Knosys Extends ANZ Contract & Upgrades ANZ to KnowledgeIQ
- Contract extended for three years with option of additional two years’ extension
- Contract valued at over $6.5 million
- ANZ systems will be upgraded to latest version of KnowledgeIQ
Knosys Ltd (ASX: KNO) (“Knosys”) is pleased to announce that ANZ has signed a three-year contract extension for the continued use of Knosys’ knowledge management platform. ANZ also has the option to extend the contract further via two one-year extensions. The potential value of the contract over the entire five-year life is expected to exceed $6.5 million.
In addition to extending the Knosys contract, ANZ will upgrade its system to the latest release of KnowledgeIQ moving forward to benefit from its new features.
John Thompson, Chief Executive Officer of Knosys, said:
“This contract once again reflects the confidence that ANZ has in our company’s capacity to deliver a superior knowledge management platform.
“We are starting to see a trend in many industries where companies are transforming to become more agile and customer focused. They aim to create a more knowledge-based workforce capable of promptly dealing with change. Solutions such as ours support these initiatives by enabling staff to find relevant information more quickly, deploying new processes faster and to assist in multiskilling. This simplifies the sharing of information across business units and teams and eliminates silos.”
This contract combined with other recently announced wins with Optus and Singtel positions the company well, entering the next financial year with a strong recurring revenue profile. With this stable recurring revenue base, Knosys is now looking to invest in several initiatives to drive further sales in FY19 and beyond including increasing its direct sales force, investing in additional marketing and digital media resources, offering a multitenant (Cloud) version of its leading KnowledgeIQ software and opening a sales office in Singapore to prospect deeper into Asia.
Mr Thompson further said:
“The business is now definitely in a growth phase and has moved well beyond its start-up operations of 18 months ago. We now have good solid customers onboard, a great software solution, strong recurring revenues, and the opportunity to grow domestically and internationally.”
The Knosys KnowledgeIQ platform is an enterprise-grade, knowledge management solution that enables companies through a machine learning approach to discover and deliver personalised information to staff and customers to transform productivity and engagement.
The solution is designed to be the #1 used app in the life of an information worker being available on their desktop, tablet or smartphone. It drives productivity and optimizes processes by incorporating process wizards, decision guidance, collaboration & feedback while at the same time learning based on user behaviors, patterns and profiles. It also acts as the single knowledge hub from which all digital engagement solutions such as chatbots, web sites, self-service kiosks can consume relevant information interact with end customers in a consistent manner.
For more information please visit: www.knosys.it
For further information please contact:
Rod North, Managing Director,
Bourse Communications Pty Ltd
T: (03) 9510 8309 M: 0408 670 706