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@verofax
Infographic:-Verofax Digital solution to Engage Shoppers & Drive Conversions
Verofax – Tech Company Elevating Experiences with Web 3 Technology
Additionally, Verofax digital Twinning and traceability solution enables compliance and sustainable claims verification.
Know more: https://verofax.com/
Augmented Reality Solutions
Verofax – Tech Company Elevating Experiences with Web 3 Technology
Founded in 2018, Verofax is at the forefront of revolutionizing Customer experiences across industries with innovative AI Augmented Reality solutions.
Know more: https://verofax.com/retail
Marketing’s Cookie-Less Future
The advertising and marketing landscape is on the brink of a significant shift towards privacy, leading us toward a cookie-less future. Over the past decade, marketers have leveraged third-party cookies to fine-tune their approaches, foster brand-customer relationships, and measure the effectiveness of their campaigns
[[1](https://www2.deloitte.com/us/en/insights/topics/marketing-and-sales-operations/global-marketing-trends/2022/the-future-of-marketing-in-a-third-party-cookieless-world.html)]. However, increasing concerns over data privacy and the misuse of personal information, coupled with tightened regulations and technological advancements, have led to the phasing out of these cookies (G2: The cookie-less future).
The third-party cookies that used to provide vital insights into customer behaviour and enable targeted marketing will soon be obsolete, with Google planning to eliminate them by 2023. The impact of this decision on the advertising and marketing industries is profound, prompting a race to find viable alternatives. Advertisers, publishers, and marketers are now shifting their strategies to amass quantities of reliable and accurate customer data, often through first-party resources.
One emerging trend set to revolutionize the marketing industry in the post-cookie era is interactive packaging. These innovative packages can generate real-time data, revealing deep insights about customer behavior, preferences, and trends. With the potential to provide immediate, in-store recommendations, this technology holds immense conversion potential. The adoption of interactive packaging solutions can significantly supplement the loss of third-party cookie data, enabling marketers to continue delivering personalized and engaging experiences.
As we transition towards a cookie-less future, high-growth brands are taking the lead, strategically deploying first-party data to drive customer engagement and growth. Data strategies are evolving, with a growing emphasis on delivering personalized content via dynamic creative optimization and using data to serve ads to users via programmatic media.
Moreover, in this changing landscape, brands should reconsider the effectiveness of hyper-targeted advertising. As data privacy takes center stage, marketers are encouraged to strike a balance between personalized customer experiences and respect for customer privacy. Furthermore, marketers should reassess the need for over-targeting, and instead, focus on broader brand-building strategies.
In conclusion, while the shift towards a cookie-less future is challenging, it presents an opportunity to reorient marketing strategies, focusing more on first-party data, innovative technologies like interactive packaging, and broad-based brand-building strategies. The future may be cookie-less, but it is certainly not data-less. Rather, it presents a more privacy-centric and innovative data landscape that still allows for significant customer engagement and growth.
Blog source: https://verofax.com/news/marketings-cookie-less-future
Predictive analytics, omnichannel experience & inventory intelligence Verofax is a smart asset management & tracking solution for retail bus
Create immediate value with increased visibility, collaboration and system-wide innovation
Improve staff productivity with data analytics, compliance management and intelligent inventory management. Achieve greater control on procurement and distribution with granular traceability. Trace inventory globally and validate transactions with customized user interface per stakeholder.
Verofax, the leading MarTech solution for marketing and operational efficiencies, was crowned the winner of the Artificial Intelligence Awar
Verofax Wins Artificial Intelligence Award at LEAP23
Verofax, the leading MarTech solution for marketing and operational efficiencies, was crowned the winner of the Artificial Intelligence Award at the Rocket Fuel Startup Competition during the LEAP 2023 event in Riyadh (Feb 6-9). The award, powered by the Saudi Arabian National Technology Development Program and worth $150,000, recognizes Verofax’s disruptive approach to product digitization, utilizing cutting-edge artificial intelligence and computer vision to deliver unmatched marketing results.
