On 1 March 2019, 9 Spokes International Limited (ASX: 9SP), a Software as a Service provider from the information technology sector announced that it has entered into and also launched a co-sell partner arrangement of One Commercial Partner program with Microsoft. With this, 9 Spokes is now Microsoft’s One Commercial partner.
Based on this One Commercial Program, Microsoft will be incentivizing its sales team to co-sell the platform of 9SP to the banking communities. The model is designed in such a manner which will help 9SP to enter into a new market and also scale quickly through deep customer relationships along with the technical expertise of Microsoft across the world.
In July 2017, the co-selling program of Microsoft was announced. Since then, it has been piloted and also tested to huge success. The early sign of this success shows significant value creation to its partners.
Barrie Sheers, who is the Country Manager of Microsoft New Zealand stated that they are helping their partner to reach the same space as they are. They also want to improve their partners in building intellectual property which will create a demand in the market either by creating a technology bridge or by serving their end customers need. He also stated that Microsoft has a robust go-to-market team which demonstrates the channel partners the methods to embrace digital and also scale up the marketing efforts. Microsoft, using its platform brings value to their partners as well as their customers by building IP on top. These features enable them to co-sell with their partners and also provide them channel with scale as a part of Microsoft search engine, mid-market, spanning enterprise and small business. Once the partner solution gets built, tested, proven and credentialed, it is then offered in the market around the globe by directly pitching into the global customer base of Microsoft.
Through the One Commercial program, 9SP will also be seen in the list of Microsoft AppSource Market place which is an online cloud market place offering providing a customized line-of-business solution. Through Microsoft AppSource Market, 9SP will be provided with a flourishing channel where it can grow its platform base of small business users.
In late 2018, 9SP moved to Microsoft Azure infrastructure which provided the company with the capability as well as the flexibility to deploy its platform to new banking customers at a much faster rate and also to leverage extensive range of services in Azure platform like AI machine learning. The other advantage for 9SP with this alignment is that 9SP has now established key banking platform with the banking clients in the European, APAC as well as Australia and New Zealand regions as per their business model.
It is to be noted that on 25 January 2019, 9 Spokes International Limited and OCBC bank launched SME dashboard.
In the last six months, the stock has generated a negative return of 77.78%. However, its YTD performance is -29.41%. The shares of 9SP are trading at A$0.029 (Closing price as on 01 March 2019), up by 141.667% as compared to its previous trading day’s closing price. The company has a market capitalization of A$5.94 million with approximately 495.27 million outstanding shares.
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