Right now, I believe that are a number of small cap ASX shares that have the potential to grow into much larger entities in the future.
Three small cap shares which I feel would be worth keeping a close eye on are listed below. Here's why I like them:
Alcidion Group Ltd (ASX: ALC)
The first small cap ASX share to watch is Alcidion. It is a healthcare informatics solutions company which provides software that improves the efficacy and cost of delivering services to patients. Its software also helps to reduce hospital-acquired complications, which can ultimately save lives. I believe Alcidion is well-positioned for growth thanks to the trend for healthcare organisations to shift to a paperless environment. And while the pandemic could stifle its near term growth, I remain confident in its long term outlook.
Medadvisor Ltd (ASX: MDR)
A second small cap ASX share to watch is Medadvisor. It is a healthcare technology company which is focused on personal medication adherence. Medadvisor's app connects to pharmacy dispensing systems to automatically retrieve medication records and drive an intelligent training, information, and reminder system. This has been designed to ensure correct and reliable medication use. Another product which I feel has a lot of potential is its telehealth solution. This allows patients to attend GP consultations from the comfort of their own home.
Serko Ltd (ASX: SKO)
A final small cap share to watch is Serko. It is a technology company focused on corporate travel and expense management. It was growing at a very strong rate prior to the pandemic. This was driven partly by the increasing demand for its Zeno product. Zeno revolutionises the world of online travel booking technology and expense management. Demand for its services will inevitably be impacted by the current crisis, but I expect it to bounce back strongly once conditions ease.
