Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc said it has released its new Venue Management System for conferences and events that will help organizers provide “a better, mobile-first contactless customer experience,” reduce costs and get better analytics on how attendees are interacting with the event.
The Vancouver, British Columbia-based company said the packaged solution consists of Fobi’s Passcreator Wallet passes and proprietary Smart Tap Devices and the new Smart Scan Pass Validation App for event check-in and management, as well as Fobi’s Insight Portal for event analytics.
Fobi’s new platform is being launched at the three-day Society for Independent Show Operators (SISO) summer conference, starting on August 24, 2021, in Louisville, Kentucky.
READ: Fobi AI completes acquisition of wallet pass software firm Passcreator and launches new Smart Scan application
Fobi SVP of Business Development Mike Canevaro will be at the event and will meet key decision-makers for some of the largest conference management companies in the world, said the company.
In a statement, Canevaro said: “We are very excited to launch our new product and service live at this year’s event. Our latest product will help transform the Event and Conference sector and provide much-needed support to an industry that has faced many economic challenges over the last 19 months due to the forced lockdown.”
“The Conference and Events industry is in desperate need of turn-key solutions that provide a safe and contactless digital experience for their guests. I believe we will benefit from immediate adoption as we help create much-needed new line revenues opportunities for event operators through new digital sponsorships and we will enable show organizers the ability to monetize their event data via their show exhibitors, attendees and third parties.”
With conference halls slowly reopening, Fobi’s product launch is well-positioned to tap the Event Management Software Industry, which is currently pegged as one of the fastest-growing technology segments. It is expected to hit $14.6 billion by 2025, with a 11.56% compound annual growth rate (CAGR), according to MRFR.
The conference and trade show industry has a very traditional business model with many antiquated and legacy processes, said the company.
“When attendees arrive at conferences, they are met with long lines, staff members using clipboards and paper for check-ins, and a pile of ID badges being rummaged through by staff to find the right one,” it noted.
However, Fobi’s new platform is about to change things.
The company said: “Attendees register online and are sent a Digital Conference Pass that they download to the Mobile Wallet on their phone.” The conference pass then becomes their 'key' to the event. When attendees arrive at the venue, they simply tap their phone onto one of Fobi’s Smart Tap devices to check into the event. The attendee’s check-in information is passed automatically to the Fobi Portal backend and their Digital ID badge is sent in real-time directly to the attendee’s mobile wallet for a contactless entry experience."
The Fobi platform gives the attendee the option of checking in with their wallet pass and receiving a physical badge via a printer that is connected to the Fobi Smart Tap check-in device.
The company highlighted the merits of the new Venue Management System as follows:
- Incredibly scalable and easy-to-use as it can be up-and-running in minutes;
- Offers a better guest experience that reduces check-in times and streamlines ticketing with tickets sent to the Wallet already built into attendees’ mobile devices;
- Saves organizers money on labor costs, training, and other registration and sign-in resources;
- Conference organizers get insights into attendees through real-time analytics, such as guest demographics, and event-specific analytics such as which booths they visited, or which sessions they attended;
- Provides new line revenues through sponsorship and engagement opportunities.
“With the size and scope of the global trade show industry we see this as a very lucrative financial opportunity. Fobi will benefit from event licenses as well as generate revenue from the issuance of each pass that is issued to attendees,” said Fobi CEO Rob Anson. “Our professional and managed event services will play a significant element in the rollout for these large-scale events.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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