REG - Crimson Tide PLC - Multiyear contract win with major wholesaler

Crimson TideAnnouncement

19/07/2022 07:00

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RNS Number : 8820S  Crimson Tide PLC  19 July 2022

19 July 2022

Crimson Tide plc

("Crimson Tide" or "the Company")

 

Multiyear contract win with major wholesaler

 

 

Crimson Tide Plc (TIDE), the provider of the mpro5 solution, is pleased to
announce a significant new long term contract win with a major UK wholesaler.
The new client will be using Crimson Tide's mpro5 solution to digitalise
processes across its entire estate of over 190 stores in the UK. The initial
term of the agreement is for 3 years, with a total value in excess of £550k.

 

Logbooks form the backbone of evidencing compliance in the wholesale and
retail sector. To date, the wholesaler has relied on traditional logbooks,
making it very difficult to verify and learn from key data across its business
operations.

 

Transferring from paper to digital will give the client improved visibility
and real time insight into its business data, giving management teams the
ability to respond to data highlighting non-compliance quickly and
effectively. This is a typical example of how the mpro5 platform can help
drive efficiencies and revolutionise operating procedures.

 

Barrie Whipp, Chairman, commented: "I am particularly pleased that one of the
UK's most respected wholesalers has decided to partner with us in this
long-term contract, which builds on our existing strength in the sector. mpro5
continues to prove to be a great solution for organisations looking to make
use of the multifaceted capabilities of our platform. Our ability to provide
this new client with dramatically improved insight into its operations,
further evidences the diverse and flexible nature of the mpro5 platform. The
contract is another building block in our growing annual recurring revenue."

 

 

For further information, please contact:

 

 Crimson Tide plc                                  Via Alma PR
 Barrie Whipp / Luke Jeffrey                       01892 542 444

 finnCap  (Nominated adviser and Broker)
 Corporate Finance: Julian Blunt / James Thompson   +44 20 7220 0500
 Corporate Broking: Andrew Burdis                  +44 20 7220 0500

 Alma PR - (Financial PR)
 Josh Royston / Will Ellis Hancock                 +44 7780 901 979

 

For further information on Crimson Tide plc, see  www.crimsontide.co.uk
(http://www.crimsontide.co.uk/)

 

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