Tech company Nvoi (ASX: NVO) has secured a big win with global recruitment company Adecco reaching terms for the use of Nvoi’s recruitment management platform and support services.
The 12 month agreement will see Nvoi’s JXT platform engaged by Adecco offices around the world including Australia, New Zealand, Hong Kong, Singapore, Taiwan, Malaysia, China and South Korea, where Adecco can build customised recruitment websites for their clients.
Already used by thousands of recruiters around the world, the JXT platform enables the creation of white-label recruiting sites where companies and/or clients can post job ads and collect all the required information from applicants in one place.
“Adecco is a global leader in the staffing industry and now a cornerstone partner in our business.This agreement demonstrates the demand for our product and validates our ability to serve the largest staffing agencies in the world,” said Nvoi CEO, Steve Butler.
While no commercial details to the deal were disclosed, Nvoi’s tech platforms operate under a Software-as-a-Service fees model where the JXT platform is being developed to serve smaller businesses looking to manage recruitment processes also.
“A strong pipeline of major new and renewing contracts is on the short-term horizon as we continue to build our global business, in parallel with continued product development work on a simplified SMB version of the JXT offering with a self-serve “Shopify” approach to scale,” said Butler.
JXT was acquired by Nvoi in June 2020 for $650,000, however, Nvoi has been adversely affected by COVID-19 which resulted in recruitment freezes around the world. This meant delays in the launch of their Nvoi Direct product
Since acquiring JXT and restructuring it to complement existing Nvoi services, the Company is aiming to capitalise on large recruitment pushes post-COVID. Improvements to JXT will deliver a fresh take on what Nvoi believes the recruitment process should be, whilst providing clients with the tools to make it a reality following major changes to the working environment brought upon by COVID.
Through FY20, Nvoi reported $268k in revenue but this did not include contracts brought across from the JXT acquisition.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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