4 exciting small cap ASX shares to watch closely

Bigtincan Holdings Ltd (ASX:BTH) and Whispir (ASX:WSP) are two of four small cap ASX shares that I think should be on your watchlists…

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At the small end of the Australian share market I believe there are a number of companies with the potential to grow materially in the future.

Four that I think have a lot of promise are listed below. Here’s why I think they should be on your watchlist:

Bigtincan Holdings Ltd (ASX: BTH)

Bigtincan is a fast-growing provider of sales enablement software. Sales enablement software provides businesses with the information, content, and tools that help sales teams sell more effectively. The company has experienced very strong demand for its platform in recent years from a number of major companies. These are spread across over 50 countries and a diverse range of industries and sectors.

ELMO Software Ltd (ASX: ELO)

ELMO is a cloud-based human resources and payroll software company. It provides a unified software platform which allows businesses to streamline a range of processes for employee administration, recruitment, learning, remuneration, and payroll. ELMO has a massive opportunity in the ANZ market and the option to expand internationally in the future thanks to its jurisdiction agnostic platform. Another positive is its mountain of cash which management plans to deploy in the near future to acquire complementary businesses.

Mach7 Technologies Ltd (ASX: M7T)

Another small cap to watch is Mach7. It is a medical imaging data management solutions provider. Mach7 uses software to create a clear and complete view of the patient. This software helps to inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes. The company’s total addressable market is estimated to be US$2.75 billion.

Whispir (ASX: WSP)

A final small cap ASX share to watch is Whispir. It is a software-as-a-service communications workflow platform provider which automates interactions between businesses and people. The company has experienced very strong demand for its platform in 2020 and now has more than 500 enterprise clients. These include Disney and the Victorian Department of Health and Human Services. The latter is using the platform to interact with Victorians about coronavirus.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends BIGTINCAN FPO, Elmo Software, MACH7 FPO, and Whispir Ltd. The Motley Fool Australia has recommended BIGTINCAN FPO, Elmo Software, MACH7 FPO, and Whispir Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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