Shares in ServicePower Technologies Plc (LON:SVR) were among the top risers on Wednesday morning as the mobile workforce management software firm announced a contract renewal.
A North American consumer products maker that is a long-time ServicePower client has signed up for another two years in a deal that will be worth around US$1.5mln to the Aim-listed company. To put that into context, ServicePower’s revenue (in sterling) totalled £13mln in 2015.
The manufacturer will use ServicePower’s ServiceScheduling, ServiceOperations and ServiceStats applications to deliver services under warranty, out of warranty and under service contract.
The contract extension will see the client migrate its ServiceScheduling licence from an on premise deployment to a hosted deployment managed by ServicePower. The software firm said the hosted deployment model would allow the customer to take advantage of cost savings as well as improved upgrade frequency and compliance.
The client will also expand its ServiceMobility deployment to a thousand licences as it phases out its existing mobile platform.
"Our innovative ServiceMobility product was proven by our long term client partner to fit its unique requirements over the past several months. On the back of that success, it confirmed its confidence in the ServicePower mobile workforce management software platform by expanding its contract with additional licences, custom development and a migration to our hosted AWS infrastructure for ServiceScheduling,” said Marne Martin, chief executive officer of ServicePower.
“Our goal with any client is to provide a platform on which the client's evolving mobile workforce strategy can succeed,” she added.
“In this particular case, the client continues to demonstrate its confidence in our team and in our products to serve as the platform on which, in this case, its field service operations, across both an employed and contracted network, are based.”
ServicePower shares rose to 3p from 2.75p overnight on the news in the morning session.