IODM signs first enterprise deal with Wilson Security

ASX Release

26 October 2016

IODM signs first enterprise deal with Wilson Security

  • Expected to recoup $2.5m of outstanding invoices in 180 days down to 40 days
  • Affirms IODM’s sales and marketing strategy
  • First rollout of multiple business divisions within the Group

IODM Ltd (ASX: IOD; “IODM” or “the Company”) today announced a new contract with multinational security firm Wilson Security. The deal will see IODM’s debtor management platform help Wilson Security manage a growing list of debtors brought about by recent acquisitions and business growth.

According to IODM Manager Director Damian Arena, the deal affirms the company is delivering on its go to market plan, particularly penetration into large corporates.

“This is the first enterprise deal for IODM since we debuted on the ASX earlier this year,” Mr Arena said.

According to Narelle Cirillo, Wilson Security’s Group Credit Manager, the rollout is expected to generate substantial efficiency gains and cost savings, improve customer experience and enable more effective reporting.

“This first enterprise implementation confirms we are executing on our plan in targeting key market sectors including credit management and large corporates.

“We’re excited about the growth opportunities within the Wilson Group but also many other go to revenue contracts in the pipeline,” Mr Arena said.

Investor inquiries:
Damian Arena
Managing Director, IODM
0419 106 176

Media inquiries:
Sally Locke
Amplify Communications
0413 584 323

About IODM

IODM is a software platform that fully automates the debtor management process that gets cash off the balance sheet and into the bank account, drastically improving velocity to cash flow. Through a single monthly fee, what normally takes hours to manage now only takes minutes, giving businesses control of all the parameters of the accounts receivable cycle. IODM interfaces with key accounting packages, and has 40+ partners across Australia. IODM is headquartered in Melbourne.

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