You can’t build a global company for 18 years without one eye focused on the future – or in the case of Ottawa’s March Networks, one lens. The video intelligence firm was Techopia Live’s guest this past week, and CEO Peter Strom talked about how the company is adapting its solution to a surveillance industry with a demand for data.
March Networks has developed enterprise software for surveillance systems in more than 600 banks and 300 brands of retailers around the world. Strom told Techopia Live that, while video surveillance “has been around forever,” the industry is increasingly interested in the hidden data that video can provide.
Video in a bank is not only useful for security purposes, for example. On the operational side, data analytics could inform the bank when the queue has gotten too long and it might be time to open up another teller window. March Networks’ enterprise software, dubbed Searchlight, could even match a particular transaction record to the section of the video when that withdrawal or deposit was being placed.
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This tech has especially interesting use cases in another rapidly growing industry: cannabis. Specifically, through collaborations with other partners in the space, March Networks’ software can track cannabis as it moves through the grow-op and even once it’s out the door. That level of monitoring is important to an industry where ensuring compliance is critical.
“We can track the plant basically from seed concept all the way to the point where it walks out the door from a dispensary,” Strom said.
March Networks’ cannabis solution has already been rolled out in the U.S. and it’s heading soon to Canada where recreational use is expected to be legalized later this summer. Strom said cannabis is a train the firm has “seen coming down the tunnel for a long time,” a view that the 18-year-old firm is used to taking.
With March Networks’ numerous clients, especially in the banking sector, Strom says the company has been able to sit down with these large institutions and stay on top of what their customers are expecting down the line. The opportunity to develop products as the market needs them is not something every company gets, but it’s an advantage March Networks savours.
“We’ve done a pretty good job over the years,” Strom said.
To hear more about how March Networks ensures its video software is secure for clients in the banking sector, watch the video above.