Iodm : Formation of Advisory Board

ASX Release 10 August 2016

IODM announces new Advisory Board

• Advisory Board to guide structured approach to growth in key sectors
• First appointments bring Xero and Wilson Security experience
• Substantial knowledge of end user debtor management requirements
• News coincides with appointment of national sales operations manager

IODM Ltd (ASX: IOD; "IODM" or "the Company") today announced the formation of an Advisory Board that will complement the company's executive to provide industry insights to optimise penetration into, and engagement with, key market sectors.

Announcing the first two appointments, CEO Damian Arena said the Advisory Board was established to provide further expertise to ensure structured, sustainable growth and a vast network in target verticals including accounting, credit management and large corporates.

The appointments include former country manager for multinational accounting software company Xero Wayne Schmidt, and Narelle Cirillo, group credit manager at national security specialist Wilson Security.

"Wayne Schmidt brings almost three decades of national and international experience in the accounting industry to the Advisory Board," Mr Arena said.

"As country manager for Xero, in 2009 he launched the accounting software brand in Australia, and has also held several management roles at MYOB.

"Wayne is a giant in the accounting software market with unrivalled experience in marketing and growing cloud-based accounting technology businesses. His knowledge and connections in the accounting industry are arguably unmatched.

"We are also excited to commence working with Narelle Cirillo, as her substantial experience in credit management for a national organisation like Wilson Security and industry connections will be invaluable.

"Narelle has an intimate understanding of our target market, bringing a corporate end-user perspective and a genuine passion for the value our technology provides credit managers and financial controllers in helping them do their jobs faster and better.

Mr Arena said further Advisory Board appointments with expertise in other key sectors would be announced over the next 12 months.

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He also announced the first of IODM's key sales appointments to boost the company's sales and marketing capability. Simone Dolista joins the company as national sales operations manager, with significant sales, analytics and account management experience with software providers.

Advisory Board Biographies Wayne Schmidt: Currently a practice advisor for, and investor in, Karbon Inc, which provides task and workflow management software for accountants, Wayne has more than 28 years' experience in the accounting industry.

From 2009 to 2011 he was country manager for Xero, launching the brand in Australia before moving into the role of national sales manager. Prior to Xero he held various senior roles at MYOB for five years including partnership relationship manager, marketing manager and general manager of UK operations.

Narelle Cirillo: Currently group credit manager at Wilson Security, Narelle has 14 years' experience in the credit management industry, with a demonstrated ability to deliver on goals, increase efficiencies and maintain quality.

With strong leadership and change management experience, she has also project managed complex credit restructures/offshoring and system implementations.

Prior to her role at Wilson, Narelle was national credit manager at Pacific Brands, as well as group credit manager at building materials company GWA Group, national credit manager at John Danks & Son, assistant credit manager at Shell Australia for more than six years and national credit manager at Shell New Zealand for two years.

--Ends--

Investor inquiries: Media inquiries:

Damian Arena Sally Locke

Managing Director, IODM Amplify Communications

0419 106 176 0413 584 323

[e-mail]

About IODM

IODM is a software platform that fully automates the debtor management process to get cash off the balance sheet and into the bank account, drastically improving velocity to cash flow. Through a single monthly fee, what normally takes hours to manage now only takes minutes, giving businesses control of all the parameters of the accounts receivable cycle. IODM interfaces with key accounting packages, and has 40+ partners across Australia. IODM is headquartered in Melbourne.