Instant Financial Picture!
BUSINESS FINANCIAL PLANNING & VALUATION ANALYSIS
Instant Financial Picture!
Profile of ILAR Systems, Inc.
Profile of Dr. John F. Richardson
Customer Testimonial Letters
Profile of ILAR Systems, Inc.
ILAR Systems, Inc., located in Newport Beach, California, USA, was founded in 1983, and it is considered one of the leading pioneers in business financial models, strategic planning and strategic management, with over 18,000 customers worldwide using its business financial planning, budget cash flow projection, forecasting, modeling, simulation and valuation software systems. It has shipped over 900 copies of its flagship product, Bottomline-V, to over 300 offices worldwide of KPMG Peat Marwick, who have been using it for client consulting in their Middle Market practice.
ILAR's models can be used by any size business in any type of industry: manufacturing; wholesale, distribution, retail; service; technology; construction contractor; healthcare for-profit; healthcare not-for-profit; real estate investment; not-for-profit organizations, etc. The success of the products can be attributed to the fact that Dr. Richardson gave his customers what they wanted, as he had the passion to continuously fine-tune and innovate his models based upon feedback from the end-users and independent research, as well as his university teaching.
ILAR Systems, Inc. has virtually no debt and has over 18,000 customers using its financial modeling and valuation software. Approximately twice each year Dr. Richardson completes his annual to all nine of his software products, as follows: (1) CEO's Strategic Planner, (2) Bottomline-V Business Financial Planning & Valuation System, (3) Bottomline-V Financial Planning Starter-Kit, (4) CashflowPLUS, (5) CEO's Strategic Planner Professional Valuation System, (6) Bottomline-V Advanced Valuation Analysis System, (7) Real Estate Investment Valuation System, (8) Banker's Commercial Loan Analysis System, and (9) Banker's Compliance, Planning & Valuation System. The nine products are supported on the three major platforms: (1) Excel under Windows, (2) Lotus under Windows and (3) Excel on the Apple Macintosh series of personal computers.
Profile of Dr. John F. Richardson
Dr. John F. Richardson, President of ILAR Systems, Inc. of Newport Beach, California, USA, has been a pioneer in business financial planning and valuation modeling and has developed over 18,000 end-users worldwide since1983 (See ILAR's Profile). The key to his success has been to listen to his customers and create what they requested in a spreadsheet format so that they can see the logic, equations and formats, which gives them total understanding, flexibility and creative control.
Richardson was graduated from Montclair State College, Upper Montclair, New Jersey in 1960 with honors, as he majored in mathematics, physics, chemistry, education and liberal arts. After teaching two years of high school math, he took a position with the IBM Corporation, where he became a computer accounting systems sales and design engineer, and he was the nation's sales leader and installer of small accounting systems in 1963, at 264% of his annual sales quota, and he was honored as President of IBM's 1963 100 Percent Club at IBM's annual sales convention during the summer of the 1964 World's Fair in New York City. His last year with IBM was 1967, and he was over 350% of his annual sales quota selling medium to large scale computer systems to life insurance firms and consulting actuary firms in New York City.
While doing a five-year stint with the IBM Corporation, Richardson matriculated for his doctorate in engineering at Polytechnic Institute of Brooklyn but had to settle for an M.S. Degree in Industrial Engineering, Operations Research and Computer Sciences because of a personal conflict and Polytechnic's two-year residency requirement.
Richardson, a visionary in the field of audio education, founded Universal Learning Corp., 220 Park Avenue South, New York, NY in 1968, where he produced educational courses and lectures using the cassette tape media along with books. Universal Learning Corp. developed core subjects in math, science, literature, languages, basic piano, introductory guitar, dancing, careers, the 'truth about' series, travel tourtapes on major cities of Europe, business lecture series and life enrichment series, with a staff of about 30 full time employees which included 15 editors, four commercial artists, two recording studio technicians, four secretaries, and five managers, with over 125 free lance college professors. Universal Learning Corp. and its 80% owned subsidiary, EDP Learning Systems, Inc. were both publicly traded On the pink sheets, as they raised a total of about $500,000.00 with two intrastate public offerings.
