ARLINGTON, Va., Feb. 17, 2022 (GLOBE NEWSWIRE) --
Dear Shareholders and Interested Investors,
Edge Total Intelligence Inc. ("edgeTI(TM)" or the "Company") (TSXV:CTRL), the leader in real-time digital operations, delivers higher performance operations to corporate enterprises, government agencies, and service providers. edgeCore(TM) software enables organizations to design and achieve desired goals by uniting business intelligences with intelligent automation.
This interim investor update details market trends, our progress, and important initiatives we have underway, which we will further detail when we release the Company's fiscal 2021 results in late April 2022.
Digital Transformation - Strong Demand Tailwinds
According to IDC Statista, Digital Transformation, the adoption of digital technology to transform business processes and services from non-digital to digital, is expected to reach US$1.8 trillion globally in 2022 and grow to US$2.8 trillion by 2025, a ~12% compound annual growth rate (CAGR), significantly higher than global GDP growth. The study indicated Digital Transformation encompasses, among others, moving data to the cloud, using technological devices and tools for communication and collaboration, as well as automating processes. Overall, utilizing technologies for Digital Transformation render organizations more agile in responding to changing markets and enhance innovation, thereby making them more resilient.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
While the Digital Transformation market is well-established, multiple studies reviewed by the Company suggest that the COVID-19 pandemic shifted the approach organizations are taking to accelerate progress and achieve success by focusing rapid development efforts at a single business function like finance or at a complex issue across business units. The Company believes that such a shift in approach will favor edgeCore's "low-code" capabilities that enable tech savvy workers outside of traditional IT to create meaningful experiences for all participants (aka Digital Operations).
edgeTI's Ability to Deliver Digital Transformation Success and ROI
edgeTI recently spoke with Sheryl Kingstone, Head of Customer Experience & Commerce for 451 Research (a part of S&P Global Market Intelligence), whose coverage focuses on the Experience of Digital Transformation. In this conversation, available on edgeTI's website and YouTube channel, Ms. Kingstone discusses why "experience" is essential to Digital Transformation and the new ways of working. Specifically, she answers the following questions about why organizations struggle with Digital Transformation and what these organizations can do to increase success:
- What are the best approaches to create great experiences when dealing with legacy applications?
- What's needed to overcome organizational hurdles and silos?
- How should organizations balance the need to protect sensitive data while establishing transparency and insight?
Confronting these challenges, edgeTI seeks to create new value without having to rip and replace existing systems. This is expected to accelerate value without having to create new and costly data stores. By unifying control and intelligence, participants are presented with the information that is important to them in real-time, with appropriate options, and then edgeCore(TM) quickly executes decisions with less risk than competing software by leveraging native and orchestrated automation as well as engaging artificial intelligence ("AI") services.
edgeTI will Help Organizations Quickly Create Value from Digital Operations
The Digital Operations segment has yet to fully form and declare a dominant leader that unifies business intelligence and automation in a user-friendly way that is easily configured. High growth firms like Celonis (Private - $11B valuation last raise) and UiPath (NYSE: PATH) as well as large cap firms like Microsoft (NASDAQ: MSFT) are working to create unified offerings.
Meanwhile edgeTI delivers these capabilities today in one modular, scalable, easy to deploy and use platform. The edgeCore platform is already delivering human-centric intelligence and automation to a growing list of global clients and expanding cross-functionally to unite teams and leaders in Banking and Finance, Government, and Service Providers industries.
Customers have experienced return on investments (ROIs) from 16% to 87% by using edgeCore and we have a strong pipeline of additional organizations that we anticipate will be using edgeCore to digitize their business operations more easily. edgeTI's metrics are configured to customer goals and are consistently human-centric, meaning that they enhance the natural human characteristics for better performance and interaction among teams and the technologies they use.
edgeTI Extends High-Value Adoption in Large Midsize Enterprises
North Wind Group, a wholly owned Alaska Native Corporation, provides engineering, construction, environmental services, facility operation and infrastructure, IT/cyber enterprise management companies of more than 2,200 professionals, used edgeCore to build a real-time executive financial management dashboard that securely combines multiple business systems to increase transparency and visibility across North Wind Group's business units. Information that had previously required weeks to combine is now available immediately due to the real-time integrations provided by edgeCore. More details on North Wind Group's integration of edgeCore can be found on edgeTI's investor page.
Key Recent Business and Operational Developments
- While large trade events went virtual, edgeTI participated in small to midsize in-person events (500 to 3,500) that were cost-efficient at creating awareness and surfacing opportunities.
- Developed new Digital City opportunities from its participation in Smart Cities Connect Fall Conference and Exhibit on October 19, 2021, in National Harbor, MD; the event's first in person show in two years.
