Contract with ASX 100 diversified industrial company

ASX Release

26 April 2018

IODM signs subscription contract with ASX 100 diversified industrial company

  • 3 year subscription contract substantially higher than the average subscription business model as highlighted in the Investor Update April 2018
  • Contract signed for one division in the multi-divisional company
  • Further business expected as the software is rolled out across other divisions
  • Further validation of growth opportunities in enterprise market

IODM Ltd (ASX: IOD; “IODM” or “the Company”) is pleased to announce a subscription contract with an ASX 100 Industrial company.

The contract is classed as substantially higher than the average business revenue model in the subscription space given in the investor update April 2018 due to the size of the company. The contract represents one division of the group’s operations, with further divisions expected to be rolled out following the successful onboarding of the initial contract. IODM Executive Chairman Mark Reilly commented, “The agreement illustrates the traction IODM is gaining around the country and New Zealand and the wider application of its solution for virtually any type of business and industry. The exciting nature of this contract for us is that here is a company that already has great cashflow conversion but underpins the appetite in this environment for a focus on cash, giving our software further validation and an important position in today’s financial models.”

“This is a large successful group in expansion mode that requires a robust system to handle further cashflow management for an increasing business and customer base.”

“Securing the agreement indicates the sales opportunities within the large enterprise market and our sales team has re-adjusted the target market accordingly.”

–Ends–

Investor inquiries:
Mark Reilly
Executive Chairman, IODM
0418 921 993
mark.reilly@iodm.com.au

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