Fishbowl Inventory

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Fishbowl Inventory
Type Private
Industry Software
Founded 2001
Headquarters Orem, Utah
Key people David K Williams (CEO)
Mary Michelle Scott (President)
Products Inventory Management Software and Solutions
Employees 97 (January 2013)
Website www.fishbowlinventory.com

Fishbowl Inventory (aka ExpressTech Holdings) is an Orem, Utah-based software company that develops and publishes inventory management software and related solutions. Fishbowl was created in 2001 by a group of software developers. The company was originally called ExpressTech Holdings, but its name was changed to Fishbowl a few years later to reflect its focus on allowing small businesses and mid-size businesses to see how much inventory they have on hand by using electronic devices, such as desktop computers and wireless scanners.[1][2]

Shortly after it was created, Fishbowl focused on integrating its inventory management software with QuickBooks. It soon became one of the first third-party software developers to receive Intuit's Gold Developer status. It continues to hold that status through 2013. In 2003, Fishbowl became the #1 inventory management add-on to QuickBooks, based on sales to QuickBooks users.[3]

History

Fishbowl was formed in 2001 by Chuck Hale and Beverly Hale, two business owners in Salt Lake City. The pair invested $3 million into the software company and went through several CEOs in rapid succession.[4] In 2004, they asked a business consultant named David K. Williams to evaluate the company and possibly dissolve it. Instead, Williams reorganized the company and kept it in business.[5] Within three years, it was out of debt and earning awards for its growth.[6]

In addition to inventory management software, the company’s product line grew to include a Manufacturing Option in 2009[7] and a mobile warehouse solution in 2010.[8] The Mississippi State Department of Health,[9] Santa Barbara County, CA IT Network Division,[10] and several other government bodies use Fishbowl Inventory as an asset tracking system.

In January 2011, Mary Michelle Scott joined Fishbowl as President.[11] She came at a precarious time for the company. Four months earlier, the primary shareholders had asked for their original investment back, but the company didn’t have enough cash in its reserves to meet the full payment.[12] It appeared that it would have to be sold to an investment group or another company, which would likely have resulted in its dissolution. However, Scott and Williams were able to make contact with officials at Zions Bank and secure a $1 million loan just before the deadline for the first installment to the original owners.[13] Over the course of 2011, Fishbowl generated enough revenue to pay back its $1 million loan in full seven years ahead of schedule.[14]

Fishbowl partnered with a businessman named Simon Jupe in late 2011 to create the first international version of its inventory management software: Fishbowl Australia.[15] Fishbowl Australia has the same features as Fishbowl Inventory (manufacturing, barcode scanning, etc.), and it has been modified to include different tax codes and ways of creating certain forms and doing business that are unique to Australia.

Leadership

David K. Williams, CEO of Fishbowl

Before coming to Fishbowl, Williams held the position of CEO at Franklin Quest Canada. In addition, he was the Managing Director of First Things First, which is part of Covey Leadership, and he was a member of several boards of directors over the years.[16] Before becoming President of Fishbowl, Scott served from 2001 to 2009 as Vice President of Corporate Development at Certiport, a company that provides training and certification on software by Adobe Systems, Microsoft, Intuit and others.[17] She also held leadership positions at Center7 and Axent/Symantec.

Software features

The primary product, Fishbowl Inventory, is an inventory control program that integrates QuickBooks. Fishbowl Inventory was one of the first programs to integrate with QuickBooks and currently holds Gold Developer Status, Intuit’s highest award for third-party integrators.[18] The program is divided into modules focusing on various inventory control and management tasks, including sales, purchasing, manufacturing, shipping, pricing, and ordering. The program provides multi-location inventory tracking, LIFO/FIFO and average costing standards, bar coding, and order creation and recording.

Fishbowl Inventory’s feature set was designed to provide distributors, wholesalers, manufactures and retail businesses the additional inventory features and functionality that QuickBooks lacks. These include inventory control, purchase order and sales order generation, manufacturing, and cycle counting. As part of the QuickBooks integration, Fishbowl Inventory records transactions, invoices, and bills directly to customers' QuickBooks file.[19]

The software runs on a centralized server, allowing multiple clients to connect simultaneously. This structure also allows integration with barcode inventory tracking hardware devices, multiple location tracking, and other mobile communicators. The server side uses a SQL database and can run on Windows or Linux.[20]

In late 2011, Fishbowl introduced a point of sale system called SalesPoint, which integrates with its inventory management software.[21] In August 2012, Fishbowl made one of its inventory management features available through tablets and smartphones via its online application, Fishbowl Pipeline.[22] Users can check inventory availability online. This is the first time Fishbowl has allowed users to access its software through the cloud.

