International Strategic Agreement with InEight

Felix   |   February 9, 2022

Felix Group Holdings Ltd (ASX: FLX) (“Felix” or the “Company”) is pleased to announce it has signed a strategic agreement with InEight Inc. (“InEight”), an US-based global construction management software company.

The agreement will leverage the connected solution between Felix and InEight’s software platforms, creating a more comprehensive management solution for Contractors. Felix will benefit from enhanced market access, with InEight providing referrals to its existing base of customers. In addition, the parties will work together to jointly pursue new business opportunities in international markets. Each party will separately agree to contracts with customers and referrals. The agreement follows Felix and InEight collaborating on joint opportunities with Australian Contractors.

Felix’s Co-Founder and CEO, Mike Davis commented:

“We are extremely excited to announce this significant agreement with InEight, which has been many months in the making. This collaboration is a great endorsement of our technology and platform and will allow us to scale efficiently into international markets, without the need for any significant setup or modifications to the platform. We would like to thank our shareholders for their ongoing support as we continue to deliver on our long-term growth strategy.”

InEight is a leading construction project management software company with solutions spanning planning, project cost management, safety, field execution, analytics, document management, capital management and virtual design to a global customer base. Their platform has over 400,000 users and has been deployed on over US$400bn worth of construction projects around the world.

The collaboration complements Felix’s fast growing direct sales activities across Australia and New Zealand, while providing an opportunity to rapidly scale Felix’s domestic and international market penetration. Felix’s unique procurement offering is highly complementary to InEight’s existing integrated platform covering the project planning, construction and turnover phases. Further, Felix’s platform deepens InEight’s project management capabilities and is expected to enhance the joint value proposition of both companies in bidding pursuits to large Contractors.

The agreement is Felix’s first international collaboration, demonstrating the global relevance of Felix’s solutions globally, while significantly enhancing the Company’s local and international profile. While Felix’s key focus is on converting its significant pipeline of opportunities in ANZ, the agreement provides a de-risked and capital-light entry into international markets.

InEight’s CEO, Jake Macholtz commented:

“This is a strategic agreement for InEight, deepening our offering with new procurement management capabilities that are beneficial to our customers and the depth of industries that we serve globally. We have already identified a number of customers where our joint value proposition is highly relevant in the Australian market. We are excited to work with the Felix team and look forward to collaborations to grow our base of customers.”

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About InEight

InEight provides field-tested project management software for the owners, contractors, engineers and architects who are building the world around us. Over 400,000 users and more than 850 customers worldwide rely on InEight for real-time insights that help manage risk and keep projects on schedule and under budget across the entire life cycle. From pre-planning to design, from estimating to scheduling, and from field execution to turnover, InEight has powered more than $400 billion in projects globally across infrastructure, public sector, energy and power, oil, gas and chemical, mining, and commercial. For more information, follow InEight on LinkedIn or visit InEight.com.

Felix
Felix operates a cloud-based enterprise Software as a Service (SaaS) and marketplace platform for the commercial construction and related industries. Felix connects Contractors and their third-party Vendors, automating and streamlining a range of critical procurement-related business processes.
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Felix gains ISO certification marking compliance with international data security standards

Leading Australian enterprise technology company Felix Group Holdings (ASX: FLX) today announced it has achieved International Organisation for Standardisation (ISO) 27001:2013 Certification, the world's premier standard in information security, for its enterprise marketplace platform.  

Felix now meets an internationally recognised standard for its information security management system (ISMS) enabling the company to assure current and future customers of its commitment to data security and privacy through the systematic approach of accreditation, which it believes will provide a strong, competitive advantage in the market by streamlining sales cycles.   

Felix Chief Technology Officer Steve O’Keeffe said the certification specifies the requirements to establish, implement, maintain, and continually improve an ISMS, and assures the company’s use of robust data security controls in its operations.

“Achieving ISO 27001 certification aligns Felix with globally recognised best practice in terms of data security, and demonstrates the company’s commitment to a secure and trusted marketplace for industry participants,” he said. 

The ISO certification positions the company to meet the rising expectations and standards for data privacy in an increasingly tightening legislative environment, he added.  

“For Felix customers, certification means they can expect ongoing management of information security risks that could otherwise affect the confidentiality, integrity, and availability of corporate and personal information. Implemented controls include security-by-design product development, vulnerability management, encryption, business continuity and disaster recovery plans,” Mr O’Keeffe said.  

 Felix achieved certification after recently launching its best-practice prequalification framework, Vendor Optiqual®, which reduces the time and effort it takes to prequalify third-party vendors, enabling projects to commence sooner and with tighter supply chain risk management. Felix’s reported 66 per cent year-on-year growth in its vendor marketplace as at 30 April 2021 indicates the significant increase in customer data being housed in its enterprise platform.   

The ISO certification was granted after the completion of a series of formal audits performed by global inspection, verification and testing organisation, British Standards Institution (BSI) Group. Throughout the audit, BSI performed rigorous checks to verify Felix’s global security, risk, and management operations met the requirements set out by the ISO.   

Core to this was evaluating how Felix protects its technology infrastructure, development, operations, and services, explained Felix’s Head of Project Delivery and Chair of Felix’s Information Security Committee, Tony Chan.  

 “Achieving the ISO 27001 certification is another step in our ongoing security efforts, which always represents a priority for us at Felix. We remain focused on leading our industry by continually investing, improving, and upholding our commitments to protect the information of our clients and community,” Mr Chan said.  

logo-felix-bluefelix iso 27001 number

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About Felix

Felix operates a cloud-based enterprise Software as a Service (SaaS) and marketplace platform for the commercial construction and related industries. Felix connects Contractors and their third-party Vendors, automating and streamlining a range of critical procurement-related business processes.

Members of the media can direct questions about the Felix ISO 27001 certification to sophie.frayne@outlook.com or by phoning 0413305248.  

The official ISO certification can be viewed via the BSI Certification Directory website 

For more information on Vendor Optiqual®, click here.