Venzee Technologies Inc

Using Application Programming Interface (API) in Supply Chain Management

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Overview

Venzee Technologies Inc (TSXV:VENZ) is a data transformation platform that can seamlessly integrate the world’s largest retailers with their suppliers, bringing products to market faster than ever before. Venzee’s API replaces manual data entry, resulting in a digital supply chain that increases margins and accelerates revenue. Venzee is leveraging its technology to partner with established supply chain leaders to deliver a real time solution to a global audience.

To date, Venzee has developed an API that enables data to flow seamlessly across disparate systems for any database, in any industry, across any system limitation, enabling digitized data aggregation and distribution and automatic transformation of data to meet endpoint requirements. Focused on enhancing the adoption of its API, Venzee is revolutionizing the way e-commerce is conducted.

In addition, Venzee has identified that the same challenges exist in blockchain where companies from multiple industries are looking to add blockchain and smart contracts to their data strategy. To help address this emerging space, Venzee recently announced Mesh, their patent pending developer framework, which leverages their core technology to connect everyday apps and enterprise solutions with blockchain networks for the purpose of data exchange. Venzee has formed with a partnership with a product information management (PIM) provider in Europe, further expanding the company’s reach into the global retail market.

Venzee provides its technology to a variety of retail industries and their client list includes the following companies: Eurostyle, Avondale LLC, Amer Rugs, Venue, Littman Bros Lighting, Trans Globe Lighting and Elk Group International, among many others. Venzee has also announced that ELK Group International has required its retailers to use the Venzee platform to access ELK product content and images by the end of 2018. ELK Group represents 1,200 retailers including Wayfair, Leon’s and Belami.

Company Highlights

  • Early mover in addressing a specific data issue for the global retail industry with limited competition
  • Using API technology to eliminate roadblocks in supply chain management and data exchange between retailers and their supply chain
  • Venzee API is compatible with all PIM, CMS, DAM, ERM and MDM systems
  • Developing blockchain-based tool using existing proprietary software solutions
  • Expanding client base includes Eurostyle, Avondale LLC, Amer Rugs, Venue, Littman Bros Lighting, Trans Globe Lighting and Elk Group International.
  • Led by management team experienced in launching successful technology solutions
  • Developed partnership using LANSA’s PIM solutions with Venzee’s data distribution capabilities
  • Strategically partnered with European-based PIM provider.

The Venzee Way

Problem to solve

Using its API technology, Venzee transforms product information from suppliers and manufacturers into the requirements of retailers, eliminating a labor-intensive process. Recent research has shown that 94 percent of spreadsheets contain errors after deployment, a problem solved using Venzee’s platform (source: Supply Chain DIVE). The primary reason for this industry-wide roadblock is that vendors and retailers tend to use different enterprise resource planning (ERP) and PIM systems that are incompatible in terms of how they catalogue information. As such, the information has to be downloaded into an excel spreadsheet and manually updated to share with the retailer, requiring additional time and resources, and increasing the potential for human error.

Being an ever-moving space that requires accurate data to be available in real time, the ecommerce retail industry has now begun looking for solutions to help address these challenges. To address these challenges, Venzee has partnered with LANSA to provide a comprehensive content solution for companies looking to organize and optimize product information and to efficiently and effectively distribute that information to their retailers and distributors. Venzee has also partnered with a PIM provider based in Europe, expanding the company’s customer base to include high-volume product manufacturers, large retailers and global distributors from Europe.

Venzee’s solutions

To address this logistical issue faced by the retail industry, Venzee has developed a cloud-based, API that enables data to flow across disparate systems for product information coming from vendors to meet the requirements of retailers like Walmart, Amazon, Wayfair and Bed, Bath and Beyond as well as ecommerce solutions like Shopify and WooCommerce. This unprecedented solution—which can be implemented by either vendors or retailers—immediately removes the need for labor-intensive manual entries, freeing up time and resources and thus allowing vendors to get products to the marketplace more efficiently.

“Venzee is systematically revolutionizing the way e-commerce does business, saving retailers and vendors time and money” said Venzee Founder Kate Hiscox. “From automatic product feeds to content generation, we’re constantly innovating technology that gets products online and into the marketplace fast.”

