Actual Experience PLC Channel Partner Update (5408G)

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RNS Number : 5408G

Actual Experience PLC

26 November 2020

26 November 2020

Actual Experience plc

(the "Company" or "Actual Experience")

Channel Partner Update

Actual Experience plc (AIM: ACT), the analytics as a service company, is pleased to provide the following Channel Partner Update.

New Purchase Order

The Company is pleased to announce that it has received a Purchase Order ("PO") from one of its Channel Partners in connection with a major deployment of its recently launched Human Experience Management offering ("HXM"). 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 ("BIA") 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

Enquiries:

 
 Actual Experience plc                      via Alma PR 
  Dave Page, Chief Executive Officer 
  Steve Bennetts, Chief Financial Officer 
 N+1 Singer Advisory LLP                    Tel: [phone] 
  Shaun Dobson                               3000 
  Tom Salvesen 
  Iqra Amin 
 Alma PR 
 Josh Royston                               Tel: [phone] 
                                             0205 
 Robyn Fisher 
  Helena Bogle 
 

About Actual Experience

Actual Experience's goal is to significantly improve the performance of the digital world.

The Company enables its partners to optimise their customers' digital ecosystem to increase productivity and enhance brand experiences through Human Experience Management.

Developed from 10 years of patented academic research and three patents, the Company's Human Experience Management Services analyse the human experience of any digital service. The Company's service provides organisations with actionable information whereby changes to the digital ecosystem can be made to optimise and improve digital experience for customers and employees. For any organisation, this means that their most valuable asset - their employees - are liberated from digital slow time, their online brand reputation can be protected and they can make informed ecosystem investment decisions.

Actual Experience is listed on the London Stock Exchange (AIM: ACT). Our corporate headquarters is in Bath, UK. Actual Experience's unique and patented digital analytics-as-a-service is founded on cutting-edge research at Queen Mary University of London.

For further information please visit www.actual-experience.com

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November 26, 2020 02:00 ET (07:00 GMT)