%XVLQHVVDQG7HFKQRORJ\

‡ 7KH1HW,PSHUDWLYH
‡ 7KH9DOXH&KDLQ
‡ %XVLQHVV6WUDWHJLHV
‡ %XVLQHVV&ODVVLILFDWLRQ6WDQGDUGV3ULYDF\
‡ 'LJLWDO*RRGV
‡ H&RPPHUFH$UFKLWHFWXUHV

‹  &O DXV3DKO



 7KH1HW,PSHUDWLYH

‹  &O DXV3DKO



H&RPPHUFH

‡ H&RPPHUFH
EXVLQHVVWUDQVDFWLRQVRULQIRUPDWLRQH[FKDQJHXVLQJLQIRUPDWLRQDQG
FRPPXQLFDWLRQWHFKQRORJLHV,&7

‡ H&RPPHUFHDQGWKH,QWHUQHWWKHPDLQH&RPPHUFHLQIUDVWUXFWXUH
 (',(OHFWURQLF'DWD,QWHUFKDQJH

‡ ROGHUWKDQWKH,QWHUQHW

 (OHFW URQLF0DUNHWV

‡ ROGHUWKDQWKH,QWHUQHW

 ,QWHUQHW&RPPHUFH

‡ EDVHGRQ,QWHUQHWWHFKQRORJLHV

‹  &O DXV3DKO 

 (OHFWURQLF0DUNHWV

‡ (OHFWURQLFPDUNHWV
 PDLQIXQFWLRQIDFLOLWDWHW KHVHDUFKIRUDUHTXLUHGSURGXFW RUVHUYLFH

 H[DPSOHDLUOLQHERRNLQJV\VWHPV

‡ (OHFWURQLFPDUNHWVQHHG
 FRRSHUDW LRQRIYHQGRUV

‡ SURYLGHLQIRUPDWLRQLQVWDQGDUGL]HGGDWDIRUPDW

 VHDUFKDQGFRPSDULVRQIDFLOLWLHVIRUWKHFXVWRPHU

‡ LQWHOOLJHQWDJHQWV

 PHFKDQLVPVWRGHDOZLWKHYROYLQJDQGLQFUHDVLQJYROXPHVRILQIRUPDWLRQ

‡ GDWDVWRUDJH

‹  &O DXV3DKO 

(OHFWURQLF'DWD,QWHUFKDQJH

‡ (OHFWURQLF'DWD,QWHUFKDQJH(',
 PDLQIXQFWLRQSURYLGHVWUDQVDFWLRQVRIUHFXUUHQWWUDGHH[FKDQJHV

 H[DPSOHUHWDLOFKDLQVRUFDUPDQXIDFWXUHUVW UDGHZLWKW KHLUVXSSOLHUV

‡ (OHFWURQLF'DWD,QWHUFKDQJH
 LVEDVHGRQVWDQGDUGL]HGPHVVDJHVIRUW KHW UDQVIHURIVWUXFWXUHGGDWD

‡ VWDQGDUGL]HGGDWDIRUPDWV

 IROORZVVW ULFWIRUPDOUXOHV

‡ FRPPXQLFDWLRQSURWRFROV

‹  &O DXV3DKO 

,QWHUQHW&RPPHUFH

‡ ,QWHUQHW&RPPHUFH
 PDLQIXQFWLRQDGYHUWLVLQJSURGXFWVVHUYLFHVDQGDOORZRQFHRIIGHDOVRQOLQH
WKURXJK,QWHUQHWWHFKQRORJLHV

 H[DPSOHRQOLQHVKRSVWUDYHODJHQWV

‡ ,QWHUQHW&RPPHUFHQHHGV
 IDFLOLW LHVIRUWKHFXVW RPHUWRORFDWHYHQGRUDQGSURGXFWVVHUYLFHV

‡ :RUOG:LGH:HEIHDWXUHVK\SHUWH[WGRFXPHQWVDQGOLQNVQDYLJDWLRQ

 IDFLOLW LHVWRH[HFXWHDWUDQVDFWLRQRUGHUSURFHVVLQJ

‡ FOLHQWVHUYHUDUFKLWHFWXUHV

 WRFDW HUIRUGHOLYHU\DQGDIW HUVDOHVVHUYLFH

‡ ,QWHUQHWDSSOLFDWLRQVHPDLO:HEIWS

‹  &O DXV3DKO 

 )URPH&RPPHUFHWRH%XVLQHVV

7RGD\WKH,QWHUQHWLVXVHGWR
 PDNHGLUHFWFRQWDFW ZLW KFXVW RPHUV

 LQWHQVLI\UHODW LRQVKLSVYLDVHFXUH,QWHUQHWFRQQHFWLRQV

7KLVLVH&RPPHUFH,QWHUQHW&RPPHUFH
 EX\LQJDQGVHOOLQJRYHUWKH,QWHUQHW

,QWKHIXWXUHWKHUHZLOOEHH%XVLQHVV
 WKH,QWHUQHWDVWKHFHQWUDOFRPPXQLFDWLRQLQIUDVWUXFWXUHLQWHUQDOO\DQG
H[WHUQDOO\FKDQJLQJEXVLQHVVHVIXQGDPHQWDOO\

 DQLQWHJUDWHGYDOXHFKDLQEULQJLQJVXSSOLHUVDQGFXVW RPHUVGHHSLQWRW KH
EXVLQHVVHV·RZQSURFHVVHVQHHGLQJPRUHRSHQQHVVDQGWUDQVSDUHQF\DQGDQ
XQGHUVWDQGLQJRISDUW QHU·VSURFHVVHV

