Cerillion (LON: CER) saw its shares rally more than 4% on Monday following the announcement of a significant new contract win.
The provider of billing, charging, and customer relationship management software said it has secured an $11.4 million deal with a national telecoms operator in the Caucasus region, covering a five-year initial term with potential for further expansion.
The agreement will see Cerillion supply its Business Support Systems/Operations Support Systems (BSS/OSS) software, supporting over one million B2B and B2C customers across various services, including fixed, mobile, broadband, and TV.
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The company added that the implementation of the software is set to begin immediately, with meaningful revenue benefits expected to materialise in the second half of the current financial year.
Cerillion CEO Louis Hall said the deal is another demonstration that the company’s “SaaS-based, productised approach is highly attractive, both financially and operationally, when compared to traditional bespoke solutions.”
“Our solution enables telcos to monetise their network infrastructure assets, increase revenue from their assets, enhance efficiencies and drive the customer experience at lower cost and more simply than other solutions,” Hall stated.
The company explained that its approach offers regular upgrades and industry-standard APIs, providing operational and financial advantages over traditional bespoke systems, which often involve lengthy implementation periods and higher costs.
The new contract is said to support the company’s existing consensus market guidance.
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