Visionstate Corp. (TSXV.VIS) is a company focused on smart technology solutions that are transforming the way businesses manage facilities, operations, and sustainability efforts. Now their flagship product, Wanda is already making an impact in the facility management space and the company continues to expand its reach into new markets and technologies
John Putters, CEO and Shannon Moore, President join Lyndsay Malchuk for the latest developments.
The following is a transcription of the above video, and The Market Online has edited it for clarity.
Lyndsay: So Shannon, maybe we can actually start with you. I mean, you made a recent announcement about your sales pipeline and deployment, But first, let’s talk about the latest technology update, especially around that Ontario Bill 190. Can you explain that Bill just a little bit and what challenges it presents?
Shannon: Absolutely. So the legislative requirement, Ontario now with Bill 190 is to mandate employers to provide access to real time blogs and service records. This is really about emphasizing proper cleaning standards. At the core of it, we’re talking about compliance, we’re talking about a solid infrastructure, we’re talking about clean staff rooms in an environment where maybe those logs were manual or maybe even inconsistent. So at the heart of it, you’re talking about accurate, accessible and timestamped. And really the way to do that is you pull those requirements into electronics, to data, so that they’re accessible for everybody.
Lyndsay: Well, that’s a smart move right out of the gate for sure. So how does Visionstate’s technology help address those challenges then more so than just going into technology?
Shannon:, When we first read the bill, we were all like, this is what Wanda does and this is what we are delivering to all of our customers. But Wanda does a whole lot more than that. We also have alert systems, we have work order systems, we have communication systems, so it’s a really robust software. But the truth of the matter is not everybody needs a fully robust software, and we’re aware of that, especially with entry level into data collection. So we really studied the bill and made sure that we answered exactly those requirements, hold those out of our Wanda system and created a “Wanda Light”.
The advantage to that is giving our customers a couple of really great things. First, that gives them an easy answer that’s low cost, simple, not overwhelming, they can install it themselves, and answer the bill, but then they can also see if they like collecting this data and maybe do they want to expand on it and add some of our other functionality.
Lyndsay: So let’s move then over to the sales pipeline. Shannon, what can you tell investors about where things stand right now?
Shannon: This is a really important piece of the puzzle. Ontario obviously with this legislation is giving us a lineup and it’s starting strong in post-secondary. It’s starting very strong in municipalities and it will expand from there. It’s a requirement through all of Ontario and our sales partner bundle is bringing it to every single one of their customers as a requirement.
I would hope that as that expands, we start looking into the whole country, not necessarily because it’s a legislative requirement, but it’s the right thing to do and to ensure that these standards are met in all of their stack washrooms.
Lyndsay: So John, let’s pull you into the conversation here. In terms of deployment, what progress has been made so far and what kind of feedback are you getting from clients?
John:, I think we’re very much at the beginning of the digitalization process of the facility management industry. Everybody’s familiar with a piece of paper that’s , always in the restroom and really it’s reflective of where that was at. It was really a sign off. Well, we’re in an age of AI and analytics so you can’t really achieve your goals that way, so we’re finding now that not only is it being legislated but it’s a requirement in order to stay competitive in the industry.
What we’re seeing is a lot of our customers are leveraging this technology to get more business, in fact, because they’re saying, look, we can provide historical information and analytics. and we’re three quarters of the way through an extremely interesting AI project with Alberta Machine Intelligence Institute, which is one of the leading institutes across the world, which will have a huge impact on facility management. So we’re finding the adoption rate going up significantly. You know, it obviously helps when governments decide to legislate because that sets the direction for the future. So we’re very excited about that.
Lyndsay: So John, something investors might not be as familiar with is you have a potential 40% equity stake in s soul spaces, and they’ve been getting a lot of attention for their high tech greenhouses. So what can you tell us about the company and what they’re working on?
John: You’re right, they have developed an expertise around high-tech greenhouses and that’s done them very well, for example with First Nations communities. It’s really all about food security, I think it was bad enough with climate change issues and supply chain disruptions, but now you have tariffs on top of it all, so there’s more and more movement toward localization.
But the fact of the matter is that old technology doesn’t really work in extreme temperatures, so this is where the technology comes in. But I should also mention that’s a stepping stone for them into really disrupting the construction industry, which I think is required in order to meet goals around sustainability and affordability. It just doesn’t exist today.
So, similar to the way Tesla took the combustion engine and introduced technology to produce the electric vehicle, they’re taking the same approach to construction and we’re starting to see the results of that because it’s inevitable. So, we’re really excited about their prospects and they just keep growing leaps and bounds.
You can find Visionstate on the venture exchange under the ticker symbol VIS, and their website is visionstate.com.
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