Monday, 11 July 2016 23:50

IODM hits the ASX board ready for ‘aggressive’ market push

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Software platform company, IODM, debuted on the ASX on Monday as it prepares for what it says is an "aggressive" strategy for significantly increasing sales and marketing capabilities in the Australian market.

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.

Arena says IODM is now structured to significantly increase its sales and marketing capabilities and is well positioned to accelerate growth.

“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.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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