In 1970, Merrill Lynch offered Richardson an opportunity to study finance, and he was graduated from their intense one-year account executive training program and was licensed to buy and sell securities and commodities. Richardson also worked for the investment firms of Bache & Co., Inc. in New York City and Dean Witter in Santa Monica, California. Being misrepresented by his attorneys in NYC, Richardson began studying law at local law libraries; he then moved to Southern California in 1976 to attend law school evenings; and he received his B.S. in Law in 1978 and his Degree of Juris Doctor in 1980, while winning the American Jurisprudence Award from Bankcroft- Whitney Company, law book publishers, in his study of Corporations.
While teaching at Purdue University in 1973/74, Richardson did doctoral studies in biochemistry under Dr. Sallay of Hungary, who was mentored by the famous Nobel Laueate, Szent Gyorgyi, whose National Foundation for Cancer Research, Woods Hole, Massachusetts, funded Dr. Sallay's research. Because of his scholarly level research in Organic Chemistry in 1962, Richardson was invited to be on the three person team that did the pioneer work in developing the first artificial cancer vaccine in the form of a dodecapeptide or 12 connected amino acids (protein) thought to be the active site of the first identified cancer virus, RD-114, which when introduced into mammals should produce antibodies against that form of cancer virus. This was seminal research in the field of artificial vaccine synthesis.
After teaching one year at Purdue University, Richardson taught two years of high school college preparatory science in New Jersey, which included three senior classes of physics and on class of general science and astronomy at Kearny High School, Kearny, New Jersey. He then taught three senior honor classes in biochemistry and physiology, one junior class of chemistry, and one freshman honors class of advanced biology, including an introduction to environmental biology and macro-biology, with emphasis on research projects, at Sparta High School, Sparta, New Jersey.
Richardson worked for three years until 1980 as a computer timesharing sales account executive with National CSS, Inc., where his clients included Hughes Aircraft, Rockwell International, Disneyland, TRW, City of Anaheim, Carl Karcher Enterprises, Swedlow, to mention a few. Richardson worked for Forest E. Olson - Investment Real Estate, a division of Coldwell Banker, for seven months until interest rates went to 20 percent, which forced him out of real estate and back with another computer timesharing firm, Informatics General Corp., where he worked for about two years, as he continued his studies and received his MBA from Pepperdine University, summa cum laude, in 1982.
Thereafter, he accepted a position as Executive V.P. at Computique, and took this chain of eight computer stores from $14 million in sales to $24 million in one year, by hiring three of his fellow MBA classmates from Pepperdine University; installing point-of-purchase instant credit; retraining and motivating existing sales staff; and hiring and training 50 additional sales personnel.
In 1983, Richardson founded New Venture Strategies which changed its name to Strategic Software Systems, Inc., based upon the request of the New York City underwriter and subsequently, was forced to change its name to ILAR Systems, Inc. because of a trade name dispute. Since 1983, ILAR Systems, Inc. has been an innovative leader in the field of business financial planning, modeling, simulation and valuation software systems.
In the fall of 1991, Richardson was accepted at United States International University, San Diego, California, where he completed his Doctor of Business Administration studies and successfully defended his dissertation in August 1995, which is entitled Financial Performance of Technology Driven Firms, Aligning Strategy, Capability and Environment, and it involves extensive empirical research, which used feedback from general managers at about 50 technology-driven firms that were mostly customers using Richardson's financial models.
