1Spatial, a provider of Location Master Data Management (LMDM) software and solutions, has secured the first two contracts for its newly launched Traffic Management Plan Automation (TMPA) solution under the 1Streetworks brand in the UK. The first contract is with a major utility network operator and the second is with a large traffic management organisation. Both contracts are for a three-month term, with the intention to move to annual or multi-year contracts upon successful completion of the initial period.
Launched in November 2022, 1Streetworks automates the production of traffic management plans, diversion routing and asset inventory lists in the UK. Depending on complexity, current levels of investment in plan production range from several hours to multiple days. 1Streetworks produces a comprehensive, site-specific traffic management plan in just a few minutes. It significantly shortens the time, effort, and cost it takes for organisations to produce traffic management plans that are both consistent and compliant.
1Streetworks is an example of 1Spatial’s move into offering pure SaaS-based solutions via its newly launched cloud platform, as part of the Company’s strategy to increase its high margin, highly scalable recurring software revenue.
With an estimated addressable market in the UK low-speed roads alone of £250m and no comparable offering in the market, the opportunity for 1Streetworks has the potential to be transformational for 1Spatial.
Commenting on the contract awards, 1Spatial CEO, Claire Milverton, said, “Through our cloud platform, we are adding a new layer of potential growth for the Group, targeting a niche area of the location market where we have identified significant demand and low levels of competition.”
