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VTL Group to expand technology offer

Published: Thu 12 Oct 2006 05:04 PM
VTL Group to expand technology offer
Auckland, 12 October 2006 – VTL Group Limited (NZX:VTL) today announced that in the United States it intends to market and license its unique proprietary hardware and software management system to the wider vending market under the brand “VTL Technologies”.
VTL Group’s chairman, Gary Stevens, says, “This move is in direct response to the increasing number of enquiries from both industry groups and independent parties, who are urgently seeking a solution that provides greater accountability and best-practice standards within the vending industry.
Recent publicity in the USA has highlighted the need for site owners to have transparent reportingabout the sale of products on those sites.
Growing market awareness of the integrity and accountability that VTL Technologies can provide is clearly an opportunity to expand our technology offer to run independently and complementary to our franchising business program.
We recognize the need for “Chinese walls” to ensure confidentiality and security of information for these users.
Over the past eight years, VTL Group has invested a considerable sum developing a completely integrated operating and management system. We have the only fully integrated system that provides all clients with a high level of transparency and integrity for both the financial and product transactions from their vending machine. This includes direct online access from their vending cashbox, 24 hours a day.
With VTL Technologies, clients receive accurate cashbox reporting, maximized sales revenue andleading edge support.”
VTL Technologies intends to certify qualified companies to license its system throughout NorthAmerica.
“Our objective is to make the VTL Technologies industry certification programme synonymous withoperating excellence and uncompromised accountability.” says Stevens. “Our clients will rebuild competitive and profitable businesses in a market sector that has been stagnant for some years.”
In addition, VTL Technologies plans to offer consulting services to the vending industry to improveoperating efficiencies, profitability, product ranging, service standards and debt reduction.
VTL Technologies employs a team of hardware and software engineers in New Zealand, Europeand the United States who are dedicated to continuous system improvement. The company recently outsourced its data storage to an external independent data center service provider to ensure the confidentiality and security of customer information.
ENDS

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