Global Software-as-a-Service (SaaS) information technology company Knosys (ASX:KNO) reports that Asia’s leading communications group Singtel has signed a 2-year contract extension for the continued use of the company’s market leading KnowledgeIQ platform.
This contract extension comes following a 3-year contract signing with ANZ Bank, as announced by the company in October this year, and provides further validation of the company’s enterprise Knowledge Management solution, underpinning the recurring revenue over the years ahead.
It is reported that the value of the contract over the 2-year period is expected to be $750,000. In addition, Singtel will upgrade to the latest release of KnowledgeIQ over the next 6 months in order to benefit from the new product features and capabilities.
Knosys also notes that it is currently implementing an industry vertical approach with its portfolio of SaaS solutions to further drive sales in FY23 and beyond.
“The recent contract extensions with ANZ Bank, Optus and Singtel validate our enterprise grade Knowledge Management solution, which gives us confidence in our pipeline opportunities moving forward”
Speaking on the contract, Knosys’ Managing Director, John Thompson says: “Over the past few years, Knosys has demonstrated that it has a robust business model through the cycle, with low volatility recurring revenue based on multi-year contracts with blue-chip clients.
All three of our SaaS solutions have an updated Product Roadmap with new advanced features, a distinct marketing position and clear target markets. The recent contract extensions with ANZ Bank, Optus and Singtel validate our enterprise grade Knowledge Management solution, which gives us confidence in our pipeline opportunities moving forward.”
Knosys is a leading SaaS provider based in Melbourne, Victoria with a specialised expertise in helping businesses manage information and knowledge by enabling them to make sense of information and use it to correct, collaborate and drive strong business outcomes for customers, employees and stakeholders.
The company currently has a focus on developing solutions that aid businesses in making the most of information and knowledge assets within their organisations, including knowledge management, intranet and library management solutions.