After taking a financial hit attributed to the global pandemic, an Ottawa tech firm says it’s positioning its products to help retail and food services customers monitor their implementation of new health and safety protocols – as well as how these new measures affect their brand.
Intouch Insight (TSX-V:INX), which develops software to help brands solicit feedback from and better engage with their customers, says it is looking at how to ensure each of its products “is well-positioned in the COVID-19 world.
"As we start to see sectors of the economy reopen, it is clear that positive customer experience is going to be created not only by courteous and smiling employees but by the execution against new and evolving requirements regarding the health and safety of both employees and customers,” president and CEO Cameron Watt said in a statement.
The Ottawa-based firm said this week that its revenues in the first quarter – which ended March 31, several weeks after measures aimed at containing COVID-19 caused many parts of the economy to grind to a halt – were up four per cent year-over-year to $4.8 million. Despite moving quickly to cut costs, the company saw its net loss widen significantly to $201,000, compared with $21,000 a year earlier.
“We were positioned for a solid quarter before the global pandemic took the wind out of our sails,” Watt stated. “Mitigating the impacts of COVID-19 and ensuring the business is poised to rebuild rapidly will continue to be the top priorities for the foreseeable future.”
Following the release of its earnings, Intouch shares jumped to 38 cents at the start of trading but were poised to end the day Friday at 32 cents, down six per cent, on the TSX Venture Exchange.