Infographic:- Boost Tourism Experiences with Verofax
Bring your destinations to life. Captivate visitors with
Augmented Reality experiences. Offer multi-lingual AI tour
guide services for exceptional tourist experiences
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VeroFax Transforming Consumer Packaged Goods (CPG) with Blockchain
Drive brand virality and repeat purchases through gamified experiences with augmented reality Boost Conversion with tokenized rewards & mixed reality gamified environments Turning Products Into Brands’ Best Marketing Solution
Know more: https://www.verofax.com/consumer-packaged-goods-cpg
Verofax secures $1.5M in pre-Series A to expand its Traceability as a Service Offering
Verofax Limited, an Asset Digitization and Traceability solutions provider, today announced closing a $1.5M pre-Series A round led by led by Benson Oak and Wami Capital, with Vernalis Capital and 500 Startups completing the group.
Verofax utilizes patented technology incorporating Blockchain, Augmented Reality and Artificial Intelligence to provide ‘Traceability as a Service’, enabling brands to turn their offline products interactive, and manage their entire supply chain to trace goods, fend off counterfeit activities, and improve manufacturers’ productivity. Brands can extend their reach directly to end-consumers, thereby increasing consumer intimacy with direct engagement, and leveraging the boom in NFTs and metaverse experiences.
The funds will be used to expand the Company’s sales and marketing activities on a global level, ahead of a planned Series A round later in 2022. Verofax solutions are applicable to a wide range of industries (Retail and CPG) and are already used by leading brands such as Anheuser Busch Inc. Verofax is a Microsoft Gold Partner, and has secured a global network of distributors and resellers, and co-selling on enterprise solution platforms Microsoft AppSource, Amazon AWS, and Ant Group’s AntChain.
Wassim Merheby, CEO of Verofax, said, “Our solution helps brands turn their products into a direct-to-consumer communication channel and deliver amazing experiences to drive growth and boost loyalty while also promoting greener product choices and ESG auditability. Verofax also helps turn give-aways into collectible and tradeable NFTs, interoperable across several metaverse environments. We are thrilled to be joined by investors that will help accelerate our growth trajectory through their collective expertise, network, and leadership.”
Robert Cohen, Managing Director of Benson Oak Ventures, said, “We have a very specific investment thesis that brands will leverage Web 3 & NFTs to reinvent their engagement & business models with consumers, creating entirely new service categories. Verofax has demonstrated early product market fit, leveraging its proprietary technology to sell its Traceability solution to many different types of brands and help them navigate this new world. We have been incredibly impressed by Wassim and the whole Verofax team, and thrilled to be making this our first investment in the UAE.”
Chetan Mehta, CEO of Wami Capital, said, “Verofax’ blockchain-based traceability and validation solution empowers brands in the consumer goods and retail industry to promote sustainable products and allows consumers to choose greener brands and enjoy immersive experiences. Verofax traceability prevents counterfeiting in the supply chain across pharmaceutical, manufacturing, consumer, retail and logistics. We look forward to working with the Verofax team to accelerate the adoption of their solution across our ecosystem.”
About Verofax
Verofax is a blockchain-enabled Asset Digitization and Traceability solution provider with a presence across North America, Europe, Asia and MEA regions. Verofax’ solution is available across multiple cloud environments, helping businesses transform its physical products to interactive, and enable meaningful engagements with immersive user interfaces. For technical matters, visit Verofax at https://www.verofax.com or contact [email protected].
About Benson Oak Ventures
Benson Oak, with a new office in Abu Dhabi, is a venture capital firm with 20 years experience in Europe, the US and the Middle East, with an increased focus on Web3 and ‘passionware’ – where everyone is a business. Investments have included Internet security leader AVG, video marketing platform Promo.com, crypto wallet ZenGo and HCM platform Harri. http://bensonoakventures.com.
About Wami Capital
Wami Capital is the Single-Family Office of Transworld Group headquartered in Dubai, UAE. In addition to managing a global portfolio of different asset classes, it focuses on investing and managing an alternate investment portfolio of venture/start-ups and has a portfolio of close to 50 startups across India, Israel, Middle East and the United States. Besides capital, Wami also provides the relevant mentorship and operational support for global expansion to its portfolio companies. https://wamicapital.com.
