Strengthening client relationships during COVID-19

RNS Number : 1443S

Rosslyn Data Technologies PLC

07 July 2020

 

7 July 2020

Rosslyn Data Technologies plc

("Rosslyn" the "Group")

Rosslyn strengthens client relationships with additional support and services during COVID-19

Rosslyn Data Technologies plc (AIM: RDT), a leading global big data technology company, announces that the resilience it reported at the time of its fundraising on 7 May remains and the Group has continued to assist clients in managing the consequences of COVID-19 restrictions in their procurement chain, using Rosslyn's RAPid procurement analytics platform. The Group's client operations and support have not been adversely affected by lockdown.

Rosslyn has a broad range of clients across sectors including manufacturing, banking, pharmaceuticals, food and beverages, leisure and transport (including airlines), many of whom have been impacted by reduced revenues as a result of the current pandemic.  This has driven a demand from clients to investigate new opportunities to reduce their cost base or deferment of supplies. COVID-19 has also highlighted new risks within the supply chain and Rosslyn has been able to assist its clients to better understand where the risks are and has enabled them to build increased resilience into their supply chains.

Within two days of lockdown in Europe, Rosslyn developed a COVID-19 dashboard and rolled it out to all its clients. The dashboard provides aggregated incidence data by country sourced from John Hopkins University with each client's own supply chain data and the geographical location of suppliers for each category of purchased product. Each client has been able to use this data to analyse COVID-19 impact risk within their own supply chain by geographical location and product type.  As lockdown measures are now easing on a country-by-country basis, clients are using this real-time data to restart supply chain operations.

Rosslyn has also assisted clients by undertaking analysis of client data to help identify potential savings. These savings have been categorised into three key areas:

·     supplier rationalisation and "tail-spend" visibility - providing opportunities to eliminate low-spend suppliers which take disproportionate time and cost to manage;

·     supplier invoice consolidation ie. reducing the number of invoices from high volume transaction suppliers, dramatically reducing processing time and cost, with possible headcount saving opportunities;

·     accounts payable audit ie. auditing supplier payments to identify duplicate or erroneous payments.

For one client, Rosslyn identified potential savings in the region of €12 million from these activities.

This initiative has been provided to clients on substantially a zero-cost basis and has been well received by them. The Group has seen a very sharp increase in levels of engagement with RAPid, with clients scrutinising their activity and spend data and searching for further opportunities within their supply chains. 

Whilst not providing incremental revenue to the Group for the current year, these initiatives strengthen relationships with its clients and underpin the Group's confidence in its prospects. Rosslyn is committed to assisting its clients by providing quality data which can be harnessed to inform critical business decision making.  We continue to develop our products to respond to increasing market demands.

Rosslyn Chief Executive Officer, Roger Bullen said ;

"With Rosslyn client operations unaffected by COVID-19, we're delighted to have been able to support our clients with enhanced services during this difficult time. The speed with which we developed the COVID-19 dashboard illustrates the versatility of our RAPid platform, and the closer engagement with clients has been very satisfying for our staff. Helping our clients build resilience and reduce risk in their supplier choices will have a lasting effect far beyond lockdown"

Rosslyn Data Technologies plc	Roger Bullen, Chief Executive Officer	[phone] [phone]
	Ash Mehta, Chief Financial Officer	[phone] [phone]
Cenkos Securities, Nominated Adviser, Broker	Stephen Keys/Giles Balleny	[phone]

Notes to Editors

Rosslyn Data Technologies plc, (AIM: RDT) is a leading provider of a cloud-based big-data analytics platform. The company provides analytical services by combining four key technologies: bulk data extraction; cleansing; enrichment; and visualisation, through a single cloud platform enabling users with detailed data to make more informed decisions. Rosslyn's RAPid platform is the Group's primary product available to its multinational customers. Further information can also be found on the Company's website at:  www.rosslyndatatech.com

 

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