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Corporate Spotlight

ServTech is a multinational software company that makes Virtual Reality (VR) & Augmented Reality (AR) software services for the engineering, manufacturing, architecture, construction & education industries.
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Interview with NED Gianmarco Orgnoni

$1M MILESTONE REACHED

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ServTech Business Update - $1M milestone reached 

ASX Announcement 20 August 2019 


ServTech Global Holdings Ltd (ASX:SVT) (ServTech or the Company), a multinational software company that creates Virtual Reality (VR) & Augmented Reality (AR) solutions, is pleased to provide a business update on the acceleration of its client growth and distribution partnerships.


Highlights 

  • ServTech builds strong sales momentum during the first two months of FY20, with clients including Volvo Car Italy, Alfacod and Innse Berardi 
  • Contracted revenue for financial year 2020 stands at ~A$1,000,0001 as at 20 August 2019 
  • A$1M milestone achieved within first 2 months of FY2020 
  • Broad and diverse client base, across eight industry segments and three continents


Direct Enterprise Sales 

ServTech increased its pipeline of contracted sales to ~A$1,000,000 during the first two months of the financial year 2020, across key industries and geographical regions.



ServTech continues its diversification strategy into the European market, with ~50% of revenue being currently generated from European clients. 


The Company continues to expand its distribution across Europe with ongoing negotiations with key commercial partners and clients.


Direct sales wins are in various stages of going live, with revenue being recognised in both the September and December quarter.


Direct Enterprise Sales Ongoing Negotiations 

ServTech continues to expand its Virtual Reality (VR) and Augmented Reality (AR) software applications across diverse industries.



ServTech’s wholly owned subsidiary, Vection Italy Srl (Vection) has registered a ~150% increase in contracted sales and ongoing negotiations pipeline during the 1 January 2019 - 31 July 2019 period, compared to the previous corresponding period. 


Corporate Snapshot 


Click here to view the full announcement 

AR SOLUTION

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ServTech Enters Logistics Market – Revenue Generating AR Solution

ASX Announcement 13 August 2019 


ServTech Global Holdings Ltd (ASX:SVT) (ServTech or the Company), a multinational software company that makes Virtual Reality (VR) & Augmented Reality (AR) solutions, is pleased to advise further contract work in a new industry for its wholly owned subsidiary, Vection Italy Srl (Vection).


Vection will deploy its AR technology into the logistics industry via an engagement with leading Italian based logistics and traceability solutions provider Alfacod Group (Alfacod). This initial engagement will generate up to ~$90,0001 in revenues for Vection. 


Highlights 

  • ServTech rolls out its proprietary Augmented Reality (AR) technology to the logistics industry 
  • Partnership with Alfacod to generate up to ~$90,000 in short-term revenue 
  • Discussions to launch this Augmented Reality technology solution to diverse industries and clients 
  • Ongoing negotiation with Alfacod for further distribution of Vection’s existing VR & AR products and services 
  • AR Technology to reduce picking errors and search time


Logistics AR software 

Vection has partnered with Alfacod for the provision of an augmented reality powered “Optimised Picking” software (order picking using smart glasses in warehouse operations) to increase process efficiency and quality in complex logistics activities. Thanks to the latest developments in contextual computing and enterprise AR devices, AR is an attractive tool to increase process efficiency and quality in complex logistics activities.


AR empowers employees in the logistics industry by providing the right information at the right time and in the right place.


Employees typically perform multiple actions when managing an order, such as locating the correct product, scanning and delivering it to the loading dock. Technologies such as AR, facilitate the identification of the location of the correct product, significantly reducing time and associated costs of warehousing operations.


Figure: Rendering of the Vision Picking AR technology 


Warehousing Operations 

Warehousing operations account for about 20% of all logistics costs, with the task of picking accounting for 55% to 65% of the total cost of warehousing operations2 .


The implementation of AR in the picking tasks has the potential to enable significant cost reductions via an improved picking process, while assisting with training of new and temporary warehouse staff. 


By using this system, each worker can see the digital picking list in their field of vision and – thanks to indoor navigation capabilities – see the best route, reducing their travel time by efficient path planning.