Community service

Fishbowl offers community service to Provo, Orem and other local communities at least once a year. In 2009, Fishbowl donated its inventory management software to CherryCreek Elementary School in Springville, Utah to track its supplies, and Fishbowl employees helped catalog the school’s equipment, books and other resources.[23] In 2010, Fishbowl employees landscaped the playground and other areas surrounding Provo’s House of Hope, a facility where women suffering from substance abuse come to receive assistance for themselves and their children.[24] In 2011, Fishbowl sponsored a service project for Mountainland Head Start preschools in Utah County. Fishbowl employees went to four locations: one in American Fork, one in Springville and two in Provo to offer manual labor, including painting, landscaping and yard work.[25] In 2012, Fishbowl employees volunteered at Barnett Elementary School in Payson, Utah.[26] They assisted teachers and students in their classrooms, filed and organized hundreds of books based on students' learning level, repaired damaged picnic tables and wall-ball structure, and created learning kits for students.[27]

Fishbowl has also partnered with several Utah groups and companies – which include Utah Valley University, Certiport, Think Atomic and Voonami – to create the Courage Above Mountains Foundation. The CAM Foundation provides job education and additional services to low-income mothers and other people in need.[28] It also helps entrepreneurs find local resources to help them develop their startups.[29] In 2012, the CAM Foundation moved into its first foreign country when it was joined by an Australian partner: Fishbowl Australia. It offered a scholarship to Australian students through its partnership with Certiport.[30]

Awards

Since 2007, Fishbowl has earned a number of business awards for its revenue growth. These awards are listed in order by year:

2012

  • Best of State – Software Development/Publishers[31]
  • Inc. 5000: No. 2,330[32]
  • Inc. Hire Power Awards: No. 8 Job Creator in Utah[33]
  • MountainWest Capital Network Utah 100[34]
  • National Association of Women Business Owners, Salt Lake City chapter – Fishbowl President Mary Michelle Scott: Honoree[35]
  • Red Herring Americas[36]
  • Red Herring Global[37]
  • Smart 25 Awards[38][39]
  • Utah Business SAMY Awards: Utah’s Top Sales and Marketers of the Year – Fishbowl Chief Marketing Officer Kirk Tanner[40]
  • Utah Valley BusinessQ UV50: No. 23[41]
  • V100: 2012 Top 100 Venture Entrepreneurs – Fishbowl CEO David K. Williams and President Mary Michelle Scott[42][43]

2011

  • Deloitte Technology Fast 500: No. 381[44]
  • Inc. 5000: No. 3,283[45]
  • MWCN Utah 100: No. 63[46]
  • Utah Business 30 Women to Watch – Fishbowl President Mary Michelle Scott[47]
  • Utah Valley BusinessQ UV50: No. 24[48]
  • Utah Valley Entrepreneurial Forum: Utah’s Best Kept Secret – Fishbowl[49]
  • V100: 2011 Top 100 Venture Entrepreneurs – Fishbowl CEO David K. Williams[50]

2010

  • Deloitte Technology Fast 500: No. 218[51]
  • Inc. 5000: No. 2,157[52]
  • MWCN Utah 100: No. 36[53]
  • Utah Business Fast 50: No. 45[54]
  • Utah Valley BusinessQ UV50: No. 16[55]

2009

2008

  • Deloitte Fast 500: No. 101[60]
  • Inc. 500: No. 356[61]
  • MWCN Utah 100: No. 6[62]
  • Utah Business Fast 50: No. 6[63]
  • Utah Valley BusinessQ UV50: No. 8[64]

