FinancialBuzz.com News Commentary
NEW YORK, March 13, 2019 /PRNewswire/ -- In the early era of information technology (IT), a lot of the tech was limited specifically to the banking sector. Nowadays, the IT industry has grown into one of the biggest sectors in the world. Most companies that engage with data or information use some form of IT services, which are classified as the use of computer applications to study, store, retrieve, transmit, and manipulate data or information. Primarily, companies within the computer hardware, software, electronic, internet, semiconductor, and ecommerce offer IT services. Overall, the growing emphasis on developing an IT-efficient infrastructure, and the implementation of services such as consulting and system integration, is driving the market growth. Additionally, the demand for low-cost IT services is also driving competition among the players within the industry. The competition in the marketplace will further highlight the the needs and outcomes necessary for businesses to improve revenue, profitability, and employee productivity in the upcoming years. According to data compiled by Variant Market Research, the global information services market is expected to reach USD 1.75 Trillion by 2024. The market is also expected to grow at a CAGR of 5.4% from 2016 to 2024. Nerds On Site Inc. (OTC: NOSUF) (CSE: NERD), Limelight Networks Inc. (NASDAQ: LLNW), Remark Holdings, Inc. (NASDAQ: MARK), Staffing 360 Solutions, Inc. (NASDAQ: STAF), AMERI Holdings, Inc. (NASDAQ: AMRH)
With the proliferation of IT services, the industry has expanded into sectors such as retail, transportation, finance, insurance, education, and telecommunications. The wide spread of IT signifies the versatile use and importance of the technology, which has subsequently led to the surge in employment demands. A study conducted by the University of British Columbia and the Massachusetts Institute of Technology revealed that there was a slow-down in employment and wage gains in jobs that do not involve IT. Meanwhile, IT-intensive job occupations grew by 19.5% from 2004 to 2017, while less IT-intensive jobs grew marginally by 2.4% over the same period. The rise of IT services has put pressure on employment, demanding workers with computing and technical expertise. "The future of jobs is in IT, and IT-intensive tasks" said Giovanni Gallipoli, co-author and Associate Professor from the Vancouver School of Economics at UBC. "Growth and productivity in jobs involving IT tasks are very strong, and workers who can perform such tasks have a clear competitive advantage in the labour market."
Nerds On Site Inc. (OTC: NOSUF) (CSE: NERD) also listed on the Canadian Securities Exchange under the ticker (CSE: NERD). Yesterday, the Company announced breaking news that it, "is pleased to provide shareholders with an update from CEO Charles Regan.
Nerds on Site IT solutions for small and medium sized business has generated over $160M in historical sales across Canada. Upon the Company's successful IPO in November 2018 NERDS has started its planned expansion to 10 cities in the USA, building upon working relationships with tens of thousands of existing small business Clients and leveraging 10+ year working relationships with Google, Apple, Amazon, DELL and Microsoft.
Within the first 3 months post IPO, the Company has made substantial progress on multiple fronts of the planned development. It typically takes 6-12 months to sign a long term ("NerdCare") contract, as those are in process in the USA, our new US based NERDS are already excelling in on-call jobs and NerdMobile sighting call in requests. Specific areas of expansion include Florida, Arizona and further expansion in our mature market of Canada. Growth with existing clients in Canada, highlighted by Canadian Tire indicates significant upside in addition to expansion into Metro Vancouver and 3 additional Canadian Cities.
Overall our ability to scale the proven business model over the previous quarter indicates strong prospects through our North American expansion plans, all of which have the potential to significantly boost shareholder value as we continue to execute in 2019.
- Immediate results in Florida and Arizona with a team of new NERDS in action, proceeding toward full franchise status. The first 15 NERDS that we have signed up represent "franchisees to be" pending the Company's completion of the ongoing process of filing franchise documents with individual states.
- 102% revenue increase overall with USA growth, quarter over quarter.
- Significant growth in Canada with key long-term client, Canadian Tire, with the goal of total 290 stores served in fiscal 2020. Currently the Company services 226 Canadian Tire stores, therefore we expect double digit, or close to 22% increase in stores served in fiscal 2020. This number is very feasible as it represents the addition of one store per week, which has been achieved by the team historically.
- Expansion to Vancouver and 3 additional Canadian Cities. Although no long-term contract has been entered in these new areas yet, the build out is in line with previous successful expansion for the Company.
- Emphasis on stable contract revenue promises the expected increase of contract revenue by 11%, or up to 68% from Total Revenue in fiscal 2019.
USA Expansion Update, New NERD Team USA shall increase the revenues by 150%+ over fiscal year
The Company successfully vetted, trained and launched 15 new NERDS (technicians), 9 in Florida and 6 in Arizona.
New NERDS are provided with NerdMobiles, fully branded VW Beetles which the company has leased and delivered to FL and AZ. The Company is extremely pleased to be able to kick start the initial NERD team USA with a worry-free lease program. Initial NERD team members have a 37% revenue split, exactly as planned in the roll out schedule. It is anticipated that within 6 months new NERDS will transition to 50/50 revenue split for the long term, in addition to assuming lease payments. The 6 months lease turn over estimate is based on historic results in Canada.
Canadian Update – 11% more contract revenue, New Canadian Tire push, new cities planned
Canadian team has made a significant progress in the last 3 months. Contract recurring revenue target for fiscal year end 2019 is up by 11%, the goal is to continue to grow our contract business.
Our Canadian Tire team is ramping up the efforts to extend NerdCare managed service coverage to an increasing number of our Canadian Tire dealers. Currently, we are serving 226 out of 493 Canadian tire stores in Canada. Our team is targeting to add 1 new Canadian Tire store per week for the Calendar 2019, which shall bring the total number of stores to our goal of 290 by the end of 2019.
