Invigor Group secures strategic MOU through Microsoft partnership
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Leading data intelligence solutions company, Invigor Group Limited (ASX:IVO) has signed a Memorandum of Understanding (MOU) with US-based, specialised data analytics company Neal Analytics.
Neal Analytics operates in the field of analytics, utilising cloud, artificial intelligence (AI) and machine learning, with customers including iconic retailers Coca-Cola, Costco, Majid Al Futtaim Group, H&R Block, Barilla, Macys/Bloomingdale’s and several other blue-chip customers.
Under the MOU, IVO and Neal Analytics will partner to actively strengthen and promote each other’s data-driven solutions through their respective channels to market in Australia, Asia and North America. The agreement will also extend IVO’s reach in Europe, the Middle East and Africa.
IVO’s SpotLite product will be used to strengthen Neal Analytics’ advisory services and solutions, such as Advanced Demand Forecasting and SKU Max, by providing real-time pricing and promotional intelligence and improving accuracy and responsiveness of their AI-driven predictive analytics.
Promisingly, the deal was secured as a result of IVO’s recent partnership with Microsoft, which has included not only product development but co-marketing support with Microsoft opening up introductions to customers and access to its global partnership network.
It should be noted, however, that IVO is an early stage tech company and success is no guarantee. Investors should seek professional financial advice before making an investment.
In commenting on today’s announcement Neal Analytics CEO, Dylan Dias said: “Our go-to-market relationship with Invigor Group represents a critical step in Neal’s plans to deliver its Retail and CPG solutions portfolio in international markets.
“We were impressed by the calibre of consultants at Invigor and are thrilled to be partnering with them on the deployment of Retail IQ in multiple scenarios: stock & shelf optimization, advanced demand forecasting, and pricing/promotion planning using their best in class solutions and data platform. We look forward to a building a fruitful partnership with Invigor and to driving world-class digital transformation to our mutual customers,” he said.
In the announcement, IVO also stated it was in discussions with customers on ways to capitalise on the collaboration with Neal Analytics, and will be updating shareholders in due course.
Invigor CEO, Gary Cohen said: “We are excited to be partnering with a company with the calibre of Neal Analytics. Neal Analytics is a recognised leader in specialised data analytics and there are obvious and multiple synergies across the two businesses.
“This MOU presents a unique opportunity to strengthen their solutions and market presence in Australia and also drive our customer opportunities for competitive pricing intelligence. As such, we look forward to working with Neal Analytics on bringing greater insights and value to retailers and brands in Asia Pacific and beyond.
“We are also thankful our recent partnership with Microsoft has facilitated the introduction between Invigor and Neal Analytics and we are working closely with them focused on future customer deployments of our competitive pricing and promotion intelligence solution, SpotLite,” he said.
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