2007

References

  1. ↑ "Fishbowl Named Sixth-Fastest Growing Company in Utah". Utah Business Magazine. September 2008. 
  2. ↑ "FISHBOWL INVENTORY - Trademark Details". Justia.com Trademarks. Retrieved May 15, 2012. 
  3. ↑ Gaskin, James (March 4, 2009). "Extending QuickBooks with Fishbowl Inventory". IT World. 
  4. ↑ "Fastest-Growing Companies". Utah Valley BusinessQ. Spring 2008. 
  5. ↑ Gordon, Dick (October 3, 2012). "Fishbowl Inventory". The Story. 
  6. ↑ Bennett, Jeanette (March 10, 2011). "Growing Pains and Gains". Utah Valley BusinessQ. 
  7. ↑ "Fishbowl Adds Manufacturing to Inventory System". WebCPA. October 19, 2009. 
  8. ↑ Brousell, David (April 3, 2010). "Easing Mobility in Warehouse Management". Managing Automation. 
  9. ↑ "Fishbowl Case Studies – Mississippi State Department of Health". Fishbowl. 2010. 
  10. ↑ "Fishbowl Case Studies – Santa Barbara County, CA IT Network Division". Fishbowl. 2011. 
  11. ↑ "Fishbowl Expands Management Team, Celebrates Record Growth, and Unveils New Programs for 2011". Fishbowl. January 27, 2011. 
  12. ↑ Dalrymple, Jim (December 30, 2011). "Employee-owned Orem tech biz grows rapidly, becomes debt-free". Daily Herald. 
  13. ↑ Lee, Jasen (December 29, 2011). "Successful Orem company pays back $1 million loan with hard work and sacrifice". KSL. 
  14. ↑ Harvey, Tom (August 6, 2011). "Employee ownership key to software maker revival". The Salt Lake Tribune. 
  15. ↑ "Fishbowl Australia - Introduction". Fishbowl Australia. November 1, 2011. 
  16. ↑ "Executive Bios - David Williams, CEO". Fishbowl. Retrieved July 9, 2012. 
  17. ↑ "Mary Michelle Scott - Nominated for the 2012 Small Business Influencer Awards in: Leaders". Small Business Trends. Retrieved September 28, 2012. 
  18. ↑ "Fishbowl Inventory Overview". Intuit. 2007. 
  19. ↑ Arendt, Inga (February 28, 2011). "ProAdvisor Review: Fishbowl Inventory and Fishbowl Mobile Warehouse". Intuit Developer Network. 
  20. ↑ "Fishbowl Inventory – #1 QuickBooks Inventory Management Solution". Intuit Marketplace. 2011. 
  21. ↑ Eddy, Nathan (October 7, 2011). "Fishbowl Inventory 2012 Offers Management Features". eWeek. 
  22. ↑ Fineberg, Seth (August 2, 2012). "Fishbowl Brings Inventory Management to the Cloud". Accounting Today. 
  23. ↑ Snowden, Cary (August 12, 2009). "Fishbowl Donates Software; Catalogs Reading Library for CherryCreek". Utah Valley Business Blog. 
  24. ↑ "House of Hope landscaping improved by local companies". Daily Herald. September 17, 2010. 
  25. ↑ "Day of Service 2011". Fishbowl. September 12, 2011. 
  26. ↑ Higley, Candi (September 8, 2012). "Orem business gives back on Day of Service". Daily Herald. 
  27. ↑ Knudsen, Beth (September 11, 2012). "Day of Service at Barnett Elementary". Nebo School District. 
  28. ↑ "Gently Used PC Hardware Needed at Fishbowl’s Courage Above Mountains Foundation". Utah Pulse. March 4, 2011. 
  29. ↑ Cutler, Sarah (April 1, 2011). "AROUND UTAH". Utah Business. 
  30. ↑ "Fishbowl's CAM Foundation Offers Scholarship in Australia". Certiport News. April 2, 2012. 
  31. ↑ "2012 Winners By Category". Best of State. Retrieved May 9, 2012. 
  32. ↑ "Inc. 5000 2012 List". Inc. Magazine. Retrieved August 22, 2012. 
  33. ↑ "Inc. Hire Power Awards: The Real Heroes of the American Economy". Inc. Magazine. Retrieved December 7, 2012. 
