Invigor wins industry award for ‘Best pricing and promotion analytics’
Leading data and analytics solutions company, Invigor Group Limited (ASX:IVO) was awarded “Best Pricing and Promotion Analytics” at the NORA Solution Provider Excellence Awards on 25 October.
The influential retail industry network NORA, National Online Retail Association, is the body behind the awards, which recognise the contribution of solution providers to Australian retail industry and honour their hard work and innovation in the space.
The awards were judged via a ‘people’s choice’ voting system, in which only retailers could vote for their preferred providers. The voting process was overseen by a renowned advisory board.
Over 2,500 retailers voted for the NORA Awards 2018, with IVO having the honour of being chosen as one of the best solution providers.
The small cap was nominated in three award categories:
- Best Pricing & Promotion Analytics
- Best Customer Analytics and
- Best Retail Insights
IVO won ‘Best Pricing and Promotion Analytics’, and was runner up for ‘Best Customer Analytics’ and ‘Best Retail Insights’ — against Australia’s largest bank CBA, as well as other analytics companies.
As part of the nomination process, client case studies were featured in which Invigor had the opportunity to showcase how the company’s solutions positively impacted clients such as the Australian Liquor Stores Association (ALSA), Cigweld (ESAB Brand) and Afterpay. Further, it was demonstrated how the solutions help clients to better understand their customers, increase margin, reinforce brand positioning, effectively manage channels and increase long-term loyalty.
Winning this industry award contributes to securing IVO’s position as best provider of competitive pricing and promotion analytics for the retail industry. It also reinforces its leadership position in retail technology and innovation helping retailers and brands worldwide grow their business and become more profitable.
“We are delighted to receive this recognition and validation for our product offerings. Importantly, winning “Best Pricing and Promotion Analytics” emphasises the positive impact our solutions have on our clients,” Invigor CEO, Gary Cohen said.
“Our hard-working team has put in tireless efforts into developing our unique solutions for the market and this recognition is testament to that dedication.
“We will continue to focus on delivering outstanding outcomes for our clients, in conjunction with expanding our business development pipeline. We look forward to providing updates on this in due course.”
Earlier this month, the company informed the market that its Memorandum of Understanding (MOU) with China’s Winning Group Holdings Limited, which was signed on September 18, is now unconditional — with both parties having waived the initial three-month pilot period, and moving to ‘live deployment’ of WeChat Pay in south-east Asia.
Winning Group is one of just a few global solutions providers for Tencent Holdings Limited, which is one of China’s largest companies as well as one of the world’s most valued internet firms. Tencent Holdings owns WeChat, a leading payment and social media platform in China with over one billion users (900 million of which are using WeChat Pay).
The removal of conditionality is a promising development for IVO, which will see the company and Winning Group (and by default Tencent) locked into the agreement for three years.