Today shortly after the opening bell, Consorteum Holdings, Inc. announced that it will now shift its focus on leveraging the previously announced new relationships to provide better value added services to its clients. These new projects and technology relationships will drive new opportunities and revenues for the company.
With the recent launch of Blue Sea Manning’s new payroll and multi-currency program, Consorteum is now able to offer the cruise ship and private yacht industry a highly cost-effective solution for international payroll and currency settlement. This multi-billion dollar industry is in desperate need to reduce the substantial administrative costs of payment to crews and suppliers globally in any currency. According to the press release, Consorteum is strategically targeting several of the large cruise ship and private yacht owners with this new service.
Earlier this year, the company increased its ownership position in My Golf Rewards. Courses that were part of the pilot program saw a significant increase in revenues, validating the initiative’s ability to increase the business of industry as well as the revenues of Consorteum Holdings Inc. It is anticipated that there will be significant growth of the program as golf course owners look for new and better ways to increase their customer spending by establishing incentives and rewards that will drive increased rounds of golf. The My Golf Rewards sales team is actively pursuing new courses for the program, both in North America and Internationally.
Consorteum Holdings Inc. commented on the contractual relationship with NxSystems, which was solidified through 2009/2010. Working with the company, Consorteum Holdings Inc. will bring new opportunities to market in 2010. Through this new arrangement the company has already started working on four large additional projects leveraging NxSystems’ technology. The details of these new projects are expected to be announced in the immediate future.
First Nations Financial Services and Consorteum Holdings Inc. plan to launch a benefits and payroll card program to its first client in the next 30-60 days. The program will enable members of the band to receive their benefit or payroll funds directly onto a secured, prepaid MasterCard, reducing the need to be issued a manual check. This initial location and subsequent locations will be released over the coming months, along with progress reports.
The company also gave an update on the recent establishment of a Board of Advisors, which will be made up of senior industry and business experts. The first member of the advisory board is retired Chairman and CEO of McDonald’s Japan and Canada. Mr. Donahue brings a proven history of results and a wealth of business experience to assist the management of Consorteum. Additional board members will be announced over the coming months.
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