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Invigor Group’s TillerStack locks in +$1 million in new revenue

TillerStack provides sophisticated field service management (FSM) software solutions for major enterprises.

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Two-year contract renewal with Vodafone subsidiary

Invigor Group Ltd’s (ASX:IVO) fully owned German subsidiary, TillerStack, has secured over $1 million worth of new contracts this month.

TillerStack provides sophisticated field service management (FSM) software solutions for major enterprises.

Beyond digitising workflows for dispatchers and mobile works in the field, TillerStack’s FSM software reduces service operating costs, improves worker efficiency and delivers better customer experiences by enhancing key service metrics.

TillerStack has secured a two-year contract renewal with European telecommunications company UnityMedia (subsidiary of Vodafone) to provide ongoing support and maintenance for its existing field service management solution provided by TillerStack.

The contract is valued at over $1,034,000 (€646,000) over a two-year period, with revenue to be recognised from January 2019 through to December 2020.

+$1.7 million locked in contracts

TillerStack’s locked in contracts are collectively valued at over $1,700,000 (€1.1 million) and will deliver stable and predictable revenue streams over the next two years.

The company also expects additional mobile hardware orders and other services to be finalised in the coming months resulting in a further $414,000 (€260,000) worth of revenue to be recognised throughout Q1 and Q2 2019.

TillerStack chief executive officer Leslie Cohen said: “We are pleased to continue to grow our longstanding partnership with UnityMedia.

“This new two-year contract complements recent contract wins, including a large R&D project which empowers field service providers using best in class technologies, such as the Microsoft’s HoloLens.

“The team is excited about the opportunity to continue to innovate and grow with our customers and partners.”

Quick facts: Invigor Group

Price: 0.025 AUD

ASX:IVO
Market: ASX
Market Cap: $3.8 m
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