DATAWORKS GROUP LIMITED — Regulatory Filings 2021

Apr 13, 2021

14 April 2021

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IXUP achieves SOC 2 compliance, accelerating commercialisation initiatives

Investment highlights:

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• IXUP Limited achieves the prestigious System and Organisation Controls 2 (SOC 2) designation after passing an extensive product and systems audit for its privacy-preserving data analytics platform

• SOC 2 designation adds valuable market confidence in IXUP’s technology, demonstrates best practice and accelerates commercialisation opportunities

• SOC 2 provides cloud software (SaaS) businesses with a definitive set of auditable criteria for managing customer data which is fast becoming the global standard for participation in major international markets

• SOC 2 adds further momentum to progressing IXUP’s partnership with UK-based DataPOWA Limited (DataPOWA) and associated opportunities with DataPOWA’s international customers

• • IXUP authorised to use the AICPA SOC compliance logo

IXUP Limited (‘IXUP’ or ‘the Company’) is pleased to announce that it has achieved the prestigious System and Organisation Controls 2 (SOC 2) compliance designation for its core database collaboration software. This compliance certification complements IXUP’s existing ISO 27001 accreditation and presents strong independent confirmation that IXUP’s core software-based platform and the associated underpinning processes are of a high standard and reflect global best practice.

SOC 2 supports IXUP’s commercialisation initiatives

Obtaining a SOC 2 compliance designation adds valuable momentum to IXUP’s commercialisation efforts, particularly when considering entering large international markets like the United States of America (USA), where SOC 2 is regarded as a pre-requisite for SaaS.

SOC 2 is a comprehensive auditing and reporting framework developed by the American Institute of Certified Public Accountants (AICPA) which defines, for cloud software (SaaS) providers, a set of criteria for managing customer data based on five Trust Service Principles: Security, Availability, Processing integrity Confidentiality, and Privacy.

Each SOC 2 compliance program and associated audit process, is tailored specifically to suit the operations of the software company seeking such compliance. In this regard, the key applicable Trust Service Principles relevant to IXUP’s software system upon which it was assessed and audited were, ‘Security’, ‘Confidentiality’ and ‘Privacy’.

SOC 2 compliance will immediately improve customer and business partner confidence in the IXUP software solution due to the demonstration of the Company’s commitment to proactively addressing data security, confidentiality and privacy risks and further strengthens the compliance framework already established through IXUP’s ISO 27001 accreditation. The process to achieve this compliance milestone took IXUP approximately 12 months.

SOC 2 compliance expected to accelerate DataPOWA collaboration

In parallel, IXUP continues to progress its recently announced collaboration agreement with UK-based DataPOWA to pursue data analytics and marketing opportunities within the global digital sports rights, marketing and sports sponsorship data sectors as well as the digital sports gaming and wagering vertical. It is expected that IXUP’s SOC 2 compliance designation will accelerate current opportunities being explored within international markets which have opened up through this collaboration.

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IXUP and DataPOWA have been working on a joint technology offering by upgrading and enabling DataPOWA’s software platform (‘the POWA Index’) with IXUP’s core database encryption functionality and capability. This joint offering, now known as POWA Index 2.0, introduces the potential for the collaboration of first-party data with the POWA Index data. The POWA Index traditionally only relied on third-party data sources. The application of clients’ first-party data, only enabled through the application of IXUP’s core functionality, overlays a significant enrichment of the data output and greatly increases the potential commercial value of the ensuing outputs. A video describing and demonstrating this new enhanced collaborative product ‘POWA Index 2.0’, is viewable on IXUP’s website via https://ixup.com/

Unlocking the potential of IXUP’s unique technology

POWA Index 2.0 is an example of IXUP’s partnering strategy that can further enable and enhance thirdparty data analytics platforms and processors capabilities which provide them with a unique competitive market advantage and a valuable and differentiated product offering. At the same time, this provides IXUP with a fast and effective pathway to market for its technology and access to existing customers and demand, a true win-win partnership strategy that can be executed relatively quickly.

IXUP’s unique technology solution enables the collaboration of disparate databases in a truly secure environment, unlocking value through the introduction of an additional, potentially global, comprehensive first-party demographic data source. This provides significant further enrichment of the customer’s own first-party data source and is intended to be bundled in with the DataPOWA’s offering to create POWA Index 2.0. The combination of these previously disparate datasets, through collaboration in a secure, encrypted environment, is attracting significant interest from sporting-related customers who are seeking enriched co-marketing data for greater fan engagement and economic opportunities.

POWA Index 2.0 is a unique product offering that IXUP can potentially replicate in other industry verticals outside of DataPOWA’s core sports rights marketing focus. The Company is already exploring additional verticals including the digital global gaming and wagering markets, which are strongly aligned with, and adjacent to, the digital sports rights sector.

At present, these commercialisation efforts remain early stage and are subject to significant uncertainty. IXUP looks forward to providing additional information to shareholders as these commercialisation opportunities progress.

IXUP CEO Marcus Gracey said : “Achieving SOC 2 compliance is a significant milestone on IXUP’s journey to international commercialisation of its secure data collaboration platform and is an important prerequisite for entering major markets like the USA. The timing of this achievement aligns with the acceleration of our collaboration initiatives with DataPOWA and we are very pleased with the early market reception and interest expressed in our POWA Index 2.0 product collaboration, including from potential customers in the USA. We remain confident and clear that our partnering strategy with DataPOWA will serve as a valuable and effective pathway to market for IXUP’s core technology. I am also extremely grateful to our staff who worked tirelessly during the past 12 months to support and facilitate the successful completion of this valuable, important and timely process.”

Ends

This ASX Announcement has been authorised by the Board of IXUP Limited.

For further information, please contact;

IXUP	Investor relations
Marcus Gracey	Julia Maguire
CEO – IXUP Limited	Executive Director – The Capital Network
contact@ixup.com	julia@thecapitalnetwork.com.au
	+61 02 8999 3699

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About IXUP

IXUP Limited (ASX:IXU) (pronounced ‘eyes up’) is an innovative technology company currently focused on collaborative and secure data analytics.

IXUP provides a secure software environment that enables data to be processed without being exposed, making collaborative analytics for sensitive data possible. Using IXUP’s platform, enterprises and governments can create value from data while it remains fully encrypted and in control.

To learn more please visit: www.ixup.com

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