- Software developer Vection Technologies (VR1) has delivered the first phase of a logistics application for its optimised picking software
- The company will partner with solution provider Alfacod to create its warehouse AR technology
- Optimised picking helps warehouse workers identify packages for shipping by using smart glasses or tablet technology
- Vection has now completed and confirmed its software proof of concept
- The Alfacod agreement can now proceed to the second stage, where Vection is poised to receive roughly $75,000 in revenue from the deal
- Vection’s share price underwent no change today, trading for 2.3 cents apiece since last Wednesday
Vection Technologies (VR1) has hit yet another milestone after delivering the first phase of a logistics application for its optimised picking software.
The company has now completed and confirmed its software proof of concept with the Alfacod group, a logistics and traceability solution provider.
The agreement with Alfacod can now proceed to the second stage, where Vection is poised to receive roughly $75,000 in revenue from the deal.
Vection’s optimised picking software allows warehouse workers and factories to filter through a large number of orders using smart glasses or a tablet. The augmented reality (AR) device is set to become part of Alfacod’s logistics management software.
According to Vection, optimised picking technology will help workers locate, scan and deliver a product to the loading dock with more accuracy.
“Vection’s augmented reality-powered ‘Optimised Picking’ software has exceeded our initial expectations and we are very excited to progress this agreement to the second stage,” said Alfacod president Giorgio Solferini.
“This technology has the potential to be adopted across a broad variety of industries and we are very confident on the future sales outlook. We intend to extend this initial engagement into a long-term value accretive partnership in the short-term,” he continued.
The optimised picking software is the latest in a long line of Vection technologies. The company is also developing aa range of 3D, virtual reality and augmented reality solutions for the fashion, motoring and tech sectors.
Vection managing director Gianmarco Biagi said the company was proud to meet customers’ advanced technological requirements, which reinforces its position as a leading provider of technology solutions for Industry 4.0.
“Alfacod represents a unique opportunity to commercialise an advanced logistics focussed software solution to its existing client portfolio on a SaaS model,” Gianmarco said.
Vection’s share price underwent no change today, trading for 2.3 cents apiece since last Wednesday. The company’s market cap is currently valued at $15.11 million.