Quorum receives research funding for Machine Learning project

Quorum receives research funding for Machine Learning project

CALGARY, Alberta, July 06, 2021 (GLOBE NEWSWIRE) — Quorum Information Technologies Inc. (TSX Venture: QIS) (Quorum) announced today that it is receiving advisory services and funding of up to $724,746 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support a research and development project to consolidate Quorum’s dealership data and add machine learning capabilities to its Cloud-based applications.

The NRC IRAP support is the next step in a process started in 2020 when Quorum launched QAnalytics – an enterprise reporting tool for the Quorum suite of products powered by Microsoft Power BI. QAnalytics is now utilized by 30% of Quorum’s XSellerator Dealership Management System (DMS) customers.

“QAnalytics has changed how we manage our 11 franchised dealerships in our auto group,” stated Tim Davis, CEO of Davis Auto Group. “The real time metrics that QAnalytics provides for all aspects of our dealership’s operations allow our management team to make confident, data-driven decisions.”

Quorum’s next step is to strategically consolidate dealership data from its 1,025 customers on Microsoft Azure Synapse, enabling QAnalytics to deliver enhanced critical Business Intelligence insights into dealership operations and provide a consolidated dataset for Machine Learning projects. The data consolidation project was announced on January 19th, 2021, in partnership with Microsoft.

“Microsoft Azure Synapse will help Quorum power customer service, innovation and efficiency, adding increased value for its dealership customers,” said Suzanne Gagliese, One Commercial Partner Lead, Microsoft Canada. “The transition to Azure Synapse allows the QAnalytics platform to collect and analyze all of their data, break down data silos and provide immediate business intelligence.”

The NRC IRAP support will enable Quorum to accelerate the project to centralize data assets on Microsoft Azure Synapse and add Machine Learning capabilities to enhance Quorum’s Customer Relationship Management (CRM) software, PowerLane video-capable, mobile service inspection tool, and our Communicator unified communication and digital marketing solution.

“Quorum successfully utilizes technology to help our dealerships make more money and our new Machine Learning capability is the next evolution in this strategy,” said Quorum CEO Maury Marks. “We are delighted that NRC IRAP is supporting this venture as it will help reduce Quorum’s risk and leverage our successful QAnalytics product and Microsoft Azure Synapse partnership project.”

For more information on Quorum, please visit: www.QuorumInformationSystems.com

About Quorum Information Technologies Inc.

Quorum is a North American company focused on developing, marketing, implementing and supporting its portfolio of software and services for automotive dealerships that includes:

  • XSellerator, a Dealership Management System (DMS) that automates, integrates and streamlines key processes across departments in a dealership, and emphasizes revenue generation and customer satisfaction.
  • DealerMine CRM, a sales and service Customer Relationship Management (CRM) system and set of Business Development Centre services that drives revenue into the critical sales and service departments in a dealership.
  • Autovance, a modern retailing platform that helps dealerships attract more business through Digital Retailing (DR), improve in-store profits and closing rates through its desking tool and maximize their efficiency and CSI through Autovance’s F&I menu solutions fee.
  • Advantage, a full showroom system for both franchised and independent dealerships and a comprehensive management system that includes accounting for the independent market.

Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS. For additional information please go to www.QuorumInformationSystems.com.

Forward-Looking Information
This press release may contain certain forward-looking statements and forward-looking information (“forward-looking information”) within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “expect”, “may”, “will”, “project”, “should” or similar words suggesting future outcomes. Quorum believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Quorum’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.

PDF available: http://ml.globenewswire.com/Resource/Download/08eb866c-08c5-4738-9757-5a5cba4d376c

CBJ Newsmakers

Recommended
Former President of France, Francois Hollande, Provided the Keynote Address at the Jeju Peace Forum Using ARHT Media’s HoloPresence Technology on June 26, 2021Media Advisory: This morning, the COVID-19 Immunity Task Force (CITF) and Statistics Canada will release final results from Canada’s most representative antibody study