Rosslyn Data Technologies PLC (LON:RDT) said it has won two large contracts for delivery of Knowledge Capture, part of its information management suite of products, with a minimum combined contract value of £0.9mln over their minimum term.
In a statement, the leading global big data technology company noted that the latest contract wins add to a growing list of multi-national clients for both the group's RAPid supply chain analytics and information management solutions, adding £200,000 to the company's annual recurring revenue.
Rosslyn’s chief executive officer, Roger Bullen commented: "These wins demonstrate again our ability to secure significant contracts with large clients who have a variety of needs relating to managing structured and unstructured data continues to be effective.
“Our focus remains on growing recurring revenues capable of delivering strong margins.”
The group said the first client win is a document search and management contract with a UK-headquartered insurance company with a large retail customer base, which will see the firm implement Rosslyn's technology to enable its clients to access their documentation more easily through a self-service application.
It noted that the client is expected to utilise the system to enable more than 3mln customer transactions per annum initially, increasing up to 14mln transactions per annum in due course.
Rosslyn said the three-year contract has a minimum value which will increase with the volume of transactions.
The company noted that the second client win is an expansion of an existing knowledge capture contract with the UK subsidiary of a multinational data solutions business.
It said the client is managing documentation storage for a UK government department relating to a data retention requirement lasting over many decades.