Contract wins and expansions at ActiveOps’ largest customers

Continued progress against Land and Expand strategy, underpinning growth plans

ActiveOps plc (AIM: AOM), a leading provider of Management Process Automation (MPA) software for running complex and global back-offices, is pleased to announce continued growth in its blue-chip customer base in the first half of the current financial year, securing new logos and contract expansions across all target regions and sectors. The contracts include the Group’s first enterprise level up-sale of WorkiQ into an existing ControliQ customer and several contract extensions, underpinning the Group’s growth plans.

The Group intends to announce an update on trading for the six months ending 30 September 2021 on 20 October 2021.

First enterprise level up-sale of WorkiQ

A leading North American banking customer and existing ControliQ user has signed an enterprise scale licence for the Group’s WorkiQ product, representing the first of ActiveOps’ top 10 customers to take a WorkiQ licence at scale, demonstrating the upsell potential for the newer WorkiQ offering.

WorkiQ captures workforce analytics from desktop activity for employee engagement, whether they are in the office, remote or hybrid, enabling business to better manage their workforce during the ongoing disruptions caused by the pandemic and continuing change to working practices. Recent data from across other customer implementations of WorkiQ, alongside established ControliQ deployments, has shown an incremental increase of 12% in productivity levels, on top of that achieved with ControliQ, which with labour a key cost driver for a tier 1 bank, provides a compelling use case for the offering.

New logo wins and continued customer expansions

New logo wins in the first half of the current financial year have been strong, including a large insurer and a healthcare payer in the US and in the UK a major BPO, an investment management firm and a global consulting and services group.

Many of the Group’s largest customers have expanded their use of ControliQ in the period, including three of the UK’s leading high street banks. One of the Group’s Australian banking customers has transitioned from an annual licence to a multi-year contract for ControliQ, increasing the revenue visibility from the customer and pointing to the central role of the software within the bank’s back-office operations.

ActiveOps CEO Richard Jeffery commented:

“With many organisations beginning the transition to new working arrangements involving home and office working, hybrid working solutions are at the forefront of many managers’ minds. This complexity of managing the challenges of work and capacity shows no signs of abating, and only amplifies the pressure and stress on critical back-office operations. We know that the combined insights, visibility and productivity provided by our ControliQ and WorkiQ products are standing our customers in good stead as they navigate this period of significant further change in the world of work. This is seen both in increased scale of our involvement with existing customers and in the level of new sales as organisations seek better orchestration of their work and resources in the face of new challenges.”

The Company’s Admission Document can be found on its website at www.activeops.com 

Below is a short interview with CEO Richard Jeffery, who provides an outline of the business, the Group’s strategy and rationale for listing on AIM