Skyfii Ltd (ASX:SKF, OTC:SFIIF) has teamed up with a quick service restaurant (QSR) in South Africa to deploy its data collection and analytics solutions.
The omnidata intelligence company will roll out its ‘IO Connect’ (data collection) and ‘IO Insights’ (data analytics) solutions across 108 fast food venues in South Africa.
This isn’t the first deal of its kind for Skyfii: in 2019, the business expanded its deal with fast food brand Nandos to deploy its software-as-a-service IO platform across 260 stores in South Africa.
Skyfii says signing another large, well known QSR brand further expands its presence in the large, global fast-food vertical.
Providing real-time data
Skyfii CEO Wayne Arthur said of the deal: “Signing another well-known consumer brand to our growing profile of blue-chip customers is a positive reflection of the value our data capture and venue analytic solutions provide to our customers.
“With our presence in fast food restaurants across the globe, we are an industry leader in providing venue analytics which provides crucial real-time data, allowing our customers to provide an enhanced service through their venues.
“The increasing global focus on venue density, crowd management and occupancy are driving continued strong interest in our people counting and venue analytic products.
“With a strong balance sheet and a market-leading product offering, we are very well positioned to accelerate our growth efforts and will deliver a significant uplift in revenues in FY22 and operating leverage in FY23 and beyond.”
Next on the agenda
Although its new client remains unnamed, Skyfii says deploying its IO solutions to the new customer in South Africa may lead to further opportunities with this global brand.
In the meantime, the ASX-lister remains focused on expanding its global footprint in the rapidly growing omnidata intelligence sector, in which it processes more than 11 billion data points daily.
The company generated annual recurring revenue of $15.4 million at the end of FY22’s third quarter, recording $5 million in cash with no corporate debt.