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12.05.2010 Service Point Solutions, S.A. (stock market ticker: SPS.MC) has renewed its services contract with the Adecco Group companies for another year. The renewed contract again covers all the HR solutions company's digital reprographics and printing needs, including management of logistics throughout its Spanish offices. The companies' business relationship dates back to 2008. With this renewal, Adecco has reaffirmed its satisfaction with Service Point's services and capabilities. Since the companies began working together, Service Point has developed a web application tailored to the needs of each division with the goal of tightening the customer bond. These improvements have enabled Adecco to become more effective, reduce costs and incidents and, in short, enhance its service standards. Year-to-date, Service Point is running a very high contract renewal rate, at over 95%. This renewal comes on the heels of those recently announced in the UK for an aggregate of over 6 million Euro in 1Q10. On average Service Point renews its contracts for a period ranging from 2 to 5 years. It is worth highlighting that on average the companies that renewed their agreements during the first quarter have been working with Service Point Solutions since 2002, demonstrating the level of customer satisfaction achieved. According to Anthony Foley, Executive Managing Director of Service Point "the renewal of existing customer contracts locks in around 50% of revenue short to medium term. The high renewal rate evidences how engaged Service Point is with its customers".
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