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Invigor Group Limited (ASX: IVO) is a leading B2B data analytics and business intelligence group that offers data analytics solutions to retail and service industries in Australia, Asia, and Germany. The company operates through Condat AG and Australasia segment. It provides data analytics and other insights to visitors.
On 12 February 2019, the company reported that its fully-owned German subsidiary, TillerStack, has secured over $1,000,000 worth of new contracts during February 2019.
TillerStack is into the operations of providing sophisticated Field Service Management software solutions for major enterprises. FSM software is necessary for any business that delivers services as part of their operations. Beyond digitising workflows for dispatchers and mobile works in the field, TillerStackâs FSM software reduces service operating costs, improves the efficiency of the workers and delivers better customer experiences by enhancing key service metrics.Â
The company has secured a two-year contract renewal with leading European telecommunications company, UnityMedia, parent company Vodafone, to provide ongoing support and maintenance for its existing field service management solution provided by TillerStack.
The contract is valued at over $1,034,000 over two years, with revenue to be recognised from January 2019 through to December 2020. The locked in contracts of TillerStack are collectively valued at over $1,700,000 and will deliver stable and predictable revenue streams over the next two years.
TillerStack also expects additional mobile hardware orders and other services to be finalised in the coming months resulting in a further $414,000 worth of revenue to be recognised throughout Q1 and Q2 2019. The new enterprise mobile devices will complement the recent product enhancements and recent mobile devices orders announced by the Company in December 2018.
The CEO of TillerStack, Leslie Cohen said that the company is pleased to continue to grow its long-established partnership with UnityMedia. The new two-year contract will support the recent contract wins, including a large research and development project, which allows field service providers using best in class technologies, such as the Microsoftâs HoloLens. The team is excited about the opportunity to continue to innovate and grow with its customers and partners.
Invigorâs winning partnership which is deploying WeChat pay across several Asian markets is now entering an aggressive roll-out phase with multiple merchants now embedding WeChat Pay into their payment platforms. More stores will be added shortly, and an update is expected on the overlay of Invigorâs Loyalty technology into these WeChat Pay payment systems. As well, more pricing and loyalty contracts are expected to be signed which bolster and diversify Invigorâs growing revenue base.
On the price-performance front, the stock of Invigor last traded at $0.004 with a market capitalisation of $10.37 million. It opened at $0.005 with a dayâs high at the same price; however, it touched a dayâs low price of $0.004. The stock has yielded a negative return of 42.86% over the last three months period. It has a 52-week high price of $0.012 and a 52-week low price of $0.003 with an average volume of ~2.83 million.
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