About 500 Startup Sanabil MENA Fund
500 Startups (500), one of the most active global early stage venture capital firms, has partnered with Sanabil Investments, a financial investment company focused on global private investments in venture capital, growth and small buyout. This follows the recent announcement of the establishment of 500 Startups’ new MENA regional headquarters in Riyadh. https://ecosystems.500.co/sanabil500accelerator.
About Vernalis Capital
Vernalis Capital is the family-owned investment company of Bala Chandra, founder of Vernalis. Vernalis Capital believes in providing entrepreneurs strategic leverage and seeks to build an ecosystem of synergistic companies which helps entrepreneurs pursue their own vision and goals while being supported wherever required. With a strong global network of partners and alliances, Vernalis Capital opens access to global managerial talent and mutually beneficial networking opportunities. https://www.vernaliscapital.com.
Blog source: https://verofax.com/news/verofax-secures-1-5m-in-pre-series-a-to-expand-its-traceability-as-a-service-offering
Boost In-Store Retail Productivity
Verofax – Tech Company Elevating Experiences with Web 3 Technology
Founded in 2018, Verofax is at the forefront of revolutionizing Customer experiences across industries with innovative AI Augmented Reality solutions.
Know more: https://verofax.com/retail
Verofax closes $3M funding to enhance AI & AR experiences for tourists and sports fans, partnering with Plug & Play Tech Center.
Verofax secures $3M in Bridge funding to deploy AI & AR experiences to tourists and sports fans
Verofax Limited, a Web3 services company, today announced closing a $3M bridge round led by international investors Plug & Play Tech Center, Navig8 Group, King Abdullah University for Science and Technology, Trove Capital UK follow-on investment, Jawa Brothers Advisory, with Alzamil Pedco CVC and Tracecore CVC completing the list of investors.
Immersive Virtual Reality
We’ve seen firsthand how AR and AI transform #brand engagement through our work with leading companies globally. How Leveraging AI/AR experience can create real impact and drive business growth to your business.
Know more: https://verofax.com/retail
MOU Between Verofax Asia and Distichain to Enable Empowered Digital Global Trade
DUBAI / KUALA LUMPUR, Jan 21, 2022 – (ACN Newswire) – Under the patronage of YB Tan Sri Datuk Seri Panglima Haji Annuar Bin Musa, Malaysian Minister of Communications and Multimedia, and with the participation of Malaysia Digital Economy Corporation (MDEC), a Memorandum of Understanding (MoU) was signed on January 12th, 2022, between Capt. Koh Chen Tien, Chairman of Verofax Asia, and Mr.Haisam Jamal, CEO of Distichain. The event took place in the Address Hotel Dubai Marina, where attendees from around the world were present for the opening of Malaysia Digital Week, taking place at Expo 2020 in Dubai, UAE.
The aim of the MoU is to create the first digital ASEAN B2B cross-border trade platform to facilitate a potential of RM 50 Billion Malaysian trade internationally with seamless digital transactions over the next 5 to 10 years. The collaboration between Distichain and Verofax Asia will offer a platform that delivers Digital B2B marketplaces as a service (MAAS) to enterprises by offering full marketplaces or through API integration.
Using blockchain and AI as core technologies, the platform digitizes global trade with end-to-end transactions through its ecosystem of supply-chain, verification, and trade finance providers. The solution enables suppliers to readily plug their catalogs, update product data, manage routes and orders, verify documentation and access aggregate financing and logistics all in one place. This unique platform that simplifies, secures, and empowers every participant in a trade.
“The signing of this MoU is an important step for Distichain’s ambition to continue the further development and expansion of its solution. We are especially pleased to be taking this step alongside our partner Verofax Asia, and impact the ASEAN trading industry with rapid digital transformation through our one-day marketplace activation approach,” said Mr Haisam Jamal.
Captain Koh added, “This platform will instantly digitalize the entire export and import process in governmental, non-governmental enterprises as well as SMEs. It will generate low-cost opportunity to digitize processes, introduce trade finance and automate supply-chain across all industries, accelerating economic growth in Malaysia and the ASEAN region. Through this partnership agreement signed today, we will further develop our technologies to meet the ongoing digitalization of international trade. Verofax Asia will have a massive impact on the performances of exports and imports with rapid digitalization, all the while building a resilient digital infrastructure and foster innovation for the recently signed Regional Comprehensive Economic Participation (RCEP) Trade Agreement, which came into effect on 1st January 2022.”
