On 1 April 2019, Knosys Limited (ASX: KNO) announced the official launch of KIQ Cloud which is a new market-leading cloud service that will bring knowledge management to more businesses than it was providing ever before.
KIQ Cloud is a cloud-based, intuitive platform that simplifies and centralize the organizing and sharing of knowledge company-wide. Through KIQ Cloud, the teams and individuals would be able to identify the right information, whenever they need it. It will also provide the direction for workflows, processes and compliance. The KIQ Cloud platform is suitable to those businesses that operate customer contact centres, service desks, frontline offices or online self-service channels.
John Thompson, who is the managing director of Knosys stated that the launch of the KIQ Cloud platform is a crucial transformation of the business. With the launch, he expects that the company will continue to position itself well in the enterprise space. He also highlighted that the vision of the company is beyond this as the company wants to bring knowledge management to the masses. It wants every mid-market business which has 200 and more than 200 employees to have access to KIQ Cloud. Thus, these businesses would also be able to leverage the benefits that earlier only large enterprises were able to access.
Knowledge can take the form of documents, creative content, brand guidelines, procedures and is process, if not understood, could significantly impact the profits of the customerâs business. The business requires information that is accurate, consistent as well as easily accessible by the employees and the customers. The purpose of building this KIQ Cloud platform was to deliver improved employee productivity followed by the excellent customer experience. It could be implemented across the company to fill knowledge gap in every team and department.
In the last six months, Knosys Limited was engaged with various potential mid-market customers in the Asia Pacific region and were engaged in examining the value proposition. Based on this, the company developed a commercial model that is an outstanding and affordable offering to these businesses. The launch date of the platform is selected to coincide with the recent MS Gold Partnership announcement, in order to make it an attractive cloud solution available to its partners as well as its resellers.
The company expects that KIQ Cloud service to provide significant benefits to the business of Knosys. It is designed in such a manner that it will accelerate customer as well as the revenue growth. It will also be providing strong recurring revenue streams and will also shorten the existing sales cycle. With the penetration of the company into the broader market and also sharing cost amongst a larger number of users, the overall margin is expected to improve. Apart from this, Knosys Limited is deploying a new sales team which will be focusing on the mid-market to drive customer win in the APAC region for its new offering.Â For this purpose, Knosys Limited has opened new sales offices in Sydney as well as Singapore.
In the last six months, the stock has generated a negative return of 20.27%. However, the stock has given a decent YTD return of 18%. The shares of KNO traded last on 25 March 2019, where the closing price of the stock was A$0.059. The company has a market capitalization of A$8.45 million with approximately 143.24 million outstanding shares.
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