I just attended Verses Technologies' (VERS.N) investors' webinar so I thought I would share some highlights from it.
The main speakers were Capm Petersen (VERS' Chief Information Officer) and Chris Maydaniuk (the President and COO of NRI, VERS' main warehouse partner)
Petersen shared that VERS' goal is to add spatial context to data, specifically "what is it and where is it", thus bringing a shared context to AI, machines, and humans.
4-5 years ago VERS was focusing on "Smart City" initiatives. However, after speaking with someone from NRI they realized that the tech they had been developing for cities could be easily applied to warehouses.
With this, VERS created Wayfinder, a spacially-smart order picking application for warehouses.
Since implementing Wayfinder at their warehouses, Maydaniuk from NRI says that efficiency has increased by 30-40% and NRI has been able to add 5 distribution centres.
Maydaniuk said that VERS' technology gave the company much-needed flexibility over the pandemic, making it easy for him to send employees to new warehouses as Wayfinder would allow them to seamlessly adapt to the new environment.
Maydaniuk also seemed confident that the success Wayfinder has had at NRI will replicate in other contexts.
Overall it was a solid presentation, espically if you are interested in the ins and outs of how VERS' tech has been applied at NRI. If I am able to find a link to the full presentation I will make sure to share it here.
Right now VERS is trading stable @ $0.98, MC is $50.871M