%XVLQHVVWREXVLQHVVLVPXFKODUJHUWKDQFXVWRPHUVSHQGLQJ

‹  &O DXV3DKO 

(53DQGH%XVLQHVV

‡ (QWHUSULVH5HVRXUFH3ODQQLQJ(53
 SDFNDJHG,7DSSOLFDWLRQVWKDWDXWRPDWHLQWHUQDOSURFHVVLQJDQGPDQDJHVXSSO\
FKDLQV

 PDUNHWOHDGHUV6$32UDFOH%DDQ3HRSOH6RIW

‡ 7KH6LWXDWLRQ
 (53V\VWHPVSURYLGHEDFNRIILFHVXSSRUW

 (53V\VWHPVDUHUHDOLVHGXVLQJSURSULHWDU\IRUPDW V

 H%XVLQHVVQHHGIURQWRIILFHDSSOLFDWLRQV

 PRVWRIWKH(53SURYLGHUVPLVVHGWKHILUVWZDYHRIH&RPPHUFHH[FHSW
2UDFOH

‡ 7KH6ROXWLRQ"
 PLGGOHZDUHV\VW HPVVXFKDV&25%$PLJKWKHOSW RLQW HJUDWH(53DQGOHJDF\
V\VWHPVLQWRDQ,QWHUQHWEDVHGV\VW HP

‹  &O DXV3DKO 

([DPSOHV'HOO&LVFR:DO0DUW

‡ 'HOOWUDQVIHUUHGPDQ\RIWKHLUFRUHDFWLYLWLHVLQWRWKH,QWHUQHW
 RUGHUVFRPHLQW RWKHIDFWRU\YLDLWV:HEVLWHDQGFDOOFHQWHUV

 RUGHUGHW DLOVDUHSUHVHQWHGWRWKHVXSSOLHUVRQOLQHLQUHDOWLPHZKLFK

FRPSRQHQWVDUHQHHGHGKRZPDQ\DQGZKHQXVLQJWKHLUFRUSRUDWHH[WUDQHW

 VXSSOLHUVDUHSOXJJHGLQW R'HOO·VFXVWRPHUGDWDEDVHLQRUGHUW RQRWLI\FKDQJHV

LQGHPDQGLQVWDQWO\

 FXVWRPHUVDUHSOXJJHGLQW RWKHVXSSO\FKDLQVRWKDWWKH\FDQPRQLWRUWKH
SURJUHVVRIW KHLURUGHUVWKHPVHOYHVZLWKRXW GLUHFWDFWLYHLQYROYHPHQWRI
'HOO

 WKLVLVFDOOHG¶DWKUHHZD\SDUWQHUVKLS·ZLWKFXVWRPHUVDQGVXSSOLHUVRU¶DQ
LQWHJUDWHGYDOXHFKDLQ·

‡ 7ZRRWKHUFRPSDQLHVZKLFKDUHDOVRIROORZLQJWKLVVWUDWHJ\
 &LVFRVHOOVQHDUO\RIDOOQHWZRUNURXWHUVDQGQHWZRUNWHFKQRORJ\

 :DO0DUWZRUOGVELJJHVWUHWDLOHUZLOOKDYHPRUHLPSDFW W KDQDPD]RQFRP

‹  &O DXV3DKO 

 1HZ%XVLQHVV0RGHOV

‡ 7KHLPSDFWRIH%XVLQHVV
 VKLIWVSRZHUIURPVHOOHUWREX\HUVLQFHEX\HUVFDQFRPSDUHSULFHVHDVLO\WKH
QH[WVHOOHULVMXVWDPRXVHFOLFNDZD\

 SULFHVZLOOEHGLFWDW HGE\GHPDQGZKLFKLVQRWHQWLUHO\SRVLWLYHIRU

FXVWRPHUV

 FXVWRPHUVDUHXVXDOO\RYHUZKHOPHGE\WKLVQHZVLWXDWLRQWKLVRSHQVDQ
RSSRUWXQLW\IRUDQHZFODVVRIEXVLQHVVHVLQIRPHGLDU\VRPHFRPSDQ\ZKLFK
PDQDJHVDQGSURYLGHVLQIRUPDWLRQIRUDQHQGFXVWRPHULQDVXLWDEOHIRUP

‡ ([DPSOHV
 VKRSSLQJDJHQWVURERWVUHOHDVLQJSURIHVVLRQDOFXVWRPHUVIURPLQVSHFWLQJ
VHYHUDOFDWDORJVDQGPDNLQJSKRQHFDOOV

 RQOLQHUHWDLOHUVZHEEDVHGFDWDORJZLWKSRZHUIXOVHDUFKUHWULHYDOHQJLQH

 RQOLQHDXFWLRQVVXSSRUWLQJVSHFLILFSURGXFWFDWHJRULHVELJGLYHUVH
PDUNHWSODFHVORZSULFHEX\DQGVHOO

‹  &O DXV3DKO 

7HFKQLFDO$VSHFWV

7KHPRVWLPSRUWDQWWHFKQLFDODVSHFWVDFFRUGLQJWRWKH(FRQRPLVW
‡ H%XVLQHVVSXWVPRUHIRFXVRQWKHUHOLDELOLW\RIV\VWHPV
 GXHWRDKLJKGHJUHHRILQWHJUDW LRQDSUREOHPLQWKHEDFNRIILFHSDUWFDQDOVR
DIIHFWWKHIURQWRIILFHLQWHUIDFHWRVXSSOLHUDQGFXVWRPHU

 KLJKHUUHTXLUHPHQWVLQWHUPVRIVWDELOLW \DYDLODELOLW\DQGIDXOWWROHUDQFH

‡ ZLWKRXWDGHTXDWHVHFXULW\WHFKQRORJ\H%XVLQHVVEHFRPHV
XQWHQDEOH
 SUREOHP,QW HUQHWGHVLJQHGZLW KLQWHURSHUDELOLW\UDWKHUWKDQVHFXULW\LQPLQG

 LVVXHVILUHZDOOVHQFU\SWLRQDXWKHQWLFDWLRQSXEOLFNH\LQIUDVWUXFWXUHV

‡ QHZODQJXDJHV
 -DYDLVWKHODQJXDJHWROLQNDSSOLFDWLRQVDFURVVSODWIRUPVFUHDWLQJ
¶LQWHJUDWLRQZDUH·´RIDOOFRGHZULWWHQWRGD\FRQVLVWVRILQWHUIDFHV
SURWRFROVDQGRW KHUSURFHGXUHVWRHVWDEOLVKOLQNVDPRQJV\VWHPVµ

