15 July 2021
("Checkit" or the "Group")
Checkit announces that the following product update will be provided during its Capital Markets Day to be held today between 10:00 am and 1:00 pm. Other than the information given below, no new material or price sensitive information will be released at the event.
The Group is pleased to announce a suite of additions which will transform the intelligent operations of the Checkit platform. The Directors believe that the new capabilities will further differentiate the Group's offering from its competitors and will be of interest to its target market of large multinational and complex organisations in the food retail, franchise, facilities management and healthcare sectors.
The Checkit platform is being upgraded with three important new capabilities:
The Shared Workflow Libraries feature enables organisations to build, share and easily update workflow templates. For example, this feature will allow distributed franchised operations such as quick-service restaurants and convenience stores ensure consistent best practice, quality, compliance and safety standards are being maintained across all locations, whether customer owned or not. Users will be able to build agility into their operating models and assurance that their brand standards and guidelines are met, which in turn will positively impact customer experience and brand image..
Job Sharing functionality allows multiple staff to collaborate on a single activity. As a result the platform has become more agile and will enhance the productivity of remote workforces. Collaborations are linked in real-time for users whilst they are online and also enables them to catch up with offline working as required. The Group expects Job Sharing to be of particular interest to the facilities management and healthcare sectors yet also offers an upselling opportunity for the Group's existing customers.
The Event-Driven Actions feature enables users of Checkit's monitoring technology to feed sensor alerts from equipment or buildings directly into a corrective workflow for rapid remediation and action by frontline employees. Again, this innovation represents an upsell opportunity for the Group's existing customer base, as well as establishing a highly differentiated proposition in the internet of things ("IoT") market. Competitive IoT offerings generally provide sensor alerts but typically do not provide any guidance for the requisite corrective actions. The Directors believe that organisations with busy front-line staff increasingly see this approach as outdated and are looking for guided, managed and mobile-friendly solutions.
Kit Kyte, Chief Executive Officer, commented: "I should like to congratulate our technical team for designing and delivering these important features and look forward to the further product innovations planned. It is part of our value proposition for customers that the platform is constantly being enhanced. These new features improve the functionality of the platform and further enhance the experience of the deskless worker . We plan to increase our commitment to product development now that Checkit's proposition has been validated as a result of its adoption by both large scale national and multinational organisations. We are excited by the opportunity to deliver our digital capabilities in the US, UK and worldwide to deskless workforces which have been historically under-served by SaaS (Software-as-a-Service) providers."
Checkit is the digital assistant for deskless workforces, enabling operational agility and intelligent decision-making in large multinational and complex national organisations. The solution offers optional plugins for sensor networks and smart building management.
The Checkit Connect platform prompts, guides, tracks and analyses frontline activities through digital workflows. Real-time data is captured from multiple workplaces. The platform empowers leaders to understand and improve processes, enhancing innovation, productivity, efficiency, energy usage, waste reduction, customer experience, safety and compliance.
Checkit provides intelligent operations tools to the retail, franchise, healthcare, life sciences, facilities management, catering, manufacturing, hospitality and commercial property sectors.
Checkit's customers include the NHS, bp, Waitrose, Sodexo and Center Parcs. The Checkit platform generates around 11bn data points per year from sensors and digital workflows.
Checkit is headquartered in Cambridge UK, with its operations centre in Fleet, UK, and US office in Florida. The company has over 170 employees.
+44 (0)1223 643313
Kit Kyte (Chief Executive Officer)
Aylsa Muir (Chief Financial Officer)
Yellowstone Advisory (Investor Relations)
+44 (0) 7710 164 120
Alex Schlich / Kate Divito
Singer Capital Markets (Nominated Adviser & Broker)
+44 (0) 20 7496 3000
Shaun Dobson / George Tzimas (Corporate Finance)
Rachel Hayes (Corporate Broking)