Credit Clear sign 25 new clients in March 2022

Credit Clear sign 25 new clients in March 2022

Credit Clear, a leading receivables management provider, announce that they signed 25 new clients in March 2022, including a large Victorian Government statutory service provider, the City of Stirling Council in Western Australia, a non-bank lender providing consumer loans and an ASX-listed car parking technology business.

Together the new client wins represent over $2 million in anticipated additional revenue in the coming 12 months, with significant performance based and upsell opportunity across each of the new clients.

1. A significant Victorian Government statutory service provider has contracted CCR with a long-term five-year agreement, with an option to extend by another two years. The broad scope of the agreement will see CCR provide multiple collection solutions including early digital engagement and payment plans.

The agreement has strategic importance as a major government-based tender providing other state and federal government agencies with a fast-track due diligence and procurement approval process.

CCR’s exceptional track record in delivering high levels of customer experience measured by NPS scores and its modern and innovative approach played a key role in winning the tender.

2. City of Stirling, one of the largest local councils in Western Australia, has awarded CCR a multi-year contract. CCR already has strong representation among government councils in several states and City of Stirling is a significant addition.

The contract is strategically significant as the City of Stirling is particularly interested in introducing digital capabilities to support CCR’s end-to-end offering. City of Stirling would be among the first councils in Australia to adopt a digital first approach, providing CCR with an exceptional case study for other councils to follow suit.

Councils take particular care that their ratepayers are treated respectfully and provided with exceptional customer service.

3. A non-bank lender with a fast-growing consumer customer base, has contracted CCR to provide 3rdparty contingent collections. There is strong potential to upsell services, and importantly, it highlights the continued traction that CCR is making in the non-bank lending space.

4. An ASX-listed car parking business with international operations, has appointed CCR because of its expertise in this specialist sector. Work will begin initially in Queensland with the opportunity to expand into other Australian states and to partner with this client for government and local council work.

Credit Clear CEO Andrew Smith said, “CCR’s end-to-end offering supported by award-winning technology is consistently being recognised by existing and new clients as providing them with superior performance.

“It is this performance advantage that will see CCR continue to add material new clients, with hundreds of thousands of new customer accounts, to its portfolio, providing all the inputs for strong revenue growth into the future and I look forward to updating investors more fully following the release of our Q3 FY22 results later this month.”

The minimum contractual value of the individual wins noted above are not individually financially material, however the cumulative total of the new wins signed in March represents a material increase in group revenues.