About Verofax: Verofax utilizes patented technology incorporating Blockchain, Augmented Reality and Artificial Intelligence to provide ‘Traceability as a Service’, enabling brands to turn their offline products interactive, and manage their entire supply chain to trace goods, fend off counterfeit activities, and improve manufacturers’ productivity. Brands can extend their reach directly to end-consumers, thereby increasing consumer intimacy with direct engagement, and leveraging the boom in NFTs and metaverse experiences. Visit: www.verofax.com, or Email: [email protected].
About Distichain: Distichain delivers B2B marketplaces as a service (MAAS) to customers using blockchain and AI, digitizing global trade with end-to-end transactions through its ecosystem of supply-chain, verification, and trade finance providers. SMEs and enterprises alike benefit from automated transactions governed by the system to deliver door-to-door border agnostic trading, with on-platform trade compliance present rules. Using smart contracts, Distichain ensures the highest levels of data privacy, and by connecting to innovative solutions within Fintech and Supply Chain, it facilitates transactions backed by instant trade finance with zero email trading. Distichain’s objectives are to simplify cross-border trading, secure end-to-end transactions, and empower decision-makers with real-time AI analytics. Visit: www.distichain.com, or Email: [email protected].
4 Benefits of Supply Chain Traceability Solutions for Your Business
As firms add new partners, grow into new locations, and strive to fulfill ever-changing regulatory requirements, today’s global supply chain requires increased visibility. Implementing supply chain transparency has become essential for businesses to assure quality, secure products, protect consumers, optimize inventory location, and ensure on-time market delivery.
To meet these requirements, companies require tools that support faster reaction times for managing potential recalls and avoiding dangers posed by faked goods and counterfeit items that could harm brands and compromise customer safety. Businesses must use technology that enhances their ability to monitor and trace products across the product lifecycle throughout the supply chain.
Overview of Supply Chain Traceability Solutions
Traceability in the supply chain enables the tracking of products from the source to the customer. Supply chain traceability examples include using blockchain technology, customizable tracking templates, and technology-backed package labeling linked to unique digital product IDs. Businesses can respond swiftly to costly supply chain interruptions to mitigate risk and speed up any necessary recalls Chain Traceability Solutions.
Creating a transparent supply chain allows businesses to scout and clear bottlenecks to maintain control. Supply chain traceability is also essential to many businesses for sustainability and CSR initiatives.
According to Bain’s Global State of Traceability Report, a conversation with 150 top supply chain professionals indicates that 68% of executives consider traceability to be “very or extremely critical.” This is evidence that supply chain traceability solutions are essential for developing data systems with high integrity for valuable assets.
Benefits of Supply Chain Traceability Solutions
Traceability in the supply chain is the key to understanding how products are manufactured, where they’ve been, and where they’re going. Below are the benefits of traceability in supply chains that every business should consider.
1. Brand protection and consumer satisfaction
Customers evaluate a company based on product quality and response to an issue. Brands cultivate consumer loyalty by being honest and providing constant product and service excellence. Customers are lost when brands fail to react to complaints and problems.
Supply chain traceability is useful when investigating a consumer complaint. It is also necessary when evaluating a prospective recall and administering an actual recall.
Any large recalls have a substantial effect on a company’s stock performance and bottom line. Implementing a traceability solution will expedite recalls, strengthen collaboration with authorities, facilitate improved information exchange with customers, and control the damage to brand reputation. Only with a solid supply chain traceability solution can batch recalls be conducted more rapidly.
All the things you produced and sold must be labelled to determine their origin. Manufacturers can trace a defective unit’s life cycle in reverse. The information gathered via traceability includes the date and time of production, machine used for production and packing, staff involved in the production and packaging, raw materials, and inventory locations.
