TikForce strengthens HR consultancy ties and broadens technology offering
Only a week after the launch of the important TikRide product, TikForce (ASX: TKF) has negotiated two new agreements that position it well strategically across the HR management and digital identification industries.
Reflecting on last week, TKF’s shares spiked more than 10% under very high volumes, suggesting that retail investors are starting to view the stock as a news driven story as the company delivers on its promise of forging relationships across a wide range of industries reliant on credible identification practices.
Along with last week’s developments, in the last two months alone, TKF has entered into a Heads of Agreement with global e-learning company Mediasphere, signed a Memorandum of Understanding with WorkPac (Australia’s largest privately owned provider of human capital to the resources, construction and healthcare sectors) and signed a binding heads of agreement with Davidson Group, one of Australia’s leading national HR providers.
Today’s developments could stimulate further interest given the agreement with leading HR consultancy firm, Strategic Human Resources (SHR), is particularly significant in terms of meeting the group’s long-term goals.
However, prospective investors should note that previous trading patterns may not be replicated and should not be used as the basis for an investment decision.
SHR agreement closely aligned with management’s long-term strategy
When Managing Director, Kevin Baum, originally discussed the group’s strategy with FinFeed some months ago he highlighted the mutual benefits that could be gained by teaming up with HR enterprises that provide outsourced staffing solutions.
This is an area where credible employee identification is critical. However, where employment agencies have numerous clients on their books the identification process can be challenging.
Consequently, the signing of a Heads of Agreement with SHR that draws on TKF’s HR database and validation platforms to assist in human resources and employee relations management provides a win-win situation, and from TKF’s perspective is a strong validation of both the calibre of its product and its relevance in the HR industry.
Importantly, SHR’s client base includes overseas countries in the Asia-Pacific region, as well as Australia. The company counts blue-chip companies such as French telecommunications group Alcatel-Lucent, Australia’s largest rail freight operator, Aurizon and Western Australian State energy provider Western Power as clients.
As highlighted SHR’s Chief Executive, Steve Rayner, TKF’s product offering provides a number of advantages, increasing efficiencies in HR deployment management solutions, as well as reducing client’s operating costs.