TIDMACT
RNS Number : 3700J
Actual Experience PLC
23 August 2021
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018).
23 August 2021
Actual Experience plc
(the "Company" or "Actual Experience" or "Actual")
New Contract Win
First major contract win since pivot to new professional
services 'land and expand' strategy
Actual Experience (AIM: ACT), the analytics-as-a-service
company, is pleased to announce that it has been awarded a
multi-year Continuous Improvement (CI) contract from a leading
global energy supplier ('the Customer'). This follows a successful
Business Impact Assessment (BIA) project which the Customer
completed in collaboration with one of Actual Experience's Channel
Partners.
Highlights:
-- The CI contract is with the UK arm of a leading global energy supplier
-- The total value to Actual is expected to be approximately
GBP1 million, based on the initial contract
-- The contract is for an initial three year period with potential for subsequent extensions
-- This is the first large customer to convert to a CI
engagement having initially completed a BIA project
This new contract award follows Actual Experience's initial work
undertaking a BIA for the Customer in March 2021, from which a
number of significant operational and financial benefits for the
Customer were identified. Under the terms of the contract, Actual
Experience will identify further potential operational
inefficiencies, as well as gaps in ESG, diversity and inclusion
policies, and recommend improvements as necessary. This project is
expected to deliver significant actionable data to the Customer as
it shifts its focus to hybrid working following the pandemic, and
will demonstrate the value of our new professional services
offering to other large enterprises.
This contract win provides Actual Experience with a potential
opportunity to execute on its 'land and expand' business model,
whereby the initial revenue stream will expand if the Customer adds
more employees to the service.
This contract win represents significant validation for Actual
Experience's new professional services business model:
-- Market validation - that our key sales opportunities are with
businesses transitioning to hybrid working post pandemic;
-- Target customer validation - that our key target customers are large enterprises; and
-- Product validation - that our BIA demonstrates the
significant economic benefit to customers of our actionable data,
enabling upselling to an initial CI contract, with the potential
thereafter to expand into a larger portion of the customer's
business ('land and expand' strategy).
This contract win is the first of a number of direct sales and
channel partner sales opportunities that the Company is currently
targeting. The total addressable market of employee in the sales
pipeline has grown from four million to more than ten million since
January 2021.
Notes:
Dave Page, CEO of Actual Experience plc, commented:
"This contract win is a significant milestone for Actual
Experience. It follows our pivot to professional services and is
validation of our new business strategy.
With the potential to further enhance the value of this contract
with our 'land and expand' strategy, in the UK and internationally,
as well as providing an important reference customer, this contract
is a significant milestone for the business.
With further opportunities in the pipeline, we look forward to
updating the market with news on our progress in the coming
months."
Enquiries:
Actual Experience plc Tel: +44 (0)203 128
Dave Page, Chief Executive Officer 8170
Steve Bennetts, Chief Financial Officer
Singer Capital Markets Advisory LLP Tel: +44 (0)207 496
Shaun Dobson 3000
Will Goode
MHP Communications Tel: +44 (0)203 128
Reg Hoare 8170
James Bavister
Alex Janiaud
Glossary
Business Impact Assessment (BIA) - a once off deployment of
Actual Experience analytics which quantifies the human experience
of a digital workplace in order to understand the impact that
workplace is having on operational efficiency, inequality, carbon
footprint, wellbeing, employee experience, and revenue.
Continuous Improvement (CI) - the ongoing deployment of Actual
Experience analytics to perform a Business Impact Assessment on a
regular and periodic basis, prioritise actions and act to improve
the digital workplace.
Pipeline - Actual Experience's pipeline of new business consists
of a set of customers at various stages of the sales process
starting with customers that have been identified by Actual
Experience and/or its Channel Partners for a targeted sales
campaign.
About Actual Experience
Actual Experience's goal is to make the digital world work
properly for everybody, everywhere, all of the time.
Our service has been developed from 10 years of academic
research. Using patented technology, the Company analyses the human
experience of digital services. In essence, Actual Experience
creates a new, unique and highly actionable dataset that helps CHRO
and CEO functions to meet their business objectives for New Ways of
Working such as greater business growth, greener growth, better
employee experience and wellbeing, and better diversity and
inclusion. No Interaction with employees is required.
The focus is on improving the Digital Workplace, creating a
level playing field for all employees, improving business
efficiency, and enabling the reduction of business travel and hence
carbon emissions. In this way, it also provides important new data
so that companies can act to drive their ESG and DE&I
agenda.
Actual Experience is listed on the London Stock Exchange (AIM:
ACT). Our corporate headquarters is in Bath, UK. Actual
Experience's unique and patented digital analytics-as-a-service is
founded on cutting-edge research at Queen Mary University of
London.
For further information please visit www.actual-experience.com
@ActualExp
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END
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