RocketBoots extends partnership with major Australian retailer

RocketBoots Limited (ASX:ROC) has announced the renewal of its software-as-a-service (SaaS) contract with a major Australian retailer, marking the continuation of a seven-year partnership. The agreement, valued at AUD 339,000 annually, reflects a 5% increase from the previous term and underscores the company’s expanding influence in retail technology.

The new one-year contract retains flexibility, allowing for extensions in annual increments. Notably, while either party can terminate the agreement, the prepayment of the contract remains non-refundable. This strategic renewal supports RocketBoots’ momentum in global retail and banking markets, emphasising the integration of its AI-driven loss prevention and performance-enhancement software.

Key benefits for Australian retailers

RocketBoots’ collaboration with the retailer demonstrates significant operational improvements. Its AI-powered software not only optimises checkout systems but also reduces theft, a growing concern in the retail sector. Chief Executive Joel Rappolt emphasised the software’s ability to provide measurable returns on investment, citing the importance of cost-saving solutions amidst rising incidents of theft impacting profitability.

Over the past seven years, RocketBoots has seamlessly integrated its systems into the retailer’s operations, helping to enhance efficiency, productivity, and customer service. By aligning its technology with the client’s broader infrastructure, the company has ensured scalability and adaptability for future needs.

A global ambition

While RocketBoots strengthens its foothold in Australia, it also aims to capture a share of the multi-billion-dollar retail and banking markets worldwide. According to Rappolt, the company is in “advanced discussions with several international enterprise clients,” which signals potential new contracts and expansions in the near future.

The success of its proprietary AI software lies in its ability to address critical challenges for retailers and banks alike. From reducing operational expenditure to improving sales and loyalty, RocketBoots delivers actionable insights using cloud computing and AI. Its core offerings, such as adaptive loss prevention and checkout management, cater to modern demands for efficient and secure retail operations.

Expert insights

Industry analysts note that RocketBoots’ continued contract renewals indicate strong client satisfaction and trust in its solutions. The modest contract value increase reflects the broader trend of rising investment in retail technology to combat theft and streamline operations. Furthermore, the company’s emphasis on a data-driven approach positions it as a frontrunner in performance improvement technologies.

A promising trajectory

RocketBoots’ strategic focus on scaling its operations internationally could unlock significant opportunities in key markets. With retail theft rising globally and retailers under pressure to enhance in-store efficiency, the demand for advanced AI solutions is set to grow.

As RocketBoots continues to develop its pipeline, its progress will be closely watched by investors eager to see how the company navigates the competitive landscape of AI-driven retail technologies.