  34. ↑ "2012 List of Utah 100 Fastest Growing Companies Released by MountainWest Capital Network". MountainWest Capital Network. September 25, 2012. 
  35. ↑ Kavanagh, MaryPat (May 24, 2012). "NAWBO, Salt Lake City Chapter Names Celeste Gleave Woman Business Owner of the Year". NAWBO, Salt Lake City. 
  36. ↑ "Americas 2012 Top 100". Red Herring, Inc. Retrieved December 4, 2012. 
  37. ↑ "2012 Top 100 Global Winners". Red Herring, Inc. Retrieved December 4, 2012. 
  38. ↑ "B2B CFO Announces the winners of the Inaugural "Smart 25 Awards"". B2B CFO. Retrieved May 1, 2012. 
  39. ↑ "Largest Loan for Revolving Credit Loan - Fishbowl". B2B CFO. Retrieved July 10, 2012. 
  40. ↑ Stewart, Heather (January 2012). "The SAMY Awards". Utah Business. 
  41. ↑ Stewart, Briana (Summer 2012). "Growing Green - Meet the 2012 UV50 30 Fastest-Growing Companies". Utah Valley BusinessQ. 
  42. ↑ "2012 Top 100 Venture Entrepreneurs". Signal Peak Ventures. Retrieved May 3, 2012. 
  43. ↑ "Signal Peak releases Top 100 Utah tech entrepreneurs for 2012". The Salt Lake Tribune. May 7, 2012. 
  44. ↑ "Deloitte’s 2011 Technology Fast 500 Ranking". Deloitte Development LLC. Retrieved May 8, 2012. 
  45. ↑ "Inc. 5000 2011 List". Inc. Magazine. Retrieved August 22, 2012. 
  46. ↑ "MWCN Honors Lendio as Utah’s Fastest Growing Company in 2011". MountainWest Capital Network. October 6, 2011. 
  47. ↑ Stewart, Heather (May 1, 2011). "30 Women to Watch". Utah Business. 
  48. ↑ Stewart, Briana (March 10, 2011). "2011 UV50 TOP 30 Fastest-Growing Companies". Utah Valley BusinessQ. 
  49. ↑ "UVEF 2011 Awards". Utah Valley Entrepreneurial Forum. December 8, 2011. 
  50. ↑ "2011 Top 100 Venture Entrepreneurs". Signal Peak Ventures. Retrieved May 3, 2012. 
  51. ↑ "Deloitte’s 2010 Technology Fast 500 Ranking". Deloitte Development LLC. Retrieved March 30, 2011. 
  52. ↑ "Inc. 5000 2010 List". Inc. Magazine. Retrieved August 22, 2012. 
  53. ↑ "Utah’s 2010 Fastest Growing Company is Castle & Cooke Mortgage". MountainWest Capital Network. October 21, 2010. 
  54. ↑ Little, Candace (January 18, 2012). "2010 Fast 50". Utah Business. 
  55. ↑ Stewart, Briana (March 10, 2010). "2010 TOP 25 Fastest-Growing Companies". Utah Valley BusinessQ. 
  56. ↑ "Deloitte’s 2009 Technology Fast 500 Ranking". Deloitte Development LLC. Retrieved March 30, 2011. 
  57. ↑ "Inc. 5000 2009 List". Inc. Magazine. Retrieved August 22, 2012. 
  58. ↑ "2009 MWCN Utah 100 – Utah’s 100 Fastest Growing Companies". MountainWest Capital Network. Retrieved March 30, 2011. 
  59. ↑ "Fishbowl Growth Validated on Local and National Scale". Fishbowl. October 26, 2010. 
  60. ↑ "2008 Technology Fast 500". Deloitte Development LLC. Retrieved March 30, 2011. 
  61. ↑ "Inc. 500 2008 List". Inc. Magazine. Retrieved August 22, 2012. 
  62. ↑ "2008 MWCN Utah 100 – Utah’s 100 Fastest Growing Companies". MountainWest Capital Network. Retrieved March 30, 2011. 
  63. ↑ "Fishbowl Named Sixth-Fastest Growing Company in Utah". Utah Business Magazine. September 2008. 
  64. ↑ "Fastest-Growing Companies". Utah Valley BusinessQ. Spring 2008. 
  65. ↑ "2007 MWCN Utah 100 – Utah’s 100 Fastest Growing Companies". MountainWest Capital Network. Retrieved March 30, 2011. 
  66. ↑ Leong, Grace (October 23, 2007). "31 Utah County firms honored". Daily Herald. 

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