Dapasoft Inc. is a well-established IT Consulting Group with approximately 100 employees based in Toronto, with a focus on software development and integration.
Established in 1997, Dapasoft Inc. has grown to be a well-established IT Consulting Group in the Canadian marketplace, with a rapidly increasing staff of over 100 skilled talents to date. Founded and CEO Stephen Chan shares his road to success, which he has since parlayed into a bevy of successful endeavours.
Dapasoft is a Microsoft Gold Certified Partner with competencies in Business Process and Integration, Custom Development, Data Management and Information Worker solutions. Dapasoft’s major verticals are in the Healthcare, Pharmaceutical, Government, Steel Manufacturing, and Financial industries.
My goal as an entrepreneur? There is no goal. I am simply having fun and enjoying it! Being an entrepreneur comes naturally to me.
Stephen Chan is not only the founder and CEO of Dapasoft Inc., he was personally responsible for its growth and development. Stephen has used Dapasoft’s success to establish new companies and build strategic partnerships, and currently holds leadership positions in the following companies and organizations:
- President and CEO of Mayer Information Technology Inc., an IT firm that specializes in ERP software solutions for the recycling industry.
- CEO of Fetal Medicine International Inc., which specializes on education, training, audit assessment in the field of fetal medicine.
- Co-Founder and Board of Directors of Catalyst Health Inc. Based in Kelowna, BC, Catalyst Health provides state-of-the-art Resident Management Systems for Long Term Care Facilities in North America.
- Board of Director of CEO Fusion Center, York Technology Alliance and the Clean Tech Angels Network
As you can see, Stephen is quite the busy entrepreneur! He shares his wisdom and experience here first-hand as he tells us his story of building up Dapasoft and himself to where it all is today. A story of entreprenurial spirit, adventure, and drive.
What was it that motivated you to start your business?
I was working for one of largest consulting groups in North America prior to 1997. An outside project opportunity triggered my departure to set up Dapasoft as a new business entity, to take advantage of this.
Where did your business’s seed capital come from and how did you go about getting it?
There was no seed capital required. Right from the get go, consulting income from our first jobs funded the growth of the company.
Tell us about Dapasoft.
We sell consulting services. Dapasoft has one of the best healthcare integration teams in Canada. Our teams have extensive experience in the design, development, integration and implementation of custom business solutions to help clients achieve excellence within their industries.
We now also have our own product. Our Corolar product is our first major off-the-shelf product. It is a Health Level Seven International (HL7) Standards based healthcare integration platform.
How did you brand Dapasoft and market its services?
So far, most of our business has been through referrals. Dapasoft’s brand has been built up to where it is now without the aid of a sales and marketing arm. Our success comes from our clients seeing the value in our work, and referring others to us because of that.
Could you give us a brief description of your biggest success so far?
We started a multi-million dollar project in 2009 and we had to compete with some of the largest companies in the world to get there. This project uses state of the art technology. We also had to collaborate with a global team that spanned multiple cities and continents. Dapasoft quickly became the central hub for the entire global team developing this project. The project was completed recently, and has been very successful.
What makes your services unique and better than other offerings?
In our domain of expertise, we have a very unique and strong team which helped differentiate us from our competition. Our Corolar product is the first of its kind in the market.
I’m sure that your Management team had a significant impact on the successes of these projects. How did you build up your Management Team?
Leadership is a rarity. Our management team was formed through 14 year of business relationships and internal promotions.
What other insights do you have from building and attracting your workforce?
Dapasoft is a vibrant and exciting place to work, with an excellent environment for professional and personal growth. To attract and retain talent, you have to offer them a future, not just a career. The key people at Dapasoft understand the future of this company, and that is why they are here.
You are only given 100 years to live. The best part is knowing that you have not wasted it.
What other milestones has Dapasoft celebrated recently?
We started a province-wide healthcare registry project in 2010. The application is slated to go live at the end of 2011.
Our Corolar product was launched about a year ago. It is now already in 15 major healthcare organizations in Canada and the USA.
With these successes behind you, do you have plans to expand to new Markets?
We are beginning to explore Europe and the Asia-Pacific markets. We have had multiple teleconferencing discussions with European and Asian prospective clients. Recently our President was a keynote speaker in Barcelona to talk about our healthcare integration practice. We also plan for an entrance into the Chinese markets within 2 years.
On to a more personal note now, what are your goals as an entrepreneur?
There is no goal. I am simply having fun and enjoying it! Being an entrepreneur comes naturally to me.
What is your exit strategy?
None so far.
Do you have any other ventures you are working on?
Dapasoft already has 7 sister companies (which we have founded or invested into). Including: An ERP Solution for Recyclers with 42 clients worldwide. A Resident Management System for Long Term Care Facilities, which is now doing extremely well. An eLearning portal for Fetal Medicine. A company that provides solutions for Infection Control. And finally, a Portal for Car Dealerships.
How do you define Success?
For me, success is when you control your own destiny. When you know that you are now your own boundary.
To what do you most attribute your successes?
Three things were the most important. Number one was being at the right place at the right time. Establishing a high level of integrity and trust. And delivering on the fundamentals.
If you were to recommend a book or movie to a young entrepreneur, what would it be?
How has being an entrepreneur affected your life?
It has been very satisfying. But because I have been so busy, I have not had a chance to take a vacation since 1997. So I am slightly afraid that I may have lost a bit of my perspective on various things. But overall it has still been a very satisfying experience.
What is the best part about owning your own business?
You are only given 100 years to live. The best part is knowing that you have not wasted it.
If you had the chance to start over again, what would you do differently?
I have always given and never take quite enough back. Perhaps I would be a bit more selfish and return more to my family and myself.
Success is when you control your own destiny.
The Seasoned Entrepreneur
Dapasoft was just one success story that Stephen had to share. With multiple successful companies running in conjunction with each other, and a seat on the boards of three large groups, new opportunities will always be appearing for him.
From all this, the most important lesson that we can take away from this is really best said in Stephen’s own words. The keys to success are; Being at the right place at the right time. High level of integrity and trust. Delivering on the fundamentals.
To upack that a bit, Dapasoft’s success came about as a result of taking an opportunity as it was presented, a chance when it was ripe so to speak. But more importantly, building up trust, integrity, and delivering on your promises is the real key to success. That is what allowed Dapasoft to grow to where it is today on referrals. That is what attracted and retained those business leaders over 14 years. That is how you build a business.
We have now all had a chance to learn a bit about how Stephen became as successful as he is. And I really do hope that it inspires you, the readers, to keep an eye open for opportunities, and like Stephen, to work hard and make it to success too.
For more information on Dapasoft Inc. click this link. For more information on the hugely innovative Corolar product, click here.
