The IQ Business Group
Encyclopedia
The IQ Business Group is a South Africa
based management consulting firm
, with operations in Australia
and the United States
. It was founded in July 1998. IQ's offering is to "understand business strategies and combine project management
and process thinking
to deliver pragmatic outcomes;"http://www.iqgroup.com/global/about_us/who_we_are/ its tagline is "Intelligence. Applied." It is particularly active in the financial services
industry. It also operates in the government sector, and in health-care and telecommunications focusing on service delivery. These activities are supported by a software and technology business unit, and risk management
and training practices.http://free.financialmail.co.za/report08/iqbusiness/aiq.htm
s were Nedbank
, HCI and Investec.
A number of joint venture
s took place and by early 2001, the business was valued
at ZAR
1 Billion. At that time, IQ was the largest unlisted technology company in the country. The business was later plagued by the fall from grace of technology stocks worldwide, with the fall of the Nasdaq
and the subsequent depression of markets after September 11. It had invested in a number of non-core technology based businesses that had to be sold or shut in a turnaround project for the group. The business was restructured in the process, and returned to profitability.
During 2004, Dirk Ackerman, ex Dimension Data
and Nedbank
, joined the business as CEO. Nedbank, HCI and Investec sold out of the business and new BEE
and institutional shareholders joined the business. The business has continued to provide consultancy and technology services since then, and has subsequently created a risk consultancy
, acquired a training and learning business Hi-Performance Learning .
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
based management consulting firm
Management consulting
Management consulting indicates both the industry and practice of helping organizations improve their performance primarily through the analysis of existing organizational problems and development of plans for improvement....
, with operations in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. It was founded in July 1998. IQ's offering is to "understand business strategies and combine project management
Project management
Project management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals. A project is a temporary endeavor with a defined beginning and end , undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value...
and process thinking
Business process improvement
Business Process Improvement is a systematic approach to help an organization optimize its underlying processes to achieve more efficient results. The methodology was first documented in H. James Harrington’s 1991 book Business Process Improvement. It is the methodology that both Process...
to deliver pragmatic outcomes;"http://www.iqgroup.com/global/about_us/who_we_are/ its tagline is "Intelligence. Applied." It is particularly active in the financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
industry. It also operates in the government sector, and in health-care and telecommunications focusing on service delivery. These activities are supported by a software and technology business unit, and risk management
Risk management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities...
and training practices.http://free.financialmail.co.za/report08/iqbusiness/aiq.htm
History
IQ was started with the intention of becoming the premier process and technology consultancy and outsourcing business in South Africa, using the low cost environment to become a base for processing transactions for banks, insurance companies and healthcare businesses globally. It was originally headed up by Johan Roets (SA) together with Chris Sinclair, Patrick Crooks and Ricardo Rosa. Its shareholderShareholder
A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....
s were Nedbank
Nedbank
Nedbank is one of the largest banks in South Africa; however it is one of the newest banks to be incorporated in South Africa. It is headquartered in Johannesburg...
, HCI and Investec.
A number of joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
s took place and by early 2001, the business was valued
Business valuation
Business valuation is a process and a set of procedures used to estimate the economic value of an owner’s interest in a business. Valuation is used by financial market participants to determine the price they are willing to pay or receive to consummate a sale of a business...
at ZAR
ZAR
ZAR may refer to:* South African rand, ISO 4217 currency code* South African Republic, * Zairean Airlines, Democratic Republic of the Congo ICAO code...
1 Billion. At that time, IQ was the largest unlisted technology company in the country. The business was later plagued by the fall from grace of technology stocks worldwide, with the fall of the Nasdaq
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
and the subsequent depression of markets after September 11. It had invested in a number of non-core technology based businesses that had to be sold or shut in a turnaround project for the group. The business was restructured in the process, and returned to profitability.
During 2004, Dirk Ackerman, ex Dimension Data
Dimension Data
Dimension Data Holdings is a South African company specializing in information technology services, with operations in Europe, Asia, Australia, the Americas and the Middle East & Africa.In 2010, the company was fully acquired by Nippon Telegraph and Telephone....
and Nedbank
Nedbank
Nedbank is one of the largest banks in South Africa; however it is one of the newest banks to be incorporated in South Africa. It is headquartered in Johannesburg...
, joined the business as CEO. Nedbank, HCI and Investec sold out of the business and new BEE
Black Economic Empowerment
Black Economic Empowerment is a programme launched by the South African government to redress the inequalities of Apartheid by giving previously disadvantaged groups economic opportunities previously not available to them...
and institutional shareholders joined the business. The business has continued to provide consultancy and technology services since then, and has subsequently created a risk consultancy
Risk management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities...
, acquired a training and learning business Hi-Performance Learning .
External links
- Corporate website
- Corporate Report: The IQ Business Group. Financial MailFinancial MailFinancial Mail , is a South African business publication focused on reaching the country's top business people. This weekly publication, which was launched in 1959, underwent a major "look and feel" change in 2006, which saw it reclaim its position as the most widely read English business weekly in...
, October 2008. - The IQ Business Group: Private Company Information. BusinessWeekBusinessWeekBloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...