 million.
2008 IMS acquired two small exchanges in Boston (MA) and Long Island
(NY), and completed the acquisition of New York Commerce Group.
coverage of IMS in 2008 was fortuitous, ending the year with
exposure from national and local television, and many different
print outlets, large and small. During the year CEO Don Mardak, was
interviewed by Neil Cavuto on the Fox Business Network, and by the
producer of the CBS Evening News with Katie Couric. Many of the TV
shows broadcast last year also featured IMS clients who gave glowing
reports of barter�s positive impact on their cash flow. The IMS web
site home-page features much of this coverage.
year repurchased more than one million of its shares under
contractual obligations with former owners of companies acquired in
previous years. This increased their treasury stock to more than two
company believes that all of these achievements portend a great
future for International Monetary Systems. Confidence, however, is
tempered with caution. While 2008 brought great achievements, they
sustained some set-backs as a result of the nation�s economic
downturn. While cash receipts increased very slightly from 2007,
that gain was offset by a sizable trade-dollar loss from within the
corporate barter department.
does not rely on any one department to drive its success. Their
system is one that spreads the risk and reward among a large
network: when one area is down, another area is up. The same is true
for the various markets they serve.
more information visit