ActiveOps PLC Contract wins and expansions at largest customers (2884N)
September 29 2021 - 2:00AM
UK Regulatory
TIDMAOM
RNS Number : 2884N
ActiveOps PLC
29 September 2021
29 September 2021
ActiveOps Plc
("the Company" or "the Group")
Contract wins and expansions at ActiveOps' largest customers
Continued progress against Land and Expand strategy,
underpinning growth plans
ActiveOps plc (AIM: AOM), a leading provider of Management
Process Automation (MPA) software for running complex and global
back-offices, is pleased to announce continued growth in its
blue-chip customer base in the first half of the current financial
year, securing new logos and contract expansions across all target
regions and sectors. The contracts include the Group's first
enterprise level up-sale of WorkiQ into an existing ControliQ
customer and several contract extensions, underpinning the Group's
growth plans.
The Group intends to announce an update on trading for the six
months ending 30 September 2021 on 20 October 2021.
First enterprise level up-sale of WorkiQ
A leading North American banking customer and existing ControliQ
user has signed an enterprise scale licence for the Group's WorkiQ
product, representing the first of ActiveOps' top 10 customers to
take a WorkiQ licence at scale, demonstrating the upsell potential
for the newer WorkiQ offering.
WorkiQ captures workforce analytics from desktop activity for
employee engagement, whether they are in the office, remote or
hybrid, enabling business to better manage their workforce during
the ongoing disruptions caused by the pandemic and continuing
change to working practices. Recent data from across other customer
implementations of WorkiQ, alongside established ControliQ
deployments, has shown an incremental increase of 12% in
productivity levels, on top of that achieved with ControliQ, which
with labour a key cost driver for a tier 1 bank, provides a
compelling use case for the offering.
New logo wins and continued customer expansions
New logo wins in the first half of the current financial year
have been strong, including a large insurer and a healthcare payer
in the US and in the UK a major BPO, an investment management firm
and a global consulting and services group.
Many of the Group's largest customers have expanded their use of
ControliQ in the period, including three of the UK's leading high
street banks. One of the Group's Australian banking customers has
transitioned from an annual licence to a multi-year contract for
ControliQ, increasing the revenue visibility from the customer and
pointing to the central role of the software within the bank's
back-office operations.
ActiveOps CEO Richard Jeffery commented:
"With many organisations beginning the transition to new working
arrangements involving home and office working, hybrid working
solutions are at the forefront of many managers' minds. This
complexity of managing the challenges of work and capacity shows no
signs of abating, and only amplifies the pressure and stress on
critical back-office operations. We know that the combined
insights, visibility and productivity provided by our ControliQ and
WorkiQ products are standing our customers in good stead as they
navigate this period of significant further change in the world of
work. This is seen both in increased scale of our involvement with
existing customers and in the level of new sales as organisations
seek better orchestration of their work and resources in the face
of new challenges."
For more information, please contact:
ActiveOps Via Alma PR
Richard Jeffery, Chief Executive www.activeops.com
Officer
Patrick Deller, Chief Financial
Officer
Investec Bank plc +44 (0)20 7597 5970
Corporate Broking & PLC Advisory
Patrick Robb / David Anderson
Alma PR + 44 (0)203 405 0205
Caroline Forde / Sam Modlin / Faye
Calow
About ActiveOps
ActiveOps is a leader in Management Process Automation (MPA),
providing a SaaS platform to large enterprises with complex and
often global back-offices. The Group's software and embedded
back-office operations management methodology enables enterprises
to adopt a data-driven, scientific approach to organising work and
managing capacity.
The Group's enterprise platform comprises Workware+, its MPA
software platform, and AOM, the Group's operations methodology and
framework for effective back-office management. Together, this
combination of software and embedded methodology enables operations
managers to balance the competing priorities of meeting service and
quality standards while improving productivity and reducing
cost.
As at 31 March 2021, the Group has 170 employees, serving its
global customer base of approximately 80 enterprise customers from
offices in the UK, Ireland, USA, Australia, India and South Africa.
The Group's customers are predominantly in the banking, insurance
and business process outsourcing (BPO) sectors, including
Nationwide, TD Bank, Anthem Inc and DXC Technology.
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END
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