Krm22 Plc Share News (KRM)

(Sharecast News) - Technology and software investment company KRM22 announced the signing of a significant new customer contract for its 'Enterprise Risk Cockpit' on Thursday.
The AIM-traded firm said the unnamed customer would use the Enterprise Risk Cockpit to enhance its enterprise risk management framework and processes globally.

It explained that the Enterprise Risk Cockpit product would capture key linkages between business processes, risks, controls and events, allowing the customer to monitor and manage its enterprise risk profile.

The new customer contract was part of the previously-announced near-term pipeline of opportunities, and brings annualised recurring revenue to £4.2m as at 3 October, increasing to £4.3m in 2020.

"This new customer contract is an important milestone for us, as the first major win for the Enterprise Risk Cockpit since its launch in March this year," said KRM22 executive chairman and chief executive officer Keith Todd.

"This contract win shows further validation of the approach we are taking and businesses growing need to reduce the cost and complexity of risk management."