If you're a fan of both small caps and tech shares then you're in luck. Because right now there are a few 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 are listed below. Here's why I like them:
Audinate Group Limited (ASX: AD8)
Audinate is a digital audio-visual networking technologies provider. It has been growing at a very strong rate in recent years thanks to the increasing demand for its flagship Dante product. This award-winning audio over IP networking solution is being used widely across the professional live sound, commercial installation, broadcast, and recording industries globally. Demand will inevitably soften in the short term during the coronavirus pandemic, but I feel this is reflected in its current share price.
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. It recently advised that it remains on course to achieve its guidance in FY 2020. Bigtincan is targeting year on year organic revenue growth in the range of 30% to 40% with a stable retention rate.
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. The good news is that Whispir has continued its positive form in FY 2020. Earlier this week it revealed a 10.4% quarter on quarter jump in Annualised Recurring Revenue to $40.5 million.
