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QUARTERLY UPDATE

By Tony Bugge

Q1 2020 – Business Development Update

The 1st quarter of 2020 has been an eventful and unprecedented time to say the least! We sincerely hope our team members and their loved ones are all safe and well.

The V Net directors were challenged with the possibility of various lockdown scenarios as the COVID-19 situation evolved in Australia. Our objective was, in the event of total lockdown, how do we get through this without having to lose any staff members and continue to be a viable business. Thankfully, as we stand today, the government has done an outstanding job, in my humble opinion, at flattening the curve without completely closing down the economy.

We currently live in a world where decisions are made week to week as opposed to looking forward 12, 24 or even 36 months. Our primary objective today is to continue to provide our existing customers with our famous exceptional level of service, and be as flexible as possible to help them through what is a crucial time in their history.

In terms of business development the following key initiatives are being executed;

New System Launch – We are currently at the finishing line of launching our new MS Azure based Inventory and Analytics solution. In the coming months Leisa I and Andrew R will be developing a training and launch plan that involves providing all team members with the training required to run the new system when launched.

Microsoft China – V Net have launched its first client in China – Microsoft! We have recently been accredited with a Wholly Foreign Owned Entity (WFOE) in China – V Net Consulting Beijing Co Ltd. The Microsoft project also introduces V Net to the world of collecting data at a transactional level. In the new world, we have developed a solution that can accommodate for these basket level transactions. The project was launched in February and we plan to complete the rollout by the end of 2020.

Kodansha – V Net has launched a pilot program with Japan’s largest book wholesaler. The initial results of the pilot have been deemed a success and we are currently refining the inventory solution to accommodate the nuances of their work flows. The plan is to launch the inventory platform to multiple retailers in the back half of the year.

Microsoft USA – As you may be aware, we are currently reviewing the specific requirements of Microsoft in the USA with their biggest retail partner, Best Buy. Our project team headed up by Sanjeev, Shen and Blake have been working hard to understand the specific requirements and processes of this pseudo inventory environment. This will allow the development team to build a “fit for purpose” solution with our new system. We are planning a 1 June “go live” with the potential of a global rollout to follow.

On behalf of the senior management team at V Net, we would like to thank everyone for your hard work and exceptional service levels during these very difficult times. From what I have seen and heard, we have adapted extremely well to the “work from home” edict. The feedback from our clients has been that we have exceeded all expectations and added value in a difficult working environment.

Many thanks and please stay safe!

Tony, Remo and Martin