RocketBoots’ $68k Trial Could Expand to $234k SaaS Contract
RocketBoots Limited has secured a significant trial contract with a major Australian retail bank, potentially expanding to a $234k SaaS rollout that could boost its recurring revenue and international ambitions.
- Trial contract signed with major Australian retail bank for workforce and customer experience software
- Initial deployment across 6 sites valued at $68k with option to expand to 19 additional sites
- Potential total contract value of $234k if trial succeeds
- Contract adds $84k to RocketBoots’ annual recurring revenue
- Supports RocketBoots’ strategy for global retail banking expansion
RocketBoots Secures Strategic Trial with Major Bank
RocketBoots Limited (ASX – ROC), an AI-driven software company focused on workforce and customer experience optimisation, has announced a new trial contract with a major Australian retail bank. The deal marks another milestone in RocketBoots’ ongoing efforts to penetrate the competitive banking sector with its innovative SaaS platform.
The initial agreement covers a trial deployment of RocketBoots’ technology across six bank locations, valued at $68,000. If the trial proves successful within the expected three-month period, the bank has the option to expand the rollout to an additional 19 sites, potentially increasing the contract’s total value to $234,000. This staged approach allows the bank to evaluate the software’s impact on operational efficiency and customer service before committing to a broader implementation.
Enhancing Service While Controlling Costs
RocketBoots’ platform aims to revolutionise how banks manage their workforce and customer interactions by leveraging AI to optimise staffing levels and improve service quality without increasing costs. For retail banks, this means more precise scheduling, faster customer response times across channels, and the ability to unlock hybrid working models for branch staff. The software also helps reduce queue abandonment and loyalty risks, critical factors in today’s competitive banking environment.
Chief Executive Joel Rappolt highlighted the significance of the contract, stating that securing another major Australian retail bank underscores the growing demand for RocketBoots’ technology. He also pointed to ongoing customer trials and advanced negotiations as signs of momentum toward the company’s international expansion goals.
Financial and Strategic Implications
The contract contributes an additional $84,000 to RocketBoots’ annual recurring revenue (ARR), reinforcing the company’s subscription-based business model. While the identity of the bank remains confidential, the deal’s structure and potential scale suggest a meaningful opportunity for RocketBoots to deepen its footprint in the financial services sector.
Investors will be watching closely to see the trial’s outcome and whether the bank opts to proceed with the stage A rollout. Success here could pave the way for further contracts both within Australia and internationally, aligning with RocketBoots’ stated ambitions to become a global leader in workforce optimisation software for retail banks and other sectors.
Bottom Line?
The trial’s success could unlock a lucrative expansion phase, setting the stage for RocketBoots’ next growth chapter.
Questions in the middle?
- Will the major retail bank proceed with the stage A rollout after the trial?
- How will this contract impact RocketBoots’ overall revenue and profitability in the coming year?
- What are the prospects for similar deals with other banks domestically and internationally?
