A CCWF news tidbit is a bit dated now... but, clearly relevant with a "trial period" that "is expected to last a period of 12 weeks, starting the second week of April 2012". If you read the news, the description of the "trial period" makes it sound like it is really more of a timeline for a three month long period during which they expect to complete their systems integration efforts ? Beginning in mid April, 12 weeks should have them be done with the "trial" in mid July... making that a reasonable "start date" for contract performance that generate revenue, only half of which should be measurable in the quarter that should then be reported out at the end of August... with the first full quarter of performance under the agreement being reported out in November.
Capital IQ is reporting that they're expecting CCWF will report revenues for the quarter about now... they'd estimated May 29... while it's probably far too early for there to be any meaningful revenue generation from this first commercial deal when it isn't even "installed" yet ?
Whatever you think of CCWF's potential, that quick timeline analysis is a pretty good and probably conservative guess (and probably useful as a generic reality check for almost any business)... as in the real world, versus the wildly impatient stock market, things do actually take time to accomplish. Noting that "good news" on a deal that they'd announced in March... means that you might begin to see the real impact show up in numbers that are reported... eight months later ? If the "trial" goes seamlessly well and things do work out more quickly than it seems they've anticipated ? Perhaps, best case, they'll be in revenue generating mode a quarter earlier ? So, maybe there'll be something to see reported in numbers as early as August... while the fact that they've defined it as a "trial period" seems it means that there is another set of decisions that will need to be made by the customer shortly after that calendar period has lapsed... if the deal is to be continued beyond a trial period ?
The end of July for deal news, and the numbers reported in August and November... seem to be what you have to watch for, here...
Anyway, here's the PR:
PRESS RELEASE
March 29, 2012, 9:00 a.m. EDT
Church and Crawford Sells Its Solution to a Middle Eastern Insurance Company with Target Revenues Set at $1 Million USD for 2012
LONDON, Mar 29, 2012 (BUSINESS WIRE) -- Church and Crawford, Inc. CCWF -9.72% can confirm today that its System Integrator, Kalsoft has signed its first commercial deal with a top Middle Eastern Insurance company.
The closing agreement between Church and Crawford, Inc. and the Insurance Company was based on the transaction model as previously set out by both companies. Church and Crawford will be sharing 60% revenue with its system integrator partner with the minimum anticipated revenue from this deal to be in the region of $1 million USD. Church and Crawford is looking to realise this in 2012.
The deal will cover an initial trial of an already identified test base from within the company and selected customer base. The trial is expected to last a period of 12 weeks, starting the second week of April 2012. During the trial the System Integrator, Kalsoft, will be integrating their existing Genesys ( genesyslab.com ) CTI solution with the EMPS+ to create a true end to end mobile to customer solution. The integration is expected to cover off key integration aspects into other third party Work Force Management (“WFM”) and call recording solutions.
A comment from Church and Crawford, Inc.
''We are pleased to have been selected by a prominent Insurance company to roll out our EMPS+ solution across their global customer base. These are exciting times for us to be able to offer a solution to today`s increasing demand for faster response and end user satisfaction from call centres, with calls into call centres costing up to $10 per call the Orexis solution will offer significant savings to not only to our current announcement but all customers seeking to reduce call centre expenses. With 9% of 1 million calls per month redirected to the Orexis solution the immediate savings are between $400,000- $800,000 in the first month for clients of Church and Crawford ''stated CEO Seijin Ki of Church Crawford. Mr. Ki goes on to state '' We are confident the company is taking the right approach as backed by the following comments from our new partner.
A comment from the Insurance Company
“This solution has taken our board, technology team and most importantly business champions by surprise. With many technologies out in the market, this was clearly recognised as a simple, easy, modern and for the first time a direct revenue generating solution. Our parent company is looking very closely at this solution and with a combined customer base of over 10 million this could prove to be a critical solution that will enable our future strategic advantage over our competitors. We are all looking forward to its implementation.”
Like any major pre-announcement, the company based in Jordan has requested anonymity until the trial phase is completed. However Church and Crawford is able to announce the sale and the anticipated revenue from this deal.
With the signing of this agreement it is expected that with an average call volume being in excess of 1 million+ calls per month, the Church and Crawford solution is expected to reduce the number of calls into the contact centre by up to 8% within the first 6 months of go-live. This figure is anticipated to rise to 10+% once the integration has been rolled out to its global customer base. The immediate area of savings for the company using the Church and Crawford solution software will be at the IVR level. The company will be able to leverage the multi-lingual chat facility to reach previously untapped or poorly serviced markets. The company has commented that this is the first time that they have been able to extend their customer experience to its customer base.
As with its first pilot deal, Church and Crawford worked closed with the System Integrator in providing the mobile contact strategy and identifying key areas of improvement and revenue from their proprietary cutting edge mobile ads software.
The EMPS+ solution has been developed for companies who need a cost effective channel to interact with their customers. EMPS+ is a standalone end-to-end solution providing a platform for customer interaction while delivering cutting edge mobile advertisement. It also integrates into existing Computer Telephony (“CTI”) solutions to provide immediate and extensive cost savings.
About Church & Crawford
Church & Crawford is a mobile phone software solutions company. The company develops and implements software solutions for mobile hand phones. Its main area of concentration is the development and implementation of software in these fields: Interactive Voice Response (“IVR”) solutions, Computer Telephony Integration (“CTI”) software.
Disclaimer for forward-looking statements for press releases
This Press release includes forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. Such forward-looking information and statements are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for Church Crawford and its subsidiaries and affiliates lines of business. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates" or similar expressions. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets for Church Crawford businesses, oil prices, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time. Although Church Crawford believes that its expectations and the information in this press release were based upon reasonable assumptions at the time when they were made, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in this press release. Neither Church Crawford nor any other company within the Church Crawford group is making any representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the information in the press release, and neither Church Crawford, any other company within the Church Crawford group nor any of their directors, officers or employees will have any liability to you or any other persons resulting from your use of the information in the press release.
Church Crawford undertakes no obligation to publicly update or revise any forward-looking information or statements in the press release.
SOURCE: Church and Crawford, Inc.
Church and Crawford, Inc. Seijin Ki, 416-841-5414 ski@churchandcrawford.com www.churchandcrawford.com Copyright Business Wire 2012
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