The first day of trading by IODM (ASX:IOD) after a reverse takeover of Paradigm Metals, followed the completion of a successful capital raise of $3.06 million though the issue of 76.5 million new shares at $0.04 per share.
IODM, headquartered in Melbourne, is a cloud-based software platform that fully automates the debtor management cycle to help organisations get paid quicker and boost cash flow. The company provides business and government sector organisations with an automated receivables and collection management tool that interfaces with any accounting package.
IODM founder and managing director, Damian Arena, says the company has already commenced discussions on international distribution opportunities with global Software-as-a-Service (SAAS) platforms.
“IODM is now in a position to accelerate the rollout of our software through an aggressive sales and marketing program. And not just direct sales, but importantly our relationship management resources that will leverage strategic alliances with corporate clients including NAB, PwC and NCI.
“We believe there is significant market potential to empower small to medium-sized businesses with an automated accounts receivable management tool. Our software addresses a fundamental business problem regardless of sector size: velocity to cash.”