2. Transparency about sourcing
According to the 2021 “Transparency in an Evolving Omnichannel World” Research by FMI and NielsenIQ, approximately three-quarters of respondents believed that it is “critical” for brands and manufacturers to be transparent, such as:
Calculating a manufactured product’s carbon footprint
Lessen waste in the supply chain by generating data via product tracking and tracing
Make data-driven predictions in the supply chain to reduce costs, improve efficiency and access intelligent insights
3. Discovering supply chain weak areas to prevent forgeries and theft
Among the worst events that can happen to a business is its products being stolen or counterfeited.
Not only do counterfeits result in an immediate loss of sales, but customers may also lose confidence in the brand. If someone receives a substandard counterfeit product using a brand’s name and emblem, there is a good possibility they will be disappointed with them and take their wallet elsewhere. If items are misdirected or stolen, the company loses money and may be faced with a more significant supply chain issue. Other supply chain bottlenecks include poor storage methods, inefficient operating processes, poor inventory management, insufficient supply chain transparency and limited resources.
Traceability in the supply chain functions as a forensic tool to combat counterfeiting, diversion, and many other issues. That is why investing in data analytics technology can help to gain data insights from specific bottlenecks, understand how to solve and prevent the same issues in the future.
For instance, a company can identify where a batch of food products may have been damaged or compromised through food traceability and sustainability, which data will reveal if a shipment deviated from its specified route, which could suggest theft or other misdeeds detrimental to bottom line and reputation.
To eliminate counterfeits in the market brands can implement product-level anti-counterfeiting measures by using technology like smart cards, color-shifting links, RFID tags, UV inks, digital decoding, holographic images, unique identification codes on packages and electronic tax verification systems. Integrating multi-faceted anti-counterfeit programs into the supply chain can protect companies against counterfeiters.
Verofax is among the Top UAE Future100 to Positively Impact the Nation’s Future Economy!
4. Helps in building stronger partnerships
The benefits of supply chain transparency extend beyond your consumers. A company with a transparent supply chain fosters a culture of trust across its whole ecosystem and attracts suppliers and partners with similar values.
Moreover, a culture of trust will facilitate open communication with your suppliers, the formation of long-lasting partnerships, and the constant improvement of supply chain partnerships. When suppliers see that honesty and openness are valued, they are much more inclined to settle production difficulties with ease, lend better credit terms and supply higher quality products.
Companies should also urge their suppliers to get the latest traceability powered inventory management systems to enhance production, and improve management. These can be achieved by enhancing supply chain communication, exchanging quality control data and inventory management best practices, and providing compliance training.
Supply Chain Traceability Solution is the Next Revolution
In an increasingly uncertain global economy, there is rising pressure on leadership teams in every business to increase sustainability, performance, and resilience. A supply chain traceability solution can help companies achieve these objectives and gain a competitive edge.
Companies with extensive traceability systems can deliver the best product to the correct location at the most appropriate time with accurate customization, at scale.
Blockchain is also a powerful tool emerging in today’s supply chain processes to address deficiencies in end-to-end traceability, financing, coordination and speed of product delivery. Meanwhile, Web3 offers a compelling case, especially for the shipping sector to boost collaboration in disparate systems.
Companies will also be able to meet the primary sustainability needs of stakeholders and regulatory obligations with a sustainable traceability app. In addition, they will be more resilient to supply and demand disruptions. These capabilities will produce robust growth and revenues and enable the development of new business models.
Blog source: https://verofax.com/news/4-benefits-of-supply-chain-traceability-solutions-for-your-business
Our Logistics Asset Management Solution tracks, optimizes, and helps you validate the supply chain Track and apply data intelligence for a seamless and interoperable system across stakeholders.
Know more: https://verofax.com/logistics
Verofax to raise US$750,000 on Beban Crowdfunding Platform
Verofax, the leader in brand marketing and AI-powered solutions for enterprise, was featured on Beban 2 (Episode 9, Mar 1, 2023), the hit entrepreneur & investment-themed reality TV program airing on Bahrain TV, Alrai TV and Dubai TV, as well as Shahid, the region’s largest video-on-demand platform.
Beban is the world’s first TV show to provide an interactive crowdfunding element – Beban Crowdfunding, a secure platform licensed and regulated by the Central Bank of Bahrain which offers retail and accredited investors a unique interactive access to private equity investment opportunities, such as Verofax.