Field tests of AR systems have shown significant productivity improvements in warehousing operations. For example, constant picking validation can decrease errors by as much as 40%, considering that every error typically results in high follow-up costs.


  • Picking staff are equipped with wearable AR devices for the picking process 
  • the solution offers digital navigation to find the right route and item more efficiently, while reducing training time 
  • Main objectives: reduce picking errors and search time 


Vision Picking in the Today’s Marketplace3 

Vection’s entry in the logistics sector with an AR solution which enables the picking process supported by augmented reality is not without precedent.


One of the leading logistics companies world-wide, Deutsche Post DHL Group (DHL), recently announced the roll out of their own vision picking technology, in most of its geographical regions, with the expectation of further productivity increases.


Markus Voss, COO and CIO of DHL Supply Chain commented that, via the utilisation of AR powered picking technologies, “the operation is so intuitive, their (employees) hands are free to ‘pick’ and the visual support helps to locate the products really fast and sort them into the intended trolley boxes. Our colleagues are perfectly equipped to carry out picking quickly.”


Click here to view the full announcement

FURNITURE AND FASHION MARKET

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ServTech Technology adopted by Furniture and Fashion Market 

ASX Announcement 5 August 2019 


Vection engaged for works generating revenue of ~$180k


5 August 2019 | Perth, Australia 

ServTech Global Holdings Ltd (ASX:SVT) (ServTech or the Company), a multinational software company that makes Virtual Reality (VR) and Augmented Reality (AR) solutions, is pleased to announce that its wholly owned subsidiary, Vection has added ~$180,000 revenue to its software and technology development pipeline.


Highlights 

  • ~$180,0001 in revenue has been added to Vection’s software development pipeline 
  • Majority of work relates to Vection’s “In-Store 3D/AR Configurator” software technology 
  • “In-Store Furniture Configurator” to be deployed across 100+ potential locations world-wide 
  • Vection’s new “In-Store Fashion Configurator”targets the fashion retail industry 
  • “In-Store 3D/AR Configurator” agreements aligned with Company’s SaaS global strategy


The bulk of this work relates to further development of Vection’s Proprietary “In-Store 3D/AR Configurator” platform. This established and modular platform is already commercially in use across a number of Vection clients’ showrooms worldwide. 


In-Store Furniture Configurator 

The In-Store Furniture Configurator has been commercialised to a limited number of iconic luxury brands to prove the commercial viability of the product, generating over ~$700,000 in revenue for Vection to date.


  • Provide ultra-realistic interactive furniture visualisation leveraging Vection’s proprietary real-time AR/3D technology 
  • Visualise furniture pieces in the real space leveraging Vection’s proprietary AR technology 
  • Ensure seamless adoption and vertical integration across multiple luxury brands’ distribution network and stores; 
  • Collect and analyse data across the brands’ network and customers


The In-Store Furniture Configurator enables customers to customise products in real-time or to visualise physical furniture pieces not currently available in-store, resulting in faster purchasing decisions. 


Figure 1: Vection’s In-Store Furniture Configurator, available for PC, tablet and mobile 

Customers can visualise products in a virtual showroom, interacting in real-time with luxury furniture pieces improving the overall shopping experience and driving shopper engagement. A user could see a rendition of his new couch in his living room, in ultra-high definition. 


The In-Store Furniture Configurator also automatically channels the orders processed through the software to the client’s enterprise resource planning (ERP), logistics and procurement systems.


Figure 2: Vection’s In-Store Furniture Configurator snapshots. 


Click here to view the full announcement

SOFTWARE REVOLUTION

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The ASX-listed company changing the face of software revolution –


“Virtual reality and augmented reality are probably the fastest growing segments of the software industry.”

ServTech Global is currently the only ASX-listed company working exclusively in the virtual reality (VR) and augmented reality (AR) market. 


Since buying European software developers Vection in April this year, ServTech has been shaking up the manufacturing and design industry with its flagship FrameS VR software. 


ServTech is among the first software companies to realise the immense potential of VR and AR outside of the gaming and entertainment world. FrameS is making waves in the industrial, retail and manufacturing sectors for prototyping, modelling, design and collaboration globally.


