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DealNet's BPO unit lands $10 mln, 5-year contract to support Fortune 500

DealNet's BPO unit lands $10 mln, 5-year contract to support Fortune 500

DealNet Capital Corp. (CNSX:DLS) announced Tuesday that its business process outsourcing (BPO) subsidiary, OC Communications Group (OCCGI), has been awarded a five-year contract with a major global loyalty platform provider to support what it calls a U.S.-based Fortune 500 financial services customer. 

Scheduled to launch in September 2013, the program under which OCCGI will provide inbound customer service in English and Spanish from its Reno, Nevada location, will roll out to four million customers and is expected to yield upwards of $10 million in revenue over the five-year term. 

"There was little question as to whether we were the right choice for the program given OCCGI has successfully worked with both the loyalty platform provider and the financial institution in the past," said COO of DealNet Capital Corp., and president and CEO of OCCGI, Michael Hilmer, in a statement released Tuesday.

"Over the course of the past 18 months OCCGI has worked with all parties associated with the program to ensure an efficient design and favourable outcome for the credit card holders being migrated from the old platform, and we are delighted to announce that we are at 100 per cent readiness with customer service representatives undergoing extensive training for the September 2013 launch."

DealNet Capital Corp. has recently focused its efforts towards the thriving North American BPO market, as well as the consumer financing market by leveraging its recently acquired BPO division.

Earlier in August, DealNet announced a three-year contract to provide technical and customer service support to what it calls a North American digital home entertainment services organization. That agreement is projected to yield a minimum of $1.6 million in revenue, according to the Toronto based company, with the client’s forecast driving that number as high as $3 million. Implementation is to begin this month, with full deployment expected in January of next year. 

Shares of DealNet, a merchant banking company focused on recurring revenue businesses, were trading up the day of the news, adding half a penny to reach 15.5 cents per share. The company, which also entered the heating, ventilation and air conditioning (HVAC) market last year, is working to leverage its BPO unit to provide a better customer experience for its One Dealer subsidiary, which offers financing and other services to HVAC dealers and their customers. 

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