NIC: Building the E-Government Interface
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We have experienced the surge of B2B, B2B, and C2C. What about G2G or B2G or G2C? That is, government to government, business to government, and government to consumer. These three segments represent the e-government marketplace.
Government is the antithesis of the Internet. It is slow, resists change, and has high barriers of entry. However, the Net represents a great avenue for governments -- because the Net helps to reduce costs.
National Information Consortium (EGOV) is at the forefront, looking to dominate the e-government marketplace. Simply put, NIC designs, builds and operates Internet-based portals on behalf of state and local governments to provide access to government information and to complete government-based transactions online.
This e-government interface allows businesses and citizens to access government information and to complete government-based transactions. Some examples of applications include: professional license renewals, Internet tax filings, driver's license and motor vehicle record searches, automated UCC file searches and automobile registration renewals.
Yesterday, NIC's stock closed at $46-1/2. The range this year has been $11-1/4 to $78. The company went public on July 20, 1999.
The company is gaining ground. Revenues soared to $57.0 million for the year ended December 31, 1999 compared to the previous year's $28.6 million.
NIC has been expanding its business via acquisitions. Last month, the company made a particularly savvy move by purchasing SDR, a provider of Internet-based applications for governments. SDR designs and develops online election and ethics filing systems for federal, state and local government agencies. eFed is another company that NIC purchased.
The e-government marketplace is still in its infancy. So far, NIC has made much progress with its first-mover advantage. Continue to see much more action from the company -- and for shareholders.
----- "B2G is the next wave! The barriers-to-entry and market opportunities are greater than B2B. EGOV clearly has the first mover advantage..." Discuss it here
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