 ;0/H[W HQGLEOHPDUNXSODQJXDJHDGGLQJVHPDQW LFLQIRUPDWLRQWRGDWDLQ

GRFXPHQWV

‹  &O DXV3DKO 

&RQFOXVLRQ

7KHZD\VLQZKLFKWKH,QWHUQHWLVFKDQJLQJWKHZRUOGPD\

EHOHVVVSHFWDFXODUWKDQVRPHRILWVHQWKXVLDVWVPLJKWZLVK

EXWDJRRGGHDOPRUHSURIRXQG

$6XUYH\RI%XVLQHVVDQGWKH,QWHUQHW
7KH(FRQRPLVW
-XQH

‹  &O DXV3DKO 

  7KH9DOXH&KDLQ

‹  &O DXV3DKO



9DOXH&KDLQ

‡ 7KHYDOXHFKDLQGHVFULEHVWKHSURFHVVRIPDQXIDFWXULQJDQG
VHOOLQJJRRGV
,QHDFKVWHSRIWKHSURFHVVYDOXHLVDGGHGWRWKHSURGXFW
 VW DUWLQJZLWKWKHYDOXHRIWKHUDZPDWHULDO

 LQFUHDVLQJWKHYDOXHE\UHILQLQJWKHSURGXFW

 XQW LOLWLVILQDOO\VROG

‡ 7\SLFDOHOHPHQWVRIDYDOXHFKDLQDUH
PDQXIDFWXUHWUDQVSRUWDWLRQVDOHVSD\PHQW
‡ &ODVVLFDOO\WKHYDOXHFKDLQZDVPHDQWWRGHVFULEHWKH
PDQXIDFWXULQJSURFHVVLWFDQDOVREHXVHGIRURWKHUEXVLQHVV
DFWLYLWLHVVXFKDVUHWDLOLQJ

‹  &O DXV3DKO 

H&RPPHUFH9DOXH&KDLQ

‡ 7KHJHQHUDOYDOXHFKDLQPRGHOVKDOOEHDGDSWHGWRH&RPPHUFH

*HWDQGNHHS 7XUQLQWHUHVW 0DQDJH 6HUYLFH

FXVWRPHULQWHUHVW LQWRRUGHUV RUGHUV FXVWRPHUV

$775$&7 ,17(5$&7 $&7 5($&7

$GYHUWLVH &DWDORJ 2UGHU&DSWXUH &XVWRPHUVHUYLFH

0DUNHWLQJ 6DOHV 3D\PHQW 2UGHUWUDFNLQJ
)XOILOOPHQW

‡ 7KHYDOXHFKDLQKHOSVWRGHILQHDUHDVRIIRFXV

‹  &O DXV3DKO 

 $WWUDFW&XVWRPHUV

‡ 'UDZFXVWRPHUVLQWRSULPDU\VLWHE\
 DGYHUWLVLQJRQRWKHU:HEVLWHV

 HPDLOLQJ

 79

 SULQW

‡ 7KHQGUDZFXVWRPHUVLQWRGHWDLOVDERXWSURGXFWVRU
VHUYLFHVRQRIIHU
,PSRUWDQWIRU:HEVLWHV
 FRQWHQW

 VLWHVWUXFWXUH

 OD\RXW

‹  &O DXV3DKO 

,QWHUDFWZLWK&XVWRPHUV

‡ ,QWHUDFWLQJPHDQVWRWXUQLQWHUHVWLQWRRUGHUV
‡ 7KLVSKDVHLVFRQWHQWRULHQWHGLHLQFOXGHV
 RQOLQHFDWDORJ

 SXEOLFDWLRQV

 RWKHULQIRUPDW LRQ

,PSRUWDQWFRQWHQWFDQEHVWDWLFRUG\QDPLF
 7KHFRQWHQWRIVWDWLFSDJHVFKDQJHVLQIUHTXHQW O\

 6WDWLFSDJHVDUHSUHSDUHG

 7KHFRQWHQWRIG\QDPLFSDJHVFKDQJHVIUHTXHQWO\

 '\QDPLFSDJHVDUHJHQHUDWHGDWWKHWLPHRIWKHUHTXHVW

LIWKHJHQHUDWHGSDJHVGHSHQGRQFKDUDFWHULVWLFVRIWKHXVHUWKLVDSSURDFK
LVFDOOHGDGDSWLYHQDYLJDWLRQ

'\QDPLFSDJHVDUHRIWHQEDVHGRQLQIRUPDWLRQVWRUHGLQGDWDEDVHV

‹  &O DXV3DKO 

$FWRQ&XVWRPHU,QVWUXFWLRQV

‡ 7KHFXVWRPHUVKDVILQLVKHGVHDUFKLQJRUEURZVLQJWKHVLWH
QRZFXVWRPHUVRUGHUVKDYHWREHGHDOWZLWK

‡ 2UGHUPDQDJHPHQWLQFOXGHV
 FDSWXULQJW KHRUGHU

 SURFHVVLQJSD\PHQW

 KDQGOLQJRUGHUIXOILOOPHQW

‡ 2UGHUSURFHVVLQJLVXVXDOO\VXSSRUWHGE\VKRSSLQJFDUWVEDVNHWVD
IHDWXUHWRJURXSLWHPVIRUVKRSSLQJWRJHWKHUWRPRGLI\WKHFRQWHQW
RIWKHFDUWE\GLVFDUGLQJRUDGGLQJLWHPVRUE\FKDQJLQJTXDQWLWLHV

‹  &O DXV3DKO 

 $FWRQ&XVWRPHU,QVWUXFWLRQV

‡ 3D\PHQWWKHEX\HUKDVWRSD\0HWKRGVLQFOXGHFUHGLWFDUGV
SXUFKDVHRUGHUVDQG,QWHUQHWVSHFLILFPHWKRGVVXFKDVHOHFWURQLF
FDVK
 8VXDOO\DPHUFKDQWKDVWRRIIHUVHYHUDOPHWKRGVRISD\PHQW

 1RQHRIWKHSD\PHQW PHWKRGVVKRXOGLPSRVHWRRPDQ\UHTXLUHPHQWVRQW KH

EX\HUV\VWHP

 SD\PHQWPHWKRGVVXFKDVFUHGLWFDUGVPD\LQYROYHW KLUGSDUWLHVVXFKDVW KH

FUHGLWFDUGLVVXHU

‡ )XOILOOPHQWGHSHQGVRQWKHW\SHRIWKHWKLQJSXUFKDVHG
 SK\VLFDOJRRGVDUHGHOLYHUHGWRWKHEX\HU

 UHDOZRUOGVHUYLFHVFDQEHGHDOWZLWKOLNHSK\VLFDOJRRGDWOHDVWIURPWKH
HOHFWURQLFVLGHRIWKHV\VWHP

 GLJLWDOJRRGVHJRQOLQHVRIWZDUHGLVWULEXWLRQUHTXLUHPXFKPRUHHIIRUW

ZLWKLQWKHV\VWHP

‹  &O DXV3DKO 

5HDFWRQ&XVWRPHU,QTXLULHV

‡ 7KHFXVWRPHUPLJKWKDYHTXHVWLRQVRUHQFRXQWHUVGLIILFXOWLHVWKDW
UHTXLUHVHUYLFH
 VRPHKDYHWREHDQVZHUHGE\DSHUVRQHJIDLOXUHRIRQOLQHVRIWZDUH

