RCS - Personal Group - Five-year contract extension with Sage Group plc

Personal groupAnnouncement

07/02/2022 07:00

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RNS Number : 7941A  Personal Group Holdings PLC  07 February 2022

07 February 2022

Reach

Personal Group Holdings Plc

("Personal Group" or the "Group")

 

Five-year contract extension signed with Sage Group plc ("Sage")

 

Sage Employee Benefits software platform to continue to roll out the offer to
Sage's millions of small and mid-sized customers

 

Personal Group Holdings Plc (AIM: PGH), the digitally-enabled employee
benefits and services provider, is delighted to announce it has extended its
existing agreement with Sage, the leader in accounting, financial, HR and
payroll technology for small and mid-sized businesses (SMBs), with a new
five-year contract.

 

Sage Employee Benefits ('SEB') is the Group's digital workforce engagement
platform for SMBs created and sold in partnership with Sage. The venture
provides Personal Group with the opportunity to substantially increase its
footprint within the SMB sector with potential access to Sage's significant UK
customer base whilst allowing Sage to expand its customer offering to include
a best-in-class benefits and engagement solution.

 

The new contract builds on the success of Personal Group and Sage's
partnership over the past year and will see the two companies continue to take
this best-of-breed market proposition to more customers. Following its
establishment several years ago, momentum in small to medium businesses using
the SEB platform has picked up significantly in 2021 growing from 30 SMB users
at the start of 2021 to c. 1,500 by the end of the year generating an
increased gross Annual Recurring Revenue of £1.6m.

 

The extension of the relationship with Sage is an example of the Personal
Group's continued execution and delivery of its growth strategy, extending its
influence across multiple channels and markets. The contract demonstrates the
growing opportunity and demand for wellbeing and benefits services within the
SMB sector.

 

Deborah Frost, Chief Executive of Personal Group, commented:

 

"We are delighted to announce that we have extended our contract with Sage for
an additional five years, building on the fruitful relationship we have had so
far. Our shared belief in the importance of creating a happier, healthier and
more productive workforce continues to drive our focus and enables us to act
in the most valuable way to achieve growth across both businesses.

 

"Sage has an extensive SMB customer base and through our partnership with SEB
we are now able to reach a significant number of smaller companies in the
UK.  The size of the market opportunity and the fact, to date, we have only
scratched the surface in terms of the potential opportunity is incredibly
exciting for Personal Group and we look forward to working with SEB to further
develop and capitalise on our relationship for the mutual benefit of both
parties.

 

"We are proud to be supporting SMBs by allowing them to access essential
employee benefits and wellbeing support more easily, at a time when demand is
at an all-time high."

 

Paul Struthers, MD, UKI, Sage, added:

 

"A quarter of UK employees - the equivalent of 7 million people - are paid via
Sage, so we have a responsibility to provide the right solutions that add
value to their working lives. Employee wellbeing is a focus for many more
businesses given the challenges they have faced in the past two years.

 

"Driving employee engagement helps to drive greater productivity and at Sage
we're focused on providing the right technology, with the right partners, to
help do just that."

 

- ENDS -

 

For more information please contact:

 

 Personal Group Holdings Plc                         +44 (0)1908 605 000
 Deborah Frost / Sarah Mace

 Cenkos Securities Plc                               +44 (0)20 7397 8900
 Camilla Hume / Callum Davidson (Nominated Adviser)
 Russell Kerr (Sales)

 Alma PR                                             +44 (0)20 3405 0205
 Susie Hudson/ Lily Soares Smith                     personalgroup@almapr.co.uk

Notes to Editors

 

Personal Group Holdings Plc (AIM: PGH) is an employee benefits and services
provider. The Group enables employers across the UK to improve employee
engagement and support their people's physical, mental, social and financial
wellbeing. Its vision is to create a brighter future for the UK workforce.

 

Personal Group provides health insurance services and a broad range of
employee benefits, engagement, and wellbeing products. Its offerings can also
be delivered through its proprietary app, Hapi, and the recently developed
extension to the platform, Hapiflex.

 

The Group's growth strategy is centred around widening the footprint of the
business into the SMB, talent-led & Public Sectors, thereby expanding the
addressable customer base. In addition, it aims to grow in its existing
industrial heartlands, to re-invigorate growth in insurance policyholders and
to drive the use of its SaaS offerings.

 

Clients include: Arsenal FC, Barchester Healthcare, Merseyrail, Randstad,
Royal Mail Group, The Royal Mint, the Sandwell & Birmingham NHS Trust,
Stagecoach Group plc., and The University of York. c.40% of clients are served
by two or more group companies.

 

For further information on the Group please see www.personalgroup.com
(http://www.personalgroup.com)

 

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