July 9, 2019
Vancouver, BC – Venzee Technologies Inc. (TSX-V: VENZ) (the “Corporation” or “Venzee”) a SaaS platform for the intelligent distribution of product information to thousands of retailer connections, is pleased to announce an advanced level of integration with Riversand, a cloud-native Master Data Management (MDM) and Product Information Management (PIM) provider.
Earlier this year, Venzee and Riversand announced a strategic partnership to enable brands to instantly and efficiently communicate actionable product detail to trading partners to meet the growing demand from consumers for accurate and reliable product information.
Riversand’s current, advanced level of integration features automated, intelligent distribution of product content for clients, complete with two-way communication. Through Venzee’s Mesh API, Riversand can connect their clients directly to retailers to automate the distribution of complete, accurate, and consumer-relevant product attributes to thousands of retail destinations such as Amazon, Walmart, Target, Overstock, and more. Client product data, originating in the Riversand platform, flows through Venzee and out to retail channels, where, on successful receipt, the retailer can send back status messaging to Riversand, completing the feedback loop. Venzee certifies all retailer connections, indicating where advanced API integrations are possible for channel partners, which enables partners to keep track of retailer technology as the industry matures and to prioritize implementation accordingly.
The relationship continues to build momentum for the Company, positioning Venzee to be a major industry disruptor. Venzee’s intelligent distribution solutions allow trading partners to exchange an infinite range of attributes, supporting the growing range of product requirements including basic ASIN information, GS1 standard weights and measures, trade attributes to support A+ Content, and even vendor specific regulatory content.
Rich, detailed, and readily available product information removes consumer confusion, frustration, and disappointment, helping to create durable brand trust and retailer loyalty. In today’s rapidly changing retail market, trust and loyalty are more than important, they are the keys to brand relevance and retailer survival.
Riversand’s strong product information management capabilities integrated with Venzee’s modern, intelligent content distribution platform gives brands and retailers the optimal solution to satisfy consumer demand for the rich, detailed content critical to transformation and growth in today’s dynamic retail market.
“Riversand’s solution provides brands and manufacturers with the ability to manage an increasingly complex array of attributes associated with their products,” says Sudu Gupta, Riversand’s director of Data Syndication and Strategic Alliances. “Venzee’s focus on highly-automated and intelligent distribution of that well-curated product content is critical to both brands and retailers. Together, we’re creating a highly efficient and friction-free path that moves relevant product information to its destination quickly.”
“The Riversand and Venzee teams continue to make great strides to strengthen our partnership and leverage our strengths to build out powerful integration capabilities,” says Peter Montross, VP Enterprise Business at Venzee.”Along with Venzee’s syndication solutions and certified retailer network, brands and retailers can leverage Riversand’s best-in-class, cloud-native PIM and MDM platform for a streamlined solution that allows them to compete more effectively and efficiently in the ever-accelerating modern retail marketplace.”
Legacy product content distribution was a poorly synchronized, linear transaction. In today’s cloud-connected, non-stop retail market, consumers expect rich, relevant content delivered instantly, anywhere. Legacy content syndication solutions fail to meet the dynamic needs of modern consumers. As an all API, cloud-based distribution platform, Venzee exceeds the content delivery expectations consumers, brands, and retailers demand.
Venzee’s channel partners are supply chain technology providers for global brands, manufacturers and retailers which include Product Information Management (PIM), Master Data Management (MDM), Digital Asset Management (DAM), Enterprise Resource Planning (ERP) and Electronic Data Interchange (EDI) companies. Venzee aims to integrate its Mesh API to enrich their core offering as the delivery platform for product information to online retailers. Examples of existing channel partner clients include Amazon, Costco, Walgreens, Loblaws, ConocoPhillips, GAP, General Motors, BMW, Chevron, Indigo, Bosch, Kawasaki, Brightstar, Polaroid, and Weber to name a select few.
The combined solution of our partners’ core technology coupled with Venzee as the delivery platform has been demonstrated to some of the largest brands, manufacturers, and retailers in the world. Using Venzee in their demonstrations, Venzee’s technology partners are winning net new business with improved content distribution capabilities.
About Venzee
Venzee is an intelligent content distribution solution that eliminates inefficiencies in the digital supply chain by delivering consumer-ready product information to retailers via a peer-to-peer network. Powered by our core technology, Mesh, Venzee automates content exchange workflows that increase margins and accelerate revenue. Through a suite of products, we provide customized solutions for enterprises of all sizes, meeting each client’s desired level of sophistication and automation.
Venzee operates as a Software as a Service (SaaS), allowing flexibility for enterprise customers of all sizes wishing to improve their digital supply chain solutions. To learn more about Venzee, visit https://venzee.com/
On Behalf of the Board
Peter MacKay, President and CEO
peter@venzee.com
Forward-Looking Information
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 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 its latest annual information form filed August 29, 2018, 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.
Venzee, Investor Relations
Caleb Jeffries
Investor Relations, Kin Communications Inc.
1-866-684-6730
VENZ@kincommunications.com
