Last checked at 19 Jun 2023 07:00
19 June 2023
1Spatial plc
("1Spatial", the "Group" or the "Company")
First Two Traffic Management Plan Automation Contracts
1Spatial, a global leader in Location Master Data Management (LMDM) software and solutions, has secured the first two contracts for its newly launched Traffic Management Plan Automation (TMPA) solution under the 1Streetworks brand in the UK ("1Streetworks"). The first contract is with a major utility network operator and the second is with a large traffic management organisation. Both contracts are for a three-month term, with the intention to move to annual or multi-year contracts upon successful completion of the initial period.
Launched in November 2022, 1Streetworks automates the production of traffic management plans, diversion routing and asset inventory lists in the UK. Depending on complexity, current levels of investment in plan production range from several hours to multiple days. 1Streetworks produces a comprehensive, site-specific traffic management plan in just a few minutes. It significantly shortens the time, effort, and cost it takes for organisations to produce traffic management plans that are both consistent and compliant.
1Streetworks is an example of 1Spatial's move into offering pure SaaS-based solutions via its newly launched cloud platform, as part of the Company's strategy to increase its high margin, highly scalable recurring software revenue.
With an estimated addressable market in the UK low-speed roads alone of £250m and no comparable offering in the market, the opportunity for 1Streetworks has the potential to be transformational for 1Spatial.
Commenting on the contract awards, 1Spatial CEO, Claire Milverton, said: "1Streetworks has the potential to revolutionise the traffic management planning industry by providing organisations with a cost effective, accurate and immediate solution to a process that is currently time-consuming and labour intensive - freeing up their people, improving productivity and reducing costs.
"Through our cloud platform, we are adding a new layer of potential growth for the Group, targeting a niche area of the location market where we have identified significant demand and low levels of competition. We are excited about the future long-term contracts this solution will bring."
For further information, please contact:
1Spatial plc | 01223 420 414 |
Claire Milverton / Stuart Ritchie
| |
Liberum (Nomad and Broker) | 020 3100 2000 |
Max Jones / Edward Mansfield / Miquela Bezuidenhoudt | |
Alma PR | 020 3405 0205 |
Caroline Forde / Hannah Campbell | 1spatial@almapr.co.uk |
About 1Spatial plc
1Spatial plc is a global leader in providing Location Master Data Management (LMDM) software and solutions, primarily to the Government, Utilities and Transport sectors. Our global clients include national mapping and land management agencies, utility companies, transportation organisations, government and defence departments.
Today - as location data from smartphones, the Internet of Things and great lakes of commercial Big Data increasingly drive commercial decision-making - our technology drives efficiency and provides organisations with confidence in the data they use.
We unlock the value of location data by bringing together our people, innovative solutions, industry knowledge and our extensive customer base. We are striving to make the world more sustainable, safer and smarter for the future. We believe the answers to achieving these goals are held in data. Our 1Spatial Location Master Data Management (LMDM) platform incorporating our 1Integrate rules engine delivers powerful data solutions and focused business applications on-premise, on-mobile and in the cloud. This ensures data is current, complete, and consistent through the use of automated processes and always based on the highest quality information available.
1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in the UK, Ireland, USA, France, Belgium, Tunisia and Australia.
For more information visit www.1spatial.com