GCC investors can participate in Verofax’ US$750,000 fundraising round through the Beban Crowdfunding platform, with investments beginning as reasonably as $100. The new investors will be joining leading VC investors including 500 Startups, Dubai Angel Investors, Dubai Silicon Oasis, Benson Oak Ventures, Privity FZ LLE and Wami Capital.
An alumnus of government-sponsored programs MBRIF (Mohammed Bin Rashid Innovation Fund & Accelerator) and Hub71, the UAE-based Verofax is a growth-stage startup serving a diverse clientele including Fortune 100 brands and sustainable enterprise through operations in Europe, North America, Asia, Africa and the Middle East.
Verofax recently won the award for ground-breaking use of Artificial Intelligence at LEAP Saudi Arabia (Feb, 2023), and announced the setting-up of operations in Ryadh, a key growth market for 2023, with the Saudi Ministry of Communications and Information Technology (MCIT) Tech Champions, a soft-landing accelerator powered by Plug and Play.
Wassim Merheby, CEO of Verofax, said “Participating in the Beban program provided us with a platform to showcase our technology, and through the Beban Crowdfunding Platform, to offer retail investors an opportunity to invest in our solutions which disrupt online marketing, and deliver unmatched results to customers and amazing experiences to end consumers.
“Investors in Verofax will benefit from the potential disruption to online marketing, and turning the products into a brand’s best marketing channel. At Verofax, our aim is to empower brands to connect with their customers in new and innovative ways,” said Merheby.
Fatima Al Naqbi, Chief Innovation Officer at the Ministry of Finance and MBRIF representative, said: “We are thrilled to see such progress at Verofax, a company that we have proudly supported throughout its growth journey. Moreover, it’s exciting to offer retail investors the chance to share in the growth of a dynamic company, transforming the online marketing industry through its innovative solutions.
“MBRIF is committed to accelerating innovation by providing startups with the necessary resources to achieve the goals of expansion and growth. Through our Accelerator program, we offer tailored support, paving the way for these companies to succeed. Our role in Verofax’ journey is testament to our unwavering support of innovative and ambitious companies as they strive to impact the community. We look forward to continuing our support,” said Ms Al Naqbi.
Verofax has developed a proprietary, patented AI-powered product winning service that provides enterprises with increased supply chain transparency, reduced operational cost, and enhanced customer engagement. By leveraging Verofax’ award-winning, scalable technology with low-cost rapid deployment, businesses can begin to accrue benefits immediately with:
* MarTech solutions: Turning every product into an interactive direct communication channel to consumers, allowing brands to acquire and retain customers by providing relevant and personalized recommendations. By simply scanning unique identities on primary packaging, brands can convert the 60% of consumers that decide on a purchase in multi-branded stores while lowering acquisition costs by 20X vs. online marketing channels.
* Web3 rewards: helping brands to build lasting relationships with consumers and increase Customer Lifetime Values (CLTV) by adopting Web3 rewards such as brand NFTs that cost a fraction of loyalty programs.
* Retail and eCommerce virtualization: Delivering immersive and personalized shopping experiences with in-store Augmented Reality and 3D shopping experiences in e-commerce marketplaces, offering delight to 83% of consumers that expect an upgraded shopping experience vs. the current flick & click experience.
* Supply Chain transparency: providing brands with end-to-end inventory traceability to optimize availability and prevent price dilution. Counterfeiting and product diversion eats up to 30% of some industries, damaging brands’ reputations and posing severe threats to public health.
* Sustainable passporting: Helping brands become sustainable by measuring and certifying their products across complex multi-tiered supply chains and engaging directly with consumers for loyalty and advocacy.
Verofax’ solution is validated and available on partner platforms, including Oracle, Microsoft, Ant Group, Zebra, SAP and AWS. Discover the benefits of partnering with Verofax at www.verofax.com.
Investors interested in learning more about the fundraise and participating in Verofax’ journey through the Beban Crowdfunding platform should visit the Beban website at www.beban.me, and refer to the Verofax crowdfunding page at www.beban.me/campaign/verofax-.
