Traditionally, Virginia Interactive’s business model is based on a self-funded approach where we build applications at no up-front cost and in exchange receive a market accepted transaction fee each time a service is accessed. Virginia Interactive’s self-funded business model allows the government entity to provide a wealth of eGovernment services without the use of any appropriated tax dollars. Whether our projects are funded via transaction or time and materials fees, we are committed to being our customer’s best partner by delivering a solution that not only exceeds their expectations, but also user friendly.
Self-funded ModelVirginia Interactive, operating without the use of any tax dollars or appropriations, employs seven staff members. The self-funded model is the most popular payment option. VI breaks out the cost for services including maintenance, support, customer service, total solution cost, operation, support, marketing and hosting. Each project we work on has a custom pricing approach specific to the government entities.
The self-funded model is heavily based on convenience fees. Transaction fees are absorbed as part of the statutory or pre-determined costs as set by the partner providing the service. Conveniences fees are small costs added to the base amount and are typically charged to the consumer.
Using the self-funded model, Virginia Interactive becomes a major stakeholder in every project. Our success relies on the timely completion of efficient, highly used solutions.
Time and Materials Model
While Virginia Interactive’s primary funding is based upon the self-funded model, in certain cases, a time and materials approach to subsidize the development costs for a service may be the best fit for our partners. Our rates are significantly lower than market fees, which, when combined with our superior customer service and long term commitment, provide unparalleled value.
Hybrid ModelVirginia Interactive’s flexible funding approach also includes the option to fund a project through significantly reduced up-front development fees, if a transaction or convenience fee model is available, but limited.