Confirms Full-Scale Launch of Price Tracking Solution
- Now in the early revenue-generating phase with encouraging sign-up rates
- Excellent validation of SpotLite platform from beta test clients including recognised brands Dyson Australia, ASUS Brazil and leading online retailer Kogan
- SpotLite is applicable to retailers and brands of multiple industries, sizes and geographies
- Adds another recurring revenue stream to IVO - subscriptions from $A39.00 to $A499 per month
- Expected to generate in excess of $1 million in annualised revenue in first 12 months
In December 2016, Invigor announced the launch of SpotLite (see ASX announcement 15 December 2016 - http://www.abnnewswire.net/lnk/16XMC53V),
a software-as-a-service (SaaS) platform developed by the Company to provide the market with access to real-time competitive pricing data and analysis across a broad range of retail segments.
SpotLite is already adding to Invigor's growing and increasingly diversifying revenue base with sign-ups now occurring. A SpotLite subscription is priced at between $A39.00 and $A499 per month, and Invigor confirms that the division will deliver in excess of $1 million of annualised revenue in the first 12 months. Given beta testing has taken place in both Australia and Brazil, SpotLite can now be marketed domestically and internationally, and across multiple sectors.
Invigor's Chairman and CEO Gary Cohen commented: "With the successful and full-scale launch of SpotLite, Invigor has firmly established itself as the leading pricing intelligence provider in Australia, with growing reach into international markets.
"With our Insights Retail platform and now SpotLite, we can deliver the very best SaaS-based market intelligence solutions to a broad target market - from large organisations through to the high volume SME market - a huge future revenue pool that we are now tapping.
"Particularly noteworthy is some of the endorsements we have received for SpotLite. One beta test customer, ASUS Brazil, has quickly realised the benefits of SpotLite with the data generated on their products and competitor products facilitating rapid tactical decisions with their sales and marketing initiatives.
"We are now fully focused on aggressively promoting SpotLite so we deliver our first year revenue targets and ensure it becomes a much larger part of Invigor's growing revenue mix.
"Invigor now has three revenue-generating platforms all firing simultaneously - Insights, Condat, and now SpotLite. We are intent on making sure all continue to grow rapidly and we look forward to reporting on the successes of each in the near term. All businesses have new contracts pending which we will progressively announce."
An industry press release which provides more detail on SpotLite is available on Invigor's website at www.invigorgroup.com and further background on SpotLite is available at http://www.spotlite.com.au
About Invigor Group Ltd
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.
Invigor Group Ltd