Invigor's Insights Visitor Revenue Grows with New Contracts and Growing Pipeline
Sydney, Dec 12, 2016 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor") is pleased to report that the pipeline of new contracts for its Insights Visitor platform has strengthened significantly, with a strategic new contract being awarded in the Events sector. There is over $1m in annualised revenue from contracts together with those where we are in advanced stages of negotiations.
- Over $1M annualised revenue from new contracts, together with those where we are in advanced negotiations
- Strategic new contract in the Events sector
- Qualified pipeline of over $3M annualised revenue across multiple sectors including retail precincts, transport hubs, hospitality, tourism, conventions, stadiums and major events
- Level of inquiry and bidding activity is at record levels with 32 different groups assessing the platform
There is now a qualified pipeline of annualised revenue of $3m from Insights Visitor projects.
Contract terms are typically for a minimum of two to three years with Insights Visitor now starting to make a meaningful contribution to Invigor's overall revenue base as well as providing strong recurring revenue stream.
Invigor is very pleased to note that the level of inquiry for the Insights Visitor platform, and the conversion of inquiries into formal tenders, is at record levels. New contracts are currently being negotiated and tenders submitted across multiple industry sectors including transport, retail shopping precincts and centres, stadiums, hospitality, tourism, conventions and major events.
The Insights Visitor platform provides a deep understanding into who is frequenting a location or venue, how long they stay there, and which areas they visit. This information can then be used to shape marketing and promotional initiatives and at-site activities that relate to the specific consumer.
Insights Visitor is a unique analytics and customer engagement platform that caters for bricks and mortar locations and major population centres. The proprietary hardware and software uses WiFi and a range of other sensors to assist venue owners and operators in delivering additional revenue streams, reducing costs and increasing operational efficiencies by better understanding customer tastes and preferences as well as the utilisation of physical spaces.
Invigor's Chairman and CEO, Mr Gary Cohen, said: "The pipeline of new contracts and tenders for Insights Visitor is very encouraging and take up is at record levels. What is particularly noteworthy is the breadth of inquiry from different industry sectors with more than 32 different groups currently looking to deploy the platform to enhance their respective revenue streams.
"It is evident that shopping centre owners, event organisers, transport authorities and tourism bodies are now looking beyond providing free WiFi in order to achieve greater monetisation from this infrastructure.
This is what is underpinning the significant growth in new contract wins and the record pipeline of bidding activity for Invigor.
"We are confident that new revenue streams will continue to materialise and the pipeline of tenders will also rapidly scale up beyond current levels. Our investment in Insights Visitor is now starting to really deliver."
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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