Checkit Regulatory News (CKT)

5 October 2015

Elektron Technology plc

Checkit New Product Launch

Cambridge based technology company Checkit Limited ("Checkit"), a subsidiary of Elektron Technology plc (AIM: EKT, "Elektron"), today launches its Work Management solution at the Restaurant Show. This is one of the most significant product launches in the Elektron Group's history, representing an investment in development to date of £2.3m. The product is set to replace the widespread use of pen and paper amongst customer facing, shop floor and field staff to track compliance with internal protocols and external regulation. This will provide a much needed boost to front line productivity and control while easing the burden of compliance. Checkit has selected the food industry as the first market in which to launch this product. In this sector in the UK alone approximately half a million sites could potentially benefit from its use, the vast majority of which currently rely on manual record keeping. In due course Elektron believes that the market opportunity will exceed £200 million per annum in the UK food industry alone.

Currently many businesses, particularly those employing large numbers of low skilled people, face very significant challenges in defining and enforcing routine tasks and demonstrating compliance. In the food industry, operating a food safety management system is mandatory, but the relevant checks, along with others related to quality and service delivery, are almost always defined and captured on paper.

As recently commissioned research* shows, managing these records is critical, with over 94% of respondents identifying that 'having the right records to keep the Environmental Health Officer happy to retain our Hygiene Star Rating is vital'. However 79% agreed that they would like 'a simple system that helps organise the schedule of checks and jobs between the staff and across both the day and week.'

Checkit Work Management does just this, allowing organisations to swap pen and paper for easy to use apps that simply guide and record user actions including temperature measurements, cleaning and health and safety checks. As a result of implementing the system, compliance management is transformed. Routine tasks are defined and managed in real time. Records are trusted and visible. And most importantly audit ratings and reputations are protected.

Checkit Work Management is the first of its kind to use the cloud to deliver outstanding functionality and an intuitive new design. It comprises

· The Control Centre: a cloud based application that easily defines checks, processes or actions to be carried out, and then stores and processes the results

· The Memo: a robust, touch screen handheld that prompts staff to perform the checks and record measurements whenever and wherever required

· Probes: capture temperature readings as needed by the checks and relay them wirelessly to the Memo

The system can be up and running in minutes, while setting up checks for a specific business is accelerated and simplified by the incorporation of sample checklists. These are the product of a unique collaboration with food safety enforcement officers, reinforcing the use of Checkit in legally compliant management systems.

The solution is remarkably cost-effective when compared with previous generations of systems currently on the market. Checkit provides an affordable and scalable solution at a price designed to be attractive to both small independents and larger, multi-site operators. Regular monthly payments provide access to ongoing support, secure storage, cloud based analysis and management, software updates and hardware. There is also a 'No Ties' option involving a larger upfront payment in exchange for the ability to cancel on one month's notice. Pricing for a single handset and the supporting cloud service is comparable to a typical mobile phone contract.

Its multi-site capabilities mean Checkit Work Management is completely scalable. It enables larger groups to standardise procedures across all their locations ensuring consistency in compliance. For the first time at low cost senior managers will be able to deploy processes across regions or organisations and view and compare the performance of each location in order to guide their staff to make improvements.

Although initially targeted at the food industry, Checkit Work Management is applicable to any business that needs to define, guide and record staff activities in the workplace.

John Wilson, CEO of Elektron Technology comments: "The launch of Checkit Work Management is a significant milestone in Elektron's history, demonstrating our commitment to investment in leading-edge disruptive technology to deliver future growth." 

For further information:

Notes to Editors

Elektron conceives, designs and markets innovative engineered products and services for businesses that connect, monitor and control

We have a multi skilled team of engineers, software and product line specialists based in Cambridge focused on the opportunities created by global trends in the following areas:

-- New waves of "aware" business applications: Checkit

-- Demand for ubiquitous power and data: Bulgin

-- Growth in high precision manufacture: Queensgate

In addition, Elektron owns a portfolio of well-established products and brands that provide cash flow as well as customer access and feedback.

* Quantitative Research undertaken with 146 caterers by Cambridge Direction, July 2015.