Quorum receives research funding for Machine Learning project
06 July 2021 - 11:00PM
Quorum Information Technologies Inc. (TSX Venture: QIS) (Quorum)
announced today that it is receiving advisory services and funding
of up to $724,746 from the National Research Council of Canada
Industrial Research Assistance Program (NRC IRAP) to support a
research and development project to consolidate Quorum’s dealership
data and add machine learning capabilities to its Cloud-based
applications.
The NRC IRAP support is the next step in a
process started in 2020 when Quorum launched QAnalytics – an
enterprise reporting tool for the Quorum suite of products powered
by Microsoft Power BI. QAnalytics is now utilized by 30% of
Quorum’s XSellerator Dealership Management System (DMS)
customers.
“QAnalytics has changed how we manage our 11
franchised dealerships in our auto group,” stated Tim Davis, CEO of
Davis Auto Group. “The real time metrics that QAnalytics provides
for all aspects of our dealership’s operations allow our management
team to make confident, data-driven decisions.”
Quorum’s next step is to strategically
consolidate dealership data from its 1,025 customers on Microsoft
Azure Synapse, enabling QAnalytics to deliver enhanced critical
Business Intelligence insights into dealership operations and
provide a consolidated dataset for Machine Learning projects. The
data consolidation project was announced on January 19th, 2021, in
partnership with Microsoft.
“Microsoft Azure Synapse will help Quorum
power customer service, innovation and efficiency, adding
increased value for its dealership customers,” said Suzanne
Gagliese, One Commercial Partner Lead, Microsoft Canada. “The
transition to Azure Synapse allows the QAnalytics platform to
collect and analyze all of their data, break down data
silos and provide immediate business intelligence.”
The NRC IRAP support will enable Quorum to
accelerate the project to centralize data assets on Microsoft Azure
Synapse and add Machine Learning capabilities to enhance Quorum’s
Customer Relationship Management (CRM) software, PowerLane
video-capable, mobile service inspection tool, and our Communicator
unified communication and digital marketing solution.
“Quorum successfully utilizes technology to help
our dealerships make more money and our new Machine Learning
capability is the next evolution in this strategy,” said Quorum CEO
Maury Marks. “We are delighted that NRC IRAP is supporting this
venture as it will help reduce Quorum’s risk and leverage our
successful QAnalytics product and Microsoft Azure Synapse
partnership project.”
For more information on Quorum, please visit:
www.QuorumInformationSystems.com
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 www.QuorumInformationSystems.com.
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
Marks403-777-0036Investors@QuorumInfoTech.com
PDF
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