Conac Software Corporate Update Newsletter
Conac Software Corporation
Corporate Update
November 1999
In an effort to maintain a flow of information to the investors, this update
will give you an insight into current activities of interest within the
Conac Software Corporation, (COT:VSE).
The construction industry is rapidly adopting technology solutions, as
efficiency and accuracy are becoming more and more critical to survival
within this sector. Conac's suite of project management and accounting
software tools is addressing the requirements of the industry in a manner
that has not been seen before. Recent sales activity in the US office has
underlined the fact that Conac has developed a line of products that are
fulfilling the industry's requirements. Product development is integral to
customer satisfaction and long-term growth. The suite of products has been
developed in away that allows for quick and easy additions to the current
features within the software.
The US. Office
Conac has historically generated approximately 95% of its revenue from the
Canadian market. The addition of the new sales and marketing team in the
Redmond, Washington office, has seen encouraging results, which will
certainly alter this trend.
Courtney Stearns and his team have implemented initiatives throughout the
month of August 1999 and the company is being rewarded for these efforts
with good sales figures for both September and October. Feedback from the
recent trade show in New Orleans has generated further exposure for the
company and Courtney received three new orders at the trade show with plenty
of leads to follow up on. In the first two months of real sales activity in
the US office, Conac averaged just over US$90,000 per month, which will be
reflected in the first quarter financial statements for the fiscal year
ending July 31, 2000.
With this kind of growth out of the US, and the continued success that has
been achieved in the Canadian market, Conac is anticipating significant
growth in its revenue stream.
Product Development
Using their extensive experience in the construction industry, management
has developed a suite of products in such a way that the modification and
refinement of the product can be achieved quickly and efficiently. It is
imperative that a client's requirements are met and Conac's ability to add
additional unique features to its product line generates client confidence
and loyalty.
Recent developments to the product line include, Custom Report Writer, which
allows the user to design their own reports, invoices, cheque formats, etc.
to suit each company's requirements. The new Parts Database handles items
relating to Purchase Order, Inventory, Billings and Estimating, thus giving
the user true integration and flow of data throughout the system with
maintenance of only a single file. The Service Dispatch System and
Sub-Contract Module have been included within the product line to address
the vast service industry, ensuring that our goal of maintaining client's
satisfaction is met.
Corporate Awareness
To create more investor confidence, and to create new shareholders, it is
imperative that news and industry information is disseminated to the
investment community. Conac has developed a powerful piece of software,
which is being accepted very well by the industry. A cumulative growth of
sales generates significant revenues for the company, steadily growing the
fundamentals of Conac. This information can be obtained from Quarterly and
Annual reports, however, in the interim, this newsletter will be used to
report progress being made by Conac.
The Investor Digest recently printed a report on Conac and the company has
been profiled in the Tech Stocks section of the T-Net British Columbia
website at www.bctechnology.com. The company will continue to attend trade
shows and advertise in industry journals, which generates interest from both
the industry and investment communities.
Please feel free to contact either Geoffrey Wall or myself at 604.642.6266
or 1.800.663.2338 if you have any questions regarding the above information.
In addition you can contact us by e-mail at investor@conac.com or visit our
website www.conac.com for further details.
Regards,
Allan Thompson
Corporate Communications |
