21 March 2023
Actual Experience plc
(the "Company", "Actual Experience", or "Actual")
Contract Win
Significant contract with UK central government department
Actual Experience plc (AIM: ACT), the analytics-as-a-service company, is pleased to announce that, in conjunction with its partner Vodafone UK ("Vodafone"), it has secured its first contract for its newly launched Digital Workplace Management Platform ("DWMP"). The two year contract has been awarded by a UK central government department ("the Department") following a procurement process that we reported was underway at the time of the Company's 2022 final results issued on 27 January 2023.
Under the terms of the contract, the DWMP will enable the Department to measure its employees' human experience (HX) in an increasingly complex, hybrid working environment. The DWMP presents the results of these measurements in a timely and reliable dashboard format, highlighting areas where improvements can be made to increase productivity, as well as securing improvements to employee wellbeing. In this way the DWMP gives leaders the information they need to be able to manage and improve their digital workplace.
The Department has been a long standing user of Actual's legacy offering and were transitioned to the new DWMP as part of the early commercial launch process. Due to the success of the new DWMP and the value seen by the customer, Actual are delighted to have secured the contract renewal. The value of this order has initially been set at a similar level to previous years and represents a SaaS revenue stream of approximately £230k p.a. Actual expects to be able to give further information regarding this new contract in the near future.
Steve Bennetts, Interim CEO and Chief Financial Officer, commented:
"We are delighted to announce our first DWMP contract win, which is a significant milestone for Actual and has been achieved with our partner Vodafone. The Department has indicated that they will shortly be able to give Actual permission to provide further details regarding this project and we look forward to announcing this soon.
"Our focus remains on expanding our prospect pipeline and, as noted in our recently issued Annual Report, we expect to be able to announce further sales orders in the coming months."
For further information, visit www.actual-experience.com, follow on twitter @ActualExp, or contact:
Actual Experience plc Steve Bennetts, Chief Financial Officer
| Tel: +44 (0)203 128 8100 | |
Singer Capital Markets Advisory LLP Shaun Dobson James Fischer
Turner Pope Investments (TPI) Ltd James Pope Andy Thacker
| Tel: +44 (0)207 496 3000
Tel: +44 (0)203 657 0050 | |
Flagstaff Strategic and Investor Communications Tim Thompson Mark Edwards Andrea Seymour Anna Probert
| Tel: +44 (0)207 129 1474 actual@flagstaffcomms.com
| |
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?
By underpinning their strategic decision making with our data-driven insights, our customers gain the clarity and confidence needed to build sustainable digital ecosystems within their organisations - delivering both a great employee experience and increasing the efficiency of the digital workplace. Powered by over 10 years of academic Human Experience research, our Digital Workplace Management System doesn't need any interaction with employees to provide a unique and highly actionable dataset that People, Technology and Finance leaders can rely upon to plan impactful projects against their most critical agenda items including wellbeing, profitability, DE&I and ESG initiatives.
Actual Experience is listed on the London Stock Exchange (AIM: ACT). Our corporate headquarters are in Bath, UK. Actual Experience's unique and patented digital analytics-as-a-service is founded on cutting-edge research from Queen Mary University of London.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.