Leading Consumer Products Company Selects Kneat’s SaaS Platform
LIMERICK, Ireland, August 5, 2020 /CNW/- kneat.com, inc. (TSX-V: KSI) (“Kneat”) is pleased to announce that it has signed a three-year master services agreement with a tier one consumer products company. This agreement may be renewed for additional periods agreed between the parties.
This global company employs more than 30,000 staff in the manufacture and distribution of leading consumer brands across multiple categories from household to health and personal care. It has selected Kneat’s SaaS platform to digitize its validation processes globally. This agreement, which starts immediately, allows the customer to deploy Kneat Gx across its global network to its many sites and multiple work processes, representing a significant opportunity for expansion of Kneat’s software. Initially the customer will focus on facilities, utilities and equipment validation in several lead US sites, before scaling to multiple global sites and work processes.
“We are pleased to be the solution of choice for this leading consumer products company. Kneat Gx will be utilized to deliver efficiencies, greater data integrity and a higher compliance standard for their validation processes worldwide,” said Eddie Ryan, Chief Executive Officer. “Our growing list of top tier customers are focused on digitizing their data intensive and regulated business processes using Kneat’s innovative software.”
Implementation will begin immediately at the lead US sites with go-live expected in Q4 2020.
Kneat continues to expand its customer pipeline and will report on further developments as they occur.
Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next generation Kneat Gx software platform (“Kneat Gx”). Multiple business processes can be configured on Kneat Gx from equipment to computer system validation, through to quality document management. Kneat Gx allows users to author, review, approve, execute testing online, manage any exceptions and post approve final deliverables in a controlled FDA 21 CFR Part 11/ Eudralex Annex 11 compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects and processes world-wide. Customer case studies are reporting productivity improvements in excess of 100% and a higher data integrity and compliance standard. For more information visit www.kneat.com.
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information, includes, but is not limited to, the relationship between Kneat and the customer, Kneat’s business development activities, the use and implementation timelines of Kneat’s software within the customer’s validation processes, the ability and intent of the customer to scale the use of Kneat’s software within the customer’s organization and the compliance of Kneat’s platform under regulatory audit and inspection. While such forward-looking statements are expressed by Kneat, as stated in this release, in good faith and believed by Kneat to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. The forward-looking information in this press release does not include a full assessment or reflection of the unprecedented impacts of the COVID-19 pandemic occurring in the first quarter of 2020 and the ongoing and developing resulting indirect global and regional economic impacts. This has resulted in significant economic uncertainty and even though the company has to date experienced no significant impact to its operations, any potential impact on our future is difficult to understand or measure at this time. Kneat does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investors’ own risk.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Hugh Kavanagh, Chief Financial Officer, kneat.com, inc., 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7, T: +353 61 203826, E: email@example.com