 VRPHFDQEHDXWRPDWLFDOO\SURFHVVHGHJVW DWXVRIRUGHUSURFHVVLQJ

‡ ,QTXLULHVFDQEHFODVVLILHG
 FDQEHDXWRPDWLFDOO\SURFHVVHG

 FDQEHVXSSRUWHGE\RQOLQHLQIRUPDWLRQVXFKDVD)$4SDJH

 QHHGVSHUVRQDOVHUYLFHFDOOFHQWHUKRW OLQH

‹  &O DXV3DKO 

/HJDO,VVXHV

‡ H&RPPHUFHOLYHVLQVRPHOHJDOHQYLURQPHQW3UREOHPDWLFLVVXHV
DUHLQSDUWLFXODULIVHUYLFHVDUHRIIHUHGLQWHUQDWLRQDOO\

 3ULYDF\LQVRPHFRXQWULHVWKHUHDUHVW ULFWODZVRQWKHFROOHFWLRQDQGXVHRI
FXVWRPHUGDWD

 7D[DWLRQWKHVRIWZDUHKDVWRFRPSXW HWD[HVFRPSO\LQJZLWKWKHODZSRVVLEO\

LQYROYLQJGLIIHUHQWMXULVGLFWLRQVRIEX\HUDQGVHOOHU

 'LJLW DOVLJQDWXUHVVLJQDWXUHVDUHQHHGHGWRH[SUHVVDJUHHPHQW W RVRPH

VW DWHPHQWRUWRDXWKRUL]HVRPHDFWLRQEXWHOHFWURQLFGRFXPHQWVFDQQRWEH
VLJQHGE\KDQG'LJLWDOVLJQDWXUHVH[LVWEXWOHJLVODWLRQRQWKHOHJDOVWDWXVRI
WKHVHLVHLWKHUQRWH[LVW LQJRUYDULHVEHWZHHQFRXQWULHV

‹  &O DXV3DKO 

 /HJDO,VVXHV

 &RS\ULJKW FRQWHQWSURYLGHGRQWKH,QWHUQHWFDQHDVLO\EHFRSLHGPRGLILHGRU
GLVVHPLQDWHGZLWKRXWSHUPLVVLRQ7KLVDVNVIRUOHJDODQGWHFKQRORJLFDO
VROXWLRQV

 &U\SWRJUDSK\FU\SWRJUDSK\FDQEHXVHGWRHQVXUHSULYDF\LQWHJULW \DQG
DXW KHQWLFDWLRQ$JDLQOHJLVODWLRQLQGLIIHUHQWFRXQW ULHVYDULHVIURPQR
UHVWULFWLRQLQW KHXVHXSWRVWURQJUHVWULFWLRQVRQLPSRUWH[SRUWDQGXVH

‡ ,QJHQHUDOWKHUHLVVRPHXQFHUWDLQW\VLQFHWKHOHJDOV\VWHPVDUH
HYROYLQJWRNHHSWUDFNRIWKHFKDOOHQJHVWKDWDULVHIURPWKH
HPHUJLQJ,QWHUQHWWHFKQRORJLHV

‹  &O DXV3DKO 

 %XVLQHVV6WUDWHJLHV

‹  &O DXV3DKO



%XVLQHVV6WUDWHJLHV

‡ ([SORLWLQJWKH,QWHUQHWIRUEXVLQHVVFDQEHGRQHLQVHYHUDOZD\V
)RXUVWUDWHJLHVVKDOOEHLGHQWLILHG
 WKH,QWHJUDWLRQ0DVWHUW KH,QW HUQHWLVFRPSOHW HO\LQW HJUDWHGLQWKHYDOXH
FKDLQ

 WKH0DJQHWDWWUDFWLQJDFXVW RPHUJURXSE\PHHWLQJWKHJURXSVQHHGV

 WKH3LUDWHFDSWXULQJVRPHERG\HOVH·VPDUJLQV

 WKH'LVWULEXWRUIRFXVHVRQSURGXFWVVHUYLFHVHDVLHUGHOLYHUHGYLD,QW HUQHW

7UHHVHDQG6WHZDUGFDOOW KHVHVWUDWHJLHV&KDQQHO0DVWHU&XVWRPHU0DJQHW
9DOXH&KDLQ3LUDWHDQG'LJLWDO'LVWULEXWRUUHVS

‡ (VVHQWLDOO\WZRLVVXHVPDNHWKHVHVWUDWHJLHVGLIIHUHQWIURPFODVVLFDO
RQHV
 WUDQVIRUPDW LRQRIFXVWRPHUUHODWLRQVKLS,QWHUQHWDQGFXVW RPHUEDVHG

 GLVSODFHPHQWRIVRXUFHRIYDOXHPRYLQJIURPWKHSK\VLFDOZRUOGWRWKH
LQIRUPDWLRQZRUOG

‹  &O DXV3DKO 

 ,QWHJUDWLRQ0DVWHU

‡ 0DLQREMHFWLYHRIWKHLQWHJUDWLRQPDVWHULVWRGHHSHQWKH
UHODWLRQVKLSVZLWKFXVWRPHUVDQGVXSSOLHUVLQRUGHUWRVHOO
WUDGLWLRQDOJRRGVDQGVHUYLFHV

‡ ,QWHJUDWLQJWKH,QWHUQHWLQWRWKHZKROHYDOXHFKDLQLVHVVHQWLDO
 SXUFKDVHRIUDZPDWHULDOIURPVXSSOLHUVTXDQWLW LHVXSWRGDWHGHOLYHU\MXVW 
LQWLPH

