Re: Also can someone help explain about the IBM deal. The IBM deal was signed and executed for $600k AUD for the initial 25k users. Now there is another field test until 9th Sep? I thought we had the trial a few years back?
The $600k is correct and is paid at $150k quarterly but booked as revenue upon the 1st payment which has been made earlier. The "Field Test" is not a pass or fail test or a trial. It is designed to allow 12 months implementing and ensuring GRIT is fully debugged, captures and delivers against the needs as indicated through this early release period of implementation. If any drawbacks to uptake are identified they will be addressed through this period to ensure maximum user uptake in the full scale rollout. The reality is this process leaves no holes in the GRIT application which ensures it will maximise uptake and have a long lifespan without competition.
TTB Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