Blog source: https://verofax.com/news/verofax-to-raise-us750000-on-beban-crowdfunding-platform
Verofax Wins Artificial Intelligence Award at LEAP23
Verofax, the leading MarTech solution for marketing and operational efficiencies, was crowned the winner of the Artificial Intelligence Award at the Rocket Fuel Startup Competition during the LEAP 2023 event in Riyadh (Feb 6-9). The award, powered by the Saudi Arabian National Technology Development Program and worth $150,000, recognizes Verofax’s disruptive approach to product digitization, utilizing cutting-edge artificial intelligence and computer vision to deliver unmatched marketing results.
An esteemed panel of judges, consisting of successful serial entrepreneurs, investors, and Dragons from BBC’s Dragons’ Den, including Ghazal Alagh, Karen Brady CBE, James Caan CBE, Steven Bartlett, and Tala Al Jabri, chose Verofax from among 90 semi-finalist global startups.
“We are thrilled to receive this recognition and grateful to our partners and customers who have helped us get to where we are today,” said Wassim Merheby, CEO of Verofax. “Our goal is to empower brands, retailers, and sustainability agencies with the tools they need to secure their supply chain, simplify compliance, and transform customer experience. With our innovative AI and blockchain solutions, we are leading the way in product digitization and helping to create a more sustainable future.”
Verofax has developed and patented an AI powered product winning service that provides enterprises with increased supply chain transparency, reduced operational costs, and enhanced customer engagement. By leveraging Verofax’s scalable blockchain technology with low-cost and rapid deployment, businesses can accrue immediate benefits, including:
MarTech solutions: Turning every product into an interactive direct communication channel to consumers, allowing brands to acquire and retain customers and provide relevant and personalized recommendations. By simply scanning unique identities on primary packaging, brands can convert the 60% of consumers that decide on purchase in multi-branded stores, all while lowering cost of acquisition by 20X vs online marketing channels.
Web3 rewards: Helping brands build lasting relationships with consumers and increase Customer lifetime values (CLTV) by adopting Web3 rewards such as brand NFTs that cost a fraction of loyalty programs.
Retail and eCommerce virtualization: Delivering immersive and personalized shopping experiences with Augmented reality in store and 3D shopping experience in ecommerce marketplaces, offering delight to 83% of consumers that expect an upgraded shopping experience vs current flick & click experience.
Supply chain transparency: Providing brands with end-to-end inventory traceability to optimize availability and prevent price dilution. Counterfeiting and product diversion eats up to 30% in some industries, damaging brands reputation and posing serious threats to public health.
Sustainable passporting: Helping brands turn sustainable by measuring and certifying their products across complex multi-tiered supply chain and engage directly with consumers for loyalty and advocacy.
Verofax is supported by leading government sponsored programs such the Hub71, the Mohammed Bin Rashid Innovation Fund and leading investors such as 500 Startups, Dubai Angel Investors, Dubai Silicon Oasis, Benson Oak Ventures, Privity FZ LLE and Wami Capital.
With offices in key regions such as Europe, Asia, the Middle East, Africa, and North America, UAE-based Verofax serves a diverse clientele, including Fortune 100 brands like Budweiser, Corona, and sustainable entities. Verofax has confirmed its strategy to set up offices in Saudi, a key growth market for 2023, via Plug and Play powered MCIT Tech Champions soft-landing incubator.
For more information about Verofax, please visit www.verofax.com.
About Verofax
Verofax is a worldwide leader in product digitization, providing innovative solutions that empower brands, retailers, and governments to secure supply chain and transform customer engagement. Utilizing the latest technologies such as blockchain and AI, Verofax offers a comprehensive suite of tools for immersive omni-channel consumer engagement and compliance validation. By leveraging Verofax solutions, brands can ensure that their supply chain is compliant, sustainable and that customers are engaged at every step of the product lifecycle. Discover the benefits of partnering with Verofax at www.verofax.com.
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Boost Loyalty with Shopper Engagement & Personalized ExperiencesTurn Shopping Immersive with Augmented ExperienceIncrease Loyalty with Personalized Recommendations and PromotionsBoost Sales & Efficiency with AI Shopping GuideBoost Retention with AR Experiences and AI Recommendation to Achieve Long Term Value and Advocacy
Know more: https://verofax.com/retail