Are you interested in small cap tech shares? If you are, the good news is that there are several 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:
Bigtincan Holdings Ltd (ASX: BTH)
Bigtincan is a provider of enterprise mobility software. Its software allows sales and service organisations to increase their sales win rates, reduce costs, and improve customer satisfaction through improved mobile worker productivity. Its platform has been attracting a lot of attention from some of the world's biggest companies. Last year Bigtincan added to its blue chip customer base with agreements with sports giant Nike and global beauty retailer Sephora. I believe this is a testament to the quality of its product and bodes well for its performance in the coming years. Earlier this week it reaffirmed its 30% to 40% organic revenue growth guidance for FY 2020.
Volpara Health Technologies Ltd (ASX: VHT)
Another small cap share to watch is Volpara. It is a fast-growing provider of software that uses artificial intelligence imaging algorithms to assist with the early detection of breast and lung cancer. Volpara's software continues to grow in popularity with radiologists across North America. This has led to rapid recurring revenue growth. For example, last week it revealed full year Annual Recurring Revenue (ARR) of NZ$18 million. This was ahead of its upgraded guidance and up 172% year on year. I expect this positive trend to continue for some time to come and be supported by recent acquisitions.
Whispir (ASX: WSP)
A final small cap to look at is Whispir. It is a software-as-a-service communications workflow platform provider. This industry-leading software platform allows companies to deliver actionable two-way interactions at scale using automated multi-channel communication workflows. This helps make operations more efficient and can cut down the number of service desk support calls. It counts a number of blue chips as customers such as Disney and Foxtel. Whispir has been a positive performer in FY 2020. In the first half it grew its ARR strongly to $36.7 million. Since then it has grown its ARR by a further 10.4% during the third quarter to $40.5 million.
