TikForce poised to boost revenues with launch of Digital Work Validation pack
TikForce has announced that its Digital Work Validation pack will be launched on August 19.
This package includes Police Clearance, Digital ID, Right to Work and Credentials Passport in one offering which is priced at $49.50, but delivers features worth nearly $150.
One of the standout features of TikForce (ASX:TKF) among the avalanche of tech stocks coming to market is the fact that it has a clear revenue model, and this development reinforces the group’s focus on generating income rather than simply relying on obscure data such as mobile device trends, page views etc.
The addressable market for this product is impressive with over 20% of the Australian workforce, representing more than 2 million workers, required to provide some form of validation for their employment.
TKF is the one stop shop for everything from police checks to course accreditation confirmations which use sophisticated technology such as biometric validation to ensure the potential employee is credible and appropriately qualified.
Importantly, TKF’s products are beneficial to a number of parties including employers, employees, HR enterprises and large contracting firms.
By contrast, many other players in this space compete with the likes of HR and contracting organisations. TKF’s model will see it teaming up with industry participants in a win-win situation that allows it to benefit from tapping into a large pool of employees while HR firms have access to in-depth global data on personnel awaiting placement.
As highlighted by TKF’s Managing Director, Kevin Baum, this initiative should prove to be an effective marketing tool in driving potential users to the TikForce platform.
Baum went on to say, “The new Digital Work Validation Pack is not only a great way to showcase the effectiveness and sophistication of the TikForce solution, but it also represents a massively valuable offer on worker verification that covers the primary elements to meet regulation for working in many industries”.
This development appeared to capture the interest of investors with the company’s share price increasing from the previous day’s close of 7.4 cents to hit a high of 8.3 cents before closing at 7.9 cents, representing an increase of 6.7%.
However, it should be noted that share prices are subject to fluctuation and investors should take a cautious approach to any investment in TKF and not base that decision solely on historical price movements.