I think the Australian share market is home to quite a number of promising tech shares that investors should be keeping a close eye on.
Here are three which I am looking closely at today:
Bravura Solutions Ltd (ASX: BVS)
This fintech company could be a good option for investors thanks largely to its popular wealth management software product Sonata. Demand for Sonata has been growing so strongly that it now accounts for 55% of the company's total revenue. Furthermore, this demand recently led to management upgrading its full-year underlying earnings per share growth guidance to the high-teens. I think its shares are good value based on its current growth profile.
ELMO Software Ltd (ASX: ELO)
This provider of cloud-based talent management software solutions hasn't been listed on the ASX for that long, but it certainly has been making waves since its listing. Growing demand for its software solutions has led the company to outperform expectations and crush its prospectus forecasts. This was the case when it released its half-year results recently and led to management upgrading its full-year guidance. While I think it is starting to look close to fully valued, I think ELMO could still be a great long-term buy and hold option.
Volpara Health Technologies Ltd (ASX: VHT)
This small cap healthcare technology company is one which I think could have enormous potential. Volpara provides an increasingly popular piece of technology which allows personalised, high-quality breast cancer screening based on automated, objective measurements of breast density, compression and radiation dose. It is still early days but I have been impressed at the revenues that the company has started to generate. At present management believes it is on course to exceed its target of 200% growth in annual recurring revenues in FY 2018.
