B.O.S. Better Online Solutions Ltd. (NASDAQ:BOSC) Q4 2022 Earnings Call Transcript March 29, 2023
Operator: Ladies and gentlemen, thank you for standing by. Welcome to the BOS Fourth Quarter and Full Year 2022 Results Conference Call. All participants are at present in listen-only mode. Following management's formal presentation, instructions will be given for the question-and-answer session. . As a reminder, this conference call is being recorded and will be available on the BOS website as of tomorrow. With us on the line today are Mr. Ziv Dekel, Chairman, Mr. Eyal Cohen, CEO, and Mr. Moshe Zeltzer, CFO. Before I turn the call over to Mr. Cohen, I would like to remind everyone that forward-looking statements for the respected company's business, financial condition, and results of its operations are subject to risks and uncertainties which could cause actual results to differ materially from those contemplated.
Such forward-looking statements include but are not limited to product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, and the effect of the company's accounting policies, as well as certain other risk factors which are detailed from time to time in the company's filings with various securities authorities. I would now like to turn the call over to Mr. Eyal Cohen, CEO. Eyal, please go ahead.
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Eyal Cohen: Hello. Thank you for joining our call today. I would like to take this opportunity to give a brief on BOS's offering competitive advantage and the growth strategy. BOS provides enterprises with advanced technology that increases inventory efficiency to each three business. The robotic division automate industrial and logistic processes of inventory. The RFID division mark and track the inventory and the supply chain manages the inventory. Our competitive advantages are client trust, quality service, comprehensive and relevant offerings and innovation. Those points are key demands of our clients. Our targets are first to increase the revenues per client. Second, to increase market share by joining new clients. Our strategy first to retain our clients through high quality service and update our offering with hedge technologies.
Most of our clients have been with us for decades for those reasons. Second, we expand our business offerings in our core business. By that, we increase the revenues per customer and join new clients. We implement our strategy to achieve our goals in two ways, mainly internally, by investing substantial managerial resources to identify client needs and trends and to match the relevant technologies. In the background, we keep an open eye for M&A's opportunities of companies that meet three criteria, first expand our offering in our core business. Second, profitable third has a robust business system. Let's complete my review. And now I would like to take your questions please.