 FXVWRPHUFHQWUHGLQWHUIDFHIRUVHOOLQJFXVWRPLVHGJRRGVDQGVHUYLFHV

 EDFNRIILFHKDVW REHIXOO\LQW HJUDWHGLQRQOLQHRUGHULQJVXSSOLHUVDQG

FXVWRPHUVSURGXFWLRQVWRUDJHGHOLYHU\

‹  &O DXV3DKO 

,QWHJUDWLRQ0DVWHU

&ODVVLFDOH[DPSOHV
‡ 'HOOZZZGHOOLHEX\\RXUFXVWRPLVHGFRPSXWHURQOLQH
 $W WUDFW  'HOORIIHUVDQRQOLQHFDWDORJYDULRXVFRQILJXUDWLRQH[DPSOHV
WHFKQLFDOGDW DSULFHV

 ,QWHUDFW  WKHFDWDORJDOORZVEURZVLQJVHDUFKLQJDQGFRQILJXUDWLRQRI
SXUFKDVHV

 $FW  RQOLQHRUGHUDUHSURFHVVHGLQWHUQDOO\OLQNHGWRRUGHUPDQDJHPHQW

GDWDEDVHVRUGHUVWDWXVFDQEHFKHFNHG

 5HDFW D¶SHUVRQDOLVHG·FXVWRPHUVHUYLFHGRFXPHQW DWLRQGRZQORDGVDUH

DYDLODEOH

‡ &LVFRZZZFLVFRFRPSURYLGHV,QWHUQHWVRIWZDUHKDUGZDUHDQG
VHUYLFHVVLPLODUWR'HOO

‹  &O DXV3DKO 

0DJQHW

‡ 7KHVWUDWHJ\LVWRDWWUDFWDFHUWDLQFXVWRPHUJURXSZLWKGLVWLQFWLYH
QHHGVRULQWHUHVWV

‡ 7KH:HEVLWHVKRXOGRIIHUDNQRZOHGJHVKDULQJHQYLURQPHQW

‡ 7KLVFDQEHOLQNHGZLWKRIIHULQJUHODWHGSURGXFWV

([DPSOH
‡ 7ULSRGZZZWULSRGO\FRVFRPLVDPHPEHUVKLSEDVHGVHUYLFH
SURYLGLQJLQIRUPDWLRQIRUXVHUVWREXLOWWKHLURZQZHEVLWHV

‹  &O DXV3DKO 

 0DJQHW

([DPSOH
‡ ZZZSKRWRQHW:HE6LWHDVHUYLFHSURYLGLQJDQRQOLQH
FRPPXQLW\LHDYLVLWRUWRWKHVLWHFDQDGGKHUKLVRZQH[SHULHQFH
UHODWHGWRSKRWRJUDSK\
 $W WUDFW  SKRWRQHWRIIHUVIUHHLQIRUPDWLRQRQDOOLVVXHVUHODWHGWR
SKRWRJUDSK\7KHYLVLWRUVWRWKHVLWHFDQFRQW ULEXWHWRW KH
LQIRUPDWLRQRIIHUHGIRUPLQJDQRQOLQHRU:HEFRPPXQLW\

 ,QWHUDFW  LQWHUHVWLVWXUQHGLQW RSRWHQWLDORUGHUVE\SURYLGLQJOLQNVW R

FRPPHUFLDOSKRWRJUDSK\VKRSV

 $FW  UHYLHZVRISKRWRJUDSK\HTXLSPHQW YDULRXVOLQNVWRFRPPHUFLDO

VLWHV

 5HDFW FRPPHUFLDOVLWHVSURYLGHVHUYLFHV

‹  &O DXV3DKO 

3LUDWH

‡ 7KHLGHDLVWRFDSWXUHVRPHERG\HOVH¶VPDUJLQVE\LPSOHPHQWLQJ
SDUWVRIWKHLUYDOXHFKDLQ

‡ (VVHQWLDOO\LWDLPVDWDEHWWHUVXSSOLHUFXVWRPHUVUHODWLRQVKLS

‡ 7KLVDLPLVUHDOLVHGE\OLQNLQJWKHWZRGLUHFWO\XVLQJ,QWHUQHW
WHFKQRORJLHV

‹  &O DXV3DKO 

3LUDWH

([DPSOH
‡ H%LGZZZH%LGFRXNRUHELGLHRQOLQHDXFWLRQ:HEVLWHV

 $W WUDFW  JHQHUDODQGFXVWRPLVHGLQIRUPDWLRQDERXWQHZEXV\FORVHG
DXFWLRQVDYDLODEOHUHJLVW UDWLRQIRUELGGLQJQHFHVVDU\

 ,QWHUDFW  $XFWLRQVKRXUVDGD\FRXQWHUELGGLQJFDQEHIROORZHGVHFXUHG
:HEVLWH

 $FW  DOODFW LRQVDUHDFNQRZOHGJHGE\HPDLOKLJKHVWELGGHUDQGVHOOHUDUH

QRWLILHGDXW RPDWLFDOO\DWHQGRIDXFW LRQIXUWKHUDUUDQJHPHQWVDUH
XSWRWKHP

 5HDFW WKHUHLVDKHOSGHVNGHDOLQJZLWKUHJLVWUDWLRQELGGLQJPRQH\HWF
DQGFRQWDFWLQIRUPDWLRQLVDOVRDYDLODEOH

‹  &O DXV3DKO 

 'LVWULEXWRU

‡ $GLJLWDOGLVWULEXWRUWULHVWRIRFXVRQSLHFHVRIWKHYDOXHFKDLQWKDW
FDQEHGHOLYHUHGEHWWHUWKURXJKWKH,QWHUQHW

‡ 7KHVWUDWHJ\LVWRGLVDVVHPEOHWUDGLWLRQDOZD\VRISURYLGLQJD
SURGXFWRUVHUYLFHDQGUHDVVHPEOHWKHVHSURGXFWVRUVHUYLFHVLQD
PRUHHIIHFWLYH,QWHUQHWEDVHGZD\

‡ $QHZYDOXHFKDLQKDVWREHFUHDWHGIURPVFUDWFK

‹  &O DXV3DKO 

'LVWULEXWRU

([DPSOHV
‡ 7UDYHOSRUWDOVVXFKDVZZZYLVLWLUHODQGFRPRU
ZZZHQWHUWDLQPHQWLUHODQGLH7KLVFRPSHWHVZLWKWUDYHODJHQWVDQG
PDJD]LQHVZKLFKGRQ¶WKDYHWKHSRVVLELOLWLHVRIEHLQJXSWRGDWHRU
EHLQJEDVHGRQDPRUHIOH[LEOHK\SHUWH[WVWUXFWXUH
‡ $WWUDFW FRPSUHKHQVLYHXSWRGDWHLQIRUPDWLRQRQWUDYHO

