Global information technology (IT) company Knosys (ASX:KNO) reports Australian telecommunications company Optus has signed an additional 1 year contract extension for the continued use of Knosys’ knowledge management platform, KnowledgeIQ.
The company says the value of this contract is expected to exceed $1 million. This is also the second time Optus has resigned with Knosys, finalising a contract extension for 2 years in April 2022. This new contract renewal will extend the engagement to January 2025.
Commenting on the contract extension, Knosys Managing Director John Thompson said this further contract extension allows the company to continue its partnership with Optus and further develop the knowledge management solution to meet its future needs.
“Our development focus over the next 2 to 3 years will be on furthering the capability of KnowledgeIQ to improve employee productivity and on further enhancements to its usage in customer facing activities.
“Over the past 6 months, we have secured contract extensions from our major KnowledgeIQ customer base, including ANZ Bank, Singtel, and Optus”
Over the past 6 months, we have secured contract extensions from our major KnowledgeIQ customer base, including ANZ Bank, Singtel, and Optus. This provides visibility on our recurring revenue base over the year ahead and enables us to make strategic investment decisions on the furter development of the solution.
Knosys enters 2023 with a diversified customer base, a portfolio of software solutions, strong recurring revenues, and the opportunity to continue growing domestically and internationally.”
Knosys is a software-as-a-service (SaaS) provider based in Melbourne that specialises in helping businesses manage information and knowledge. The company says it enables organisations to ‘make sense’ of information and use it to connect, collaborate, and drive ‘strong’ business outcomes for customers, employees, and stakeholders.
The focus for Knosys is developing solutions that enable businesses to make the most of information and knowledge assets that sit within their organisation including knowledge management, intranet, and library management solutions.