logo-loader
viewVault Intelligence Ltd

Vault Intelligence wins contract with Compass Group to develop food safety systems

Vault recently launched the third edition of its successful enterprise platform, Vault 3.

a cook preparing a dish
Developing an online food safety module

Vault Intelligence Ltd (ASX:VLT) has signed a cornerstone deal with Compass Group New Zealand to provide its mobile and enterprise suite.

Compass Group New Zealand is wholly owned by the £25 billion Compass Group PLC (LON:CPG), providing food and support services to the healthcare, education, defence, and other sectors.

Vault will provide added risk and safety assurance to Compass via its cloud-based solutions for the risk, environment, health and safety (EHS) sectors.

An integral part of the new agreement will see Vault collaborating with Compass’s health and food safety specialists to develop an online food safety module.

New enterprise software launch

Vault recently launched the third edition of its successful enterprise platform, Vault 3.

Vault 3 allows for enablement of artificial intelligence (AI), blockchain and other emerging technology.

Importantly, the company is anticipating greater sales penetration and upselling to existing customers with the launch of Vault 3.

Sales momentum continuing to grow

In spite of the late launch of Vault 3, the company continued its sales momentum and has achieved an annualised recurring revenue (ARR) of $327,000 for the December 2017 quarter.

Vault remains on target to deliver the forecasted ARR for the 2018 financial year, set at $1.6 million to 2 million of contracted ARR.

The company is also well funded following a $4.5 million capital raise during the December 2017 quarter.

Quick facts: Vault Intelligence Ltd

Price: 0.34 AUD

ASX:VLT
Market: ASX
Market Cap: $43.52 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Vault Intelligence Ltd named herein, including the promotion by the Company of Vault Intelligence Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Vault Intelligence 'buoyant' with record quarterly results and advanced...

Vault Intelligence Ltd (ASX:VLT) chief executive officer David Moylan updates Proactive Investors on the software company's record quarterly results.   Contracted annualised recurring revenue (CARR) growth was $542,000 for the March quarter, lifting total CARR to $4.77...

on 24/4/19

2 min read