Kinatico posts $4m SaaS revenue as ComplianceX workflow platform launches

Workforce compliance solutions provider Kinatico (ASX: KYP) has reported software-as-a-service (SaaS) revenue of $4 million for the three months to the end of March.

The figure represents a 60% jump on the previous corresponding period and accounts for almost 50% of the total revenue for the quarter, which came in at $8.1m.

The positive financials continue a trend from the first six months of the year, during which Kinatico lodged consolidated revenue of $15.6m and SaaS revenue of $6.5m.

Pleasing performance

Chief executive officer Michael Ivanchenko was pleased with the company’s performance.

“This is an excellent result that has been delivered whilst simultaneously focusing on the launch of our ComplianceX platform, which we expect will further enhance our SaaS growth,” he said.

“Once again, I must thank all Kinatico staff for their excellent ongoing efforts and commitment to our common goal.”

‘Know your people’ solutions

Kinatico is a global provider of “know your people” solutions, comprising pre-employment screening, verification services and workforce compliance management.

The company offers real-time workforce compliance management via its core SaaS RegTech solution, which combines certifications and compliance data with business policy and legislative requirements.

The solution enables scalable compliance monitoring spanning pre-employment to real-time requirements related to geolocation, roles and tasks applicable across a wide range of industries.

Kinatico also provides a range of pre-employment checks via its CVCheck software, which has reportedly evolved into a “best-of-breed” employment screening and verification product with a track record of customer service excellence.

Workflow management

ComplianceX is the latest version of Kinatico’s platform, which the company claims will change people workflow management “as Uber did for rideshare and Canva did for design”.

The software synchronises disparate screening, validation, compliance and procedural systems with ad hoc data sources into a real-time, simple, secure, self-serve solution.

The easy-to-use product is designed to provide employers with real-time insights into their workforce and relieve concerns around how data is sent and stored across their organisation.