DealNet Capital Corp. (CNSX:DLS) has said that its business process outsourcing (NYSE:BPO) subsidiary, OC Communications Group, has secured a contract extension with what it calls a major Ontario public service association.
The BPO unit has already been servicing the contact centre needs of the client's membership base, which includes heating, ventilation and air conditioning (HVAC) companies, elevator installation and operations, gas handling and various other trade industries, for more than three years. According to DealNet's statement, the unit has been "instrumental in providing significant improvements to the client's member support process", and as a result, the client has exercised its option to extend the initial term of the agreement for another year, with the deal to expire on June 30, 2014. The BPO unit will look to explore opportunities with the Ontario client to expand its services and support.
DealNet, which entered the HVAC market last year, is working to leverage its BPO unit to provide a better customer experience for its One Dealer subsidiary, which offers financing and other services to HVAC dealers and their customers.
"We are very pleased with our progress to date servicing the needs of such a visible and highly regulated space," said COO of DealNet, and president and CEO of the BPO unit, Michael Hilmer, in a statement Wednesday.
"We look forward to continuing to build on this established relationship working with the client to expand the scope of services that we provide."
Last week, DealNet said that OC Communications Group was awarded a new program with what it called a "growing Canadian payments processor". Under the new program, the BPO subsidiary will be providing customer acquisition services in a business-to-business environment, offering opportunity sourcing and account adjudication services, for an initial term of three years.
Shares of DealNet, a merchant banking company focused on recurring revenue businesses, having recently geared its investments toward the business process outsourcing and consumer financing markets, were flat at 16.5 cents on Wednesday.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.