Ackroo expects banner 2015

2015 is shaping up to be the break-even year for Ottawa-based Ackroo, according to the financial outlook and strategic plan the company announced Friday.

"We believe the key learnings from the past two years coupled with the evolution of our product, operations and customers, has set us up for a great 2015," CEO Steve Levely said in a statement.

The loyalty and rewards technology and services provider said a private placement will be announced soon that will allow the company to boost revenue by 50 per cent over the next three years.

That would mean revenue between $5 million and $10 million by 2017.

"After spending the greater part of 2014 focused on reducing our operational costs, stabilizing our customer base, solidifying our strategic partnerships and updating our product and solution offerings, we now look forward to growing our business by executing our strategic plan," Mr. Levely said.

That plan includes a complete corporate restructuring and operations streamlining to continue lowering operational costs in 2015.

Ackroo (TSX-V: AKR) said it plans to increase recurring revenue by offering enhanced products and services to its clients.

It also wants to increase the number of customer locations by 75 per cent per year and create more investor interest and awareness of the company through an investor relations campaign.

Mergers and acquisitions are also on the company’s radar as it said it wants to complete at least one with a competing firm in the coming year.

“We believe that these goals and objectives provide the ideal base for Ackroo to grow in 2015," Mr. Levely said.