NZX-listed Geo goes live on Ingram Micro Cloud Marketplace to drive sales
- 04 October, 2018 07:45
NZX-listed technology minnow Geo, formerly GeoOp, is banking on new channels through Ingram Micro and AppDirect to help boost sales starting this month.
The company, which develops mobile workforce productivity apps, inked a global distribution deal with Ingram Micro's e-commerce Cloud Marketplace in April.
An investor presentation posted on the sharemarket today has stated that the company's new app will be activated on the marketplace this month.
Geo told shareholders the company's rebranding, digital relaunch and Ingram channel are expected to expand its new business funnel in the second half of the current financial year, while other channels to market are being investigated on AppDirect's e-commerce platform.
Geo offers two products, its mobile workforce management app, simply called Geo, and a sales-force management app, called Geo for Sales.
A 12.5 per cent decline in revenue from Geo for Sales in 2018 was attributed to under-investment due to diversion of focus and resources to the core Geo product.
Geo said it was now renewing its focus on the product, bringing third-party integrations in-house and devoting more resources to marketing the product.
In addition, Geo has also been resetting its pricing after deciding its flagship Geo app was under-priced. Between March and June, it told shareholders, 30 per cent of licenses were migrated to higher average revenues per user (ARPU).
Meanwhile, customers with inactive licenses are being migrated to lower license bands to encourage more use.
"License numbers have been managed down from 26,482 to 22,362 in the second half through this process, while delivering a 51 per cent increase in average ARPUs (up $4.06 to $11.96)," the presentation said. "The end game is a more profitable customer base using better products, paying market rates with high utilisation."
Announcing the Ingram deal in April, Geo said it was the first mobile workforce productivity app to appear on the cloud marketplace globally.
Geo operates its own small business development teams to target new business in Australia and New Zealand.
The company reported total revenue of $5.2 million in 2018 (including $922,000 in grants) and an $8.5 million loss despite a 40 per cent increase in underlying EBITDA.