From August 1995 through June 1997, Dr. Richardson taught twenty, one-month courses at National University, the largest adult college in California with campuses throughout the state. Eight were finance courses to MBA students (including Financial Institutions, Corporate Finance, Investment Analysis & Portfolio Management, and International Finance); six were computer science courses (including Management Information Systems and Artificial Intelligence: Fuzzy Logic, Expert Systems and Artificial Neural Networks); and two were Managerial Cost Accounting courses. In the future, Dr. Richardson intends to teach Corporate Finance and Artificial Intelligence on the Internet. He has already developed the Corporate Finance Course and taught it three times using distance learning on the Internet for tuition of $1,495.00 per student. His Artificial Intelligence course should be ready in the near future and will be offered worldwide by Dr. Richardson using distance learning via the Internet. Anyone interested in these courses should contact Dr. Richardson at the phone number or e-mail address below.
1155 Park Street, Regina, Saskatchewan, Canada S4N 4Y8
Phone (306) 525-6741 FAX (306) 569-8677
Mr. John Richardson
ILAR Systems, Inc.
334 Baywood Drive
Newport Beach, California, CA92660
Dear Mr. Richardson: RE: Bottomline V
Willock Industries Ltd. is a manufacturer of transportation equipment with multiple locations. Preparing financial presentations and forecasts has always been a time consuming task until we purchased Bottomline V from you.
Bottomline V is now a very intregal part of our planning process. So far we have only used the model named "Range" and have cut the presentation preparation time by at least 75%.
We have added to the Detailed Expense section to include every expense item for our company and built in variable factors to allow each individual item to be projected based on things like a % of sales or % of payroll or number of chargeable hours of direct labour etc..
The result is that "What If" types of analysis are simple, you just change the variable, (at last count we had over 100 variables).
We are now able to easily prepare financial presentations and future oriented financial statements that are PROFESSIONAL, INFORMATIVE and sufficiently detailed to make the forecasts realistic and supportable.
The bottomline (not meant as a pun) is that Bottomline V is a flexible, efficient and effective software package that nobody who has the responsibility of preparing meaningful financial presentations should be without.
Yours very truly,
WILLOCK INDUSTRIES LTD.
D. Feasby, C.A.
Vice President, Finance
Editorial & Evaluation Center - 10100 Santa Monica Blvd., Los Angeles, CA 90067
TEL (213) 286-0988 FAX (213) 286-1293
John Richardson
President
ILAR Systems Inc.
334 Baywood Drive
Newport Beach, CA 92660
Dear John:
The members of our retail panel of software experts:
JOHN REED - EGGHEAD DISCOUNT SOFTWARE
CRAIG DUNCAN - COMPUTERLAND
JOHN LEWIS - BUSINESSLAND
HENRY KHALIFE - MICROAGE
KEITH WILSON - INACOMP
L.B. WITHROW - NEECO
have nominated your software for the COMPUTER HANDBOOK SOFTWARE REVIEW 5 STAR AWARD FOR EXCELLENCE IN SOFTWARE DESIGN.
THE COMPUTER HANDBOOK SOFTWARE REVIEW 5 STAR AWARD FOR EXCELLENCE IN SOFTWARE DESIGN IS AWARDED TO ONLY 5% OF ALL SOFTWARE SUBMITTED. THIS AWARD IS BASED ON THE FOLLOWING CRITERIA:
We need you to design a 200 - 250 word editorial describing your software and the design features which led to its nomination for the 5 star award. Please forward this editorial to me as soon as possible so that our distinguished panel of retail software experts can use this information in awarding the COMPUTER HANDBOOK SOFTWARE REVIEW 5 STAR AWARD FOR EXCELLENCE IN SOFTWARE DESIGN.
Please send me your editorial as soon as possible. I look forward to receiving this information
Sincerely,
Leo J. Dougherty
Managing Editor
Andrew R. Finkelstein
15 East 91st Street
New York, New York 10128
Mr. John F. Richardson
President
Ilar Systems, Inc.
