Multiyear contract win with major wholesaler

RNS Number : 8820S

Crimson Tide PLC

19 July 2022

 

19 July 2022

Crimson Tide plc

("Crimson Tide" or "the Company")

Multiyear contract win with major wholesaler

Crimson Tide Plc (TIDE), the provider of the mpro5 solution, is pleased to announce a significant new long term contract win with a major UK wholesaler. The new client will be using Crimson Tide's mpro5 solution to digitalise processes across its entire estate of over 190 stores in the UK. The initial term of the agreement is for 3 years, with a total value in excess of £550k.

Logbooks form the backbone of evidencing compliance in the wholesale and retail sector. To date, the wholesaler has relied on traditional logbooks, making it very difficult to verify and learn from key data across its business operations.

Transferring from paper to digital will give the client improved visibility and real time insight into its business data, giving management teams the ability to respond to data highlighting non-compliance quickly and effectively. This is a typical example of how the mpro5 platform can help drive efficiencies and revolutionise operating procedures.

Barrie Whipp, Chairman, commented: "I am particularly pleased that one of the UK's most respected wholesalers has decided to partner with us in this long-term contract, which builds on our existing strength in the sector. mpro5 continues to prove to be a great solution for organisations looking to make use of the multifaceted capabilities of our platform. Our ability to provide this new client with dramatically improved insight into its operations, further evidences the diverse and flexible nature of the mpro5 platform. The contract is another building block in our growing annual recurring revenue."

For further information, please contact:

Crimson Tide plc	Via Alma PR
Barrie Whipp / Luke Jeffrey	01892 542 444
finnCap  (Nominated adviser and Broker)
Corporate Finance: Julian Blunt / James Thompson	[phone]
Corporate Broking: Andrew Burdis	[phone]
Alma PR - (Financial PR)
Josh Royston / Will Ellis Hancock	[phone]

For further information on Crimson Tide plc, see   www.crimsontide.co.uk

 

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