Workforce compliance company Wrkr (ASX: WKR) has gained a tick of approval for its platform with confirmation that major client Precision Administration Services has renewed its commercial contract with Wrkr for a further 2-years.
Precision, which first engaged Wrkr in 2021 and is known for its ‘Beam’ brand, provides essential clearing house and single touch payroll products and services. The renewed contract ensures that Precision will continue to utilise Wrkr’s platform, accompanied by Wrkr’s technology support services. This ongoing collaboration highlights the critical role Wrkr plays in supporting innovative digital payroll solutions that enhance the way employers handle their superannuation obligations.
Trent Lund, CEO of Wrkr, commented “We’re pleased to be signing this renewal of our agreement as it is a testament to the quality of our platform offering. We are very proud to continue to work closely with Precision as a cornerstone customer.”
Wrkr has carved a niche for itself in the workforce compliance sector by providing an innovative tech platform that addresses key challenges faced by businesses in managing their workforce-related compliance requirements. The Wrkr platform is designed to streamline complex processes such as payroll, superannuation contributions, and other compliance obligations, ensuring accuracy and efficiency.
Their solutions are tailored to simplify these processes, mitigate risks, and ensure that businesses meet all regulatory standards without the administrative burden typically associated with compliance tasks.
Precision’s digital payroll solutions are designed to enhance the efficiency of financial transactions related to workforce management, making them a key player in the compliance and payroll processing industry.
The renewal of this contract with Precision highlights Wrkr’s commitment to providing high-quality, reliable solutions that meet the evolving needs of their clients. As Wrkr continues to innovate and expand its offerings, the company remains dedicated to helping businesses navigate the complexities of workforce compliance with ease.
For the quarter ended 31 March 2024, Wrkr reported $465k in operating cash flow which took their 9-month YTD figure to $14k while retaining $1.9 million in cash on hand.
The pipeline of Wrkr’s opportunity continues to grow across the Superannuation sector through a collaboration with LinkGroup while also reporting a rise in commercial opportunities through collaborations with with KPMG Australia and Workday.
Mitch Korver is a Business Writer focused on high-growth companies listed on the ASX in the small and medium cap space.
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