If you're a fan of small cap tech shares then you're in luck. Because right now there are a good number trading on the ASX market that I think have a lot of potential.
Three which I feel would be worth keeping a close eye on in 2020 are listed below. Here's why I like them:
Alcidion Group Ltd (ASX: ALC)
Alcidion is an informatics solutions provider which I think could have a bright future. In FY 2019 the company was in fine form and delivered a 33% increase in revenue to $16.9 million. This was driven by 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. Pleasingly, Alcidion has started FY 2020 in a very positive fashion. On Tuesday it revealed that $15.4 million of revenue is already set to be recognised in FY 2020. This is almost as much as it recorded during the entirety of FY 2019.
Bigtincan Holdings Ltd (ASX: BTH)
Bigtincan is a fast-growing provider of enterprise mobility software. The company's software allows sales and service organisations to increase their sales win rates, reduce expenditures, and improve customer satisfaction. This is achieved through improved mobile worker productivity. It was a strong performer in FY 2019, growing revenue by 51% to $19.9 million. Pleasingly, this strong form has continued in FY 2020. Last week it revealed a 102% increase in cash receipts during the December quarter.
Whispir (ASX: WSP)
Another small cap to watch is Whispir. It is a software-as-a-service communications workflow platform provider. In FY 2019 the company outperformed expectations with a 12% increase in revenue to $31.1 million. A key driver of its growth was the performance of its US business. Thanks to a growing number of customers using its platform, such as entertainment giant Disney, Whispir's revenue grew 24% in the key market. This was supported by a strong performance from its Asia business. Whispir has continued its positive form in FY 2020. Last week it revealed that its ARR reached $36.7 million at the end of December. This is up 16.5% since the end of FY 2019.