334 Baywood Drive
Newport Beach, Ca. 92660
Dear John,
My business associate and I had been looking for a financial forecasting system for quite a period of time. We then were introduced to Bottomline V, and the results that we have been able to accomplish in a very short period of time using the program have been spectacular. I think we will be able to both run our existing service business in a more effective manner, and make evaluations that need to be made on our acquisitions in a more timely and certainly cost efficient fashion.
Very Truly Yours,
Andrew R. Finkelstein
Carl-Friedrich Mittelstadt
President
Mr. John F. Richardson
President
ILAR SYSTEMS, INC.
1300 Dove Street, Suite 105
Newport Beach, CA 92660
Dear John:
It certainly has been some time since I last talked to you and I would like you to know that I am extremely pleased with the performance of the Bottomline V software.
Our activities concern joint ventures and/or mergers on behalf of European clients and to be able to show the varying profit potentials and risk assessments of specific deals is invaluable.
Clients are most impressed with the speed and accuracy of our analyses, a fact that has helped us greatly in establishing a high confidence level and as a result close more deals.
Thanks again for your support and please do not fail to keep us abreast of other software developments and/or upgrades to this outstanding product.
Sincerely,
CFM/nan
Ibex Management Inc. - 2408 Reelodge Pkwy. - Atlanta, Georgia 30338 -
Tel 404/395-1515
Atlanta - Brussels - Geneva - London
Mr. John Richardson
President
ILAR Systems, Inc.
334 Baywood Drive
Newport Beach, CA 92660
Dear John:
I want to take a minute and thank you for the product Bottomline-V that I recently purchased. As the Director of Budgets/Reimbursement/Cost Accounting at a 500- bed hospital, we are also responsible for a 100 bed skilled nursing home and several subsidiary companies. The strategic planning process can become quite involved. With Bottomline-V I have been able to use one of your modules to trend the last 10 years and project for 5 year for our Income Statements, Balance Sheets, and beat of all the Ratio Analysis Statement.
Bond ratings are important to our access to capital and obtaining the beat rate available. Using the model we are able to target several key financial ratios and how our history has been along with our long-range projections in comparison with those of other "A" rated facilities. Generating sufficient funds for technology, capital replacement, working capital, and new programs are easily factored into the considerations with the financial models.
Thanks again,
J. P. Graham
Director Budget/Reimbursement/Cost
Memorial Mission Hospital
John F. Richardson
President
ILAR Systems, Inc.
334 Baywood Dr.
Newport Beach, Ca. 92660
Dear Mr. Richardson,
I am writing to let you know how useful Bottomline V has been to our business. It has saved us countless hours of spreadsheet time. Both Cashflow Plus and the Model template have been incredibly easy to use. We also appreciate the patient technical support you have provided. Since acquiring Bottomline V, we use it to do all our financial forecasting. It is a very effective too. Great Job.
Sincerely,
John Jaeckle
2626 Cole Avenue - Suite 700, LB 48 - Dallas, Texas 75204
214 / 754-0440 - FAX 214 / 754-0660
John F. Richardson
President
ILAR Systems, Inc.
334 Baywood Drive
Newport Beach, CA 92660
Dear Mr. Richardson:
I just received my copy of the latest upgrade of Bottomline V (3.1) and wanted to express to you my satisfaction with this outstanding product. since purchasing my first copy of Bottomline V in 1985, I have had an opportunity to use this product extensively with Lotus 1-2-3. I have found Bottomline V to be an effective tool in preparing budgets, business plans and valuation studies for my company.
I would highly recommend this application to any business owner, financial analyst, or department manager who is seeking a PC/DOS based application for analyzing the financial performance of his/her company.
Sincerely,
John O. Hansen
Vice President of Finance
JOH/jb
McLaren College of Business
Ignatian Heights
San Francisco, CA 94117-1080
Mr. John F. Richardson, President
ILAR Systems, Inc.
