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CHICAGO, May 13, 2021 /CNW/ - Venzee Technologies Inc. (TSXV: VENZ) ("Venzee" or the "Company") announces today continued application, development and use of artificial and augmented intelligence technology now deployed to optimize active client operations.
Venzee, a "smart tech" Software as a Service (SaaS) platform, is used by Consumer Brands to move critical, consumer-facing product information to any global retailer.
According to Venzee CEO John Abrams, global retail scale and increased operational complexity require modern technical solutions. "The 1940s era standards and structures that govern most electronic data interchange (EDI) and data pool solutions available in retail trade don't meet the pressing need for infinite product data expression that Consumer Brands must deliver to remain relevant in today's 'endless aisle.'"
Said Mr. Abrams, "the Venzee platform is designed to open Artificial Intelligence and Machine Learning tech to simply connect Consumer Brands to their retail partners and engaged consumers. Our technical and operations teams have built easy access, 'self-service' tools Consumer Brands can rapidly deploy to get relevant data to retailers and consumers anywhere."
Artificial Intelligence and Machine Learning present enormous disruptive potential to the supply chain and retail industries. Venzee is strategically applying intelligent technology to its operations to optimize client operations and drive revenue.
Venzee Vice President of Product Development, Marco Sylvestre, said, "AI is the most critical component in achieving our self-serve syndication goal. Augmenting human intelligence with machine learning is a "smart" approach to syndication, intelligently designed for instant access to infinite retail connections."
Continued Mr. Sylvestre, "AI is the digital version of Six Sigma's continuous improvement that facilitates the technological resilience and scalability needed to maintain a competitive edge in the market."
Radically simpler than alternatives, Venzee's Mesh Connectors™ are unique in the market, system agnostic and infinitely scalable. Venzee's intelligent platform offers partners and brands a reliable, machine-to-machine interface that accelerates the distribution of product information to any retail destination.
With more than 400 major retail Mesh Connectors™ available to clients, Venzee has become an important tool in the simplification and automation of syndication processes for brands globally.
About Venzee Technologies, Inc.
Venzee (TSX-V VENZ) is a disruptive, smart tech SaaS platform which provides infinite scale for consumer brands to send product data to all of their retailers. Venzee displaces costly, labor-intensive last-mile retail processes with a low-cost, intelligent platform solution.
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.
To learn more about the Venzee platform, visit venzee.com.
On Behalf of the Board,
Venzee Technologies, Inc.
Kin Communications, 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.