Rosslyn Data Technologies PLC (AIM:RDT) secured a three-year contract worth £500,000 from a multinational medical tech company, with the option of a two-year extension, sending shares in the big data specialist 23% higher.
The new Switzerland-based customer that serves people in over 100 countries chose the Rosslyn procurement analytics platform to embed its digital transformation programme across its supply chain management.
Adoption of the Rosslyn platform is expected to generate savings of around 10% for the customer in the first two years due to the depth of data insight available, the provider of cloud-based enterprise data analytics platform said in a statement Thursday.
It is the first contract to be awarded via a new partner of Rosslyn, which underlines the company’s strategy to focus on a partner-led approach.
Paul Watts, chief executive, commented: "This deal exemplifies the wider state of transition in the marketplace as organisations increasingly demand a full field of vision on their spend, which can only be gained by maximising data through the application of ever-more sophisticated technology.
“We believe the new Rosslyn platform has best-in-class procurement analytics capabilities and, as a result, we are well-placed to benefit from this growing trend.
“This contract is also further validation of our partner-led strategy and we hope to expand our relationship and secure more deals through this new partner."
Shares surged 23% to 2.0p.