Actual Experience plc (LON:ACT), the analytics as a service company, has provided the following Channel Partner Update.
New Purchase Order
The Company is pleased to announce that it has received a Purchase Order from one of its Channel Partners in connection with a major deployment of its recently launched Human Experience Management offering. The Channel Partner’s customer is a leading global energy supplier. This opportunity represents a significant milestone for the Company and will represent the first large-scale deployment of a Business Impact Assessment project. The Company’s software will analyse the digital experience of 10,000 home and office-based employees for one month. This confirms the emerging opportunity for the BIA offering to meet the urgent need of its Channel Partners and their enterprise customers as they address the continued challenges of COVID-19-related changes and newly established ways of working across the world.
A recent publication by McKinsey* stated “COVID-19 has pushed technologies over the tipping point and transformed business forever“.
The Company’s software will be used to analyse the human experience for this customer for all its UK employees of all key commercial applications, quantifying the impact the employee experience has on top level business metrics and objectives such as operational efficiency, equality, carbon footprint and wellbeing. Depending on the extent of the business impact identified by the BIA, the customer may choose to proceed to the ongoing HXM Continuous Improvement (‘CI’) service.
Channel Partner progress
Since August 2020, the Company has announced amendments to agreements with two of its Channel Partners to facilitate the sale of its new HXM offerings. A third Channel Partner required no amendment to its agreement to sell the new offerings. The introduction of HXM is expected to result in a significant reduction in sales cycles, as well as facilitating a seat-based pricing model. Since August, the Company’s Channel Partners have rapidly established a list of target customers amounting to over 4 million addressable employees or seats.
Dave Page, CEO of Actual Experience plc, said: “We are delighted with the market engagement with our new HXM offerings. The progress we have seen since launching this Professional Services led offering confirms that our Channel Partners and their enterprise customers understand that our HXM Business Impact Assessment offering is highly relevant and timely.
Our Channel Partners are starting to generate a large addressable opportunity through an increasing list of target customers, many of which are global blue-chip enterprises, and we expect that they will progress through a significantly shorter sales cycle. This reflects our Channel Partners’ engagement with the new HXM offerings, which is stronger and on a deeper level than ever before.”
*McKinsey survey, 5 October 2020:
https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and-transformed-business-forever
