Venzee Lights Up Additional Retail Connectors for an Existing Consumer Goods Customer
Venzee’s Mesh Connectors™ Increase Product Information Speed to Market for Brand During Global Supply Chain Crisis
Vancouver, BC – Venzee Technologies Inc. (TSX-V: VENZ | OTCQB: VENZF) (“Venzee” or the “Company“), the artificial intelligence (AI) platform for product data, reports today increased demand for retail connections driven by existing partner and brand clients.
The Venzee platform offers consumer brands a simple digital path to more than 500 global retailers. Using Venzee’s proprietary Mesh Connectors™, brands reduce complexity and cost they face trying to keep pace with demand for retail data amid today’s supply chain challenges.
Growing demand for additional Mesh Connectors™ comes from a client who began using the Venzee platform in Q4 2021 and has seen measurable operational gains as a result.
According to Chad Kaczmarek, VP of Customer Delivery and Engagement at Venzee, “Last year, we proved to the client the value of our platform with rapid syndication to two of their many sales channels. More importantly, we were able to apply our AI tools to optimize the configuration and mapping of their data to meet all of their retail channel requirements.”
In Mr. Kaczmarek’s assessment, “Our platform allowed the client to reduce the time spent on each retail driven task, affording them an easier path forward with any of their retail channels. With that proven labor savings, it just made sense for them to expand syndication through Venzee to additional sales channels using our extensive range of available Mesh Connectors™.”
Venzee CEO John Abrams said, “Again, we see that initial use of the Venzee platform leads to increased demand of our Mesh Connector™ product, resulting in scalable revenue from our existing customers. This validates our advanced technology and positions us for significant growth.”
With more than 500 major retail Mesh Connectors™ instantly available to brands, Venzee has become an important tool in the simplification and automation of syndication processes for brands globally.
The company has previously announced it is in advanced contract negotiations with three potential customers, that if secured, would result in the Company exceeding its 2022 Mesh Connector™ sales targets of 13,000 and associated revenue. There is no certainty that these partnerships will close.
Venzee (TSX-V: VENZ | OTCQB: VENZF) is the leading artificial intelligence platform for product data used by global brands to speed time to market and create competitive supply chain advantages. Venzee’s intelligent platform automates inefficient last-mile retail processes with a frictionless, machine-driven solution for sending and receiving product data.
Venzee believes intelligent supply chain functionality is inevitable and will significantly benefit growers, makers, brands, sellers, regulators, and consumers. Venzee is 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 unlocks shareholder value by carrying out its mission to create intelligent technology that removes friction from the global supply chain. Its Mesh Connector™ product disrupts and displaces inefficient manual processes in favor of integrated, machine-driven solutions.
To learn more about Venzee, visit https://venzee.com/
Follow us on:
On Behalf of the Board,
Chief Operating Officer
For more information, contact:
Investor Relations Manager
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.