‡ ,QWHUDFW FRQWDFWLQIRUPDWLRQIRUDGYHUWLVLQJFXVWRPHUVYLVLWRUVFDQ
SRVWDQHYHQWERRNLQJIHDWXUHV

‡ $FW DGYHUWLVLQJDQGXSGDWLQJLQIRUPDWLRQ

‡ 5HDFW FRQWDFWDGGUHVV

‡ $SURWRW\SLFDOFODVVRIGLJLWDOGLVWULEXWRUVDUH:HEVLWHVRIIHULQJ
FODVVLILHGDGYHUWLVLQJZLWKOLQNVWRVHOOHUV

‹  &O DXV3DKO 

 %XVLQHVV 
&ODVVLILFDWLRQ6WDQGDUGV3ULYDF\

‹  &O DXV3DKO


 &ODVVLI\LQJ%XVLQHVVHV

‡ $QRWKHUZD\RIFODVVLI\LQJEXVLQHVVHVLVDFFRUGLQJWRWKHIROORZLQJ

W\SHV
 &RQVXPHUUHWDLO VHOOLQJSK\VLFDOJRRGVWRLQGLYLGXDOHQGFXVWRPHUV7KHVH
PLJKW YDU\FRQVLGHUDEO\LQVL]H

/DUJHZZZDPD]RQFRXN6PDOO0HGLXPZZZFRORXUVLH

7HFKQRORJLHV:HEGDWDEDVHVVHDUFKHQJLQHVFUHGLW FDUGSURFHVVLQJ

 %XVLQHVVWR%XVLQHVVFDWDORJLQJEXVLQHVVHVRIIHULQJJRRGVVHUYLFHVYLD
RQOLQHFDWDORJVWRRWKHUEXVLQHVVHV7KLVPLJKWLPSO\ODUJHRUGHUTXDQW LWLHVDQG

DGYDQFHGSD\PHQWV\VW HPV

7HFKQRORJLHVYHU\ODUJHFDW DORJGDWDEDVHVVHDUFKVXSSRUWSDUDPHWULF

VHDUFKHOHFW URQLFIXQGVWUDQVIHU

 ,QIRUPDWLRQFRPPHUFHGLVWULEXWLRQRIGLJLW DOJRRGVRQOLQHLQFOXGHVJRRGV

VHUYLFHVPDJD]LQHVHWF

7HFKQRORJLHVG\QDPLFLQIRUPDWLRQXVDJHEDVHGFKDUJLQJHOHFWURQLFSD\PHQW
V\VWHPVSURWHFWLRQLVVXHV

‹  &O DXV3DKO 

6WDQGDUGV

7KHLPSRUWDQFHRIVWDQGDUGV
‡ 6WDQGDUGVDUHDZD\RIWUDQVIHUULQJSRZHUIURPYHQGRUVWRFXVWRPHUV
‡ 6WDQGDUGVKHOSWRDVVHPEOHDFRPSOHWHV\VWHPIURPGLIIHUHQWYHQGRUV
7ZRIRUPVRIVWDQGDUGLVDWLRQ
‡ HDUO\VWDQGDUGLVDWLRQSDUWLHVLQYROYHGJHWWRJHWKHUDQGDJUHHRQ
VSHFLILFDWLRQV
‡ ODWHVWDQGDUGLVDWLRQFRRSHUDWLRQEHWZHHQSDUWLHVIRUDZKLOH
FRQYHUJHQFHRQFHVWDELOLW\LVUHDFKHGSDUWLHVZLOOJHWWRJHWKHUDQG
GHFODUHWKHFXUUHQWVWDWHDVDVWDQGDUG
6WDQGDUGVDQG,QWHUQHW
‡ VWDQGDUGVKHOSLQWHURSHUDELOLW\
‡ SUHPDWXUHVWDQGDUGLVDWLRQUHVWULFWVLQQRYDWLRQ

