ACC.L Regulatory News (ACC)

2 Apr 2007 07:04

Access Intelligence PLC02 April 2007 FOR RELEASE 7.00AM 2 April 2007 ACCESS INTELLIGENCE PLC ("Access Intelligence" or "the Group") (Access Intelligence is a Software and Computer Services group of companies providing business critical compliance and legislative driven services to both public and private sectors on a recurring revenue basis) Due North and CedarOpenAccounts link to bring greater efficiency to NHS Trusts Access Intelligence is delighted that the partnership between CedarOpenAccountsannounced in its preliminary results statement on 15 March 2007 has resulted inits first joint contract win. The University Hospital Leicester has contracted with Access Intelligencesubsidiary Due North for its e-sourcing suite of software. The Due Northsolution will be used in conjunction with CedarOpenAccounts Health BusinessSuite to improve the efficient running of the hospital. The Due North and CedarOpenAccounts partnership intends to offer the solution to170 similar trusts in the UK. Neil Callow, Assistant Financial Director at University Hospital Leicester,said: "I am pleased with the way the Due North and CedarOpenAccounts have worked withUniversity Hospital Leicester in integrating our new financial management systemwith our e-sourcing suite of software. The new systems will improve the supplyof goods and services throughout the hospital and should result in considerablesavings and more efficient reporting systems." Alan Gray, Managing Director of Due North, added: "University Hospital Leicester has selected Due North's e-sourcing suite ofsoftware as part of its transformation of finance and procurement servicesproject which is planned to deliver significant benefits and reinvestment intopatient services. The Due North solution will be implemented alongside theCedarOpenAccounts Health Business Suite to provide an integrated purchasingsolution which will radically change and improve the way the Trust procures itsgoods and services." "The close relationship between Due North and CedarOpenAccounts as well as DueNorth's track record in the public sector were key factors in the decision toimplement the Due North e-sourcing suite of software." For further information: Access Intelligence plc 01904 520 840Jeremy Hamer (Non Executive Chairman)Brendan Austin (Chief Executive)Colin Davies (Finance Director) Cubitt Consulting 020 7367 5100Brian Coleman-Smith / Leanne Denman /Allison Reid Blue Oar Securities 020 7448 4400Rhod Cruwys / David Seal / Shane Gallwey Background note on Access Intelligence Access Intelligence is a Software and Computer Services group of companies providing business critical compliance and legislative driven services to bothpublic and private sectors on a recurring revenue basis. Since the flotation onAIM in November 2003, the Group has made three acquisitions focused in the areas of compliance software and data backup and recovery. The group today Access Intelligence is based in York with subsidiaries in York, Stockport,Greater Manchester, Chorley, Lancashire and Newcastle upon Tyne. The company has two principle divisions which are: Compliance software and services division: This includes a range of software including The Virtual Compliance Officer(TM)which enables companies in the retail financial services sector to support their customer acquisition process whilst also ensuring that they comply with ever increasing regulations from the EU and the FSA. Our suite of sourcing and procurement software streamlines and reduces costs oftendering and contract management for both buyers and suppliers in the publicand private sectors. The government has the objective that all public sectorbodies comply with its directive to use methods such as electronic tenderingfor goods and services in order to meet its planned reductions in publicspending of £20bn per annum. Data storage back-up retrieval division: The architecture and provision of high availability systems for mission criticalapplications that enable customers' data to be available at all times in theevent of computer failure. Online offsite data storage and retrieval through Backup&Running(TM) via securedata centers. Email monitoring. There is an ever increasing compliance emphasis driven byinitiatives such as Sarbanes-Oxley to ensure data is held appropriately and canbe retrieved easily when required. The business model The Group's income strategy is to build recurring revenues delivered through extendable contracts ranging between one and five years. This model should provide excellent visibility of future revenues and, with effective customer retention, outstanding gross margins over the longer term. The strategy for growth The strategy is to acquire businesses which have good management and high growth potential that fit the revenue model while, at the same time, adding value to the Group's existing services. The businesses acquired will have substantial autonomy to develop within budgetsagreed with the Group Chief Executive and Finance Director, whilst benefiting from the experience and cross selling opportunities provided by being part of an expanding group of companies. New companies to the group can take advantage of back office facilities where appropriate thus enabling them to concentrate onthe core activities of customer acquisition, service delivery and productdevelopment. At this stage of the Group's development, the Central Group Executive Team,which is based in York, will be kept to a maximum of three people, includingsupport staff. The Non-Executive Directors will continue to be involved insourcing and evaluating potential acquisitions and monitoring the performanceof the Group. This information is provided by RNS The company news service from the London Stock Exchange