Venzee Reports Second Consecutive Month Exceeding Retail Channel Integration Targets - A Leading Indicator of Per-Channel Revenue Generation
Last-Mile Retail Solution Provider Indicates Continued Strong Channel Demand
CHICAGO, Aug. 20, 2020 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") has added additional revenue-generating retail channels to its platform - outpacing internal growth targets and meeting client demand for digital integration across the valuable "last-mile" of global retail.
According to Venzee CEO John Abrams, "We completed our pivot to a partner-driven selling model in the first half of the year and immediately began to see higher client demand for retail channels. Because Venzee generates revenue through retail channels available on its platform, our ability to quickly satisfy channel demand from clients ensures we remain on pace to meet our revenue goals for the back-half of 2020."
In July, the Company began monthly reporting metrics indicating the number of revenue-generating retail channels available to clients through its SaaS Platform.
In addition, the Company began to indicate "Pipeline Velocity" - the speed at which it is able to make available new retail channels from which it derives revenue, attracts new clients, and generates retailer engagement.
In its August report, the Company again indicates strong growth of its key metrics with rapid Retail Channel growth indicating good operational improvement and continued client demand.
Retail Channel Availability - Monthly Metrics
- July Retail Channel Availability - the number of unique retail channels available to clients using the Venzee platform solution - was 178.
- Between July 15 and August 15, the Company added 63 additional Retail Channels to its platform - a 25% improvement over the previous month - indicating improved operational efficiency when it comes to adding revenue-generating channels to its platform.
- On August 15, Retail Channels Available through the Company's platform totaled 263 or 87% of the Company's 2020 year-end operational goal for available channels.
Peter Montross, EVP Commercial Operations for Venzee, said, "Because our clients face growing pressure to deliver more digital information to more retailers, our ability to rapidly add revenue-generating retail channels to our platform directly ties to our revenue growth. I am very pleased with how quickly our operations team has responded to client demand for more channels in support of our revenue goals."
The Venzee Retail Solution bridges the data gap between brands and their retailers. By using modern tech to close this gap, manual process can be eliminated from the "last-mile" of the global retail supply chain allowing brands, retailers, and consumers to realize modern, hyper-efficient processes and unlock massive value trapped in outdated manual, and labor-intensive systems.
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 processes, 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.
Rethinking Supply Chain
Now available on Apple, Spotify, and other Podcast services, Venzee CEO, John Abrams, shares his expertise from years of work in the global supply chain - alongside other industry experts. On the show, we dive into all aspects of the supply chain. We discuss the history of the supply chain, how it is changing, and what makes for a resilient supply network in today's rapidly changing world.
To learn more about Venzee, visit venzee.com
On Behalf of the Board,
John Sexton Abrams
President and CEO
Venzee Technologies, Inc.
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.
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