TikForce signs with one of Australia’s largest human capital providers
TikForce Limited (ASX:TKF) has signed an memorandum of understanding with WorkPac Group Pty Ltd to work together on joint bids, tenders and projects.
The agreement will see WorkPac leverage the TKF platform as part of its business development operations, with the verification technology to be integrated with the WorkPac candidate management process.
Candidates applying for jobs will be required to be verified using TKF’s platform before being placed into a role.
For each candidate that needs to be verified TFK will receive a fee.
WorkPac is Australia’s largest independent/private Human Capital provider with more than 750,000 registered individuals on its database and has an annual turnover of more than $700 million.
In FY2014/15 WorkPac placed over 40,000 applicants successfully into new employment roles.
WorkPac services the mining, construction, engineering, oil and gas and healthcare sectors.
The partnership sees TKF gain immediate access to WorkPac’s extensive network, opening up a new source of revenue for TKF, whilst also validating the technology with an industry leader.
Revenue figures are speculative at this time, with no firm figures given from this partnership. As such if considering this stock for your portfolio, take into account all information regarding the company and seek professional financial advice.
By partnering with WorkPac, TKF technology takes one step closer to becoming the RegTech solution for companies in the recruitment sector.
TKF’s CEO Kevin Baum, commented that additional announcements on company developments will be made in the coming weeks and months.