Visionstate Focuses on Market Expansion for WANDA in 2023 as OMICRON variants continue to spread
EDMONTON, Alberta - January 5, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to unveil its 2023 business objectives for its wholly owned subsidiary, Visionstate IoT Inc. (“Visionstate” or the “Company”), which provides proprietary software to the facilities management industry to track and monitor cleaning and maintenance activities.
Company President to host virtual information session on corporate plans
Among the objectives for 2023 is the introduction of a new pricing model under the software as a service model (SaaS), which will generate additional revenues as Visionstate moves toward value pricing.
“Visionstate has demonstrated the value of its software in tracking and monitoring cleaning activities, essential for disease prevention,” explained Shannon Moore, President of Visionstate IoT Inc. “With demand for our software increasing, the Company believes this is the right time to adjust our license fees to meet the demand for our product.”
Currently, WANDA™ is installed in diverse industry verticals across Canada, the US and more recently, Europe. The Company’s mobile app is easy to install, quick to deploy, and provides advanced analytics for facility managers to ensure cleaning protocols are being met. The focus on effective cleaning has dramatically increased because of COVID 19 and its many variants that continue to challenge healthcare practitioners globally.
“WANDA™ is an essential part of the new cleaning protocols that have been introduced over the past two years,” explained Moore. “Archaic paper-based methods of tracking this information are no longer effective and are being replaced by applications that can provide the analytics and reporting required to ensure a clean and safe facility.”
Along with license fee adjustments, the Company is also focused on expansion into new markets outside of Canada. Visionstate already has a foothold in the US market through a large reference client but will be focused on expanding the Company’s presence in key geographical locations. In 2022, Visionstate secured a foothold in Europe as well, with installations in a hospital network in Belgium, providing a reference customer for expansion throughout Europe as well.
Meanwhile, the Company continues to build new functionality into its WANDA™ software to further expand the potential applications for the software. The new features include upgraded analytics dashboards, easier set ups and scalability to accommodate large facilities such as universities, stadiums and school divisions.
“With the added functionality we can further expand our market penetration,” said Moore. “We are exploring other verticals such as home health care to further scale the technology to track patient care.”
The Company is holding a virtual information session on Thursday, January 12, 2023 at 2 pm MST (4 pm EST) hosted by Visionstate President Shannon Moore. Please join us for this presentation which will be followed by questions and answers. The meeting link is as follows:
https://zoom.us/j/99181039071?pwd=aTRVc3JBTUZHeEowRmgrNGFjN210UT09
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Through Visionstate Inc., it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Tel: 780-425-9460
Email: shannon@visionstate.com
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@chfir.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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