Loading data...

News Releases

Investor news releases are listed chronologically and archived by year. Subscribe to the Venzee email list or RSS feed to receive investor-relevant news as it's released.

Venzee customer uses Venzee to update retailers

Trans Globe Lighting, a leading manufacturer of residential lighting to retailers including Walmart, Amazon and The Home Depot, is expanding its use of Venzee Technologies Inc. to support its 100-plus additional retailers.

Using artificial intelligence, Venzee transforms product information from suppliers and manufacturers into the requirements of retailers, eliminating a labour-intensive process. Recent research has shown that 94 per cent of spreadsheets contain errors after deployment, a problem solved using Venzee's platform (source: Supply Chain DIVE).

Peter Mackay, chief executive officer of Venzee, commented: "Venzee represents substantial return on investment for both vendors and retailers by removing an unnecessary step from their product workflow. By removing this step, Venzee eliminates human error, reduces human resources and increases margins which is critical for e-commerce businesses to be successful.

"We're thrilled to be expanding our relationship with Trans Globe Lighting, who have utilized our platform not only to update some of their largest retailers, but to sync with their supply chain in China. They're a great example of a forward-thinking brand in the residential lighting space," added Mr. Mackay.

Venzee provides high-value customized SaaS (software-as-a-service) solutions to Tier 1 enterprise clients around the world. Additionally, it accommodates the budgets of smaller retailers, with pricing starting from $49 (U.S.) per month for paying members.

According to Statista, in 2016, the global e-commerce industry achieved estimated $1.8-trillion (U.S.) in sales, and is expected to grow to $4.5-trillion (U.S.) by 2021. As e-commerce sales continue to grow at staggering rates, the need for better delivery of product information for businesses is now solved with the Venzee software solution.