Special Edition of the AI Eye: CEO of VSBLTY Groupe Technologies Corp. (CSE: $VSBY.C) (OTC: $VSBGF) Discusses Selection as a Preferred Vendor for Seneca Labs, division of Arrow Electronics (NYSE: $ARW)
Point Roberts, WA and Delta, BC - September 16, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering Artificial Intelligence issues a special edition of The AI Eye, reporting on recent news from VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTC: VSBGF) (5VS.F), a leading retail software and technology company using artificial intelligence.
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The #AI Eye: CEO of VSBLTY Groupe Technologies (CSE: $VSBY.C) Talks about Selection as a Preferred Vendor for Seneca Labs, a division of Arrow Electronics (NYSE: $ARW)
VSBLTY Groupe Technologies Corp.'s (CSE:VSBY) (OTC: VSBGF) (5VS.F), recent selection as a preferred vendor for Seneca Labs' visual media products solutions is a game-changer, according to the former's CEO and co-founder, Jay Hutton.
In an interview with Investorideas.com, Hutton broke down VSBLTY's relationship with Seneca Labs, a division of Arrow Electronics, Inc. (NYSE:ARW), specifically the latter's first-of-its-kind integration software, named Maestro. According to the recently announced press release, "Maestro comes preloaded on digital media players, which can be ordered complete with CMS [content management solutions] and/or with software analytics that provide audience measurement". Hutton explained that the impetus for Maestro was to remove roadblocks for customers who typically have had to assemble their processor in parts.
"Instead of just selling the Lego blocks - the principal building blocks of digital signage [like] screens and processors - now, really for the first time, they've decided to launch this program called Maestro," he said. "And Maestro's objective is to offer solutions as opposed to piece parts; instead of building the Lego blocks, how about the entire Lego model?"
Part of this convenience, according to Hutton is the inclusion of software in the solution.
"These guys ship several hundreds of thousands of these processors per year and what they told us as they were preparing to build this program, is that most of the time when they ship a processor, it doesn't have a software load on it," he said. "So they felt that this was an opportunity to ease the process of procurement and provide customers options that are already loaded onto the machine when it arrives at the customer's dock."
It's probably clear enough why this convenience appeals to customers, but Hutton said it benefits both buyer and seller.
"For Seneca, the idea of including these components is a streamlining of procurement," he said. "So, anything that streamlines or makes the whole procurement process more efficient yields more revenue and sales and that's what's in it for Seneca. What's in it for us is, we don't have to touch the procurement process at all."
VSBLTY's relationship with Seneca Labs is not new. Hutton explains that the company's selection as a preferred vendor was gradual and hard-won.
"We've been working with them for probably four years," he said. "It started initially pretty modest. Over time, we've developed a reputation with them that we do what we say we're going to do, and the product performs extremely well."
Hutton pointed out that VSBLTY is the only company that is providing CMS and analytics for Seneca.
"We are among three vendors that are doing that with them for our content management solutions and our audience analytics or computer vision solution," he said. "We are, interestingly enough, the only vendor that is doing both for them."
"Content management solutions are well known and understood and we're one of the key and leading players in that category. So, we're one of a few vendors that are pre-loading our software on all the units they ship. The aggressive part is audience analytics. That's the software that is using computer vision and camera technology to report on and provide reporting of audience. That is the aggressive part, because that is a little known but exploding category."
As the press release indicates, however, the digital signage market as a whole is growing rapidly, with projections that it's anticipated to reach $31.71 billion USD by 2025, and even Hutton admits that the CMS field appears crowded from afar. But what separates VSBLTY from the rest of the pack, Hutton says is the computer vision's relationship with the CMS.
"The idea here is that the content management system is informed and triggered by the context delivered to it by the computer vision," he said. "That makes us unique. And that is where the industry is going, frankly."
"For VSBLTY the big benefit of this relationship is that we provide solutions both in the content management category and in the audience analytics category. For us, to combine the two under one umbrella is a perfect application for us."
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