334 Baywood Drive
Newport Beach, California 92660
Dear Mr. Richardson:
Congratulations on the success of your Bottomline-V program. I use the program as part of the course assignments on financial analysis in my MBA class on Financial Accounting and find Bottomline-V to be a superb product. It is quick, reliable and performs exactly as described in your promotional material. It is comforting to find a product which equals or surpasses its advance billing.
Sincerely,
John Grant Rhode, Ph.D., CPA
Accounting Program Director
1556 1st Street, Suite 103, Napa, CA 94559
Mr. John F. Richardson
ILAR Systems, Inc.
334 Baywood Drive
Newport Beach, CA 92660
Dear John:
Well I've given Bottomline-V a shake down and I must say I'm impressed.
I have used the History and Range models in analyzing client financial statements. I must say was impressed with the results. The models saved me literally hours in making a detail analysis of the two companies.
In my role as a financial counselor for the SBDC I see many clients who are looking for answers to questions about the financial health of their companies.. The Bottomline models I have used so far appear to be significant analysis tools. As a former banker, the conversion of financial statements into the Robert Morris Associates format impressed me and it certainly makes comparison by SIC much easier. Based upon what I have seen so far I expect to be using these models for a long time.
While time constraint have kept me from fully exploring the capability of the remaining models, I will eventually get to them. I expect I will be impressed with all of the models as I was with the first two. I have no hesitation in recommending Bottomline-V to anyone. As a long time spreadsheet user, I know how long it takes to develop and test such models. Believe me the price of Bottomline-V is much less than the cost in time spent to develop similar models.
Keep me posted on upgrades, please.
Sincerely,
Howard O. Aldridge
2221 Northeast 202 Street
North Miami Beach, Florida 33180
April 4, 2000
Dr. John F. Richardson, President
ILAR Systems, Inc.
334 Baywood Drive
Newport Beach, Ca. 92660
Dear John:
I wanted to tell you how delightful it was working with you and your two very special programs CEO's Strategic Planner and Bottomline-V.
Your guidance ensured that we could and would appreciate all you have designed. The programs are outstanding and its first use (with your help) probably saved us a week of work. I believe the programs paid for themselves in the first case.
The clients appreciated the finished report format and presentation. You can be assured we will use it whenever we can.
Cordially.
VALTEK CONSULTANTS, INC.
Jack Birnholz, ASA
Bimeda, Inc. - A Division of Cross Vetpharm Group
460 NW Parkway, Riverside, MO 64150
(816) 746-9368 FAX (816) 746-9369
September 1, 2004
Dr. John F. Richardson
President & CFO
ILAR Systems, Inc.
334 Baywood Drive
Newport Beach, CA 92660
Dear John,
This letter is to thank you for the excellent financial modeling software packages that you have developed over the years since 1983. Over 11 years ago, I used your Bottomline-V Business Financial Forecasting system when I was Finance Manager at Elf Asphalt, and I found your models to be ideal for my financial management needs, since your models forecasted profitability, operating cash flow, balance sheet cash flow, return on investment, earnings growth and capitalization planning, to mention only a few of the features. In addition, your models covered my needs on a monthly, quarterly and annual basis, while even allowing me to use six years of historical income statement and balance sheet data and forecast the eight financial statements five years into the future.
When I contacted you on September 11, 2003, and heard of the tremendous advances that you made with your models, I was quite impressed. Then, when we began using your new CEO's Strategic Planner models for corporate financial forecasting and valuation analysis, I was even more pleased.
Your assistance with your new consulting service was also invaluable to me as CFO at Bimeda, Inc. The way you wrote the 30-page financial analysis write-up from our historical tables and forecasted tables in the model you customized for us was most impressive and extremely helpful to me and my management team at Bimeda, Inc.
Keep up the good work and let me know of any new developments.
Sincerely yours,
Karlan Yager, CFO
(signature on file)
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Copyright (c) 1996-2006 by: Dr. John F. Richardson
and ILAR Systems, Inc.