OTTAWA, April 03, 2019 (GLOBE NEWSWIRE) -- A Fortune 500 company with revenues over $30B has recently expanded deployment of the ProntoForms platform into additional business processes in its North American and European workforces. The initial $1.2M contract which commenced July 1, 2018 with a 39 month term has increased in value to approximately $1.75M, inclusive of $425K new subscription commitments and $150K of incremental professional services.
The deployed platform enables field technicians to quickly and reliably complete complex processes for installation of industrial equipment, fire & safety compliance, and preventative maintenance.
The platform improves fundamental business processes to help the company meet key objectives, including:
- Improving revenue through increasing the ratio of field quotes approved
- Higher customer satisfaction through improved service delivery and equipment uptime
- Increasing cashflow by accelerating work complete documentation and invoicing delivery
Alvaro Pombo, CEO of ProntoForms, explains, "This expanded deployment is another positive sign that our enterprise expansion strategy is working; it also aligns with a trend that leading IT analysts have identified will continue to grow in the coming years. Large enterprises are significantly increasing their investment into low-code mobile app development platforms like ProntoForms to bolster the capability for core systems of record. The ProntoForms platform enables the deployment of specialized apps and workflows to empower field workers to handle very complex tasks reliably, as well as integrate data into core business systems - all without requiring software developers to build or maintain the solution.”
For more information about ProntoForms, visit www.prontoforms.com.
About ProntoForms
ProntoForms is a leading provider of smart mobile forms for enterprise. The Company's solution is used to collect and analyze field data with smartphones and tablets - either as a standalone solution or as a mobile front-end to corporate systems of record.
The Company’s 100,000+ subscribers harness the intuitive, secure, and scalable solution to increase productivity, improve quality of service, and mitigate risks. The Company is based in Ottawa, Canada, and trades on the TSXV under the symbol PFM. ProntoForms is the registered trademark of ProntoForms Inc., a wholly owned subsidiary of ProntoForms Corporation.
For additional information, please contact:
Alvaro Pombo
Chief Executive Officer
ProntoForms Corporation
613.599.8288 ext. 1111
apombo@prontoforms.com
Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
416-644-5081
bpedram@virtusadvisory.com
Certain information in this press release may constitute forward-looking information. For example, statements about the total value to the Company expected from this contract, the expected timing of such revenues, the benefits expected to be received by the customer as a result of using the Company’s products and industry trends are forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Please see the risk factors described in the Company’s most recent management discussion and analysis found at www.sedar.com for a discussion of some of such factors. Actual results might differ materially from results suggested in any forward-looking statements. For instance, the Company may not achieve the revenues expected from the contract described in the time frame anticipated or at all for a number of reasons, some of which are outside of the Company’s control including the status of the customer’s ongoing business and financial situation and the presence of standard termination clauses in such contract, the cusetomer may or may not enjoy the benefits expected from the contract and industry trends identified in the press release may not continue or may not be indictive of any future benefit to the Company. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.