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- Australian receivables management solution provider Credit Clear (CCR) has signed Suncorp Group (SUN) as its first major insurance sector client
- Suncorp is a leading ASX50 insurance and banking corporation with a market capitalisation of $13 billion
- The contract caps off a milestone third quarter for Credit Clear, with overall revenue and other key metrics showing growth
- On the market today, Credit Clear is up 3.45 per cent and trading at 75 cents per share
- Meanwhile, Suncorp Group is trading steady at $10.34
Credit Clear (CCR) has signed Suncorp Group (SUN) as its first major insurance sector client.
Suncorp is a leading ASX50 insurance and banking corporation with a market capitalisation of $13 billion.
Credit Clear is an Australian receivables management solution provider that
has developed a digital billing and communication technology platform that helps
businesses drive smarter, faster and more innovative financial outcomes.
The contract caps off a milestone third quarter for Credit Clear with overall revenue, digital communications and other key metrics showing growth.
Overall expected unaudited revenue for Q3 FY21 grew more than 30 per cent over the second quarter to more than $2.7 million. Additionally, digital communications grew 245 per cent to 2.8 million compared to this time last year.
It comes as March saw digital communications exceed one million for the first time, showing Credit Clear’s digital platform continues to grow.
Credit Clear Chairman Gerd Schenkel says the entry into the Australian insurance
sector and a strong third quarter shows the potential for the company to play a role in the multi-billion-dollar receivables market.
“Signing long-term, fixed-fee contracts with enterprise clients creates revenue certainty and shareholder value and demonstrates the flexibility of Credit Clear’s fully integrated, software-as-a-service digital business model,” he said.
“We are committed to delivering a world-leading interactive communications and digital payments platform for our clients across all major sectors,” he added.
On the market today, Credit Clear is up 3.45 per cent and trading at 75 cents per share. Meanwhile, Suncorp Group is trading steady at $10.34 at 12:35 pm AEST.
