NEWS ANNOUNCEMENT THIS MORNING!Great news- Can't keep up with retail channel connections. Currently 400 retail connections in the pipeline and the Company has added additional resources and automation workflows that simplify Venzee's Internet-standard retail integration model. This bodes well for the future earnings of Venzee. Q3 and Q4 2020 and forward will definitely indicate where Venzee future growth is going. Enjoy this atificial intelligence A.I. growth story.
Venzee Expands Retail Integration Core
CHICAGO, June 11, 2020 /CNW/ -
Venzee Technologies Inc. (TSX-V: VENZ) ("Venzee" or the "Company") responding to a marked increase in demand for retail channel connections, today announced a set of process and technology changes that facilitate more rapid retail "plug & play" connections and enhanced workflow capabilities to satisfy manufacturer demand.
Built to leverage modern Machine Learning and AI tools, the Venzee platform operates in the critical "last mile" of supply chain - automating the flow of digital product information from brands and manufacturers to their retail partners.
The Company has previously reported a significant number of available retail channel connections. However, with global supply chain challenges accelerating in March, requests from brands for more automation of retail channel connections resulted in a channel backlog.
In response to the backlog, the Company has added additional resources and automation workflows that simplify Venzee's Internet-standard retail integration model.
According to Chad Kaczmarek, Sr. Director of Integrations at Venzee, "With the changes we have implemented - and announced today - we can more quickly respond to new retail channel requests and can reduce our existing backlog of more than 400 channels."
Beginning in July, the Company will issue metrics indicating retail channel connections and operational progress against its retail channel backlog. The Company expects to satisfy existing demand and all new retail channel requests in stages over the next six months and will reflect status in future reporting.
Said Mr. Kaczmarek, "While operating with some level of channel backlog is normal, demand for automated retail content distribution surged during the early stages of the COVID-19 pandemic and we were not prepared for that level of demand. The technology improvements we have now implemented better equip Venzee to meet existing and future demand for retail channel integration."
John Abrams, CEO of Venzee added, "Most of the content distribution solutions in the market today struggle to integrate beyond a handful of retail connections. The Venzee platform was designed to provide integration to many thousands of retailers."
Rethinking Supply Chain Podcast Now available on
Apple and
Spotify, Venzee CEO, John Abrams, shares his expertise from years of work in the global supply chain - alongside other industry experts. On the show, we dive into all aspects of the supply chain. We discuss the history of the supply chain, how it is changing, and what makes for a resilient supply network in today's rapidly changing world.
About Venzee 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 process, 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 Venzee, visit
https://venzee.com/.
On Behalf of the Board,
John Sexton Abrams
President and CEO
Venzee Technologies, Inc.
john@usevenzee.com 604-767-8778