Strong revenue and profitability driven by growth in cannabis customers
OTTAWA, Nov. 25, 2019 /PRNewswire/ - March Networks®, a global video security and video-based business intelligence leader, is proud to announce that it has won the 2019 Best Ottawa Business award for sales performance.
March Networks won the Best Performance Sales award for its record-setting revenue and profitability, accomplished in part by the sale of its video surveillance solutions to the cannabis market. Capitalizing on the cannabis industry's rapid growth in both Canada and the United States, March Networks secured two of the world's largest cannabis companies, in addition to over 100 other cannabis customers. The company's video systems safeguard all stages of the cannabis supply chain including cultivation, testing, retail sales and secure delivery.
"March Networks recognized early on the unique security requirements of the cannabis market," said Net Payne, Chief Sales & Marketing Officer, March Networks. "This highly-regulated industry requires total reliability, as well as full compliance with government-mandated rules for video surveillance. As a leading supplier of video-based business intelligence solutions to many Fortune 500 companies, March Networks' products meet and exceed the regulations for cannabis security while delivering the business intelligence needed to increase revenue and profitability. This is particularly important for customers who are in the growth phase of their business, when capital is paramount. Our ability to deliver what matters most to our customers makes March Networks the ideal choice for leading cultivators and dispensaries across North America and worldwide."
March Networks Searchlighttm for Retail software helps cannabis businesses with both loss prevention and business optimization by integrating surveillance video with point-of-sale (POS) transaction data and analytics. Searchlight enables organizations to leverage video to track and analyze operations and customer service, and gather business intelligence on how and when customers shop. The software also integrates with Radio Frequency Identification (RFID) data. In states like Colorado, where RFID tagging from seed to sale is mandated by law for cannabis companies, Searchlight delivers an enhanced level of tracking and compliance by allowing operators to keep a visual record of the movement of plants. Using the software, customers can search for RFID-tagged product by date, time, brand, product code or serial number, and instantly pull up the surveillance video associated with that data.
In addition to Searchlight, March Networks' highly-reliable network video recorders (NVRs) easily store IP surveillance video for several months, helping cannabis operators comply with the 90-day requirement for video archiving that several U.S. states have in place.
The company's IP cameras also capture sharp, high resolution video images, while its Command video management software helps customers monitor the health of their video systems, including all camera and recorder connections, to ensure 24/7 recording.
"We are very pleased to accept this award," said Peter Strom, President & CEO, March Networks. "Our strong sales performance would not be possible without the hard work and dedication of our employees, and of course, our many loyal customers. On behalf of everyone at March Networks, I want to thank our customers for trusting us with their video surveillance needs and choosing our solutions for enhanced security, profitability and customer satisfaction."
Sueling Ching, Interim President and CEO of the Ottawa Board of Trade, congratulated March Networks on its success this year.
"As an established high-tech company, March Networks plays a vital role in the local economy," said Ching. "We are pleased to recognize them with this award and we wish them continued success in 2020 and beyond."
To learn more about March Networks' cannabis solution visit: https://www.marchnetworks.com/solutions/cannabis/
About March Networks
March Networks® helps organizations transform video into business intelligence through the integration of surveillance video, analytics, and data from business systems and IoT devices. Companies worldwide use our software solutions to improve efficiency and compliance, reduce losses and risk, enhance customer service and compete more successfully. With deep roots in video security and networking, March Networks is also recognized as the leader in scalable, enterprise-class video management and hosted services. We are proud to work with many of the world's largest financial institutions, retail brands, cannabis operators and transit authorities, and to deliver our software and systems through an extensive distribution and partner network in more than 70 countries. Founded in 2000, March Networks is headquartered in Ottawa, Ontario, Canada. For more information, please visit marchnetworks.com.
March Networks and the March Networks logo are trademarks of March Networks Corporation. All other trademarks are the property of their respective owners.
SOURCE MARCH NETWORKS CORPORATION
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