To date, Venzee has gathered a global client base of leaders within the retail industry supply chain and is helping them to automate their processes. With a near-term goal of expanding its client base and facing limited competition, the company plans to use its current clients to help influence further adoption of the Venzee solution among partner retailers, manufacturers and suppliers.

Building off of the technology used to build the API, the company is also developing the solution to be compatible with blockchain networks.

Management

Peter MacKay—President, CEO & Director

Peter MacKay is an experienced executive with an entrepreneurial mindset and a proven track record of building and growing successful technology businesses, spanning 20 years and including two successful exits plus a public listing. He founded Expert Agent in 2003, the leading real estate SaaS solution in the United Kingdom with more than 14,000 realtors and almost 9 million home buyers as clients. He has a proven track record of effective team building and business execution. Prior to joining Venzee Inc. in June of 2017, he was from 2003 to 2012 Managing Director at Websky Ltd. (Expert Agent), and from 2014 to 2015 Chief Operating Officer at PDT Technologies Inc., a global, full-service product design and development firm which is now called Kabuni Ltd. and is traded on the Australian Stock Exchange.

Issa Nakhleh—CFO

Issa Nakhleh joins Venzee from Tuangru, a SaaS company that manages a network infrastructure of complex organizations, including facilities, IT, virtual and cloud where he served as Chief Financial Officer since 2017. Previously, Mr. Nakhleh worked with companies such as Ultrasonix and UrtheCast, and has previously held the title of Chief Financial Officer at TIR Systems Ltd., which grew from $2 million to $30 million in annual revenues.

Marco Sylvestre—CTO

Marco Sylvestre is a certified Scrum Master. Scrum is a methodology that allows a team to self-organize and make changes quickly, in accordance with Agile principles. Agile project management is an iterative approach to planning and guiding project processes. Prior to joining Venzee in 2014, he specialized in converting methodology for large development teams at Fortune 100 companies, from Waterfall, to Agile, including from 2012 to 2014, as a management consultant at Pyxis Technologies. His prior experience also includes six years at Ubisoft in leadership positions that encompassed development and quality assurance. Marco Sylvestre has a degree in Management of Information Technology from HEC Montreal.

Dan Jeffries—Chairman of the Board

Dan Jeffries is currently Director of Distribution Operations Canada at Coca-Cola Refreshments. He has worked across many functions within Coca-Cola Canada, and most recently he has led Distribution and Fleet for all Distribution Centers across the country. Prior to this role he was the VP of Operations for Western Canada overseeing the Warehouse, Distribution and Fleet teams. Before moving to the logistics side of the business he had many years in Sales and General Management including leading the Lower Mainland team for five years.

Brian Budd—Independent Director

Brian Budd, has served as a director of a number of public company boards and is a current director of Graphite One Resources Inc. and Siyata Mobile Inc. He is managing director of Live Well Exercise Clinic since September 2017, was Director and President of North Country Gold Corp. from February 2014 to May 2015 and Director and CEO of Altiplano Minerals Ltd. until July 2014. He has extensive management and corporate development background with several years of entrepreneurial and sales leadership experience in the high tech and resource industries. He served as a director of sales for the Canadian division of a multi-billion-dollar software company from 2000 to 2009, assisting in the areas of penetrating new markets, hiring/developing sales teams, implementing sales techniques/strategies and building pipeline.

Michael Clark—Independent Director

Myke Clark brings 18 years of media, public affairs and marketing experience with a variety of public and private companies. He has held senior public affairs, branding and strategic communications roles in the natural resource and project development industry. Formerly SVP Business Development for Finavera Wind Energy (now Solar Alliance Energy Inc), he also spent more than 10 years as a journalist with the Canadian Broadcasting Corporation and other news organizations. He is also a director of Solar Alliance Energy Inc. He has been Senior Manager, Strategic Communications and Public Affairs, Hunter Dickinson Inc. since 2013 and was prior to that Vice-President of Corporate Development for Solar Alliance Energy Inc.


 

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