Imageware Systems Inc's Suppliers recorded an increase in sales by 53.68 % year on year in Q4 2022, sequentially sales grew by 5.9 %, Imageware Systems Inc recorded an increase in cost of sales by 255.56 % year on year, relative to one quarter ago cost of sales fell by -70.64 % in Q4.
Imageware Systems Inc's Suppliers recorded an increase in sales by 53.68 % year on year in Q4 2022, sequentially sales grew by 5.9 %, Imageware Systems Inc recorded increase in cost of sales by 255.56 % year on year, compare to one quarter ago cost of sales fell by -70.64 % in Q4.
Our direct sales organization is supported by technical experts. Our technical
experts are available by telephone and conduct on-site customer presentations
in support of our sales professionals.
The typical sales cycle for IWS Biometric Engine and IWS Law Enforcement includes
a pre-sale process to define the potential customer’s needs and budget,
an on-site demonstration and conversations between the potential customer and
existing customers. Government agencies are typically required to purchase large
systems by including a list of requirements in a Request for Proposal, known as
an “RFP,” and by allowing several companies to openly bid for the
project by responding to the RFP. If our response is selected, we enter into negotiations
for the contract and, if successful, ultimately receive a purchase order from
the customer. This process can take anywhere from a few months to over a year.
Our Biometric and ID products are also sold to large integrators, direct via our
sales force and to end users through distributors. Depending on the customer’s
requirements, there may be instances that require an RFP. The sales cycle can
vary from a few weeks to a year.
In addition to our direct sales force, we have developed relationships with a
number of systems integrators who contract with government agencies for the installation
and integration of large computer and communication systems. By acting as a subcontractor
to these systems integrators, we are able to avoid the time consuming and often-expensive
task of submitting proposals to government agencies, and we also gain access to
large clients.
We also work with companies that offer complementary products, where value is
created through product integration. Through teaming arrangements, we are able
to enhance our products and to expand our customer base through the relationships
and contracts of our strategic partners.
We plan to continue to market and sell our products internationally. Some of the
challenges and risks associated with international sales include the difficulty
in protecting our intellectual property rights, difficulty in enforcing agreements
through foreign legal systems and volatility and unpredictability in the political
and economic conditions of foreign countries. We believe we can work to successfully
overcome these challenges.
Imageware Systems Inc's Comment on Supply Chain
Our direct sales organization is supported by technical experts. Our technical
experts are available by telephone and conduct on-site customer presentations
in support of our sales professionals.
The typical sales cycle for IWS Biometric Engine and IWS Law Enforcement includes
a pre-sale process to define the potential customer’s needs and budget,
an on-site demonstration and conversations between the potential customer and
existing customers. Government agencies are typically required to purchase large
systems by including a list of requirements in a Request for Proposal, known as
an “RFP,” and by allowing several companies to openly bid for the
project by responding to the RFP. If our response is selected, we enter into negotiations
for the contract and, if successful, ultimately receive a purchase order from
the customer. This process can take anywhere from a few months to over a year.
Our Biometric and ID products are also sold to large integrators, direct via our
sales force and to end users through distributors. Depending on the customer’s
requirements, there may be instances that require an RFP. The sales cycle can
vary from a few weeks to a year.
In addition to our direct sales force, we have developed relationships with a
number of systems integrators who contract with government agencies for the installation
and integration of large computer and communication systems. By acting as a subcontractor
to these systems integrators, we are able to avoid the time consuming and often-expensive
task of submitting proposals to government agencies, and we also gain access to
large clients.
We also work with companies that offer complementary products, where value is
created through product integration. Through teaming arrangements, we are able
to enhance our products and to expand our customer base through the relationships
and contracts of our strategic partners.
We plan to continue to market and sell our products internationally. Some of the
challenges and risks associated with international sales include the difficulty
in protecting our intellectual property rights, difficulty in enforcing agreements
through foreign legal systems and volatility and unpredictability in the political
and economic conditions of foreign countries. We believe we can work to successfully
overcome these challenges.
IWSY's Suppliers recorded a net loss
Suppliers recorded net loss
IWSY's Suppliers recorded a net loss
Suppliers recorded net loss
Imageware Systems Inc's Suppliers Sales Growth
in Q4 2022 by Industry
Sources:
Imageware Systems Inc's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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53.68 %