Business
Digerati Provides Strategic Outlook for FY2020
Digerati Provides Strategic Outlook for FY2020.
About this update from Digerati Technologies, Inc.
[{"type":"text","content":"\n SAN ANTONIO, Texas, Jan. 07, 2020 (GLOBE NEWSWIRE) -- Digerati Technologies, Inc. (OTCQB: DTGI) (\"Digerati\" or the \"Company\"), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, announced today its strategic initiatives and outlook for FY2020 ended July 31, 2020. Management continues to be focused on driving long-term sales and revenue growth, profitability, and enhancing shareholder value. The Company's plan to successfully meet its corporate goals and objectives includes: A continued focus on its core UCaaS/cloud communication business, which operates in a segment of the telecommunication industry that continues to experience significant growth as businesses migrate from legacy phone systems to cloud-based telephony systems.  Continued enhancements to its broadband product portfolio that include an emphasis on marketing leading-edge network and business continuity solutions like SD-WAN (Software Defined Wide-Area Network), and its 4g LTE mobile data solution. The Company anticipates that these data centric solutions in demand by the business market will lead to an increase in average revenue per customer (ARPU).  Continued emphasis on its recurring revenue business model and building on its solid operational and financial foundation of $6.4 million in annualized revenue to improve cash-flow profitability. Acceleration of its M&A activities targeting local and/or regional UCaaS/cloud telephony providers, which have excelled in their market with that “local” touch when serving their business customers. The Company will continue with its disciplined approach of future acquisitions and only acquire industry peers that meet key operational, technical, and financial criteria. A continued focus on the U.S. market of SMBs, which remains a high-growth market as businesses migrate from legacy phone systems to cloud-based communication solutions. A continued emphasis on Channel Management and the Company’s Agent/Channel Partner sales strategy that includes enabling Value Added Resellers (“VAR”) to offer cloud and session-based communication services to the enterprise market, primarily the SMB.  Continued enhancement of its infrastructure and back office systems to strea...