New Zealand Stock Exchange listed but US-headquartered technology company VMob Group Limited (NZX: VML) has announced that it intends to change its name to Plexure “to accommodate the growing breadth of connected engagements that it is providing to global customers like McDonald’s, IKEA, 7--Eleven and Compass Group.”
The company said the new name had been derived from the Latin plexus, which means “weaving together”. (In English it means a network of nerves or vessels in the body, or an intricate network or web-like formation.)
CEO Scott Bradley said: “That weaving together of multiple channels of digital, tailored engagement is what our clients look to us to provide and this is precisely what we can and do deliver.”
Plexure is currently the name of a VMob service with its own website (plexure.com). Plexure, according to the website “combines data from websites, mobile, point of sale and connected in-store technology to optimise all real-world customer experiences.”
It claims that, “by combining beacons, push messaging and customer purchase data, we generated a 50 percent uplift in in-store engagement and an eight percent uplift in impulse purchase.”
Bradley said the exponential growth in connected devices and connected consumers meant that retailers increasingly wanted to communicate tailored and personalised messages to customers through whatever digital channel or combination of channels is most effective.
“That is the expertise we offer to our clients and while our heritage is mobile, the breadth of engagements that are driving our new revenue includes Internet of Things devices, in-bar screens, RFID tags, beacons, even voice and facial recognition and much more,” he said.
“In the technology space, responsiveness to changing consumer needs and changing digital engagement is vital,” Bradley said.
“For that reason our essential value proposition has evolved quite quickly to a much broader focus where we can engage with customers constantly, through a myriad of contact points, with individualised messages based on a wide range of contextual factors. We describe this as optimising transactions in the real world for businesses with physical locations.”The name change is expected to take effect on 22 July 2016, but the date is dependent on the NZX approving the change of the company’s ticker symbol from to PLX.