Virtutone Provides Private IP Voice and Fax Network for Cash Store
Saskatchewan-based Internet voice and data solutions provider Virtutone Networks will provide a private network interconnecting the head office and over 500 retail branches of The Cash Store in three countries with voice over IP ("VOIP") and fax over IP ("FOIP") services.
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The private network will eliminate all intercompany long distance charges and allows four-digit dialing between branches and head office. Virtutone’s proprietary FOIP solution solves the traditional problems associated with routing traffic from fax machines over an Internet connection.
Virtutone will initially provide a fully managed, private network supporting VOIP and FOIP lines in three continents to Cash Store head office, current and future branch locations. There is a minimum commitment to Virtutone over the term of the contract for the Voice and Fax line services to the 469 existing locations in Canada and 40 existing locations in Australia.
Cash Store has agreed to install Virtutone VOIP and FOIP lines in all new branches over the next the 3 years. Based on those growth projections this will add approximately 400 plus branch locations to the contract, bringing the total number to almost 900 branches world wide.
“Cash Store is a rapidly growing company and Virtutone is pleased to have been chosen to provide a fully managed VOIP and FOIP network to meet the communication needs of The Cash Store Financial Services Inc.; we potentially have been able to save Cash Store over 50% of their telephony costs by using our technology”, said Jason Allen, Virtutone’s President and CEO.
“It is great to be partnering with an Alberta based company. Virtutone provides not only a cost effective solution for our voice needs, they also have a very good fax solution which layers well over our existing IT infrastructure. Virtutone’s VOIP and FOIP technology solutions will offer Cash Store an estimated savings of approximately $1 million dollars per year,” added Gordon J. Reykdal, Chairman and CEO, Cash Store Financial Services Inc.
Virtutone Networks is a publicly owned technology company based in Fort Saskatchewan and is listed on the TSX Venture Exchange. The Company is a leading supplier of FOIP and VOIP solutions. The Company’s products work over terrestrial, wireless, and satellite connections.
The Cash Store Financial Services Inc. is a broker of short-term advances and other financial services in Canada. Cash Store Financial operates 469 branches across Canada under the banners: The Cash Store and Instaloans.