Spenda Ltd (ASX:SPX) has made great strides in its commercialisation collaboration with Capricorn Society Limited, processing the first Digital Services Delivery (DSD) production platform and processing its first eCommerce Partner transactions.
The company has already secured $990,000 in development fees since the collaboration with Capricorn began and is now receiving recurring monthly software-as-a-service (SaaS) income of $100,000.
First revenues from the SwiftStatement commercial launch also began on November 4 – SPX is working with the Capricorn Sales and Marketing team to commercialise the product, on track for minimum revenue of $1 million for the December quarter.
Partners to explore new synergies
“Capricorn has a significant network of buyers and sellers,” Spenda managing director Adrian Floate said.
“Spenda has a breadth of technology built to improve the way businesses buy and sell from each other.
“Today, we took a significant step forward in leveraging each other’s strengths to bring a commercial innovation to market that should improve each company’s future.”
The two companies intend to continue collaborating to commercialise Spenda products under mutually beneficial arrangements that promise to improve service delivery to Capricorn’s 30,000+ members and 2,000 preferred suppliers.
In a statement, they said the collaboration was “continuing to explore new opportunities to use Spenda’s software to drive combined value across the Capricorn trading network”.
Spenda’s payments solution has three components – Software (ETR:SOWGn), Payments & Lending – and enables end-to-end e-invoicing integration, rapid ordering, digital trust and automated reconciliation.