All posts by BroadVision

BroadVision Announces Third Quarter 2017 Results

REDWOOD CITY, Calif., Nov. 08, 2017 (GLOBE NEWSWIRE) — BroadVision, Inc. (NASDAQ:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its third quarter ended September 30, 2017. Revenues for the third quarter were $1.5 million, compared with revenues of $1.6 million for the second quarter ended June 30, 2017 and $2.0 million for the comparable quarter of 2016.

License revenue for the third quarter of 2017 was $0.8 million, compared with revenues of $0.9 million for the second quarter ended June 30, 2017 and $1.1 million for the comparable quarter of 2016. The majority of the third quarter license revenue was generated from the Company’s BroadVision® Business Agility Suite™, Commerce Agility Suite™, QuickSilver™, and Clearvale® solutions. Revenue during the quarter was generated from sales to both new and existing customers.

In the third quarter of 2017, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis of $2.5 million, or $0.50 per basic and diluted share, as compared with GAAP net loss of $2.4 million, or $0.48 per basic and diluted share, for the second quarter of 2017 and GAAP net loss of $2.4 million, or $0.50 per basic and diluted share, for the comparable quarter of 2016.

As of September 30, 2017, the Company had $12.3 million of cash and cash equivalents and short-term investments, compared to a combined balance of $15.6 million as of June 30, 2017 and $21.8 million as of September 30, 2016.

“More and more organizations are recognizing that in the digital age, their data and their collective knowledge are two of their prime assets”, said Dr Pehong Chen, President and CEO of BroadVision. “Yet many organizations do not have these assets under control. Far too often, knowledge is lost in departmental silos or inappropriate consumer-focused apps ill-suited for business use. As a hub for digital enterprise transformation, Vmoso connects all these different sources of knowledge so employees can get the information they need, when they need it”.

About BroadVision
Driving innovation since 1993, BroadVision (NASDAQ:BVSN) provides e-business solutions that enable the enterprise and its employees, partners, and customers to stay actively engaged, socially connected, and universally organized to achieve greater business results.  BroadVision® solutions—including Vmoso for virtual, mobile, and social business collaboration, and Clearvale for enterprise social networking—are available globally in the cloud via the Web and mobile applications. Visit www.BroadVision.com for more details.

BroadVision, Business Agility Suite, Commerce Agility Suite, QuickSilver, and Clearvale are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries. All other company names, product names, and marks are the property of their respective owners.

Information Concerning Forward-Looking Statements
Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future, including statements regarding BroadVision’s ability to enhance customers’ businesses, market acceptance of Vmoso and the ability of Vmoso to transform business operations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties include without limitation uncertainty regarding market acceptance of BroadVision’s products and services, BroadVision’s ability to sell Vmoso to its existing customers and new customers, BroadVision’s ability to provide reliable, scalable and cost-efficient Cloud-based offerings, BroadVision’s ability to effectively compete in its intensely competitive market and respond effectively to rapidly changing technology, evolving industry standards and changing customer needs, requirements or preferences, and the other risks set forth in BroadVision’s most recent quarterly report on Form 10-Q, and subsequent reports filed with the Securities and Exchange Commission. All forward-looking statements included in this release are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements except as required by law. These statements are not guarantees of future performance and actual results could differ materially from BroadVision’s current expectations.

BroadVision Announces Third Quarter 2017 Results

Galaxy Sports

Galaxy Sports are planning the launch of a new range of “smart” running shoes that take advantage of emerging technologies such as Internet of Things sensors and artificial intelligence. At the centre of this, Galaxy has chosen Vmoso to organise communication and knowledge sharing between Galaxy and its suppliers, within Galaxy, and between Galaxy and its customers.

View Transcript
Galaxy Sports is a manufacturer of sportswear, with running shoes representing its largest market. Galaxy’s product management team are planning the launch of a new range of “smart” running shoes that take advantage of emerging technologies such as Internet of Things sensors and artificial intelligence.

At the centre of this, Galaxy has chosen Vmoso to organise communication and knowledge sharing between Galaxy and its suppliers, within Galaxy, and between Galaxy and its customers.

A selected group of Galaxy customers have been selected to test a prototype of the new running shoe. To support the trial, a community for the early adopters has been created on Vmoso.

Here, Galaxy product managers can interact with the trial participants, analyse data received from the shoes’ sensors, and discuss appropriate actions.

Galaxy have also engaged a professional physiotherapist, Marion, to participate in the trial and engage with the early adopters.

Marion is also involved in the other initiative linked to the new product launch, Galaxy’s “Smart Physio”. This is an artificial intelligence powered agent which delivers personalized recommendations to each member of the trial via private Vmoso channels, based on the data collected from the sensors in their shoes, and aggregated data from the wider trial community. Marion uses her domain expertise to help train the Smart Physio’s recommendations.

Vmoso also hosts all the communication and collaboration between Galaxy and Sportex, the main supplier of the shoes’ materials. This includes both freeform, unstructured communication for general discussion, and more structured business processes for tracking and accountability of formal change requests.

