As Secretaries of State explore available options to replace critical legacy business services systems during this economic downturn, FileONE offers an opportunity to defer a significant portion of the initial investment through our transactional funding model.
Through this model, registry offices contract with FileONE in a public-private partnership. In lieu of paying traditional upfront software license fees and implementation costs, FileONE absorbs initial project expenses in exchange for a nominal fee for online transactions. This model not only allows the agency to defer most of its initial investment, but provides stakeholders with additional services that are often unattainable through the agency’s project budget for many years.
FileONE’s transactional funding model greatly reduces the risks associated with new system development and implementation. The alternate payment structure incorporated into the transitional funding model ensures that registries are well supported throughout the various system lifecycles. Since FileONE’s investment recoupment is tied to the overall success of the project, registries are assured that FileONE will remain committed long after the implementation of the system.
Key Benefits of Transactional Funding:
- Eliminates need for a large capital expenditure
- Limits risk of large up-front investment
- Introduces new online filing services and adoption rates
- Promotes continuous investment in technology and services
- Reinforces vendor commitment beyond system go-live