Evlocity Exceeds Q2 Estimates
Congratulations to Evlocity Systems Inc. ("EVSI") management in meeting and exceeding your performance goals for Q2 and forecasting profitability by the end of Q3 instead of previously estimated losses due to acquisitions in early January, 2017.
Shortly after combining three companies into one flagship in January 2017, EVSI management estimated that certain costs and operational integration activities attributed to combining these entities together would yield a loss for the company until Q4. Three corporate operations and development teams from the United States, Canada and Mexico were combined into one corporate structure, while maintaining each entity as a wholly owned subsidiary.
The acquisitions enabled EVSI to undertake a more cost and operational efficient transition of enhancing its core Fusion RMS retail management system, to an all SAAS based offering for small to medium sized retailers. In addition, the on-going operations would allow cost efficient development of new product offerings and provide for a much more efficient handling of multiple customer implementations.
Currently, EVSI now services approximately 2,200 retail locations across the United States and prepares to launch its all SAAS based products and services to Australia and other parts of Europe by Q4 2017 with full market initiatives through resellers and partnerships at the beginning of Q1, 2018.