Artificial Intelligence driven Marketing Communications
PHOENIX, Arizona, — VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX Venture Exchange: VQS and OTC Markets: VQSLF) a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announced a significant five-year contract with the Western Australia Police Force (WA Police Force).
Covering Western Australia’s 2.5 million square kilometers, with over 150 police stations across eight metropolitan and seven regional districts, the WA Police Force claims to be responsible for policing the world’s largest, single police jurisdiction. Source: www.police.wa.gov.au/About-Us. The contract began on July 1.
The WA Police Force generates more than 4,563 transcript requests yearly. The contract value is determined by how many transcripts will be generated over five years. As a result of the contract, Spark & Cannon, a VIQ Solutions company, is now the largest provider of law enforcement transcription services in Australia. The company will provide the WA Police Force with a secure VIQ ordering portal for online transcript requests and will receive their completed transcripts electronically using NetScribe’s™ distribution methodology.
“We are excited to partner with Spark & Cannon and VIQ Solutions to deliver ongoing transcription services to the Western Australia Police Force. We were impressed with their extensive experience, dedication to quality and their commitment to timely, accurate transcripts within the Australian Law Enforcement market,” said Commander Sue Young, Judicial Services, Western Australia Police Force.
Along with the WA Police Force contract, VIQ continues to increase market share in the US law enforcement industry through Net Transcripts, a VIQ Solutions company after adding 13 new clients and 3 contract renewals in June. These additions follow 83 new and recurring contracts announced in May 2019, which is a strong indicator of client satisfaction and continued retention success.
The demand for security and data management over transcription of audio and visual assets within highly regulated industries including law enforcement, insurance and the courts is paramount. VIQ’s rapid growth within these industries, and as the global leader in law enforcement transcription, is directly attributed to its processes and commitment to the security of clients’ data and assets. VIQ is also Criminal Justice Information Services (CJIS) compliant.
“Our deal with the world’s largest, single jurisdiction police force is a realization of a strategy that culminates in the power of our industry-leading technology and on-time delivery by our amazing team,” said Susan Sumner, COO at VIQ. “We were chosen because of our law enforcement industry experience, commitment to quality and superior approach to cybersecurity.”
The exploding growth of evidentiary data within VIQ’s global markets will continue unabated in coming years, accelerating the urgent need for fast, efficient and secure capture and transcription. VIQ’s plans for expansive growth from current customers and new contracts as its addressable market is set to reach more than USD$10B in 2021. Source: IBIS World, The Insurance Information Institute and management estimates
About VIQ Solutions Inc.
VIQ Solutions is a global expert in video capture software and audio recording with voice-to-text capabilities. VIQ provides a cyber-secure AI technology and service platform to law enforcement, immigration, medical, legal, insurance, courts, and transcription service providers, enabling them to unlock the value of their enterprise digital media and streamline their document-creation workflow, using artificial intelligence tools for measurable business gains.
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, management’s targets for the Company’s growth in 2018, as well as the size, scope, and timing of the implementation of projects currently in the pilot phase.
Forward-looking statements or information is based on several factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this news release, assumptions have been made regarding, among other things, the Company’s recent initiatives, and that sales and prospects may provide incremental value for shareholders. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that have been use
Forward-looking statements or information is based on current expectations, estimates and projections that involve several risks and uncertainties which could cause actual results to differ materially from those anticipated by VIQ and described in the forward-looking statements or information. These risks and uncertainties may cause actual results to differ materially from the forward-looking statements or information. Readers are cautioned that the foregoing list is not exhaustive of all possible risks and uncertainties.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.