Venzee Empowers Manufacturers, Brands and Retailers to Rapidly Scale by Automating the Delivery and Receiving of Accurate, Consumer-Relevant Product Information
VANCOUVER, April 10, 2019 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("The Company") is pleased to announce that it has completed a second integration of its Venzee Mesh API content distribution platform with a previously announced Product Information Management (PIM) channel partner, following the release of its next-generation API.
This technology channel partner is focused on digital supply chain solutions for mid-size and enterprise brands and manufacturers globally and is the most recent PIM partner to have integrated with the next-generation Venzee Mesh API. The integration enables the automated distribution of complete, accurate product content to several retailers and ecommerce platforms including Walmart, Amazon, Shopify, eBay, and other certified connections in the fast-moving consumer packaged goods (FMCG) and consumer packaged goods (CPG) retail verticals.
Peter MacKay, president and CEO of Venzee said, "Adding an additional channel partner in quick succession demonstrates the urgent need brands and PIM solutions have to automate, simplify and revolutionize their approach to product content distribution to retailers. We believe we have the most advanced solution in the market, and, by enriching our channel partners existing technology and relationships, we are very well positioned to become a leading provider of product content distribution for some of the largest brands and manufacturers around the world."
Venzee's intelligent product content distribution platform optimizes digital supply networks with automation, eliminating the inefficient manual processes that can result in unreliable product information, poor customer satisfaction, inaccurate brand representation, and an estimated $100 billion in returns for retailers each year.
According to CrowdAnalytix, inaccurate product data costs over $100B per year in online retail due to inaccurate product descriptions, mismatched color/size and product appearing different from the image on the online store.
Through five signed channel partnership agreements, Venzee has access to more than 100,000 brands and manufacturers and is strongly positioned to deliver the most advanced content distribution system in the market that works seamlessly for the entire digital supply chain. The Company remains in advanced discussions with over 30 additional potential channel partners.
Venzee is an intelligent content distribution solution that eliminates inefficiencies in the digital supply chain by delivering consumer-ready product information to retailers via a peer-to-peer network. Powered by our core technology, Mesh, Venzee automates content exchange workflows that increase margins and accelerate revenue. Through a suite of products, we provide customized solutions for enterprises of all sizes, meeting each client's desired level of sophistication and automation.
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 execution of the Company's growth strategy, the expected results from the entering into of partnership agreements, the expected results from Venzee's Channel Partner Program, the use of, and expected results from, Venzee's technology by end users and Venzee's expected revenue generation. 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, 2017 and its latest annual information form filed August 29, 2018, 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 Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Venzee Technologies Inc.
For further information: Investor Relations, Caleb Jeffries, Kin Communications, Tel: 604-684-6730, [email protected]