‹  &O DXV3DKO 

3ULYDF\

7KHSUREOHP

‡ &RQVXPHUVZRXOGOLNHWRNHHSWKHLUSULYDF\UHOHDVLQJDVOLWWOH
LQIRUPDWLRQDVSRVVLEOH

‡ &RPSDQLHVZRXOGOLNHWRJDWKHUDVPXFKLQIRUPDWLRQDVSRVVLEOHWR
EXLOWXSDGHWDLOHGFXVWRPHUSLFWXUH

‡ 7HFKQRORJLHVQHHGHGIRUEXLOGLQJ:HEVLWHVFDQHDVLO\EHXVHGIRU
SURILOLQJFXVWRPHUV

‹  &O DXV3DKO 

 3ULYDF\

$QH[DPSOH&RRNLHV
 7KH\DUHD:HESURWRFROWXUQLQJVW DWHOHVV+773FRQQHFWLRQVLQWRVWDWHEDVHG
VHVVLRQV

 %URZVHUVFDQEHUHFRJQLVHGZKHQUHWXUQLQJWRDSDUWLFXODU:HESDJH

 ,QIRUPDWLRQDERXWWKHSUHYLRXVYLVLWVLQFOXGLQJXVHUSURILOHLVVWRUHGDWWKH

YLVLWRUVVLWH

&RRNLHV$GYDQWDJHV
 VHVVLRQVDOORZVHJWRVW RUHIRUPVGDWDWHPSRUDULO\OHDYHWKDWSDJHDQGFRPH
EDFNODWHU

 DXW RPDWLFXVHUUHFRJQLWLRQ

 FOLHQWVLGHVWRUDJH

&RRNLHV'LVDGYDQWDJHV
 XQNQRZQWUDFNLQJVWRULQJRIXVHUEHKDYLRXUZLWKRXWSHUPLVVLRQEURZVHUQRW
XVHUEDVHG

 HPSOR\HUVHDUFKHVHPSOR\HH·VFRRNLHILOHV

‹  &O DXV3DKO 

 'LJLWDO*RRGV 

‹  &O DXV3DKO



6HFXUH'HOLYHU\

7KH:HEVLWHFRQWHQWLWVHOIFDQEHWKHSURGXFW7KHV\VWHPKDVWR
OLQNIXOILOOPHQWGHOLYHU\DQGVDOH
‡ OLFHQVHNH\VRIWZDUHSXUFKDVHGPLJKWEHIUHHWRGRZQORDGEXWLV
QRWRSHUDEOHZLWKRXWDVSHFLILFOLFHQVHNH\
‡ DFFHVVFRQWUROGDWDEDVHRQFHSD\PHQWLVWDNHQDQHQWU\FDQEH
PDGHLQDQDFFHVVFRQWUROGDWDEDVHZKLFKDOORZVWKHSXUFKDVHUWR
DFFHVVWKHFRQWHQWVHUYHU
‡ GLJLWDOUHFHLSWWKHFRPPHUFHV\VWHPFUHDWHVDQGVLJQVDGLJLWDO
UHFHLSWVWDWLQJWKDWSD\PHQWKDVEHHQUHFHLYHGDQGGHOLYHU\LV
DXWKRULVHG
‡ SXEOLFNH\FHUWLILFDWHVFHUWLILFDWHVDUHXVHGIRUDXWKHQWLFDWLRQLQ
SULQFLSOHEXWZLWKDFFHVVFRQWURODWWULEXWHVDWWDFKHGWRWKHPWKH\
FDQDOVREHXVHGIRUDFFHVVFRQWURO

‹  &O DXV3DKO 

 )DLOXUH

'HOLYHU\RIHOHFWURQLFJRRGVVKRXOGEHUHOLDEOHDQGDEOHWRUHFRYHU
IURPIDLOXUHRQGHOLYHU\,QSDUWLFXODUGRZQORDGLQJODUJHUVRIWZDUH
SDFNDJHVPLJKWIDLO

‡ IRUVRPHPLFURWUDQVDFWLRQVHJLIDFFHVVWRVLQJOHSDJHVLV
FKDUJHGLWLVQRWZRUWKFRPSODLQLQJ
‡ VHSDUDWLQJWKHGRZQORDGRIVRIWZDUHIURPWKHGHOLYHU\RIDOLFHQVH
NH\DOORZVUHSHDWHGGRZQORDG
‡ JUDQWDFFHVVWRDVLWHIRUDOLPLWHGWLPHZKLFKDOORZVWRGRZQORDG
VHYHUDOWLPHVLQFDVHRISUREOHPV

‹  &O DXV3DKO 

5LJKWV0DQDJHPHQW

$SUREOHPLVWRHQVXUHWKDWLISD\PHQWLVPDGHIRUDSDUWLFXODUXVHRI
DSURGXFWWKHQWKHXVHPDGHGRHVQRWH[FHHGWKHXVHDXWKRUL]HG
([DPSOHXVHUKDVSDLGIRUYLHZLQJVRPHWKLQJEXWQRWIRUSULQWLQJ
‡ IDFLOLWDWLQJFRPSOLDQFHLQDEXVLQHVVWREXVLQHVVHQYLURQPHQW
 KRVWLOLWLHVVXFKDVXQDXW KRULVHGXVHRISURGXFWVDUHUDUH

 DQHDV\ZD\WRSD\LVQHHGHG

‡ ULJKWVHQIRUFHPHQWLQDEXVLQHVVWRFXVWRPHUHQYLURQPHQW
 KRVWLOLWLHVVXFKDVXQDXW KRULVHGFRS\LQJKDSSHQPRUHRIWHQ

 FRS\LQJVKDOOEHPDGHGLIILFXOW

‡ WHFKQRORJLHV
 VHFXUHFRQWDLQHUWHFKQRORJ\FRQWHQW LVHQFU\SWHGXQORFNHGDWSRLQWRIXVH
DOORZVWRFRQWUROIRUPVRIDFFHVV

 ILQJHUSULQWLQJDQGZDWHUPDUNVPDNLQJLPSURSHUXVHWUDFHDEOH

‹  &O DXV3DKO 

 H&RPPHUFH$UFKLWHFWXUHV

‹  &O DXV3DKO


 6\VWHP$UFKLWHFWXUHVIRUH&RPPHUFH

‡ 'LIIHUHQWEXVLQHVVVWUDWHJLHVDQGEXVLQHVVPRGHOVUHTXLUHGLIIHUHQW
V\VWHPDUFKLWHFWXUHV

‡ $IHZH[DPSOHVVKDOOEHDQDO\VHG

 :HEVHUYHUZLWKRUGHUIRUP

 :HEVHUYHUZLWKRUGHUIRUPDQGVHFXUHGDWDW UDQVIHU

 GLVW ULEXW HGWUDQVDFWLRQV

 EXVLQHVVWREXVLQHVVFRPPHUFH

‹  &O DXV3DKO 

3ULPDU\&RPSRQHQWV

$IHZVRFDOOHGSULPDU\FRPSRQHQWVFDQEHLGHQWLILHGLQPRVW
H&RPPHUFHV\VWHPV

‡ FOLHQWFRPSXWHUV\VWHPVXFKDVD3&FRQQHFWHGWRWKH,QWHUQHW

)RUH[DPSOHDEX\HUXVHVDFOLHQWWREURZVHDQGSXUFKDVH
‡ PHUFKDQWFRPSXWHUV\VWHPSURYLGLQJHOHFWURQLFJRRGVRUDQ
HOHFWURQLFYHUVLRQRIRWKHUJRRGVRUVHUYLFHV
‡ WUDQVDFWLRQV\VWHPFRPSXWHUV\VWHPWKDWSURFHVVHVRUGHUVDQG
WKDWLVUHVSRQVLEOHIRUSD\PHQWDQGUHFRUGNHHSLQJ
‡ SD\PHQWJDWHZD\FRPSXWHUV\VWHPWKDWURXWHVSD\PHQW
LQVWUXFWLRQVWRH[LVWLQJILQDQFLDOQHWZRUNVVXFKDVFUHGLWFDUG
DXWKRULVDWLRQDQGVHWWOHPHQW

