LONDON, UK: Tribal Group announced a series of cloud contract wins, demonstrating the attraction of the Group’s expanding range of cloud offerings to the education market.
The contracts have a combined Total Contract Value of £7.1m, and are expected to deliver an incremental Annual Recurring Revenue run rate of nearly £1.2m by the end of 2022.
University of Warwick
Tribal has signed a £3.5m, 5-year contract with its existing customer, the University of Warwick, to migrate its current Student Management System (SMS), SITS:Vision, to the Tribal:Cloud, providing an improved student experience and delivering operational efficiencies for the university.
The incremental revenue from the contract is £2.3m and includes incremental Annual Recurring Revenue approaching £0.5m per year. Implementation of the contract has commenced, with ARR expected to be recognised from end of Q1 2022.
Solent University and University of West London
Solent University and the University of West London, both new customers to the Group, have awarded contracts to Tribal to implement SITS:Vision as their new Student Management System, delivered as-a-Service from the Tribal:Cloud.
University of Leiden
Meanwhile, Semestry, the Group’s recent acquisition, has secured a significant win with a new customer for its cloud Scheduling product at the University of Leiden in the Netherlands.
Mark Pickett, Tribal’s CEO, commented: “I am delighted to welcome three new customers to Tribal, and delighted that the University of Warwick, one of the top research and teaching universities in the world, has selected our cloud service for the ongoing provision of their core student administration service.
It is a strong endorsement of the validity of our cloud-first strategy that the universities of Warwick, Solent and West London have all selected the Tribal:Cloud. With a growing recognition across the global education sector of the benefits the public cloud can provide, we are excited by the opportunity ahead.”
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30 Jul, 4:26 pm GMT+1 ·Disclaimer