ACT.L Share News (ACT)

(Sharecast News) - Analytics-as-a-service provider Actual Experience updated the market on its recent operations on Thursday, announcing that it received a purchase order from one of its channel partners in connection with a "major deployment" of its recently-launched 'Human Experience Management' (HXM) offering.
The AIM-traded firm described the partner's customer as a "leading global energy supplier".

It said the opportunity represented a "significant milestone" for the company, and would represent the first large-scale deployment of a business impact assessment project.

The software would analyse the digital experience of 10,000 home and office-based employees for one month.

"This confirms the emerging opportunity for the business impact assessment offering, to meet the urgent need of 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," the Actual Experience board said in its statement.

It said the software would be used to analyse the human experience for the customer for all of its UK employees of all key commercial applications, quantifying the impact the employee experience had 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, the customer could choose to proceed to the ongoing 'HXM Continuous Improvement' service.

Actual Experience noted that since August, it had announced amendments to agreements with two of its channel partners to facilitate the sale of its new HXM offerings.

It said on Thursday that a third channel partner required no amendment to its agreement to sell the new offerings.

The introduction of HXM was 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 had "rapidly established" a list of target customers, amounting to more than four million addressable employees or seats.

"We are delighted with the market engagement with our new HXM offerings," said chief executive officer Dave Page.

"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."

Page said the company's channel partners were starting to generate a large addressable opportunity through an increasing list of target customers, many of which he described as "global blue-chip enterprises", with the firm expecting that they would 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."

At 0927 GMT, shares in Actual Experience were up 16.74% at 87.56p.