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IODM Rein In Receivables ASX Announcement 29 October 2021 IODM 1Q Quarterly Activities Report and Appendix 4C Key highlights Achieved quarterly cash receipts of A $ 198k Continued signing of university clients in the UK with WUBS . Established a sales function in Dubai • Implemented a transactional revenue to the strategy Rollout in to the North American Education sector brought forward 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 30 September 2021 ( " 1Q FY22 " ) . During the quarter , IODM received cash receipts from clients of A $ 198k , down 12 % on the 1QFY21 . This was solely due to the company being impacted from the prolonged lockdown on the East Coast of Australia and its inability to implement new clients . The Implementation Revenue forecast is in excess of $ 115,000 and is expected to resume to normal functionality in December . During the prolonged lockdown , the company took the opportunity to reposition its domestic resources to assist in its international operations growth , including the onboarding of international clients in the overseas regions where the company was seeing significant demand due to these regions not been locked down . As previously disclosed , the company signed further Education clients in the UK through its partnership with WUBS . The company also repositioned key staff members in Australia to aid the added workload it has seen through the presentation process in commercialising and onboarding this opportunity . The company believes it will continue to sign UK universities during the current quarter and beyond at an accelerated pace . As a result of the quick success the company has experienced in the Education space in the UK , it was decided to bring forward the introduction of the offering to the US and Canada from 3Q FY22 to 2Q FY22 and that process has commenced with the WUBS education team in North America . It is the company's intention to start promoting the offering to the healthcare sector in the US with WUBS alongside this expansion . The company is confident of North American signings in the 2Q FY22 , based on the pattern we have seen in the UK to date . During the quarter , because of its efforts to date in the UK , the company has seen significant growth in its brand awareness in the Middle East . Consequently the company has employed a Head of Sales in Dubai and it intends to use this as a base to expand through the Middle East . The company is in commercial discussions with several large Multi - national groups that base their finance teams in Dubai and surrounding regions . These companies are looking for a global AR solution and it is envisaged that revenue model in this instance would be a global licensing fee , as opposed to doing a subscription based model on a regional basis .