Quorum Announces Atlantic Canada Opportunities Agency Investment
06 November 2020 - 3:00AM
Quorum Information Technologies Inc. (TSX Venture: QIS) ("Quorum"
or the "Corporation") announced today that the Government of
Canada, through the Atlantic Canada Opportunities Agency (“ACOA”),
is providing a $500,000 interest free, repayable investment to
assist Quorum in adding significant enhancements to DealerMine’s
Online Scheduling application.
Maury Marks, Quorum’s President and CEO stated,
“We are excited that ACOA is supporting the research and
development of our technology in our Saint John, New Brunswick
office. Online Scheduling is a cloud-based online scheduling
application that allows dealership customers to book service
appointments from any device. After this project is complete, we
will license the Online Scheduling application as a stand-alone web
booking application to dealers and industry partners. Additionally,
we will be adding exciting new functionality including Artificial
Intelligence (“AI”) capability that identifies potential Declined
Service from past work order’s, predictive analytics that
determines the Next Likely Repair based on the age, make and
mileage of the customer’s vehicle and a more intuitive and engaging
User Interface.”
“To bring back our economy stronger than ever,
we must support small and medium-sized companies in their efforts
to innovate, digitize and compete,” said Wayne Long, Member of
Parliament for Saint John-Rothesay, on behalf of the Honourable
Mélanie Joly, Minister of Economic Development and Official
Languages. “I am pleased that the Government of Canada,
through ACOA’s Regional Economic Growth through Innovation program,
will help DealerMine create a team of experts to develop a
stand-alone Online Scheduling application for the automotive
industry. This project will strengthen the company’s product line,
expand its markets and create four highly skilled positions.”
About Quorum Information Technologies
Inc.
Quorum is a North American company focused on
developing, marketing, implementing and supporting its portfolio of
software and services for automotive dealerships that includes:
- XSellerator, a Dealership Management System (DMS) that
automates, integrates and streamlines key processes across
departments in a dealership, and emphasizes revenue generation and
customer satisfaction.
- DealerMine CRM, a sales and service Customer Relationship
Management (CRM) system and set of Business Development Centre
services that drives revenue into the critical sales and service
departments in a dealership.
- Autovance, a modern retailing platform that helps dealerships
attract more business through Digital Retailing (DR), improve
in-store profits and closing rates through its desking tool and
maximize their efficiency and CSI through Autovance’s F&I menu
solutions fee.
- Advantage, a full showroom system for both franchised and
independent dealerships and a comprehensive management system that
includes accounting for the independent market.
Quorum Information Technologies Inc. is traded
on the Toronto Venture Exchange (TSX-V) under the symbol QIS.
For additional information please go
to http://www.QuorumInformationSystems.com.
About ACOA
ACOA creates opportunities for economic growth
in Atlantic Canada by helping businesses become more competitive,
innovative and productive; by working with communities to develop
and diversify their economies; and by championing the strengths of
Atlantic Canada. For more information, visit ACOA online.
Forward-Looking InformationThis
press release may contain certain forward-looking statements and
forward-looking information ("forward-looking information") within
the meaning of applicable Canadian securities laws. Forward-looking
information is often, but not always, identified by the use of
words such as "anticipate", "believe", "plan", "intend",
"objective", "continuous", "ongoing", "estimate", "expect", "may",
"will", "project", "should" or similar words suggesting future
outcomes. Quorum believes the expectations reflected in such
forward-looking information are reasonable but no assurance can be
given that these expectations will prove to be correct and such
forward-looking information should not be unduly relied upon.
Forward-looking information is not a guarantee
of future performance and involves a number of risks and
uncertainties some of which are described herein. Such
forward-looking information necessarily involves known and unknown
risks and uncertainties, which may cause Quorum's actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking information.
Neither the TSX Venture Exchange nor its
regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) has reviewed this release and
neither accepts responsibility for the adequacy or accuracy of this
release.
Contact: Maury Marks
877-770-0036Investors@QuorumDMS.com
PDF
available: http://ml.globenewswire.com/Resource/Download/f2503788-ac15-45bb-8f18-6e6dc41b7947
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