Velpic signs MOU with Tikforce to enhance eLearning capabilities

Company Name: Velpic

Announcement Date: 12/05/2016
Announcement Category: Contract/Partnership
Announcement Content:

Velpic signs MOU with Tikforce to enhance eLearning capabilities

Highlights
 Memorandum of Understanding signed with TikForce – a human resource technology provider
that develops solutions for workforce identity verification and qualification validation
 Velpic and TikForce to investigate integration of technologies to provide employers with
workforce identity verification capabilities and automated employee profile generation
 Incorporation of TikForce technology will expand capabilities of Velpic’s eLearning platform,
providing a competitive advantage over other LMS providers
 The partnership provides significant opportunities for both companies to extend their income
transaction types

Velpic Limited (ASX: VPC) (“Velpic” or the “Company) is pleased to advise that it has signed a
Memorandum of Understanding (MOU) with TikForce Limited (ASX: TKF) to investigate the
integration of TikForce’s online technology into the Company’s cloud-based eLearning video
platform.

TikForce is a human resource technology platform that provides businesses with solutions for
workforce identity verification, compliance checks and credentials and qualification screening. With
an increasing fluid, remote and flexible workforce, TikForce’s technology establishes certainty for
employers to identify workers and their credentials and qualification while reducing compliance
costs.

Under the MOU, Velpic will look to incorporate TikForce’s authentication technology – the Tik.me
RealID platform with biometric identity verification capabilities – into the eLearning platform that will
provide Velpic’s customers with rapid validation of the identity of employees undertaking lessons.

Following completion of the lesson, Velpic’s platform will automatically feed the results into
TikForce’s qualification database. This will help to generate a more complete profile of the
employee and can be utilised to reduce on-boarding time for employers. In addition to providing
easy identity verification and bio-metric confirmation during the delivery of training TikForce can
also provide a sales channel for online assessments.

A revenue sharing arrangement is being considered and will include Velpic and TikForce each
charging a Per Transaction fee, with Velpic to charge a fee for each lesson completed and
TikForce to charge a fee for each verification.

The integration of TikForce’s technology will expand the capabilities of Velpic’s eLearning platform
to encompass an employee identity verification option, and provide a distinct competitive
advantage over other Learning Management System providers.

Velpic Chief Executive, Russell Francis, commented:
“We are very excited to be working with TikForce and incorporating their identity verification
technology into the Velpic eLearning platform. Its been a nagging criticism of the eLearning market
place that employers may not be able to verify 100% who actually completed the lesson and now
Velpic can lead the industry with this innovative solution. The combination of technologies will
make for a very compelling product for businesses with high regulatory demands on their training.
This is also just the first of many potential opportunities from a partnership with TikForce”

TikForce Chief Executive Kevin Baum commented:
“Velpic provides a leading training and assessment platform, which makes them an ideal partner
for the rollout of TikForce’s online training and assessment ID integration. With our solution,
employers will for the first time have the ability to identify exactly who is taking the online training
and assessment. We believe that this partnership provides significant opportunities for both
companies to expand their income streams. TikForce’s authentication technology will help drive
greater market acceptance for online learning and testing.”

Announcement URL: http://www.velpiclimited.com/investors/asx-announcements/2016.html
About Velpic:

Velpic - Video eLearning Platform In the Cloud

Online learning is easier than ever with Velpic, a powerful training solution for companies of all sizes and industries.

In a single tool, Velpic’s new cloud based platform allows you to create and edit your own impactful video lessons in-house, play your lessons online and finally, as an administrator, you can track, manage and schedule all your company online training and inductions.

Velpic has proven to dramatically reduce the time and costs to train and induct staff while improving comprehension and retention of the subject matter. Our online training software utilises a visual, interactive approach to learning; through smart quizzes and high quality videos, you can maximise each lesson’s impact.

Everything you need to empower your workforce, in one platform – Velpic eLearning.

Go to Company Profile for: Velpic

Announcement Contact: [email protected]