‹  &O DXV3DKO 

:HE6HUYHU

‡ 7KH:HEVHUYHUSURYLGHVFDWDORJSDJHVDQGDQRUGHUIRUP
‡ 7KLVFDQEHSURYLGHGE\DVLQJOH:HEVHUYHULQWHJUDWLQJPHUFKDQW
DQGWUDQVDFWLRQVHUYHUIXQFWLRQDOLWLHV
‡ 7KH:HESDJHVDUHW\SLFDOO\FUHDWHGVWDWLFDOO\XVLQJ+70/RU
G\QDPLFDOO\XVLQJ+70/DQGVFULSWLQJ&*,RUSURJUDPPLQJ
WHFKQRORJLHV-DYD
‡ $VKRSSLQJFDUGIDFLOLW\H[LVWVQRUPDOO\
‡ &UHGLWFDUGSD\PHQWLVWKHPRVWFRPPRQPHWKRGRISD\PHQW
‡ 7KLVIRUPGRHVXVXDOO\QRWUHTXLUHVSHFLDOFDSDELOLWLHVVRIWZDUHIRU
RUGHUSURFHVVLQJ

‹  &O DXV3DKO 

 6HFXUH:HE6HUYHU

‡ 6(76HFXUH(OHFWURQLF7UDQVDFWLRQVLVDVWDQGDUGZD\RIVHFXULQJ
FUHGLWFDUGSD\PHQWWUDQVDFWLRQV
‡ D6(7EDVHGV\VWHPKDVDSD\PHQWJDWHZD\VHSDUDWHGIURPWKH
WUDQVDFWLRQVHUYHU
‡ D6(7SD\PHQWJDWHZD\WDNHVRYHURUGHUVIURPWKHPHUFKDQWVHUYHU
‡ 7KHIROORZLQJSURWRFROLVH[HFXWHG
 PHUFKDQWVHQGVDPHVVDJHWRFOLHQW·V6(7ZDOOHWFRQW DLQLQJRUGHUGHWDLOVDQG
SULFH

 EX\HUXVHV6(7ZDOOHWWRHQWHUFUHGLWFDUGGHWDLOVDQGDSSURYHVW KHSXUFKDVH

 6(7ZDOOHWFRPPXQLFDWHVYLDPHUFKDQWZLWKWKH6(7SD\PHQWJDWHZD\DWWKH
PHUFKDQW·VEDQN

 SD\PHQWJDWHZD\FRQQHFW VWRDWUDGLWLRQDOILQDQFLDOQHWZRUNWRDXWKRULVHWKH
WUDQVDFWLRQ

 WKHPHUFKDQWVW RUHVW KHDFNQRZOHGJHPHQWDQGVHQGVDUHFHLSWWRW KHEX\HU

‹  &O DXV3DKO 

'LVWULEXWHG:HE6HUYHU

‡ 7KHPDLQDUFKLWHFWXUDOGLIIHUHQFHLVWKDWQRZWKHSDJHFRQWHQW
PDQDJHPHQWLVVHSDUDWHGIURPWKHRUGHUWUDQVDFWLRQPDQDJHPHQW

‡ ,QODUJHUDSSOLFDWLRQVPXOWLSOHFDWDORJVHUYHUVPLJKWVKDUHRQH
WUDQVDFWLRQVHUYHU

‡ &DWDORJVHUYHUVDUHVHFXUHO\FRQQHFWHGWRWKHWUDQVDFWLRQVHUYHU

‡ 7KHVHFXUHOLQNVFDQEHLPSOHPHQWHGEDVHGRQVHFXUHUHPRWH
SURFHGXUHFDOOV53&SRVVLEO\UHDOLVHGRQWRSRI+773

‹  &O DXV3DKO 

%XVLQHVVWR%XVLQHVV

‡ ,QFDVHRIODUJHVFDOHEXVLQHVVWREXVLQHVVEX\LQJDQGVHOOLQJWKH
ZRUNORDGVKDOOEHVKDUHG
‡ WKH2%,2SHQ%X\LQJRQWKH,QWHUQHWZZZRSHQEX\RUJ
FRQVRUWLXPKDVSURSRVHGDVWDQGDUGIRUEXVLQHVVWREXVLQHVV
FRPPHUFHRQWKH,QWHUQHW
‡ 7KHIXQFWLRQDOLW\RIDFRPPHUFHV\VWHPVKDOOEHVSOLWEHWZHHQWKH
EX\HUVDQGWKHVHOOHUVVLGH
 EX\HUFXVWRPHUGDWDEDVHUHTXLVLWLRQHUSURILOHVDSSURYDOSURFHVVHV

 VHOOHUFDWDORJRUGHUPDQDJHPHQWSD\PHQW

$FHUW DLQDPRXQWRILQWHURSHUDELOLW\LVUHTXLUHG

 UHTXLVLWLRQHUDXWKRULVDWLRQUHTXLVLWLRQHUVDUHPDLQW DLQHGE\EX\HUVVLGHEXW
WKH\QHHGWREHDXWKHQWLFDWHGE\VHOOHUV'LJLWDOFHUW LILFDWHVDUHXVHGKHUH
WKH\PXVWEHLVVXHGDQGDFFHSWHG

 RUGHUKDQGOLQJW KHVHOOVLGHVHQGVRUGHUVWRW KHEX\VLGHZKLFKKDVWRVHHN

DSSURYDOWKHQRUGHUVDUHUHWXUQHGW RWKHVHOOHUIRURUGHUIXOILOOPHQW

‹  &O DXV3DKO 

 ,PSOHPHQWDWLRQ

6RPHLVVXHVWREHFRQVLGHUHGLIWKHSUHVHQWHGH&RPPHUFH
DUFKLWHFWXUHVKDOOEHUHDOLVHG
‡ ZKRSURYLGHVEDVLFVHUYLFHV"
 ,QWHUQHWVHUYLFHSURYLGHU,63FDQSURYLGHWKHLQIUDVW UXFW XUHIRUVPDOO
V\VWHPV

 &RPPHUFHVHUYLFHSURYLGHUV&63HJ%DQNVSURYLGHW UDQVDFWLRQVHUYLFHVIRU
WKHILQDQFLDOVLGH

‡ WKHUROHRIVWDQGDUGV>DOUHDG\GLVFXVVHG@
‡ URXQGWKHFORFNRSHUDWLRQPRVWO\DVWDIILQJSUREOHP
‡ VHFXULW\GHVLJQLVRIFULWLFDOLPSRUWDQFHIRUVXFFHVVLQFOXGHVQRW
RQO\GHVLJQFRQVLGHUDWLRQVVHFXULW\KDVDOVRWREHPRQLWRUHGDQG
HYDOXDWHGFRQWLQXRXVO\

‹  &O DXV3DKO