We are pleased to announce that we have been awarded significant technology development projects with two existing clients to enhance our concierge service for the benefit of their valued customers, our members.
The first project, for an existing major global client, will develop and enhance our proprietary digital platforms with the objective of increasing user engagement of its cardholders in the Americas with the concierge, expected to help grow this existing Medium1 contract. The fee specific to this project is the equivalent of a Medium contract in FY 2023.
The second project, with another existing major global client, will enhance the communication integration of our proprietary digital platforms and user experience, under the existing Extra Large contract. The fee specific to this project is the equivalent of a Small contract in FY 2023.
Alex Cheatle, CEO, said;
“We have seen increased demand, particularly from our larger, more mature, corporate clients, to work with our in-house product and development teams to enhance Ten’s existing technology to create differentiation suited to their customer base.
These paid-for development projects are targeted to increase the engagement and satisfaction of the client’s users, which benefits both the corporate client and Ten; underpinning the return on investment for both parties.”
These developments are incorporated within our existing growth plan.
Ten categorises its corporate client contracts based on the annualised value paid, or expected to be paid, by the corporate client for the provision of concierge and related services by Ten as: Small contracts (below £0.25m); Medium contracts (between £0.25m and £2m); Large contracts (between £2m and £5m); and Extra Large contracts (over £5m). This does not include the revenue generated from suppliers through the provision of concierge services. Medium, Large and Extra Large contracts are collectively Ten’s “Material Contracts”.