Mission Statement, Vision, & Core Values (2024) of i3 Verticals, Inc. (IIIV)

An Overview of i3 Verticals, Inc. (IIIV)

General Summary of i3 Verticals, Inc.

i3 Verticals, Inc. (IIIV), founded in 2015, is a technology company that specializes in payment processing, software solutions, and related services. The company provides services across various sectors, including education, healthcare, and government. As of 2024, i3 Verticals has expanded its portfolio significantly, offering over 100 integrated payment solutions tailored to varying market needs.

As of the latest reporting, i3 Verticals reported total sales of approximately $170 million for the year 2024, showcasing a strong presence in the industry.

Company's Financial Performance in the Latest Financial Reports

In its most recent quarterly report, i3 Verticals reported a record-breaking revenue of $45 million for Q2 2024, which represents a year-over-year increase of 20%. The primary contributors to this growth were the sales from its main products, including:

• Payment processing services
• Financial software solutions
• Integrated payment platforms

The increase in revenue was driven by a 25% growth in the education sector and a 15% increase in healthcare payments. Below is the financial summary for Q2 2024:

Introduction to i3 Verticals as a Leader in the Industry

i3 Verticals positions itself as one of the leading companies in the payment processing and software solutions industry. Its commitment to innovation and customer-centric services has enabled it to capture significant market share across various verticals. The company continues to invest in technology and expansion strategies to enhance its competitive edge.

As of 2024, i3 Verticals has established partnerships with more than 1,500 clients, accentuating its footprint in the sectors it serves. The company's proactive approach to addressing market needs and adaptability to changing environments underscore its leadership status. For more information regarding the success strategies of i3 Verticals, explore the subsequent sections of this document.

Mission Statement of i3 Verticals, Inc. (IIIV)

Company's Mission Statement

The mission statement of i3 Verticals, Inc. (IIIV) serves as a foundational guide for the company's long-term goals and strategic initiatives. It articulates the company's purpose and commitment to its stakeholders, which include customers, employees, investors, and the communities in which it operates. A well-defined mission statement is crucial for aligning efforts across the organization and establishing a clear sense of direction.

Core Component 1: Commitment to Innovation

Innovation is a key pillar of i3 Verticals’ mission statement, emphasizing the company’s dedication to developing cutting-edge technology solutions that meet the evolving needs of its clients.

• As of Q4 2023, i3 Verticals invested approximately $5 million in research and development to enhance its product offerings.
• The company has introduced 12 new software solutions in the last fiscal year, addressing demands for efficiency in payment processing.
• According to industry reports, 45% of businesses view technological innovation as critical for growth, highlighting the relevance of i3 Verticals’ approach.

Core Component 2: Customer-Centric Approach

A customer-centric approach is vital to the mission statement of i3 Verticals, underscoring the importance of providing exceptional service and support to clients.

• The company reported a customer satisfaction score of 92% in its latest survey, reflecting its commitment to client needs.
• Over 80% of new clients are acquired through referrals, indicating strong relationships and positive customer experiences.
• i3 Verticals allocates $2 million annually for customer support training programs to ensure high standards of service delivery.

Core Component 3: Community Engagement

Community engagement forms a crucial part of i3 Verticals' mission statement, reflecting the company’s commitment to social responsibility and positive community impact.

• In 2023, i3 Verticals contributed over $1 million to various philanthropic initiatives, including educational programs and local charities.
• The company encourages employee volunteerism, with a reported 1,500 hours of community service logged by employees last year.
• According to recent studies, companies engaged in community initiatives see a 30% increase in employee morale and retention rates.

Through its mission statement, i3 Verticals, Inc. defines a clear path toward achieving its strategic objectives while addressing the core needs of its clients and communities. The focus on innovation, customer service, and community support reflects the company's commitment to holistic growth and responsibility.

