Chantilly, Virginia April 12th, 2021: Vision IoT (or the “Company”) announced the signing of a new agreement with one of the largest North American soft drink bottlers to deploy their patented Smart Vision technology. Smart Vision is an IoT solution that captures photos of coolers or ambient shelves then uploads to Vision’s Harbor IoT platform for analysis. Once analyzed Harbor’s advanced alert engine compares the “realogram” to the client’s “planogram” and routes any alerts regarding out of stock, compliance issues or cooler misplacement to the responsible party to be resolved quickly.
“We began this journey back in 2017 with mostly Bluetooth devices deployed across several markets as that was what the business case of our clients would support” said Austin Groves, CEO of Vision IoT. “Our technology has come a long way since then and now in 2021 most of our clients in North America and Europe are seeing the cost of a store visit increase to almost $75 USD. This combined with the impact on the environment and the added risk of COVID-19 makes it more important now than ever that store visits are optimized to the stores that are experiencing issues. With our patented Smart Vision solution deployed in retail outlets, both CPG brands and retailers can experience meaningful sales increases and cost savings that lead to ROI figures of up to 10x over a 3-year period."
The data collected from Smart Vision, in addition to Vision IoT’s data analytics solutions help brands calculate things like:
- What is the optimal planogram to maximize sales?
- How many facings of each SKU are necessary to eliminate out of stocks?
- How can I predict out of stocks before they happen to maximize sales and improve customer relationships?
- What is the ROI of a given position in a retail outlet and how much should I bid for this position?
Vision IoT is a leader in image recognition solutions that are needed today more than ever to increase the execution of CPG brands in retail outlets. Harbor is the leading IoT platform in this space as it allows clients to have the flexibility to integrate Bluetooth, always on, and image recognition data all in one central platform. The days of CPG brands being stuck with one hardware provider for lack of platform flexibility or maintaining multiple platforms are over thanks to Harbor’s extensive functionality and flexibility.
“Our pipeline for always on and image recognition solutions in the Americas is growing by the day” said Aray Chagas, Director of the Americas at Vision IoT. “Retail and CPG brands are now realizing that real-time data and insights are the key to growing their businesses in the hyper-competitive environment they operate in. We have also seen a great amount of interest in our new analytics offerings from both existing and new clients in Latin America, which is very encouraging. By the end of 2022 we expect our value-added AI/Analytics services to account for over half of our revenue in the region”
For enquiries about Smart Stock or any Vision IoT solution please reach out to mail@visioniot.com or call us on (703) 981 9354.
About Vision IoT Inc.
Vision IoT connects retail assets enabling CPG brands and retailers to measure, analyze, and optimize the efficiency of these assets and the representatives responsible. Vision IoT successfully created the world’s first and only device-agnostic IoT platform for connected retail assets that seamlessly integrates with third-party controller OEMs across the globe. Our innovative IoT solutions transform a retail store into digital insights that maximize sales and elevates the customer experience.
Headquartered in Chantilly, Virginia Vision IoT also has regional offices across India, China, Bulgaria, and Brazil to support millions of connected devices on our platform for our clients across over 40 countries. Vision IoT is a leading innovator in ground-breaking Internet of Things (IoT) products for the retail industry. Since its inception, Vision IoT has built an impressive portfolio of patented technologies. Today, we can boast several of the Fortune 500 companies in our client list, which is constantly growing as we scale our platform to new client groups and use cases.
We leverage our vast machine learning, AI, and image recognition development capabilities in addition to our deep experience in the Retail/CPG industries to build the world’s #1 device agnostic connected asset platform. Our Harbor IoT platform connects millions of coolers, espresso machines, pallets, and freezers globally, in addition to directly integrating critical applications for field service reps and salespeople. We also offer a comprehensive suite of management dashboards and analytics to give management unparalleled insights into their field operations.
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