Greengrocer's artist son hits sign-printing jackpot by Sue Lowe
The Sydney Morning Herald, Tuesday 20 March 2001, biz.com section
SignIQ secures big US partner by Fran Spencer
The West Australian, Tuesday 13 March 2001, page 29
FLEDGLING Subiaco software company SignIQ is eyeing off lucrative overseas markets after tying up an exclusive alliance with heavyweight US-based business solutions company SVI, which plans to market SignIQ's visual merchandising product in the US, UK, Canada and South Africa.
The agreement, with SVI subsidiary SVI Retail, coincides with an injection of almost $2 million in fresh capital from a group of unnamed WA investors which will be used in part to fund a push into Asian and European markets.
SignIQ was established as a stand-alone company in October, after previously existing under the umbrella of the Fundi Group.
The software which forms the basis of the company's business was developed by a young WA graphic designer, Ben Hoffman, to ease the workload for his father in their family-owned retail business.
"SignIQ was formed in October but (Ben) has been working on the software for something like 10 years now," said SignIQ WA general manager Peter Baker.
"Fundi came in to help get things started, they purchased the international marketing rights and Ben retained the intellectual property and they worked together until SignIQ became big enough to stand on its own." Fundi was initially a major shareholder in the company, but has since sold out - although individual directors remain on the register.
The SignIQ software is touted as providing a simple, cost-effective and comprehensive solution to a retailer's in-store advertising needs by combining text and graphics to produce marketing signage, product labels, shelf labels and price tickets on demand.
The software's fundamental operations consist of three steps - opening a template, entering text and data, and printing off the result.
The template design component enables custom design of individualised, store-specific signs and labels while giving corporate and multi-store retailers control over their branding, pricing and promotional standards.
A base level product starts from about $320, but for bigger multi-store customers the cost could run into the hundreds of thousands.
Fundi Software bought the marketing rights from Mr Hoffman, now a director of SignIQ, in 1996, and in the three years leading up to the establishment of SignIQ the product was taken up by a long list of major Australian retailers. The company's client list includes Amcal Chemists, Cadbury Schweppes, Fox Studios, Retravision, RM Williams, Harvey Norman, David Jones Food Chain and Australia Post.
The alliance with SVI, whose worldwide customer base includes retail names such as Toys 'R Us, Disney and Victoria's Secret, looks likely to add to that in the coming months.
"We approached the Sydney office with our product and they thought it was wonderful and sent it through to the US. They have an exclusive contract with us for 18 months to sell the product in the US, UK, Canada and South Africa," Mr Baker said.
SignIQ was also looking at Asia and Europe, as well as domestically, for further opportunities for expansion.
The recent injection of funds would also be used to develop the software.
"We are looking at Asia and Europe, and at product development including Web enablement and electronic displays," Mr Baker said.
"SVI is also an active participant in Asian markets, and they may well be the reseller there too . . . or we may split Asia into several regions, because of the various political regimes up there."
An Australian Stock Exchange listing was also on the horizon.
"Yes that's certainly been looked at, some say its three years down the track and some say its 10 years away," Mr Baker said. "Acquisition by a bigger player would also be something to consider, and if the right offer came along we'd be open to that."
Smart move: Melanie Smith, Reseller Manager, and
Peter Baker, who says the company is also looking
at Asia and Europe. PICTURE: IAN FERGUSON
Press Contact: Melanie Smith, Reseller Manager, SignIQ Ltd - (08) 9480 0489 or email mls@signiq.com.
Customer List
SignIQ™ is used by some of the biggest retailers in Australia, as well as many independent retailers. The various sectors of the retail industry using SignIQ™ include:
Supermarkets
Chemists
Clothing stores
Sporting goods stores
Hardware stores
Department stores
Electrical and computer goods retailers
Liquor stores
Furniture outlets
Specialty stores
Discount stores
Some of our major customers include:
Amcal Chemists
Soul Pattinson Chemists
John Danks Group (incorporating Home Hardware, Plants Plus and Thrifty Link)
Vua La
Australian Unity Chemists
Leading Edge Group
Cadbury Schweppes
Camera House
Fox Studios
Retravision
RM Williams
Shell (WA)
Porters Liquor
signiq.com
svisolutions.com |