ServTech now has strong operations in Australia, Europe, the Indian Subcontinent and Asia – generating in excess of $1.8M in revenue in CY18. To top things off, in June 2019, ServTech signed two major EU distribution deals expected to bring in over 7,000 potential brand-new clients. 


But it doesn’t stop there: FrameS has caught the eye of big names like Lamborghini, Volvo, Fendi Furniture and Ferretti. 

Ferretti in VR

 Putting designers in virtual supercars


ServTech Non-Executive Director and COO Gianmarco Orgnoni said there is a wide range of uses for VR in the automotive industry, particularly with these top-tier clients.


“Lamborghini for instance, they use [VR] as a prototyping tool, so it cuts time-to-market and costs for the company,” Gianmarco said.


Designers at Lamborghini are using FrameS to make design changes in the digital world as part of a collaborative process that saves time and money. Instead of waiting for the production facility to make a change when the muse comes to the designers, they can hop into the FrameS software and visualise the change immediately. 


What if we lowered the car’s suspension? What if we changed the paint job? What if we changed the design of the rear bumper? The wait time for these important questions vanishes with FrameS.


Maybe your only chance to test drive a Lamborghini


“You can design a car, upload into the system, visualise it, interact with the car and then do all the necessary changes in real time,” Gianmarco said. 


But Lamborghini isn’t the only car manufacturer dealing with ServTech. 

Speeding things up with Volvo

Volvo realised the potential of ServTech’s software earlier this year after being wowed in an innovative marketing campaign. 


Volvo originally enlisted ServTech for an exclusive global campaign celebrating 40 years of product design safety. Automotive fans tuned into a virtual and augmented reality experience of Volvo’s history powered by Vection’s AR technology. Liking the visual experience so much, Volvo inked up a deal to have Vection stick around. 


Volvo signed a follow-up deal and Vection was enlisted to create a bespoke, one-of-a-kind software for the car makers. 


“We developed an augmented reality solution which is essentially an overlay of the electronic components of the car, and the safety protocols and safety measures put in place in the car,” Gianmarco explained. 


He said the company developed this tailor-made software with the understanding that Volvo prides itself on creating some of the most secure cars in the world. The AR software sets Volvo apart from competitors by creating an “engaging emotional connection” between the company and its clients.


But it doesn’t stop at luxury toys and race cars; the FrameS software is speeding up the design process for products that end up in the hands of consumers.


ServTech and Vection helping decorate your home


ServTech’s Managing Director Gianmarco Biagi was the General Manager of Luxury Living Group, a furniture company representing Fendi Casa and many others.


Biagi used that experience to land a business deal with Fendi. From the partnership bloomed a unique augmented reality application to view Fendi furniture in your home before you bought it. The application was designed to boost user engagement around the world and improve the sales process. 


Welcome to your virtual home


The Fendi application on mobile uses AR to push and pull your ‘what-if’ furniture around the living room before you click purchase on your laptop.

A new era of productivity


Not only does the interactive technology like FrameS help businesses save on time and resources costs, but it allows for around-the-world collaboration. Designers can put on a headset in their own respective country, then step into the same Vection VR design space as someone somewhere else in the real world. 


Collaborating in the industrial space


This allows for interactive virtual collaboration on projects without either designer needing to travel further than their own workspace. 


So it’s no wonder designers are leaping at the opportunity to make the most of VR and AR software


“Virtual reality and augmented reality are probably the fastest growing segments of the software industry,” Gianmarco said.

VR in training and education

Still, Vection’s software is doing more than augmenting retail and luxury through design. International general contractors Bonatti Oil & Gas, for example, use the FrameS technology to train staff in work procedures and new machinery. The VR training process allows for repetition of skills training without a single risk in the real world. Staff at Bonatti are using FrameS to train for dangerous possibilities on the job; a method that can ultimately save 

lives.


Training for the job, in VR


This method of honing your skills in the workplace is a trend popping up the medical sector, the food industry and even military training around the world.


With massive global engagement, deals with the flashiest luxury brands around, intention to reach medium-sized businesses, and approval from the Italian Government themselves, ServTech is pushing the boundaries on VR and AR engagement in your home and workplace.

VIDEO

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