Todd is a loyal Galaxy customer, so was invited to become a member of the early adopter community. He’s been using the prototype shoes for his daily run every day this week, and his feet are suffering from blisters in a way they never did with his previous Galaxy shoes.
He reports this problem to the community, and finds that he’s not the only one suffering in this way.

Nancy in the Galaxy product management team is obviously concerned by these reports. But thanks to the tracking devices in the shoes, she’s able to get a much clearer picture of what’s going on.
She has been receiving daily reports in Vmoso of aggregated data from the trial users, but she can now dig into the detailed data for the runners who’ve reported the problem.

It quickly becomes apparent that the sensors are reporting a higher than expected temperature inside the shoe for all the runners suffering from blisters.

Sportex have actually provided two different versions of the shoe made with different textiles, and Nancy sees that all the shoes exhibiting higher temperatures are using textile variant A.

Nancy gets in contact with her Sportex contact, Howard, about this. Howard suggests that Nancy makes a formal request to stop manufacturing the variant A shoes, and switch to variant B.

Nancy initiates a change request process in Vmoso to do this. Before reaching Sportex, this needs to be approved by Nancy’s manager, Amber.

But before Amber agrees to this, she asks Nancy to find out more about how the runners using variant B are getting on.

The data looks good, but Nancy wants to get feedback from the runners themselves.

The replies she gets are surprising – several of the runners report that their shoes are already showing significant signs of wear. It looks like variant B doesn’t suffer from the overheating problem, but is a lot less resilient than variant A.

Nancy recommends to Amber that she declines the previous request. Instead, she initiates a new process to request Sportex work to address the overheating problem in variant A.

A couple of weeks later, Sportex and Galaxy have an updated prototype for the runners to try. Todd has been using the new shoe for a couple of days and has suffered no recurrence of the blisters.
Nancy is keeping a close watch on the sensor data and sees that the overheating problem does appear to have been resolved.

The more Todd uses the shoes, the more data is collected from the sensors, and Galaxy’s Smart Physio is able to start making recommendations.

Marion has been training the Smart Physio to recognise patterns relating to running style. She notes that some of the group of early adopters have a running style where the heel of the leading foot hits the ground first, combined with a wide stride pattern. This can lead to shin splits and heel damage, so Marion trains the Smart Physio to recognise this, and the recommended corrective action.

Automated analysis of the daily data from Todd’s shoes shows that he’s guilty of this style of running, even though he’s never associated it with some of the pain he feels after running. The Smart Physio makes recommendations, and shows Todd a video of how to correct the running style.

That makes sense to Todd, but he worries that when he’s out running, it would be really easy for him to slip back into old habits. So he asks the Smart Physio to warn him if he’s doing it. As Todd runs, the Smart Physio makes an audible notification when he slips back into his old running style.

As the end of the run, Todd asks how he did – the Smart Physio is able to show how Todd started well, but as he tired, the old pattern came back. It suggests that Todd considers shorter runs until he’s adapted his running style, and offers to recommend a personalised training pattern for Todd over the next week.

With Vmoso at the centre of Galaxy’s communication and collaboration, the launch of the new range of shoes is a huge success.

Bringing together product managers, suppliers, customers, data from smart sensors and artificial intelligence-powered agents around one digital transformation hub means that product development issues are reported, analyzed and acted upon rapidly, increasing product quality and reducing the time to market.

Engaging with customers both person-to-person and via AI creates a compelling customer experience, leading to greater brand loyalty and repeat sales.

Vmoso and GDPR

With the introduction of GDPR just months away, it’s important that the systems you use for communication receive the same level of data protection scrutiny as your systems of record. Vmoso brings together internal and external communication, integrated to your systems of record, helping you meet your data protection obligations.

View Transcript

The General Data Protection Regulation or GDPR is a new set of data protection laws set to be introduced on 25th May 2018. It applies to all organisations in the European Union, and all organisations outside the EU that offer goods or services to individuals in the EU.

It aims to standardize data protection rules across the EU, and for most countries goes significantly beyond the previous national laws in place to establish a wider set of rights for individuals about the information organisations hold about them.

 

GDPR provides individuals with:

  • The right to be informed about the information organisations hold about them, and how it is used
  • The right of access to that information
  • The right to rectification of any incorrect data held
  • The right to erasure of the data
  • The right to restrict processing, limiting how data an organisation holds may be used
  • The right to data portability, allowing individuals to transfer their data from one service to another
  • The right to object to how their data is used, and
  • Rights in relation to automated decision making and profiling

 

As most organisations already comply with their data protection obligations, the processes and systems they have in place form a solid basis for ensuring GDPR compliance.

However, in recent years, changes in the way business communication takes place have often worked against organisations’ good intentions around data protection. While their systems of record are typically well-structured and enable organisations to comply with their data protection obligations, their internal and external communication systems are a different matter entirely.

 

GDPR describes how personal data and sensitive personal data is handled. When this remains in an organisation’s systems of record – their customer databases, CRM systems, finance systems , etc, it’s relatively easy to comply with GDPR’s provisions to protect the individual’s rights. The problems start when this personal data is held in, or copied to communication systems that are much less tightly regulated.

