REG - Actual Experience - Second enterprise sale of new DWMP product

Actual ExperienceAnnouncement

25/07/2023 07:00

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RNS Number : 0133H  Actual Experience PLC  25 July 2023

25 July 2023

Actual Experience plc
(the "Company", "Actual Experience", or "Actual")

 

Second enterprise sale of new DWMP product

Actual Experience plc (AIM: ACT), the analytics-as-a-service company, is
pleased to announce that it has received a second order for its Digital
Workplace Management Platform (DWMP) within 9 months of commercial launch.

This new customer is a major global healthcare enterprise who have contracted
with the Company via a large US channel partner for the recently launched DWMP
Light option, in which a customer can choose to enter a shorter-term
engagement as a way of baselining their current digital ecosystem ahead of a
major transformation programme.

Scarlet Jeffers, Chief Product Officer of Actual Experience, commented: "This
second enterprise sale within such a short period of time since we launched
the new DWMP in October 2022 is extremely encouraging in terms of our
product-market fit. To drive early sales, we've adapted to the most pressing
needs of our prospective customers by creating this DWMP Light version, which
targets a particular market pain (quantifying the success of expensive digital
transformation programmes) and has a lower barrier to entry than the full
platform. Our expectation is that customers signing up for this version will
in time evolve to the complete DWMP offering."

This is a significant milestone for the Company as it marks the first
enterprise sale of the new DWMP through a large US based channel partner, as
well as entering a major vertical market sector. The global healthcare sector
represents a significant opportunity for Actual's innovative and
market-leading technology as well as proving to be economically resilient
under tougher market conditions. This order totals £135k in revenue for a 6
month baselining project. This amount will be deducted from the $200k
pre-payment made by the channel partner to the Company for Actual licenses as
announced on March 15 2021, but will be fully recognised as revenue over the
life of the contract.

Roy Jugessur, Chief Revenue Officer of Actual Experience, said: "We are
delighted to have been appointed to work with this large new enterprise
customer as part of a deeper strategic partnership. Throughout the process
there was clear acknowledgement of how Actual's SaaS analytics platform will
create value by tracking the impact of the customer's ambitious digital
transformation programme on employees as well as quantifying the ROI in terms
of productivity. Our continued growth proves that our disruptive technology is
a 'need to have' for IT and Operations leaders alike."

Actual Experience continues its focus on large enterprise sales both through
direct and partner engagements.  The Company is seeing a constant uptick in
interest for its Digital Employee Experience (DEX) products specifically
through the materialisation of RFP processes, showing that demand is growing
in this emergent market segment.

Iain McCready, Actual's newly appointed CEO commented: "This is an incredibly
exciting time for the Company as we begin to see the recent momentum in the
sales pipeline crystalising into early revenue for the new DWMP product. We
look forward to this next stage of growing our position in the DEX category as
it continues to take shape."

 

 

 

 

For further information visit www.actual-experience.com
(http://www.actual-experience.com)   follow on twitter @ActualExp, or
contact:

 

 Actual Experience plc                            Tel: +44 (0)207 129 1474

 Iain McCready, CEO

 Steve Bennetts, CFO
 Singer Capital Markets Advisory LLP              Tel: +44 (0)207 496 3000

 Shaun Dobson

 James Fischer
 Turner Pope Investments (TPI) Ltd                Tel: + 44 (0)203 657 0050

 James Pope

 Andy Thacker
 Flagstaff Strategic and Investor Communications  Tel: +44 (0)207 129 1474

 Tim Thompson                                     actual@flagstaffcomms.com

 Mark Edwards

 Andrea Seymour

 Anna Probert

 

 

About Actual Experience

Actual Experience's goal is to make the digital world work for everyone,
everywhere, all of the time. As the working world evolves post-pandemic, the
global shift to a flexible hybrid model has brought with it a significant
challenge; how do businesses create an environment that gives their people
what they need to thrive, whilst protecting the commercial efficiency of the
business and driving growth at the same time?

 

 

 

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