VesselVanguard and Formula Boats Sign Five-Year Subscription and Partnership Agreement

June 5, 2014

Annapolis, Md. – VesselVanguard, the leading marine maintenance management solution, announced today a new partnership with premier powerboat manufacturer, Formula Boats. Beginning on July 1, 2014, every Formula model from 24 to 45 feet will be fully provisioned with an unprecedented five-year VesselVanguard subscription.

"There is no such thing as business-as-usual these days,” said Mike Boyd, director of product support/consumer affairs, Formula Boats. “VesselVanguard is a 21st century information service that keeps us closer to our customers than ever before possible with no additional effort on our part. It is precisely what consumers need and expect, and offers an equally positive and powerful impact for our dealers and service centers, both before and after the sale."

Dedicated to simplifying the boat ownership experience and facilitating the post-sale relationship for builders and customers alike, VesselVanguard removes the complexity of owning and maintaining a vessel. The solution meets the information needs of today’s busy lifestyle giving Formula owners a secure and comprehensive boat profile accessible from the cloud, anywhere at any time, by browser, tablet or smartphone. The profile contains all manuals in searchable form with current updates, warranty data, registration and insurance documentation, organized to the preferences of the owner. The result is an exceptional boating experience, long-term satisfaction and increased resale value.

“Boat owners today are explicitly different than previous generations and so are their expectations,” said Don Hyde, CEO, VesselVanguard. “Mobility and one click simplicity form just the tip of customer needs, but boat manufacturers like Formula, who exhibit this understanding, are bringing new boaters to the lifestyle and reaping the rewards of increased market share, new operational efficiencies, and greater revenue and profit margins. The industry must adapt to its new customer profile and by setting aside the status quo, and Formula’s decision establishes a true leadership role making them an even stronger competitor.”

Since 2001, Formula Boats has included a five-year Formula Guard extended warranty with every boat offering peace of mind and a first class customer experience. Providing simplified functionality that does not require a software tutorial, VesselVanguard’s digital manuals and automated lifecycle management tools enhance the Formula guarantee by communicating maintenance needs to both owners and their trusted service professionals.

“It was also important to us that VesselVanguard places such a high premium on simplicity of design so there is little to no learning curve,” added Boyd. “Neither our customers, nor our dealers or service centers need to acquire software or devote hours to tutorials. There is no substitute for knowledge when it comes to vessel upkeep, and now our customers and dealers will know in advance what those maintenance events are and when they will occur.”

Leading Power Boat Manufacturer Will Provide 5-Year Subscription to Cloud-based Vessel Management Solution with Every New Boat

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