Are you interested in small cap tech shares? If you are then you're in luck because there are a good number trading on the ASX right now which I think have a lot of potential.
Three which I think would be worth keeping a very close eye on this year are listed below. Here's why I like them:
Alcidion Group Ltd (ASX: ALC)
Alcidion is an informatics solutions provider which I think is worth watching very 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. Pleasingly, thanks to positive industry tailwinds and growing demand for its high quality software, Alcidion has started FY 2020 strongly. It recently revealed first half revenue of $15.4 million. This is almost as much as it posted for the whole of FY 2019.
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, it has also started FY 2020 strongly. At the end of the first half Bigtincan's annualised recurring revenues (ARR) reached $32.4 million. This represents an increase of 55% since this time last year. Since then the company has won a major two-year contract with DXC Technology Services worth a total of $6.2 million.
Serko Ltd (ASX: SKO)
Serko is an online travel booking and expense management provider. I think it is one of the best small cap shares due to the quality of its offering and its strong growth potential. Another positive is that late last year it was able to raise NZ$45 million to accelerate its growth. Travel booking giant Booking.com was a cornerstone investor in this capital raising and is also a strategic partner. And after a very positive start to FY 2020, Serko is on track to achieve its operating revenue growth guidance of 20% to 40%.
