Rosslyn Data Technologies PLC (AIM:RDT) announced its first enterprise customer through its partnership with Chain IQ Group, an indirect procurement service provider.
In a statement, Rosslyn said it will provide its procurement analytics platform under a five-year contract to a tier one Japanese bank, which the board considers strategically important to the group.
Chain IQ and Rosslyn have undertaken several proofs-of-concept with potential customers since forming their partnership last year, with this new deal representing the first transition to a full customer.
This initial contract is of small value, but the group said it expects to be awarded further contracts because of its relationship with Chain IQ.
The partnership allows Chain IQ to identify any savings and efficiencies within a customer’s procurement spend and operation.
“This is our first enterprise customer acquired through this partnership and we are confident that more will follow in the near term,” said Rosslyn chief executive Paul Watts.
“We are delighted to add another tier 1 customer to our client base and under a long-term contract.”