- Developed new opportunities and interests at DoDIIS 2021 exhibition and program on December 5, 2021 in Phoenix, AZ as the United States Department of Defense and intelligence agencies were able to meet with integration partners and technology providers.
- Attending AFCEA West in San Diego, which started February 16, 2022, for US Armed Forces and System Integrators.
- Began work in Gartner's Tech CEO program for emerging technologies on December 1, 2021 to increase analyst awareness and provide insights on how buyer trends are evolving.
- The Company's development and support operations earned high marks from customers for its speedy and thorough response to produce patches and assist deployment in the wake of December's security vulnerability in Log4j, an open-source library used by many software and hardware technologies.
- Engaged Sophic Capital to educate investors and assist with capital markets strategy and investor relations on February 1, 2022.
- Increase industry awareness with buyers by attending in person events via demonstrations and speaking.
- Invest time and resources to build systems integrator partnerships and strategic reseller relationships that focus on the partner's strength and unique value enabled by edgeTI's products. Such partnerships and relationships are to be announced as they are initiated.
- Increase investor-focused materials and content to better inform shareholders and investors.
- Continue to add pre-built integrations of fast-growing business solutions and leading data platforms like the recently completed Deltek Financial Systems (Private) and Snowflake (NYSE:SNOW).
- Deliver edgeCore Platform and Accelerator Module updates to address evolving needs and demands.
- Generate customer success stories to further support the product use cases.
- Improve social media and websites to enhance visibility to customers searching for solutions to their goals.
Upcoming Investor Milestones
- New investor deck is available on the Company's Investor Relations page
- An Investor Conference and Industry Event Schedule will be announced in March, 2022.
- Annual 2021 results and Company Update are scheduled to be released in late April, 2022.
"In 2022, edgeTI is positioned to deliver the unified real-time insights and automation demanded by this emerging market while creating value for our shareholders," said James Barrett, CEO and Chairman. "On the back of several in-person industry events we attended in late 2021, our pipeline of opportunities for 2022 expanded. Existing customers continue to introduce new situations to optimize their operations as well as request new potential features for our subscription software. Beginning with this interim report, we look forward to providing future updates to shareholders and prospective investors."
Edge Total Intelligence is a leader in real-time digital operations - delivering increased operational resilience, agility, and efficiency. The Company's low-code rapid development software, edgeCore(TM), securely unifies control and intelligence without creating new data stores or uprooting existing systems. Configurable pipelines and visualizations transform siloed systems into composable operations that meet the unique needs of users and evolving business situations. Learn more at www.edgeti.com.
On behalf of the board of directors of the Corporation:
Chief Executive Officer and Chair
Edge Total Intelligence Inc
For further Information, please contact Mr. Nick Brigman or view the Company's filings at www.sedar.com.
VP, Product & IR
Edge Total Intelligence Inc
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information and Statements
This press release contains "forward‐looking information" and "forward‐looking statements" under applicable Canadian and securities laws, these statements can generally be identified by use of forward-looking words such as "seek", "plan", "project", "predict", "forecast", "should", "potential", "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue", "maintain", "target" or the negative thereof or similar variations (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such forward-looking statements or information. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, risks and uncertainties relating to the COVID-19 pandemic, general economic and market factors, competition, changes in government regulation and other securities regulatory filings made by the Company from time to time. No representation or warranty, express or implied, is made or given by or on behalf of the Company, or any of their respective affiliates, directors, officers or employees as to the accuracy, completeness or fairness of the information or opinions contained in this Presentation and no responsibility or liability is accepted by any person for such information or opinions. The information contained herein has not been independently verified and is subject to material updating, revision and further amendment, and is qualified entirely by reference to the Company's publicly disclosed information and/or any other legal disclosure document(s). The contents of this update are not to be construed as legal, financial or tax advice. Each prospective investor should contact their own legal adviser, independent financial adviser or tax adviser for legal, financial or tax advice.
Forward‐looking statements include, but are not limited to: (i) the adoption of digital technology to transform business processes and services from non-digital to digital; (ii) the effect of the COVID-19 pandemic on the approach organizations are taking to accelerate progress and achieve success by focusing rapid development efforts at a single business function like finance or at a complex issue across business units; and (iii) the amount of additional organizations anticipated by the Company to use edgeCore(TM) to digitize their business operations.
In addition, these risks, uncertainties, assumptions and other factors could cause the Company's actual results, performances, achievements and experience to differ materially from its expectations, future results, performances or achievements expressed or implied by the forward-looking statements. The forward-looking statements contained herein are presented for the purpose of assisting readers in understanding the Company's expected operating performance, plans and objectives, and may not be appropriate for other purposes. You should read this information with the understanding that the Company's actual future results may be materially different from what such Company expects. These forward-looking statements speak only as of the date hereof and are expressly qualified in their entirety by this cautionary statement. The Company disclaims any obligation to update forward-looking statements, except as required by applicable law.
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