Recognition Systems Group Plc, the struggling UK-based provider of neural-based customer information systems, has won orders worth more than 900,000 pounds so far this year – more than the revenue it recorded in its last financial year. The company raised 3m pounds in December 1998 after recording hefty losses amid concerns that its weak financial position was putting off potential customers (CI No 3,555).
Recognition says it has won a $500,000 order for its Customer Relationship Management (CRM) software from Macromedia Inc and beat off competition from other CRM providers to supply Chicago-based Guarantee Reserve Life Insurance Co.
Now Recognition has signed two deals with partners who plan to build CRM services around its software. Webcraft Inc, a promotions company, plans to integrate RecognitionÆs software with its Consumer Data Warehouse database of information on 200 million individuals in the US. A partnership agreement has also been signed with KnowledgeBase Marketing Inc, a consultancy that offers consumer and business information.
Recognition Systems shares rose 29.3% on the news to close at 18.75 pence.