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ASX Announcement 30 April 2021 IODM 3Q Quarterly Activities Report and Appendix 4C Key highlights IODM Rein In Receivables • Achieved quarterly cash receipts of A $ 224k , a 34 % increase on pcp Launched new IODM Connect platform and began migration of clients Appointment of additional Sales and Marketing staff • • Contracted lateral revenue streams WUBS Partnership focus on the Education and Health sectors globally in the short term . Launched the WUBS partnership in North America ( USA & Canada ) IODM Limited ( ASX : IOD , “ IODM " or " the Company " ) , a cloud - based software solution that revolutionises business cash flow management is pleased to release its Quarterly Activities Report and Appendix 4C Quarterly Cash Flow Report for the period ended 31 March 2021 ( " 3Q FY21 " ) . During the quarter , IODM received cash receipts from clients of A $ 224k , up 34 % on the prior corresponding period ( pcp ) . As expected , Implementation Revenue only contributed ~ $ 20k and is expected to ramp up in the 4th quarter while investment has been made in both Sales and Account Implementation which will aid the commercialisation of new clients . During the quarter , the company successfully launched its new IODM connect platform and began the process of migrating all clients across to the new updated platform . The new platform has been some eighteen months in the making and the feedback from clients migrated to date has been extremely positive . All new clients will be onboarded to the new platform . The company has continued to expand its domestic workforce which is having a positive outcome on the number of leads generated . This expansion coincided with the appointment of Isaac Smith as Director of Sales & Marketing effective 1 January 2021. Isaac has a 25 - year career in sales and marketing , including significant long term roles with REA , GSK and Optus both in Australia and overseas and is well placed to lead our sales team and deliver on our global sales strategy . This allows the company to forecast a greater than $ 300k event in cash receipts for the June quarter across not only the traditional business but also our first recognition of the finance vertical of our business underpinning that we are a working cap solutions business . Whilst the WUBS partnership has commenced marketing to existing clients of WUBS and new opportunities across all industry verticals , the partnership is paying particular focus to both existing Education and Health clients of Western Union as well as new opportunities in these sectors . Market feedback is clear that the WUBS / IODM proposition can add considerable value to these two verticals . It is expected that the company will apply a different revenue model to these verticals , details of which the company will make available when finalised . As announced to the market on 10 March 2021 , the company has now extended its partnership with Western Union to include North America , ( USA & Canada ) . The potential of