As loyal customers and investors, the recent Slyce has come up with many mobile apps that raise interests as to how the company performed in last financial year, ending 31st October, 2015. The company released them and are available for scrutiny at www.SEDAR.com
The reports released take two forms, namely: business reports, technological advancements and ordinary financial statements. Below is a summary of the three reports.
Slyce made major achievements during the financial year which ranged from entering into deals with investors and improving existent and developing new visual search software. The major announcements declared included:
Partnership with SHOES.COM
Slyce entered into a partnership with online footwear retailer SHOES.COM and North American online shoe retailer SHOEme.ca. Under the agreement, Slyce will be able to market its products to many people as they will be used to take pictures of ladies’ shoes and uploaded to the SHOEme.ca website where similar items can be identified and delivered to the customers.
Fashion retailer extended the use of Slyce technology to all its product lines. Initially Neiman Marcus had an engagement where only a limited number of items could be accessed via Slyce apps. However, with the new NM app, Neiman Customers can take 3D photos of any products and match them with those available at Neiman Marcus and place orders for them.
Slyce introduced a new universal scanner that would enable retailers to identify any kind of objects ranging from printed materials, bar-codes and physical objects. The scanner is developed as an improvement to retailer apps both for iOS and Android. This scanner has mobile browser capabilities enabling customers to scan the objects and upload them to their websites.
Slyce recorded quite a substantial increase in sales in 2015 to the tune of $1,692,292. The increase was recorded as 1784% of the revenue received as at 31st October, 2014. However, the expenses were very many to an extent that the company posted a net loss of $12,069,466. Hope is not bleak since the loss recorded is less than $17,576,576 recorded during the 2014 financial year.
Slyce is a visual technology service provider based in Toronto, Canada. Its main focus is to create an effective sales channel between retailers and their customers. Its products range from visual search platforms and consumer mobile apps.