MARKHAM, ONTARIO--(Marketwired - April 6, 2017) - VIQ Solutions Inc. ("VIQ Solutions" or the "Company") (TSX VENTURE:VQS) is pleased to announce that Spark & Cannon, VIQ's Australia based reporting and transcription services and technology distributor, was awarded a new multiyear contract with the South Australia Employment Tribunal ("SAET") for secure integrated software and transcription services.
The contract term is three years with one option to extend for an additional two years. Based on historical workflow, estimated revenue for the five year period is AUD $1.5M.
"This significant contract continues the positive trend of higher revenue, higher margin integrated software and service wins for Spark & Cannon," said Sebastien Paré, President and CEO of VIQ Solutions. "Sophisticated customers are increasingly turning to Spark & Cannon not just for back end transcription services, but also integrated front end capture and technology solutions."
The SAET provides timely, fair and independent resolution of workers compensation matters and helps injured workers return to meaningful employment. SAET resolves disputes through agreement at a conciliation conference, or through a decision of the Tribunal at a hearing.
VIQ Satellite software will provide multichannel audio and video capture of SAET hearings. From their office in Adelaide, authorized Spark & Cannon staff will remotely monitor and control recording in multiple SAET hearing rooms simultaneously via secure network connection. Spark & Cannon will also securely host the SAET central data repository.
In addition to the recording and monitoring responsibilities, Spark & Cannon was awarded 100% of the transcription services for the contract.
VIQ's innovative NetScribe transcription engine will automatically and securely apportion audio from the SAET server to Spark & Cannon's team of expert transcriptionists. NetScribe allocates work to multiple transcriptionists simultaneously, allowing Spark & Cannon to provide complete transcripts to SAET within hours of submission. Transcription is prioritised according to the SAET's schedule and is checked for quality through Spark & Cannon's editing and review process.
SAET will also implement VIQ's innovative AccessPOINT web portal for secure "anytime anywhere" access to proceedings. From any standard web browser, including mobile phones, authorized participants can log in to the customized SAET portal and listen to audio of their proceedings and review notes.
"The SAET contract showcases the best of VIQ's technology integrated with Spark & Cannon's top of the line transcription services," said Matthew Fowler, Managing Director at Spark & Cannon. "Our stellar reputation for secure, professional transcription services continues to open new doors for Spark & Cannon in these types of integrated technology and transcription contracts."
"VIQ is the only provider of complete end to end workflow from point of capture to transcription and reporting as part of the same cybersecure platform," added Mr. Paré. "We are the technology leader for innovative digital capture and transcription platforms for customers like SAET, with future planned expansions including integrated speech recognition workflows, mobility and more."
For more information on what is making the news at VIQ Solutions, please visit our website at http://www.viqsolutions.com/news.html.
About VIQ Solutions Inc.
VIQ Solutions is the leading technology and service platform provider for digital evidence capture and content management. Our secure modular software allows customers to onboard the VIQ platform at any stage of their organization's digitization, from the capture of digital content from video and audio devices through to online collaboration, mobility, data analytics and integration with sensors, facial recognition, speech recognition and case management or patient record systems. VIQ's technology leads the industry in security, meeting the highest international standards for digital/cyber security and privacy, including military and medical regulations.
Our solutions are in use in over 20 countries with tens of thousands of users in over 200 government and private agencies including law enforcement, immigration, medical, legal, insurance, courts, and transportation and transcription services. VIQ also provides end to end transcription services to several large government agencies through our Australia-based reporting and transcription partners. VIQ operates worldwide with partners like security integrators, audio-video specialists, and hardware and data storage suppliers.
Managing digital media evidence is what we do, and we do it better than anyone else.
For more information about VIQ Solutions, please visit www.viqsolutions.com.
Certain statements included in this news release constitute forward looking statements or forward looking information under applicable securities legislation. Such forward looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward looking statements or information in this news release include, but are not limited to, the expected workflow volume and associated revenues of Spark & Cannon attributable to the contract with the South Australia Employment Tribunal.
The forward looking statements or information contained in this news release are made as of the date hereof and VIQ Solutions undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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