One of the company's main overarching initiatives has been to deliver on its "Pathway to Profitability". To that affect, CHS has rolled out its new strategy for improving operations and client support while streamlining its cost structure, allowing the company to accelerate its delivery and support model. This model will allow CHS to create better speed to value for its clients, higher level of satisfaction along with reducing costs. This strategy is designed to allow CHS to maintain and increase its competitive advantage in the market. The Company is pleased to report that it has achieved significant cost reduction in its operations and will continue to work towards an operational profitability status by end of year 2023.
The company will continue to implement and expand on this strategy through the end of Q4, while continuing to invest in initiatives, resources and strategies that will support its long term "Path to Profitability" goal.
"One major operational restructuring that has occurred in Q3 has been the migration of all third-party vendors that support development and implementation of its software to an in-house employed model. This model allows CHS to operate in a more coordinated and seamless way, providing better service and communication with our clients. The company has already found that this is improving productivity while driving down costs through accelerated delivery and better utilization of its resources. This has not come without its challenges, the company still needs liquidity and more capital to grow, but we are pleased to say that by the end of Q4 the operational transition will be successfully completed.
The company continues to build a strong sales pipeline and believes that its value proposition continues to resonate strongly with prospective clients. CHS CEO,
CHS also remains focused on an inorganic growth strategy, focusing on growing through acquisitions within the Third-Party Administration (TPA) market. These acquisitions have the potential to add solutions, capabilities, talent, and a larger client base which will stimulate additional growth for the organization.
The Company also announces the resignation of
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Neither the
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