Besides the high standard of service, and high satisfaction of the existing Canadian Tire dealer clients, the "TimeWellScheduled" time management tool, has proven to be a solid door opener with the Canadian Tire Dealers.
With the heightened interest following the IPO, management has decided to expend to 4 more Canadian cities. The first city targeted for expansion is Vancouver BC. Having received strong support in that market leading up to and following the IPO. Scaling the business in the Vancouver market will follow tried and true growth principles and practices that have served NERDS ON SITE throughout its history…
About Nerds On Site: Nerds on Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to Small and Medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds on Site was established in London, Ontario with current annual revenues of approximately $10,000,000. The company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. NOS's business model is based on Nerds sub contracts in Canada and a Franchise model for USA expansion."
For our latest "Buzz on the Street" Show featuring Nerds On Site Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=V7YRzZ6b7KA
Limelight Networks Inc. (NASDAQ: LLNW), a leading provider of digital content delivery, video, cloud security, and edge computing services, empowers customers to provide exceptional digital experiences. Limelight Networks recently announced that Faurecia is using its private global network and technology to quickly deliver dynamic content around the world. Limelight's technology allows Faurecia.com visitors to instantly access the detailed information they need to learn more about the company, its services and solutions. Faurecia counts on Limelight's private network and innovative technology to avoid potential congestion and reliably deliver content worldwide. As the Company expands into new markets, they can easily expand their websites in new countries and handle spikes in online traffic seamlessly. In addition, with Limelight's SmartPurge, Faurecia is able to improve workflows and easily update content in under two seconds. "It's important for Faurecia to be able to quickly update its website so that product information is always current for their global customer base," said Didier Nguyen, Sales Director at Limelight Networks. "Limelight provides Faurecia with an easy to use workflow and reliable and scalable platform that can easily handle their growing business including any spikes in online traffic demand."
Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes. Remark Holdings, Inc. recently announced that its KanKan AI technology has been utilized to deliver an innovative multi-media search platform for Shanghai Education Resource Center, an affiliate of Shanghai Open University, which is one of the largest online educational institutions in China. The university teaches more than 70,000 students per year and maintains approximately one million hours of online class content that it can distribute to various online channels. Developed in conjunction with Hangzhou Shufeng Technology Co., Ltd. and Shanghai Education Software Development Corporation, the multi-media search platform employs KanKan's AI technology to accurately search for and retrieve structured information from a vast universe of unstructured sources, spanning digital libraries, video-on-demand, live broadcast, digital TV, video surveillance and Internet advertising. The search platform represents an innovative solution for the education industry, fulfilling a need for faster, more convenient and more accurate access to vast data sources. Shanghai Education Software Development Corporation is also affiliated with Shanghai Open University and is committed to researching efficient information technology solutions; it benefits from forward-looking practical experience and leading technical advantages in the field of education information construction. Over the past ten years, the Company has delivered 22 computer software copyright and software product registration certificates covering education management platforms, educational resource research and development and learning platform software, among other technologies.
Staffing 360 Solutions, Inc. (NASDAQ: STAF) is engaged in the execution of an international buy-integrate-build strategy through the acquisition of domestic and international staffing organizations in the United States and United Kingdom. Staffing 360 Solutions, Inc. recently announced that one of its UK businesses, Clement May, has re-signed British American Tobacco ("BAT") to provide Resource Process Outsourcing and staffing services. Chris Rowbotham, Managing Director of Clement May stated, "We are proud of the service we provide to BAT and are very pleased that our consistently high level of service level has been recognized in this way and we will continue to work with BAT on areas where we can help to improve its business even further. We are constantly striving for new ways in which to improve our overall client offering and now, as part of Staffing 360 Solutions, we have successfully extended our delivery from Information Technology contractors to include Engineering, Legal and Accounting & Finance, through collaboration with our sister-brands."
AMERI Holdings, Inc. (NASDAQ: AMRH) is a specialized SAP® cloud, digital and enterprise services company which provides SAP® services to customers worldwide. AMERI Holdings, Inc. recently announced that it had secured a project to implement a robotic process automation solution with MedData, a leading provider of patient-facing financial services for hospitals and health systems. The new win, the first for Ameri100 in the healthcare sector, will center on the implementation of UiPath's Robotic Process Automation (RPA) solution as a first step in the modernization and optimization of MedData's IT legacy platform, and positions Ameri100 as a key strategic partner in driving MedData's digital transformation. RPA will enable MedData to transform and improve internal processes to create better customer experiences. Ameri100 will also help automate back-end processing that, when combined with RPA and business process management, will help MedData to gain cost, performance and quality benefits by automating high-volume, complex yet routine business processes. In support of the implementation of RPA, Ameri100 will establish an RPA Center of Excellence at MedData to embed RPA deeply across the client and to redistribute accumulated knowledge and resources for future deployments. "The healthcare sector represents a significant, long-term opportunity for Ameri100 as enterprises move to prioritize patient experiences through the deployment of new technologies that improve not only patient satisfaction levels, but also enterprises' bottom lines. Adding disruptive technologies and services, such as RPA, artificial intelligence/machine learning and blockchain, to our service offerings portfolio enhances our digital transformation services and helps clients unlock the full value of their investments in IT," said Brent Kelton, Chief Executive Officer of Ameri100. "With a proven reputation for developing and implementing successful digital transformation migration paths across other business verticals, we are proactively positioning ourselves in front of healthcare enterprises just starting on their journeys."
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