Cloud collaboration platform provider to the construction industry, Aconex Limited (ASX: ACX), has signed an enterprise agreement with Bechtel, one of the world’s largest engineering, project management and construction (EPC) firms.
The three-year agreement will standardise the use of Aconex across all Bechtel business units globally in a phased implementation.
Under the agreement, new projects will be implemented on the Aconex platform as part of a multi-year plan to replace Bechtel’s internal document and record management system with project-wide collaboration. The terms of the agreement are user-based, providing flexibility for Bechtel to add an unlimited number of platform users to its projects over time.
Aconex plans to invest in the Bechtel corporate relationship with the addition of product functionality that it believes will benefit all Aconex customers and users worldwide. This investment is expected to moderately increase Aconex operating costs for research and development in the next 12 months.
Over the medium term of 1-3 years, Aconex will also invest in sales and marketing with the addition of account resources in its international regions to drive long-term growth within and beyond the Bechtel project network.
“This enterprise agreement reflects our growing relationship with Bechtel across a range of global projects,” Aconex CEO, Leigh Jasper, said. “The world’s leading EPCs and contractors are increasingly trusting the Aconex platform to manage their largest and most complex developments. The network effects of Bechtel’s project partnerships and industry influence are helping us drive new business in multiple regions.
"The conversion of individual project engagements to enterprise agreements with Bechtel and other EPCs solidifies our relationships while expanding our market penetration and global user network. We look forward to serving increasing numbers of Bechtel projects worldwide under the new agreement.”