GroveWare Technologies: Seeking Its Piece of the $1.3 Billion Market for Apps That Can Reduce Paper
TORONTO, March 1, 2013 /PRNewswire/ -- GroveWare Technologies Ltd. (OTCQB: GROV) - a provider of enterprise mobile solutions connecting workforces by smartphones and tablet devices, continues its pursuit of both economic and ecological benefit. They do this by using their proprietary MobiTask mobile document technology to reduce and ultimately replace the use of paper for business.
The market for apps that can reduce paper, such as what GroveWare provides, is estimated to be about $1.3 billion. "Our objective is to become the market leader of mobile process automation and capture 10 percent or more of this market within the next three years," comments Hrair Achkarian, GroveWare's CEO. This goal of Capturing 10 percent of this $1.3 billion market would result in $130 Million in Revenue.
According to a recent report, U.S. businesses use around 21 million tons of paper every year. GroveWare's MobiTask technology, if applied, could replace the need for this paper consumption while providing lower costs, greater access, and improved storage for documents. A recent white paper commissioned by GroveWare suggests even small companies utilizing the GroveWare document technology, that rewards can be significant.
With a Phase I implementation of GroveWare technology, an organization with 500 employees can save approximately $6,000 per month, or $72,000 per year:
- 500 employees x 6 form submissions per month = 3,000 form submissions
- Cost of each form (printing, storage, and disposal) = $2
- 3,000 forms per month x $2 per form = $6,000 per month
- $6,000 x 12 months = $72,000 per year
"GroveWare's innovative technology is further validated by our partnership with technology leader, Verizon Wireless, Apple, and Samsung. We are on the path to become the standard in mobile e-forms technology," says Achkarian. "Because GroveWare's technology is utilized through an app and not a hard installation, our entry barriers are limited primarily to customer awareness. Like a music download, we can be anywhere and everywhere our customers need a superior technology to preserver documents from the office or field."
The company has a significant amount of technology and there is not an equitable competitor in the industry at this point. This has positioned the company to secure a significant amount of market share with some of the larger industries in the world of commerce. The company has already penetrated such markets as government, education, construction, law enforcement, field force automation and general inspections.
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About GroveWare Technologies Ltd.
GroveWare is one of North America's leading providers of mobile solutions to enterprise, connecting workforces by mobile device to a wide selection of ERP systems and helping American businesses and institutions to enhance productivity and improve profitability by mobilizing and automating business processes. GroveWare's showcase software, MobiTask, is a wireless client application compatible with all smartphones and tablets including: iPhone®, iPad®, BlackBerry®, PlayBook™, and all devices using the Android™ or Windows Mobile® wireless platforms. MobiTask mobilizes employee tasks in the field and connects them directly to the organization's enterprise software systems. MobiTask allows organizations to rapidly and cost-effectively deploy mobile solutions for workers on the go. MobiTask provides the convenience of using dynamic electronic forms created using GroveWare's eXFORMA™ middleware to collect field data, manage workflow, HR and CRM tasks wirelessly, store documents locally and integrates quickly with most ERP systems and back-end databases on any application such as Oracle® e-Business Suite™, PeopleSoft™, SharePoint™, Kronos® Workforce Central™, MS Dynamics™ or SAP®. Users can remotely and wirelessly clock-in/out, approve and initiate workflow tasks, or use dynamic e-Forms for inspections, licensing and data collection all from their smartphones. GroveWare is especially targeting the government, construction, healthcare, and law enforcement sectors and its successes to-date and rapidly growing interest from these and other quarters of business, provide exciting growth challenges and opportunities for the company.
Safe Harbor Statement: Certain statements and information included in this release constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
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