Actual Experience PLC Second enterprise sale of new DWMP product (0133H)
July 25 2023 - 2:00AM
UK Regulatory
TIDMACT
RNS Number : 0133H
Actual Experience PLC
25 July 2023
25 July 2023
Actual Experience plc
(the "Company", "Actual Experience", or "Actual")
Second enterprise sale of new DWMP product
Actual Experience plc (AIM: ACT), the analytics-as-a-service
company, is pleased to announce that it has received a second order
for its Digital Workplace Management Platform (DWMP) within 9
months of commercial launch.
This new customer is a major global healthcare enterprise who
have contracted with the Company via a large US channel partner for
the recently launched DWMP Light option, in which a customer can
choose to enter a shorter-term engagement as a way of baselining
their current digital ecosystem ahead of a major transformation
programme.
Scarlet Jeffers, Chief Product Officer of Actual Experience,
commented: "This second enterprise sale within such a short period
of time since we launched the new DWMP in October 2022 is extremely
encouraging in terms of our product-market fit. To drive early
sales, we've adapted to the most pressing needs of our prospective
customers by creating this DWMP Light version, which targets a
particular market pain (quantifying the success of expensive
digital transformation programmes) and has a lower barrier to entry
than the full platform. Our expectation is that customers signing
up for this version will in time evolve to the complete DWMP
offering."
This is a significant milestone for the Company as it marks the
first enterprise sale of the new DWMP through a large US based
channel partner, as well as entering a major vertical market
sector. The global healthcare sector represents a significant
opportunity for Actual's innovative and market-leading technology
as well as proving to be economically resilient under tougher
market conditions. This order totals GBP135k in revenue for a 6
month baselining project. This amount will be deducted from the
$200k pre-payment made by the channel partner to the Company for
Actual licenses as announced on March 15 2021, but will be fully
recognised as revenue over the life of the contract.
Roy Jugessur, Chief Revenue Officer of Actual Experience, said:
"We are delighted to have been appointed to work with this large
new enterprise customer as part of a deeper strategic partnership.
Throughout the process there was clear acknowledgement of how
Actual's SaaS analytics platform will create value by tracking the
impact of the customer's ambitious digital transformation programme
on employees as well as quantifying the ROI in terms of
productivity. Our continued growth proves that our disruptive
technology is a 'need to have' for IT and Operations leaders
alike."
Actual Experience continues its focus on large enterprise sales
both through direct and partner engagements. The Company is seeing
a constant uptick in interest for its Digital Employee Experience
(DEX) products specifically through the materialisation of RFP
processes, showing that demand is growing in this emergent market
segment.
Iain McCready, Actual's newly appointed CEO commented: " This is
an incredibly exciting time for the Company as we begin to see the
recent momentum in the sales pipeline crystalising into early
revenue for the new DWMP product. We look forward to this next
stage of growing our position in the DEX category as it continues
to take shape."
For further information visit www.actual-experience.com follow on twitter @ActualExp, or contact:
Actual Experience plc Tel: +44 (0)207
Iain McCready, CEO 129 1474
Steve Bennetts, CFO
Singer Capital Markets Advisory Tel: +44 (0)207
LLP 496 3000
Shaun Dobson
James Fischer
Turner Pope Investments (TPI) Tel: + 44 (0)203
Ltd 657 0050
James Pope
Andy Thacker
Flagstaff Strategic and Investor Tel: +44 (0)207
Communications 129 1474
Tim Thompson actual@flagstaffcomms.com
Mark Edwards
Andrea Seymour
Anna Probert
About Actual Experience
Actual Experience's goal is to make the digital world work for
everyone, everywhere, all of the time. As the working world evolves
post-pandemic, the global shift to a flexible hybrid model has
brought with it a significant challenge; how do businesses create
an environment that gives their people what they need to thrive,
whilst protecting the commercial efficiency of the business and
driving growth at the same time?
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