If you're interested in small cap tech shares then you're in luck because there are a good number trading on the Australian share market right now which I think have a lot of potential.
Three which I think would be worth keeping a very close eye on in 2020 are listed below. Here's why:
Alcidion Group Ltd (ASX: ALC)
Alcidion is an informatics solutions provider which I think is well worth watching closely. In FY 2019 Alcidion delivered a 33% increase in revenue to $16.9 million thanks to increasing demand for its healthcare analytics software. This software has been designed to improve the efficacy and cost of delivering services to patients and reduces hospital-acquired complications. I continue to believe that the company is well-positioned for growth thanks to the growing trend for healthcare organisations to shift to a paperless environment.
Bigtincan Holdings Ltd (ASX: BTH)
Bigtincan is a fast-growing provider of enterprise mobility software. This software allows sales and service organisations to increase their sales win rates, reduce expenditures, and improve customer satisfaction through improved mobile worker productivity. It was a strong performer in FY 2019, growing revenue by 51% to $19.9 million. Pleasingly, I expect similarly strong growth from the company this year, especially given the increasing demand for its software. One new customer of note is sports giant Nike, which signed a three-year deal with the company this month.
Whispir (ASX: WSP)
Whispir is a recently listed software-as-a-service communications workflow platform provider. In FY 2019 the company outperformed its IPO forecasts with revenue up 12% to $31.1 million and a better than expected loss of $13.3 million. A key driver of this growth was the performance of its US business. Thanks to a growing number of customers using its platform such as Disney, revenue grew 24% in the key market. This was supported by a strong performance from its Asia business. Pleasingly, management is confident on its outlook for FY 2020 and more growth is expected.
