Blue Prism Group PLC Trading Statement (3378G)
05 August 2016 - 4:01PM
UK Regulatory
TIDMPRSM
RNS Number : 3378G
Blue Prism Group PLC
05 August 2016
05 August 2016
Blue Prism Group plc
("Blue Prism" or the "Group")
Trading update
Blue Prism (AIM: PRSM), a leader in Robotic Process Automation
("RPA"), is pleased to provide an update on current trading.
Blue Prism has continued to enjoy strong pipeline progress. The
Group has won a number of new contracts including a contract to
deploy its RPA solution to a global tier-1 bank through one of its
major alliance partners. This is a significant contract win for
Blue Prism that provides a strong validation of its partner-led
sales model and whilst the size of the contract today is uncertain,
the Board believes it has the potential to become the largest
deployment of Blue Prism's software robots to date.
Alongside these contract wins, the Group has recently secured a
contract renewal with one of its largest customers, a
UK-headquartered global tier-1 bank, which signed a new three year
commitment.
Together, the renewals and the continued momentum in new
business wins in the year to date, mean that, subsequent to the
outlook detailed in the Group's interim results, we are confident
that Blue Prism will outperform the Board's current expectations
for the full year.
Alastair Bathgate, CEO of Blue Prism, commented:
"The Group has continued to perform well and we are very pleased
to announce the continued pipeline momentum and renewal, which
clearly illustrates the value Blue Prism's software provides. We
continue to focus on our partner-led sales model and bring forward
investment to enable us to take full advantage of our leadership
position in the growing RPA market."
For further information please contact:
Blue Prism Group plc via Newgate Communications
Jason Kingdon, Chairman
Alastair Bathgate, Chief
Executive Officer
Gary Johnson, Chief Financial
Officer
Investec Bank plc Tel: +44 (0)20 7597 4000
Andrew Pinder / Sebastian
Lawrence
Carlton Nelson / Dominic
Emery
Newgate Communications Tel: +44 (0)20 7653 9850
Bob Huxford / Adam Lloyd
/ Helena Bogle
About Blue Prism
Blue Prism is a UK-based software company and a leader in the
emerging global technology category of Robotic Process Automation.
The Group supplies software robots that automate clerical back
office processes and operate in similar fashion to humans, by
autonomously logging on and orchestrating various systems. Blue
Prism's Software Robots are differentiated in the market as they
have been designed to be deployed at scale in enterprise-sized
organisations where security, resilience, robustness, flexibility,
scalability and compliance can be critical.
Blue Prism's Software Robots provide a Virtual Workforce that is
operated by the business function while being supported by the IT
function. As such, software robots can address the "long tail" of
automation that is currently not able to be addressed by the IT
function due to limited economic granularity and resources.
The Group spent several years "industrialising" the software
with a number of its blue-chip customers, including Barclays Bank,
Co-operative Banking Group, Telefónica O2, RWE npower and Shop
Direct. This enabled Blue Prism to meet the product and methodology
standards needed to deploy this new robotic workforce in a
transformational way, much like BPO did to business back offices 20
years ago. For this reason, Blue Prism's customers see the robots
as a third sourcing option to complement onshore and offshore human
resources.
The Group is increasingly focused on establishing its global
Channel Partner ecosystem which currently includes Accenture,
Deloitte, Cap Gemini, IBM, id. Management, NEOOPS and
Thoughtonomy.
As at 30 April 2016 Blue Prism had 58 employees based out of
offices in Newton-le-Willows and London (UK) and Miami, Chicago,
New York and San Francisco (US).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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August 05, 2016 02:01 ET (06:01 GMT)
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