8th Jan 2020 10:44
(Alliance News) - Rosslyn Data Technologies PLC said Wednesday it has won two large contracts with a minimum combined value of GBP900,000 over their minimum term.
The data technology company did not disclose the names of its two clients.
Rosslyn data said the contracts are for delivery of the Knowledge Capture part of Rosslyn's Information Management suite of products.
The first client win is a document search and management contract with a UK-headquartered insurance company "with a large retail customer base", Rosslyn said.
The client will be implementing Rosslyn's technology to enable its clients to access their documentation more easily through a self-service application.
It is expected to enable more than 3 million customer transactions per annum initially, increasing up to 14 million in due course, the company said.
The three-year contract has a minimum value which will increase with the volume of transactions, Rossly noted.
The second client win is an expansion of an existing knowledge capture contract with the UK subsidiary of a multinational data solution business.
The client is managing documentation storage for a UK government department relating to a data retention requirement lasting over many decades, Rosslyn said.
These latest contract wins add to a growing list of multi-national clients for both the group's RAPid supply chain analytics and information management solutions adding GBP200,000 to the company's average rate of return, Rosslyn said.
Chief Executive Officer Roger Bullen said: "These wins demonstrate again our ability to secure significant contracts with large clients who have a variety of needs relating to managing structured and unstructured data continues to be effective."
"Our focus remains on growing recurring revenues capable of delivering strong margins," Bullen said.
Shares in Rosslyn were untraded at 4.70 pence in London on Wednesday.
By Loreta Juodagalvyte; [email protected]
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