15 November 2024
Rosslyn
Data Technologies plc
("Rosslyn" or the "Company")
Partnership with Top 5 global consulting
firm
Validation of partner-led go-to-market
approach
First contract already received via
partnership that will generate ARR of over £100k
Rosslyn (AIM: RDT), the provider of
a leading cloud-based enterprise spend intelligence platform, is
pleased to announce that, following extensive negotiations as
previously announced, it has now been awarded a contract by the
US-based entity of a leading global consulting firm (the
"Consulting Partner") to establish a centre of excellence to enable
the Consulting Partner to best utilise the Rosslyn solution to
deliver value for customers. In addition, the Consulting Partner
intends to recommend Rosslyn as its preferred supplier, and the
Company is pleased to also announce that it has secured its first
customer (the "Customer") via this partnership. The contracts with
the Consulting Partner and the Customer have a combined value of
£520k over three years, with the contribution to revenue in the
current financial year being c. £185k.
The establishment of this
partnership represents a key milestone in Rosslyn's partner-led
go-to-market approach. The Consulting Partner, which is
headquartered in the US, is one of the five largest consultancies
globally and is part of a professional services network of
independent firms that provide audit and assurance, consulting,
financial advisory, risk advisory and tax and related services with
a presence in more than 150 countries. It is recognised as a leader
in procurement operations consulting by ALM Intelligence in their
Vanguard report.
The contract with the Consulting
Partner was awarded to Rosslyn following a rigorous and lengthy
competitive tender process to select an advanced, enterprise-grade
solution to replace the Consulting Partner's in-house system. The
Consulting Partner will conduct a three-month internal spend
visibility project for its operations based in the US, which will
be utilised to embed the Rosslyn solution within the Consulting
Partner's operations and establish a centre of excellence in North
America. The project is estimated to provide spend intelligence
visibility on over $5bn of annual spend across 17,500 suppliers.
Rosslyn and the Consulting Partner will also develop a joint
go-to-market strategy for the combined offering.
The Company has already been
introduced to a number of strong, prospective new business
opportunities through the Consulting Partner, and is pleased to
have won its first contract via the partnership, which is with a
leading manufacturer of roofing and waterproofing solutions.
Headquartered in the UK, the Customer has operations in c. 40
countries with over 120 production facilities across Europe, Africa
and Asia, and is part of a global industrial company that operates
in over 80 countries with over 20,000 employees across its 10
holding companies.
Paul Watts, CEO of Rosslyn, said: "We are delighted to have
established a partnership with this leading consulting firm, which
represents a key milestone in our partner-led go-to-market approach
and sizeable new channel to market. The strength of the Consulting
Partner's commitment to Rosslyn's solution is demonstrated by them
funding a project to enable them to best utilise and present our
platform to customers, particularly as this is the culmination of
us having worked closely with many of their senior level employees
in the US and the UK over the past year. We look forward to
establishing a centre of excellence in the Consulting Partner's US
operations, from which we expect to expand to other geographies,
and to working together to deliver valuable spend intelligence for
global corporations."
Enquiries
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Rosslyn
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Paul Watts, Chief Executive
Officer
James Appleby, Chairman
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+44 (0)20 3285 8008
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Cavendish
Capital Markets Limited (Nominated adviser and
Broker)
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Stephen Keys/Camilla Hume/George
Lawson
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+44 (0)20 7220 0500
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Gracechurch Group (Financial PR)
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Claire Norbury/Anysia
Virdi
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+44 (0)20 4582 3500
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About Rosslyn
Rosslyn (AIM: RDT) provides an
award-winning spend intelligence and predictive analytics platform.
The Rosslyn Platform helps organizations with diverse supply chains
mitigate risk and make informed strategic decisions. It leverages
automated workflows, artificial intelligence and machine learning
to extract and consolidate procurement data providing visibility of
complex supplier data, enabling supplier spend savings and
delivering rapid ROI. For more information visit
www.rosslyn.ai.
Investors wishing to contact the Company should email
investors@rosslyn.ai.