New ways of working ushered in by the pandemic are continuing to create opportunities for Bath advanced analytics firm Actual Experience, it said as it unveiled a narrowing of half-year pre-tax losses.
The firm’s pioneering advanced analytics systems enable companies to improve operational efficiency as more staff work from home.
In comments accompanying its interim results for the period to March 31, it said the market opportunity for its products continued to grow as almost all businesses seek to develop and prioritise their digital workplace as part of their post-pandemic strategy.
“The dataset provided by our product is used to improve the digital workplace and create a uniformly high standard of service for all employees,” it said.
“This will in turn improve business efficiency, support commercial growth, and facilitate the reduction of business travel and the associated level of carbon emissions.”
It added that since the start of the calendar year, its direct sales and marketing activities had already created “significant new opportunities”with a number of well-known global blue-chip organisations, adding there was “clear promise” of more to come.
Despite a 9% drop in revenues for the six months to the end of March from to just under £890,000, pre-tax losses were cut by 27% to £2.2m.
The firm, founded 11 years ago following a decade of cutting-edge research at Queen Mary University of London, raised £10m from a share placing in January to accelerate the roll-out of its software.
As a result, it said it now had a solid operational basis for business acceleration based on validation of its first Business Impact Assessment (BIA) projects.
Under its first largescale BIA engagement, with a leading global energy supplier, Actual Experience’s software was used to analyse the digital experience of thousands of home and office-based employees.
“The company and our channel partner are both delighted with the results of the project and discussions are currently underway to put in place a longer-term relationship,” Actual Experience said.
“It represents a significant milestone for the company, confirming the emerging opportunity for the BIA offering to meet the needs of our channel partners and their large enterprise customers as they address the continuing challenges of Covid-19 related changes and newly established ways of working across the world.
“In addition, we are currently in advanced discussions with a global FMCG (fast-moving consumer goods) organisation; this is the first large-scale BIA opportunity generated by our direct sales efforts.”
Actual Experience CEO Dave Page added: “We are pleased with the increasing level of interest in our services, and the success of our recent equity placing gives us the resources to respond to this significant opportunity.
“In particular, I am excited by the progress of our newly established direct sales team and the promising opportunities that are emerging.
“This team complements our existing channel partner strategy and I look forward to being able to share further details of this initiative in the coming months.
’We are seeing increased focus and progress from our channel partners with regard to sales execution, and this represents significant validation that they and their enterprise customers understand the value of our service offering.
“The continuing improvement in customer and partner engagement evidences the value of our dataset to businesses as they focus on new ways of working, and helps enterprises improve their efficiency as well as driving their environmental, social, governance, diversity, equality and inclusion ambitions.
“As the global economy becomes ever more reliant on digital technology and more flexible workplaces, the need for our services is greater than ever."
