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VANCOUVER, Oct. 22, 2019 /CNW/ - Venzee Technologies Inc. (TSX-V:VENZ) ("Venzee" or the "Company") is pleased to announce the addition of two additional revenue-generating Fortune 1000 manufacturing clients based in the United States and acquired through Venzee's previously announced partner engagement sales model.
Both clients are marquee name global manufacturers using the Venzee platform for automated and accurate content delivery to retail destinations. Both clients will generate significant on-model, recurring revenue for Venzee in line with its aggressive growth plan.
Venzee is a SaaS-based platform that replaces manual processes in the retail supply chain with automated, machine-to-machine integration.
According to Peter Montross, Vice President, Enterprise Business at Venzee, "Our ability to provide an integrated 'black box' distribution solution to our content management partners affords them selling advantage and very significant value to their clients. Integrating best-in-class content management solutions with Venzee's best-in-class distribution is a win for any brand dealing with global retail content demand."
Venzee's modern API integration is built to be more reliable, efficient, and cost-effective than manual entry legacy processes and helps ensure manufacturers, brands and retailers remain consumer-relevant in today's chaotic, efficiency-driven retail market.
John Abrams, President, and CEO of Venzee said, "The addition of these two globally recognized companies not only provides Venzee with on-model revenue growth but validates our sales model and highlights the power of our platform to drive beneficial and profitable transformation of the global retail supply chain. With five contracted partners, four others in negotiation, and more than 160 active retail integrations, Venzee is poised for significant growth."
Through its partner engagement model, Venzee gains access to tens of thousands of brands, suppliers, manufacturers, and retail clients worldwide.
Following SaaS-based revenue model, Venzee recognizes recurring monthly revenue based on the number of retail connections in use by a brand, supplier, or manufacturer. And, with unrelenting pressure on brands, suppliers, and manufacturers to grow global retail channels from dozens to hundreds, and in some cases, thousands of retailers, Venzee is in a unique position to dramatically scale revenue with each retail connection each month.
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 accelerates 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.
Venzee operates as a Software as a Service (SaaS) platform, allowing flexibility for enterprise customers of all sizes wishing to improve their digital supply chain solutions. To learn more about Venzee, visit https://venzee.com/
On Behalf of the Board,
John Abrams, President and CEO
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.