- Workforce software provider Vault Intelligence has signed a contract with SurePlan New Zealand
- The contract is for Vault’s SoloDrive software, a program which detects driving behaviours and ultimately increases road safety
- SoloDrive aligns with SurePlan as it also delivers collision and risk-reduction solutions
- The contract with SurePlan is expected to deliver a minimum total commitment value of over A$12 million
- Company shares are up 14.1 per cent, trading for 44.5 cents apiece
Vault Intelligence has executed a contract with SurePlan New Zealand for Vault’s SoloDrive solution.
The Aussie-based company is a leading software provider in the workforce and protection industry.
Vault’s SoloDrive solution essentially makes roads safer for workers and other drivers. It’s an extension of the company’s workforce management system, designed to manage and protect workers.
One of the software’s flagship features involves providing drivers with collision alerts through the Vault smartphone app.
SoloDrive can identify when a worker is inside a moving vehicle and if driving-related incidents occur during each SoloDrive trip. These incidents involve phone use whilst driving, hard braking, hard acceleration, hard cornering and speeding.
With this knowledge, individuals improve their own driving and make their roads safer.
This solution strongly aligns with SurePlan as it delivers collision, claims and risk-reduction solutions.
“The SoloDrive solution is the perfect enhancement for our business as it provides the tools needed to lift the driving performance of fleet drivers, which is our primary strategic objective for all New Zealanders,” SurePlan New Zealand CEO Gordon Brown said.
The contract with SurePlan is expected to deliver a minimum total contract value (TCV) of A$12.4 million over the commitment’s five-year term.
“Driver safety is exceptionally important to Vault so by creating SoloDrive, we have built a smart, intuitive and engaging solution to deliver real protection for drivers and provide significant financial efficiencies for businesses,” Vault CEO and Managing Director David Moylan said.
Vault’s SoloDrive has seen significant growth in the last six months, securing over A$26 million in TCV.
“We are excited to be working with SurePlan as an innovative and pre-eminent company in managing business fleets in New Zealand,” David added.
Company shares are up 14.1 per cent and are trading for 44.5 cents each at 11:17 am AEDT.