Software group KRM22 PLC (LON:KRM) has landed its first “significant” customer for a real-time enterprise risk management product launched earlier this year.
The deal, part of the £1.5mln pipeline disclosed last month, pushes the annual recurring revenue (ARR) to £4.2mln as of today, increasing to £4.3mln next year.
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In the six months to June recurring revenue was £4.1mln, a four-fold jump year-on-year.
The unnamed client will employ the Enterprise Risk Cockpit across its global operations to link business processes, risks, controls and events.
"This new customer contract is an important milestone for us, as the first major win for the Enterprise Risk Cockpit since its launch in March,” said executive chairman and chief executive Keith Todd.
“This contract win shows further validation of the approach we are taking and businesses’ growing need to reduce the cost and complexity of risk management."
Shares were unchanged at 52.5p.