LIMERICK, Ireland, Aug. 5, 2020 /CNW/ - kneat.com, inc. (TSX-V: KSI)
("Kneat") is pleased to announce that it has signed a three-year
master services agreement with a tier one consumer products
company. This agreement may be renewed for additional periods
agreed between the parties.
This global company employs more than 30,000 staff in the
manufacture and distribution of leading consumer brands across
multiple categories from household to health and personal
care. It has selected Kneat's SaaS platform to digitize its
validation processes globally. This agreement, which starts
immediately, allows the customer to deploy Kneat Gx across its
global network to its many sites and multiple work processes,
representing a significant opportunity for expansion of Kneat's
software. Initially the customer will focus on facilities,
utilities and equipment validation in several lead US sites, before
scaling to multiple global sites and work processes.
"We are pleased to be the solution of choice for this leading
consumer products company. Kneat Gx will be utilized to
deliver efficiencies, greater data integrity and a higher
compliance standard for their validation processes worldwide," said
Eddie Ryan, Chief Executive
Officer. "Our growing list of top tier customers are focused
on digitizing their data intensive and regulated business processes
using Kneat's innovative software."
Implementation will begin immediately at the lead US sites with
go-live expected in Q4 2020.
Kneat continues to expand its customer pipeline and will report
on further developments as they occur.
About Kneat
Kneat, a Canadian company with operational headquarters in
Limerick, Ireland, develops and
markets the next generation Kneat Gx software platform.
Multiple business work processes can be configured on the platform
from equipment to computer system validation, through to quality
document management. Kneat's software allows users to author,
review, approve, execute testing online, manage any exceptions and
post approve final deliverables in a controlled FDA 21 CFR Part 11/
Eudralex Annex 11 compliant platform. Macro and micro report
dashboards enable powerful oversight into all systems, projects and
processes globally. Customer case studies are reporting
productivity improvements in excess of 100% and a higher data
integrity and compliance standard. For more information visit
www.kneat.com
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
information" within the meaning of applicable Canadian securities
laws. Such forward-looking information, includes, but is not
limited to, the relationship between Kneat and the customer,
Kneat's business development activities, the use and implementation
timelines of Kneat's software within the customer's validation
processes, the ability and intent of the customer to scale the use
of Kneat's software within the customer's organization and the
compliance of Kneat's platform under regulatory audit and
inspection. While such forward-looking statements are expressed by
Kneat, as stated in this release, in good faith and believed by
Kneat to have a reasonable basis, they are subject to important
risks and uncertainties. As a result of these risks and
uncertainties, the events predicted in these forward-looking
statements may differ materially from actual results or events.
These forward-looking statements are not guarantees of future
performance, given that they involve risks and uncertainties. The
forward-looking information in this press release does not include
a full assessment or reflection of the unprecedented impacts of the
COVID-19 pandemic occurring since the first quarter of 2020 and the
ongoing and developing resulting indirect global and regional
economic impacts. This has resulted in significant economic
uncertainty and even though the company has to date experienced no
significant impact to its operations, any potential impact on our
future is difficult to understand or measure at this time. Kneat
does not undertake any obligation to release publicly revisions to
any forward-looking statement, except as may be required under
applicable securities laws. Investors should not assume that any
lack of update to a previously issued forward-looking statement
constitutes a reaffirmation of that statement. Continued reliance
on forward-looking statements is at an investors' own risk.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE kneat.com, inc.