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K2fly Limited (ASX: K2F) is a leading digital transformation company which helps clients optimise their physical and data asset values by providing innovative software solutions and consulting services to them. The group licenses its proprietary software, Infoscope, a Land Management and Stakeholder Relations solution, for the Energy and Resources market, which provides companies complete visibility on all activities related to the land holdings. It has also acquired RCubed, a South African IT product which works in the mining sector.
The company generates revenue from three distinct yet complementary segments, as depicted below
Companyâs Business Segments (Source: Companyâs Announcement)
Recently on 10th May 2019, the company announced that it has executed a Reseller Agreement with Esri Australia Pty Ltd to distribute Infoscope application. K2fly and Esri Australia will together offer resources and utility companies a new and dramatically more efficient way to manage land assets, which will improve their environmental, social and governance narrative.
Earlier in 2019 March quarter, the company had signed new Infoscope software license contracts with mining companies Mineral Resources Ltd (ASX:MIN) and Panoramic Resources Limited (ASX:PAN).
The company has been building a number of strategic partnerships, aimed at long term growth and sustainability of the K2F business. Currently, the company is having strategic alliances with global technology companies such as GE(USA), Esri (USA) and SAP (Germany), who assist the company in expanding its operations. K2fly and SAP have been promoting the virtues of the Infoscope solution for more than a year now. The company has been working with SAP and Esri to jointly position the Infoscope software product suite to both existing and new clients. These partnerships are essential to achieve a longer-term global expansion of the Infoscopeâs client base and securing clients in industries beyond mining.
The companyâs 3rd party Mobile Software partners include Capita, Kony and Totalmobile. K2F has been involved in two Kony assignments in 2018 and 2019. K2F has successfully developed solutions in Programmed Facility Management, especially in the area of health and safety. Recently, the company was engaged by Fortescue Metals Group to scope and design a number of solutions across different parts of its business. These partnerships are making sure that the company is working alongside its partners in key accounts, such as working with Kony in FMG and working with Totalmobile in EDF Energy.
Furthermore, the company has been developing long term partnerships in consulting. K2fly has won several consulting/advisory contracts and contract extensions with Tier 1 clients such as Western Power, ABB, Public Transport Authority, FMG and Programmed.
The company had signed a Time & Materials contract with ABB for consulting services in 2019, amounting to approximately $1.5 million. The contract with ABB is a typical partnership, where the company is seeking to develop in consulting services, which makes K2F a key partner for much larger organisations to assist them in the execution of large complex projects.
K2F last traded at $0.120, with a market capitalization of circa $8.01 million as on 14th May 2019.
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