"What do the recent announcements around the new enterprise workforce platform mean for the TikForce business?"
Andrew, TikForce investor*
The TikForce solution for the enterprise vendor supply chain is an online workforce compliance platform based around position requirements, identity and credential verification for multiple layers of vendors workforce.
With supplier companies required to have their staff verified by their clients our business model includes natural and rapid growth features.
Our Enterprise Vendor Supply Chain is a multi-tiered subscription and transaction model, and income is being generated from multiple sources in the enterprise vendor supply chain including:
TikForce estimates the platform will generate, on average, $200 per year per individual worker.
There is a strong element of “carrot and stick” in the enterprise vendor supply chain, whereby supplier businesses and individual workers will be required to sign up to the TikForce platform in order to commence or continue to work for a peak enterprise (the “stick”).
But the “carrot”? TikForce’s enterprise vendor supply chain platform delivers enormous growth potential for our supplier businesses as well with improved compliance, risk management and market differentiation.
Consider this example;
Initial enterprise and their suppliers and the workers who provide services. e.g. 5000 workers
Growing to wider supplier workforce can easily triple the return.
The opportunity for TikForce to deliver identity and credential verifications for these workers is huge. Over time, TikForce will target supplier businesses already on our platform to consider the benefits of having all of their workers verified:
The sheer number of potential workers in our system will help to increase the knowledge of, and demonstrated benefits of, the TikForce platform throughout industries. And with supporting assets such as certificates of verifications, photo ID cards, and at-gate security systems, demand for inclusion or more information about the platform should increase.
However, we will also use targeted email and SMS communications directed towards existing TikForce clients to up-sell the platform’s features, and to encourage increased use of the platform.
And our Sales team will explore business development opportunities with other peak enterprises (major projects, large organisations) who can utilise the many benefits of the TikForce platform. We are essentially building compliance pools of verified workers, many of which have the potential to overlap across peak enterprises.
*Andrew is a representation of a TikForce client
"It is impossible for me to be sure which of the people that come on our site have completed our safety induction."
"I need a police check for the job I am applying for."
"We really don't know who the individuals are who come on site from our suppliers."
"The time it takes me to do the background checking for a potential recruit is too long."
"It is highly likely that we have workers on site who are not compliant. This exposes our company to significant legal risk."
* These people are a representation of a TikForce client
“Pre-qualifying candidates well in advance of the selection process really is a game changer in the recruitment industry, and TikForce has delivered a very 'simple to use' system for our staff and the individual candidates.”
"After a review of the platform it became clear that TikForce's low cost and innovative model prove invaluable to both our local and international recruitment clients."
“Our team analysed and researched the various identification and verification platforms globally and it became apparent, early on, that the Tik.me platform will enhance our reputation.”
"It’s been a nagging criticism of the eLearning market place that employers may not be able to verify 100% who actually completed the lessons, and now Velpic can lead the industry with this innovative solution."
"The TikRide platform will provide Zeffer with a seamless and efficient management solution, which will relieve us of an enormous manual administrative process."
"The agreement with TikForce allows us to provide insurance at a competitive price point benefitting from the ability to reduce a number of the risks that are normally built into a standard insurance policy premium.”
"The partnership with TikForce will enable SHR to deploy more efficient HR management solutions, while helping to reduce our clients’ operating costs."
“A completely verifiable end-to-end training, testing, assessment and certification environment is now a reality.”