9 Spokes, the business insights dashboard for SMEs, has delivered on major IPO promises in recent months. In August, the company reported that user adoption had accelerated exponentially taking the company flying past the 15,000-user mark.
The company then followed up in September with news that it had signed one of the world’s largest banks, Royal Bank of Canada (RBC), as the company’s first client in the key North American market. Also in September, 9 Spokes progressed its relationship with OCBC in Asia and surpassed the 20,000 user mark.
9 Spokes CEO and founder, Mark Estall, said the company is already achieving its global aims. “9 Spokes, from day one, was set up and designed to be a global business,” Mr Estall said.
“We immediately started pursuing the largest banks in the world, firm in the belief that the global banks and their clients would love our platform and allow 9 Spokes to integrate deeply with their systems, which once achieved, would allow us to scale rapidly.
“After years of hard work, we are now beginning to see this expected leverage effect as a result of the Barclays integration. Thanks to Barclays’ marketing campaigns, the bank’s user adoption has increased remarkably. Demonstrating the increased velocity of adoption, the company took just 31 days to sign users 10,000 to 15,000, while the previous 5,000 users had signed in 54 days, and compared to 216 days for the first 5,000,” he added.
According to Mr Estall, the formalisation of the contract with RBC is an extremely important milestone for the company, representing the first channel signed since listing on the ASX and the entry of 9 Spokes into the massive North American banking market.
RBC is the market-leading retail bank in Canada and one of the largest banks in the world, based on market capitalization. It was recently ranked ‘Best Global Retail Bank of the Year’ by RBI, and ‘Highest in Customer Satisfaction Among the Big Five Retail Banks’ in Canada by JD Power. With RBC on board 9 Spokes’ channel addressable market (CAM) now stands at 2.75 million SMEs.
Mr Estall said the progression to signing a contract with RBC has been much faster than previous channel partners and demonstrates 9 Spokes greater capacity, resources, pre-sales efficiencies and an established platform.
“We are incredibly excited to commence what we believe will be an outstanding partnership between 9 Spokes and RBC. As organisations, we are very well matched with our innovative drive to help small business customers. Importantly, this is the first channel signed since we listed on the ASX and we believe that the cadence of signing new channel partners will continue to accelerate in the coming months,” Mr
Estall said.
“We continue to be ahead of schedule on adoption. Coupled with a large, diverse business development pipeline that continues to advance, and a strong cash balance, the company has never been in a stronger position.”
The 9 Spokes smart dashboard enables SMEs to connect their software to one dynamic interface – giving them a clear overview of their business. It allows management and advisors to access data and new metrics across key areas, from any device at any time.
With these insights, it’s easier to make the big decisions to either manage or grow a business.
Businesses can integrate their supported software into the dashboard as well as choose from a selection of recommended and accredited apps to suit their industry.
The smart dashboard from 9 Spokes is available as a Direct model to small businesses and as a white labelled platform that Channel Partners can offer to their SME customer base.