EFECTE PLC — INSIDE INFORMATION – 7 September 2021 at 16:05
Efecte Plc: The Social Insurance Institution of Finland has selected Efecte as its provider of service management solutions
The Social Insurance Institution of Finland (Kela) has selected Efecte Finland Ltd as its provider of service management solutions. The contract includes support and professional services related to the solution as well as options for data security and risk management solutions. The contract has a fixed period of five years after signature after which it remains valid until further notice.
The estimated value of the contract without options is approximately EUR 3.4 million for the fixed period of five years. However, the contract contains no minimum purchase commitments. If the volume estimates provided in the request for proposal would realize to the full extent, recurring SaaS revenue after completion of the delivery project would amount to approximately EUR 50.000 per month. The share of third-party licenses of the recurring SaaS revenue is estimated to be higher than usual but less than half of the total SaaS revenue under the contract.
The Social Insurance Institution of Finland adopted the decision on the procurement on 7 September 2021. The procurement award will become effective once the appeal period under the Finnish Act on Public Procurement and Concession Contracts has expired. The procurement award does not affect Efecte’s guidance for 2021.
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Efecte helps service organizations digitalize and automate their work. Customers across Europe leverage our cloud service to operate with greater agility, to improve the experience of end-users, and to save costs. The use cases for our solutions range from IT service management and ticketing to improving employee experiences, business workflows, and customer service. We are the European Alternative to global players in our space. Our headquarters is located in Finland and we have regional hubs in Germany and Sweden. Efecte is listed on the Nasdaq First North Growth Market Finland marketplace.