Retail Tech Solution Provider Sets Ambitious Plan to Exceed 10K Automated Global Retail Connections
VANCOUVER, Jan. 15, 2020 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") has announced completion of functional integration to more than 250 of the world's largest retail destinations, growing revenue-generating retail endpoints above plan.
John Abrams, President and CEO of Venzee said, "while achieving integration with so many large retailers is an important milestone for the Venzee team, today we also announce a more ambitious goal: providing a single, simple, standards-based interface to more than 10,000 diverse global retailers - something no other distribution solution offers brands, partners, retailers, or manufacturers".
According to Chad Kaczmarek, Venzee's Sr. Director of Integrations, "continued, rapid growth of our retail connection base positions Venzee as the preferred content distribution solution for any brand, manufacturer, or distributor looking to expand and simplify content delivery to a larger group of retail channels".
In 2019 Venzee set a goal of connecting to all of the 250 largest retailers - as identified in Deloitte's annual retail ranking (Global Powers of Retailing, Deloitte Touche Tohmatsu Limited). In December 2019 the company achieved its connection growth goal and anticipates generating additional operating revenue in the coming quarters as a direct result.
Venzee offers a Software as a Service (SaaS) technology platform used by brands and others in retail trade as a means to displace labor and manual processes in favor of integrated, "machine-driven" solutions.
Mr. Kaczmarek, a retail industry veteran, noted: "By automating content distribution, brands get more product information in front of more global consumers with less effort and less cost. With our goal now to offer our client base more than 10,000 retail integrations, the Venzee platform is a key growth option for brands looking to expand their global retail consumer base".
Studies released by IBM Research Insights* at the National Retail Foundation's "Big Show" in New York this week suggest digital transformation of retail trade is underway and accelerating.
Commenting on this retail trend, Mr. Abrams said, "Brands and manufacturers are clearly looking for more efficient ways to grow sales channels and satisfy consumer demand for expansive product information. Venzee's intelligent, automated, digital transformation platform helps those companies meet global consumer content demand with less effort, less labor, and less cost".
* Research Insights, "Meet the 2020 consumers driving change - Why brands must deliver on omnipresence, agility, and sustainability" Copyright IBM Corporation 2020.
We believe intelligent supply chain functionality is inevitable and will significantly benefit growers, makers, brands, sellers, regulators, and consumers.
At Venzee, we're building the foundation for a future where seamless, accurate, automated data flow simplifies process, removes friction, and creates value for all those that rely on the myriad of data and information surrounding any product, anywhere.
Venzee's mission is to unlock shareholder value by creating intelligent technology that removes friction from the global supply chain. Our products disrupt and displace inefficient manual processes in favor of integrated, machine-driven solutions.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the expected use of the net proceeds received by the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's management's discussion and analysis for the year ended December 31, 2018 and the quarter ended August 29, 2019, which are available under the Company's SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Venzee Technologies Inc.
For further information: Venzee, Investor Relations, Caleb Jeffries, Kin Communications Inc., 1-866-684-6730, [email protected]