The agreement marks BYND Cannasoft’s commitment to penetrating additional markets and deepening services in consumer goods companies with its legacy CRM platform
Ashkelon, Israel and Vancouver, BC (GLOBE NEWSWIRE) - BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) (“BYND Cannasoft” or the “Company”) announced today that it has signed an agreement for the provision of software services with one of Israel’s leading air conditioning companies. Under the terms of the agreement, the Company will provide Benefit CRM Cloud-Based Software as a Service (SaaS) in special modules that include mobile applications and APIs.
Family - Line Air Conditioner Company sells hundreds of thousands of air conditioners and is the fourth largest company in the production, marketing, and installation of air conditioners in Israel. BYND Cannasoft will design and manufacture modules dedicated to this sector with the intent of realizing the strategy and penetrating additional companies and deepening services in consumer goods companies.
“The air conditioning industry generates billions of shekels in revenue every year in Israel and has enjoyed increasing growth in recent years,” said Yftah Ben Yaackov, CEO and Director of BYND. “This agreement demonstrates the mutual commitment of BYND Cannasoft and Family-Line Air Conditioners to serving the needs of customers, as well as optimizing day-to-day functions.”
BYND Cannasoft’s Benefit CRM enables small and medium-sized enterprises to optimize day-to-day functions, such as sales management, workforce management, contact center operations, and asset management. Benefit CRM is provisioned as SaaS to some of Israel's most recognizable companies. The Company has been marketing its Benefit CRM to approximately 400 clients with a monthly recurring revenue model for nearly 20 years.
About BYND Cannasoft Enterprises Inc.
BYND is an Israeli-based integrated software and cannabis company.
BYND owns and markets a proprietary customer relationship management (CRM) software product, known as “Benefit CRM”. BYND’s Benefit CRM software enables small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities, and asset management. BYND’s next-generation Benefit CRM platform is now ready for BETA testing.
Building on its 20 years of experience in CRM software, BYND has recently begun the development of an innovative new CRM platform, designed specifically to serve the needs of the medical cannabis industry. This new platform will be the first of its kind for the medical cannabis field and the Company is confident it will transform the industry into a more organized, accessible and price transparent market. Data and information collected through the operation of the Cannabis Farm (see below) and the products it produces will allow BYND to test its new Cannabis CRM platform and adjust the platform as necessary. Additionally, operating the Cannabis Farm and selling medical cannabis will bring in additional revenue to further support BYND during the initial roll-out years of its cannabis CRM platform.
Medical Cannabis Business
BYND holds an initial approval from the Medical Cannabis Unit in the Ministry of Health of the State of Israel, for a contactless business license that allows trading in medical cannabis products without contact with the actual substance. This is a unique license that is held by only a limited number of companies in Israel. The Company is in the final stages of obtaining the full license and immediately after receiving it, the Company plans to operate through a licensed medical cannabis farm for the production of the Company's private label for various products and varieties. The products will be produced for the Company and marketed to the pharmacies while paying a commission to the grower for the cultivation and processing of the substance. The Company anticipates that if the license is received in the coming months, it will be possible to market the products immediately and capture a significant market share which can generate significant income for the Company.
For Further Information please refer to information available on the Company’s website: www.cannasoft-crm.com, the CSE’s website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR: www.sedar.com.
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