RAD Comments on the 16 Month Sales Process to Large Opportunity End-Users
Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD) has received an order for one ROSA security robot. The sales order has been identified by RAD as being an example of the complexities and extensive undertaking involved in selling advanced technological solutions to B2B clients.
“This particular sales order was facilitated through both CBRE and Grainger for a prominent Fortune 500 client,” said Mark Folmer, President at RAD. “While a sales order for a single ROSA unit may appear to be insignificant from a revenue perspective, this is a key data point for us as we begin to see further adoption of the RAD platform by Fortune 500 companies.”
The order for this ROSA unit was recommended by CBRE, the facility management company for the end-user, with Grainger handling order processing and fulfillment responsibilities.
In June of 2021 RAD was invited by Grainger to submit ROSA and RAD Light My Way as entries to CBRE’s annual ‘Innovation Challenge’. On October 26, 2021 it was announced that ROSA and RAD Light My Way had been honored as winners of this prestigious award.
“RAD’s primary focus from a sales perspective has always been large enterprises whose bottom line would see the most benefit from RAD’s cost reductions regarding onsite security. Our data suggests that during times of economic uncertainty large corporations such as these are more open towards adopting new technology as cost saving measures,” said Steve Reinharz, CEO of AITX and RAD. “Receiving this order as a direct result of CBRE’s Innovation Challenge solidifies our position as a trusted platform in this rapidly growing industry.”
According to a report by Gartner, the typical buying group for a complex B2B solution involves six to ten decision makers‚ each armed with four or five pieces of information they’ve gathered independently and must deconflict with the group. “There were certainly hundreds of opportunities in this sales process for any one decision maker to say ‘no’ or ‘not now’”, added Reinharz. “The RAD sales team just grinds through the objections and keeps their eyes on winning.”
“Winning the CBRE Innovation Challenge introduced RAD’s platform and solutions to dozens of decision makers within CBRE and Grainger,” added Folmer. “Having these individuals introduce our solutions to several of their respective clients and associates has been a boon for us. Our sales funnel started to fill with a substantial number of solid opportunities from companies in our target markets.”
“We tend to talk about our ‘research’ often, but as a technology company it’s imperative that we review every datapoint available to us. Our sales and marketing team has found that the sales cycle for RAD is beginning to tighten as more enterprise clients begin the search for cost saving measures in their organizations. We’ve seen some big clients eager to move away from their reliance on human resources and towards automation processes wherever possible,” Reinharz concluded.
RAD has a sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time.
RAD’s parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all design elements, performance, quality, and the user’s experience of all security robots whether SCOT™, ROSA™, Wally™, Wally HSO™, AVA™, ROAMEO™, CASSIE™, RIO™, or RAD Light My Way™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto, and request a copy of the recently published ‘Navigating the New Economy: Jobs & Automation, Challenges & Opportunities’.