 

This problem has been exacerbated by a move away from email into wide range of new communication tools, often brought into the organisation by employees without IT approval. This trend towards “shadow IT” or “bring your own app” puts company data at risk, and makes it almost impossible for organisations to meet their data protection obligations. How can an organisation possible find, rectify or erase an individual’s data if it is scattered across a mish-mash of employee-chosen communication apps?

 

If this scenario sounds unlikely to you, think again. In the UK, one of the largest ever fines imposed by the Information Commissioner’s Office related to the breach of a customer database that had not been approved by the organisation’s IT department.  And it is widely acknowledged that NHS staff are regularly using WhatsApp to exchange patient data, often crossing the boundary of what constitutes “personal data”. Shadow IT is alive and well in most organisations, whether they know about it or not.

 

So all the good data protection work on your core enterprise systems could be undone if you fail to consider how personal data is included in your day to day business communication. One of the major changes GDPR brings is significantly increased fines for non-compliance. For example, Pharmacy2U’s fine of 130,000 in 2015 could have been 4.4m under GDPR. Talktalk’s 2016 fine of 400,000 could have been 59m under GDPR. In the new world of GDPR, no company can afford to ignore the risks of shadow IT.

 

Vmoso from BroadVision helps your meet your data protection obligations by consolidating your business communication in one place, removing the need for shadow IT communication solutions. Instead of messages being scattered across individual users’ email inboxes, or locked into unapproved communication apps like WhatsApp or Line, Vmoso stores all messages in a secure, cloud-based environment, making data discovery, rectification, and erasure straightforward.

 

Let’s look at an example.

 

Galaxy Telecom provides phone and broadband services to residential customers.

 

As Galaxy customer, Sarah is provided with a dedicated Vmoso customer service channel for all her communication.

She has reported a problem to Galaxy customer service, saying she’s unable to access certain websites and is being redirected to other sites.

 

Lloyd in the customer service team asks for details of which sites Sarah’s trying to access and where she’s ending up instead. During this discussion, Sarah confirms the IP address she’s currently using – this is something that GDPR classes as “personal data”.

 

As part of this discussion, Lloyd explicitly asks for Sarah’s consent to use the information provided to resolve the issue. A key requirement of GDPR is being able to demonstrate consent to use personal data, and receiving this consent in Vmoso provides a permanent record.

 

It’s now several months later. Galaxy have recently suffered a security breach of some customer data. They have, as GDPR requires, reported this to the relevant supervisory authority.

 

At the end of her contract, Sarah chose to switch suppliers so is no longer a Galaxy customer. But she hears about the breach in the news and is concerned that Galaxy may still hold some of her personal data. He asks Galaxy to provide her with all the information they still hold about her , and to delete it all.

 

Because all Sarah’s interactions with Galaxy have been through a persistent Vmoso customer service channel, this is trivially easy for Galaxy to do. Galaxy are able to provide Sarah with both the records from their core customer database, and a transcript of all the discussions they had with Sarah on Vmoso.

 

Galaxy’s use of Vmoso enables them to meet their GDPR obligations by providing Sarah with a rapid and comprehensive response.

 

But the impact of GDPR on communication systems isn’t just limited to customer service. It applies equally to any organisation inside or outside the EU that holds personal data about EU citizens, including cases such as:

  • HR departments retaining candidate information for recruitment
  • Charities maintaining lists of donors and volunteers
  • National and local government departments communicating with citizens.

 

With the introduction of GDPR just months away, it’s important that the systems you use for communication receive the same level of data protection scrutiny as your systems of record. Vmoso brings together internal and external communication, integrated to your systems of record, helping you meet your data protection obligations.

 

For more information about how Vmoso can help your organisation, contact us at sales@broadvision.com or broadvision.com/contact

 

Vmoso Data Sheet


Vmoso is a cloud-based mobile-centric platform for empowering digital transformation. A platform that brings together knowledge management, enterprise communication, workplace collaboration and business engagement. Unifying short and long form communication, content sharing, workflow and social networking in one tool with the added benefit of enterprise-level security features, Vmoso is used across all areas of business to save time and simplify getting work done.

Instead of fragmenting your business communication across incompatible consumer apps that were never intended for business use, consolidating it all in Vmoso removes the risk of losing valuable corporate knowledge.

Vmoso leverages 20+ years of software development expertise focused on creating tools for real people that make work life easier, more efficient and more productive.

Download Datasheet

Vmoso Enterprise Transformation Methodology

As organizations embark on programmes of digital transformation, managing collective knowledge is becoming more important than ever. Knowledge is increasingly lost in employees’ email inboxes, or fragmented across a chaotic assortment of new communication tools brought in to address email’s failings.

At BroadVision, we understand that getting your corporate knowledge under control is more that just a technology implementation programme. The Vmoso Enterprise Transformation (VET) methodology is a 10-step iterative process that refines working practices and establishes Vmoso at the heart of your enterprise communication and collaboration.

Download Datasheet