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Fortune 500 Company Expands ProntoForms Platform Contract to $1.75M

OTTAWA, Ont. – April 3 2019 – A Fortune 500 company with revenues over $30B has recently expanded deployment of the ProntoForms platform into additional business processes in its North American and European workforces. The initial $1.2M contract which commenced July 1, 2018 with a 39 month term has increased in value to approximately $1.75M, inclusive of $425K new subscription commitments and $150K of incremental professional services.

The deployed platform enables field technicians to quickly and reliably complete complex processes for installation of industrial equipment, fire & safety compliance, and preventative maintenance.

The platform improves fundamental business processes to help the company meet key objectives, including:

  • Improving revenue through increasing the ratio of field quotes approved
  • Higher customer satisfaction through improved service delivery and equipment uptime
  • Increasing cashflow by accelerating work complete documentation and invoicing delivery


Alvaro Pombo, CEO of ProntoForms, explains, “This expanded deployment is another positive sign that our enterprise expansion strategy is working; it also aligns with a trend that leading IT analysts have identified will continue to grow in the coming years. Large enterprises are significantly increasing their investment into low-code mobile app development platforms like ProntoForms to bolster the capability for core systems of record. The ProntoForms platform enables the deployment of specialized apps and workflows to empower field workers to handle very complex tasks reliably, as well as integrate data into core business systems – all without requiring software developers to build or maintain the solution.”


About ProntoForms Corporation

ProntoForms is a leading provider of smart mobile forms for enterprise. The Company’s solution is used to collect and analyze field data with smartphones and tablets – either as a standalone solution or as a mobile front-end to corporate systems of record.

The Company’s 100,000+ subscribers harness the intuitive, secure, and scalable solution to increase productivity, improve quality of service, and mitigate risks. The Company is based in Ottawa, Canada, and trades on the TSXV under the symbol PFM. ProntoForms is the registered trademark of ProntoForms Inc., a wholly owned subsidiary of ProntoForms Corporation.


For additional information, please contact:

Alvaro Pombo
Chief Executive Officer
ProntoForms Corporation
613.599.8288 ext. 1111
apombo@prontoforms.com

Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
416-644-5081
bpedram@virtusadvisory.com

Alvaro Pombo
co-Chief Executive Officer
TrueContext Corporation
613.599.8288 ext. 1111
apombo@truecontext.com

Philip Deck
co-Chief Executive Officer
TrueContext Corporation
416.702.3974
pdeck@truecontext.com

Dave Croucher
Chief Financial Officer
TrueContext Corporation
613.286.9212
dcroucher@truecontext.com


Certain information in this press release may constitute forward-looking information. For example, statements about the Company’s future growth or value, the revenues anticipated to be received by the Company from recent contracts referred to above and anticipated market trends are forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company’s business and value may not grow as anticipated or at all, revenue anticipated from contracts may not be received due to many risks, including factors specific to the customer, and anticipated market trends may not occur or continue. Historical growth levels and results may not be indicative of future growth levels or results. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. There are a number of risk factors that could cause future results to differ materially from those described herein. Please see “Risk Factors Affecting Future Results” in the Company’s annual management discussion and analysis dated March 9, 2022 found at www.sedar.com for a discussion of such factors. ARR is calculated as the annual equivalent of the recurring elements of our contracts with customers that are in effect at the end of the period. It excludes one-time professional service fees and assumes that customers will renew the contractual commitments on a periodic basis as those commitments come up for renewal, unless such renewal is known to be unlikely at period end. Please also refer to the Company’s management discussion and analysis for the year ended December 31, 2022 for a description of how the Company determines and uses ARR. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.