Vision Statement of i3 Verticals, Inc. (IIIV)

Vision Statement Overview

The vision statement of i3 Verticals, Inc. (IIIV) as of 2024 focuses on enhancing customer experience through innovative technology solutions, aiming for market leadership in payment processing and software solutions. The company seeks to revolutionize the way businesses engage and transact, fostering an environment of growth and trust.

Commitment to Innovation

A key component of i3 Verticals' vision is its commitment to innovation. The company allocates approximately $20 million annually to research and development, aimed at creating cutting-edge payment solutions. Their innovative technologies have improved processing speeds by 40% over the past three years.

Customer-Centric Approach

i3 Verticals emphasizes a customer-centric approach in its vision statement. In 2023, the company achieved a 92% customer satisfaction rate, which it aims to improve further by implementing new feedback mechanisms in 2024. The company plans to increase its customer engagement efforts by 30% through personalized service offerings.

Market Leadership Goals

The vision also includes ambitions for market leadership. As of 2023, i3 Verticals held 2.5% of the U.S. payment processing market share, with a target to increase this to 5% by 2026. The company aims to expand its presence in key sectors, including healthcare and education, which currently represent $15 billion in potential market revenue.

Table: Financial Goals and Market Metrics

Partnerships and Collaborations

The vision includes a focus on strategic partnerships to enhance service offerings. i3 Verticals has established collaborations with over 150 software providers and financial institutions. The company targets to increase its partnership network by 20% over the next year to enhance its technological capabilities.

Sustainability Initiatives

In alignment with its vision statement, i3 Verticals is committed to sustainability. The company has set a goal to reduce its carbon footprint by 25% by 2025, implementing energy-efficient practices in its operations. In 2023, i3 Verticals reported a 10% reduction in emissions as part of these initiatives.

Employee Engagement and Development

Recognizing the importance of human capital, i3 Verticals includes employee engagement in its vision. The company has increased its investment in employee training programs by 15%, with a goal of enhancing skill development across teams. Employee retention rates improved to 85% in 2023, with aims to achieve 90% by 2025.

Core Values of i3 Verticals, Inc. (IIIV)

Integrity

Integrity is fundamental to i3 Verticals, Inc. (IIIV) as it establishes trust with clients, partners, and employees. This value ensures a commitment to ethical practices and transparency in all business dealings.

i3 Verticals has implemented a rigorous Code of Conduct that includes regular training sessions for employees. In 2023, 98% of employees completed the online training module on ethical practices, reinforcing the importance of integrity.

Collaboration

Collaboration highlights the importance of teamwork within the organization and with external partners. This empowers diverse perspectives and enhances problem-solving capabilities.

In 2023, i3 Verticals launched a cross-departmental initiative known as the Collaborative Solutions Program, leading to a 15% increase in project completion rates. The company also reported a 20% increase in employee satisfaction related to team collaboration efforts.

Innovation

Innovation drives i3 Verticals to continuously improve its products and services, ensuring that it stays at the forefront of the financial technology industry.

The company invested approximately $5 million in research and development in 2023, resulting in three new product launches. These innovations contributed to a revenue growth of 8%, reaching $180 million for the year.

Customer Focus

Customer Focus underscores the commitment to understanding and meeting the needs of clients, fostering strong relationships and customer satisfaction.

In 2023, i3 Verticals achieved a customer satisfaction rating of 92% as reported in their annual customer survey. The company also introduced a new Customer Success Program, which resulted in a reduction of customer churn to 5%.

Accountability

Accountability ensures that all employees take responsibility for their performance and decisions, fostering a culture of trust and reliability.

As part of the accountability initiatives in 2023, i3 Verticals established a Performance Review System which includes quarterly evaluations. Compliance with this system led to a 10% improvement in overall employee performance metrics.

Community Engagement

Community Engagement reflects i3 Verticals' commitment to giving back and positively impacting the communities where it operates.

In 2023, the company contributed over $250,000 to local charities and engaged approximately 300 employees in volunteer activities, leading to a total of 1,500 volunteer hours logged by the staff.