Stressed Retail and Healthcare Supply Chains Increase Adoption of Machine to Machine Integration
CHICAGO, March 24, 2020 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") has joined the Chicago-based COVID-19 Innovation Coalition to offer advanced Supply Chain services, technical resources, and relevant logistics expertise to suppliers and health care providers facing unprecedented demand amid the Novel Coronavirus outbreak.
The COVID-19 Innovation Coalition is a network of entrepreneurs, software developers, engineers, designers, and industry experts providing the City of Chicago, local hospitals, and other entities with relevant expertise to facilitate fast, new responses for front-line challenges affecting our populations.
Venzee CEO John Abrams said, "While demand for Supply Chain automation and integration has begun to strain our company and platform resources, Venzee will make Chicago and Milwaukee-based experts available to suppliers and health care providers as requested through the COVID-19 Innovation Coalition."
According to Mr. Abrams, "Chicago has long been a hub of Supply Chain innovation and a global example of resilience in the face of challenge. I have no doubt that our 'Second City' - with its high concentration of product content management and distribution expertise - will lead the way in solving immediate and long-term challenges facing the global Supply Chain."
Organized in early March, the COVID-19 Innovation Coalition brings together leading innovation centers, mHUB, MATTER and 1871, to collaborate and mobilize the Chicago-area technology ecosystem around designing solutions that can directly support in the fight against COVID-19. Earlier this year, Venzee joined the Illinois Technology Association and 1871 to attract additional technical, engineering, and Supply Chain talent to support increased Venzee growth and integration demand.
Chad Kaczmarek, Senior Director of Integrations at Venzee said, "Health care and retail Supply Chains are under unprecedented stress. We have an obligation to share our expertise to aid in global Supply Chain improvement. I believe automated, machine to machine integration is the path forward to improving and sustaining eCommerce. With our partners, we will continue to grow our ability to rapidly deliver Supply Chain improvement and create durable and resilient solutions that effectively respond to - and help us move past - this global pandemic."
Added Mr. Abrams, "While our COVID-19 response and expanding governmental restrictions provide some operational challenge, we are fully prepared. Our shift in 2019 to a global virtual workplace provides our clients with 'follow the sun' implementation and support resources. And, as a company, we continue to operate on-plan. We are seeing accelerating growth in our client base and associated revenue. We have additional reserve in the bank and are operating above our in-place 24-month plan."
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, resilient, 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 terms of the Offering, the completion of the Offering and 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]