Velpic cuts the corner to Version 3.0 targeting SMEs
Velpic (ASX:VPC), an Australian eLearning company, has said that its highly anticipated platform update will be delivered late this month as opposed to Q3 2016 as previously expected.
VPC is a cloud-based Learning Management System (LMS) provider helping businesses to educate and train their staff. The company listed on the ASX in November last year courtesy of an RTO deal with International Coal, a coal-exploration company.
VPC’s eLearning platform provides a unique solution to train and induct staff using interactive and dynamic training tools based on video and staff interaction. VPC’s own designers have dubbed its platform as ‘PowerPoint on steroids’. This type of offering helps both small and large companies organise and execute huge training initiatives that span thousands of employees spread out across the globe.
VPC said that Version 3.0 of its eLearning platform is “tracking well ahead of schedule with the process now entering the final testing phase,” according to an update to shareholders.
The new platform includes several new features: streamlined workflows, updated administrator dashboards and consolidated reporting features. It also features enhanced training capabilities for SMEs. Version 3.0 will be finalised “within the next two weeks” which is significantly earlier than the previously advised launch date of Q3 2016.
The much earlier than expected completion could potentially improve VPC’s market valuation once announced and further commercialisation deals come into view.
“This new platform will significantly enhance Velpic’s ability to grow its client base by providing a fully automated interface for SME clients to sign up to the Velpic platform. This provides the opportunity to significantly scale the Company’s [VPC] client growth with minimal additional overheads,” said VPC.
Earlier this year, VPC published provisional pricing information for its new SME-focused offering.
The accelerated time to marketing its new Version 3.0 targeting SME’s positions Velpic to emulate the success of other highly acclaimed cloud-based SaaS businesses such as Xero (valued at US$2.9 billion) and Atlassian (valued at US$4.7 billion) respectively.
VPC also says that Version 3.0 will complete the final third pillar in its Sales strategy. Since its inception, VPC has executed a business plan comprising of enterprise sales and reseller partnerships to generate initial sales revenue growth and will soon activate its SME-focused channel targeting businesses directly.