Public sector ecommerce software group @UK has won two new contracts with customers from the education sector on either side of the Atlantic.
The first is a rolling annual contract with a Generic eMarketplace for Universities and Schools (GeM) supplier.
The global supplier has appointed @UK to implement an advanced global ecommerce site which will be integrated with the GeM.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The contract will generate £60,000 in the first year followed by revenues of around £100,000 per annum in revenues for @UK in subsequent years.
To put that into perspective, @UK made just over £2m in revenues in 2010.
The second ecommerce contract win is an integration project for a US Schools supplier. The project will integrate the supplier to two US School Purchasing consortia using @UK's sbxp connection technology (shopping basket exchange protocol) which allows @UK to provide plug-ins between all major purchasing systems and web development systems.
The company is hopeful that this will give @UK a foot in the door into the US and global market.
"@UK's SiteGenerator ecommerce software has a number of significant advantages, such as automatic tax calculations for the US market," the company satement noted.
"This is important for large customers since states such as California assume that there will be a sales person in the state and therefore that the business will be liable for sales tax. This means that large organisations may have multiple tax nexus (points of taxation) and that tax needs to be calculated at each of State, City, County and village/town level. Therefore automation and monitoring of the tax rates is a significant benefit to large organisations," the statement added.
The share price finished unchanged on the day of the announcement.
--
jh
-
Going part-time could leave a £58,000 hole in your pension: how to plug the gapThere are many reasons for switching to part-time work, but some savers don’t consider the impact on their pension until it is too late
-
Three bargain investment trusts to add to your portfolioThese three investment trusts are bargains compared to their net asset value (NAV), but one fund analyst thinks the deep discounts are unwarranted.
