Partnership with Top 5 global consulting firm

Rosslyn Data Technologies PLC

15 November 2024

 

15 November 2024 

Rosslyn Data Technologies plc 

("Rosslyn" or the "Company") 

Partnership with Top 5 global consulting firm

Validation of partner-led go-to-market approach

First contract already received via partnership that will generate ARR of over £100k

Rosslyn (AIM: RDT), the provider of a leading cloud-based enterprise spend intelligence platform, is pleased to announce that, following extensive negotiations as previously announced, it has now been awarded a contract by the US-based entity of a leading global consulting firm (the "Consulting Partner") to establish a centre of excellence to enable the Consulting Partner to best utilise the Rosslyn solution to deliver value for customers. In addition, the Consulting Partner intends to recommend Rosslyn as its preferred supplier, and the Company is pleased to also announce that it has secured its first customer (the "Customer") via this partnership. The contracts with the Consulting Partner and the Customer have a combined value of £520k over three years, with the contribution to revenue in the current financial year being c. £185k.

The establishment of this partnership represents a key milestone in Rosslyn's partner-led go-to-market approach. The Consulting Partner, which is headquartered in the US, is one of the five largest consultancies globally and is part of a professional services network of independent firms that provide audit and assurance, consulting, financial advisory, risk advisory and tax and related services with a presence in more than 150 countries. It is recognised as a leader in procurement operations consulting by ALM Intelligence in their Vanguard report.  

The contract with the Consulting Partner was awarded to Rosslyn following a rigorous and lengthy competitive tender process to select an advanced, enterprise-grade solution to replace the Consulting Partner's in-house system. The Consulting Partner will conduct a three-month internal spend visibility project for its operations based in the US, which will be utilised to embed the Rosslyn solution within the Consulting Partner's operations and establish a centre of excellence in North America. The project is estimated to provide spend intelligence visibility on over $5bn of annual spend across 17,500 suppliers. Rosslyn and the Consulting Partner will also develop a joint go-to-market strategy for the combined offering.  

The Company has already been introduced to a number of strong, prospective new business opportunities through the Consulting Partner, and is pleased to have won its first contract via the partnership, which is with a leading manufacturer of roofing and waterproofing solutions. Headquartered in the UK, the Customer has operations in c. 40 countries with over 120 production facilities across Europe, Africa and Asia, and is part of a global industrial company that operates in over 80 countries with over 20,000 employees across its 10 holding companies.

Paul Watts, CEO of Rosslyn, said: "We are delighted to have established a partnership with this leading consulting firm, which represents a key milestone in our partner-led go-to-market approach and sizeable new channel to market. The strength of the Consulting Partner's commitment to Rosslyn's solution is demonstrated by them funding a project to enable them to best utilise and present our platform to customers, particularly as this is the culmination of us having worked closely with many of their senior level employees in the US and the UK over the past year. We look forward to establishing a centre of excellence in the Consulting Partner's US operations, from which we expect to expand to other geographies, and to working together to deliver valuable spend intelligence for global corporations."

Enquiries

Rosslyn
Paul Watts, Chief Executive Officer James Appleby, Chairman	[phone]
Cavendish Capital Markets Limited (Nominated adviser and Broker)
Stephen Keys/Camilla Hume/George Lawson	[phone]
Gracechurch Group (Financial PR)
Claire Norbury/Anysia Virdi	[phone]

About Rosslyn

Rosslyn (AIM: RDT) provides an award-winning spend intelligence and predictive analytics platform. The Rosslyn Platform helps organizations with diverse supply chains mitigate risk and make informed strategic decisions. It leverages automated workflows, artificial intelligence and machine learning to extract and consolidate procurement data providing visibility of complex supplier data, enabling supplier spend savings and delivering rapid ROI. For more information visit www.rosslyn.ai. Investors wishing to contact the Company should email [e-mail].

 

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