CommSecure awarded $1.7 million contract to provide electronic bill presentment, archiving and payment solutions for leading utility company
Announcement posted by CommSecure 11 Feb 2006
CommSecure Limited (ASX:CMS) announced today that it has entered into a three-year agreement with Salmat Limited (ASX:SLM) to provide one of its large utility customers with electronic bill presentment, archiving and payment solutions, that supplement a range of other billing services already being supplied by Salmat.
CommSecure will be providing its comprehensive range of secure electronic commerce solutions to the utilitys 2 million customers, including:
* Electronic presentment of bills to both end customers and the utilitys customer service staff, using BillSecure.
* Online electronic archiving of customer bills, using CommSecures document storage and retrieval infrastructure and services.
* Payment of customer bills online, using PaySecure.
* Payment of customer bills over the telephone, using IVRSecure.
* Payment of customer bills by direct debit, using DDRSecure.
From estimates of usage provided by the client it is expected that CommSecure will earn approximately $1.7 million over the initial term of the agreement. Of this approximately $700,000 will be earned in the remainder of the financial year ending 30 June 2006, through the billing of setup fees, archive service licence fees and initial transaction fees. CommSecure has already commenced implementing the agreement and it is expected that all services to be provided under the agreement will be operational on or before 30 June 2006.
Furthermore, the contract includes options to extend the service for up to two further years; if these options are exercised it is estimated that CommSecure will earn approximately $2.3 million, over the extended life of the agreement.
This agreement is the fourth entered into by CommSecure since the commencement of its teaming agreement with Salmat to provide electronic bill presentment and payment solutions to Salmats clients, which was announced on 25 November 2005. CommSecure and Salmat are currently working closely together to secure further sales to other major billers.
This is clearly a very significant win for the CommSecure - Salmat alliance, and an example of what we can achieve together by bringing our complementary solutions to market in ways that commercially benefit major billers, says Mr Peter Townsley, CommSecures Chief Executive Officer.
About CommSecure:
CommSecure Limited (ASX:CMS) is a technology and services company providing comprehensive e-business solutions to corporate, government and other clients in Australia, Asia and the US. Established in 1998, it is one of Australias leading e-commerce specialists with solutions that include: PaySecure (Australias most complete e-payments gateway service); IVRSecure (telephone-based payment capability integrated to PaySecure); BillSecure (electronic bill payment and presentment); and MarketSecure (online share trading and financial markets systems). It captures and manages direct debit request forms via its DDRSecure service and provides sophisticated consulting services. See www.commsecure.com.
For further information:
Peter Townsley
Chief Executive Officer
CommSecure Limited
(02) 9497 4400
ptownsley@commsecure.com
Lachie Hill
Public Relations
Lachie Hill Communications
(02) 9555 4691
lachie@lhcomms.com.au
CommSecure will be providing its comprehensive range of secure electronic commerce solutions to the utilitys 2 million customers, including:
* Electronic presentment of bills to both end customers and the utilitys customer service staff, using BillSecure.
* Online electronic archiving of customer bills, using CommSecures document storage and retrieval infrastructure and services.
* Payment of customer bills online, using PaySecure.
* Payment of customer bills over the telephone, using IVRSecure.
* Payment of customer bills by direct debit, using DDRSecure.
From estimates of usage provided by the client it is expected that CommSecure will earn approximately $1.7 million over the initial term of the agreement. Of this approximately $700,000 will be earned in the remainder of the financial year ending 30 June 2006, through the billing of setup fees, archive service licence fees and initial transaction fees. CommSecure has already commenced implementing the agreement and it is expected that all services to be provided under the agreement will be operational on or before 30 June 2006.
Furthermore, the contract includes options to extend the service for up to two further years; if these options are exercised it is estimated that CommSecure will earn approximately $2.3 million, over the extended life of the agreement.
This agreement is the fourth entered into by CommSecure since the commencement of its teaming agreement with Salmat to provide electronic bill presentment and payment solutions to Salmats clients, which was announced on 25 November 2005. CommSecure and Salmat are currently working closely together to secure further sales to other major billers.
This is clearly a very significant win for the CommSecure - Salmat alliance, and an example of what we can achieve together by bringing our complementary solutions to market in ways that commercially benefit major billers, says Mr Peter Townsley, CommSecures Chief Executive Officer.
About CommSecure:
CommSecure Limited (ASX:CMS) is a technology and services company providing comprehensive e-business solutions to corporate, government and other clients in Australia, Asia and the US. Established in 1998, it is one of Australias leading e-commerce specialists with solutions that include: PaySecure (Australias most complete e-payments gateway service); IVRSecure (telephone-based payment capability integrated to PaySecure); BillSecure (electronic bill payment and presentment); and MarketSecure (online share trading and financial markets systems). It captures and manages direct debit request forms via its DDRSecure service and provides sophisticated consulting services. See www.commsecure.com.
For further information:
Peter Townsley
Chief Executive Officer
CommSecure Limited
(02) 9497 4400
ptownsley@commsecure.com
Lachie Hill
Public Relations
Lachie Hill Communications
(02) 9555 4691
lachie@lhcomms.com.au