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Looking for the next big thing? Check out these exciting ASX tech shares

The next big thing magnifying glass

If you’re looking for the next Appen Limited (ASX: APX) or Xero Limited (ASX: XRO), then I think you might want to check out the small cap tech shares listed below.

I believe these three companies have the potential to grow materially over the 2020s. If this happens, it could lead to their shares generating very strong returns over the next decade.

Here’s why I think they should at least be on your watchlist:

Bigtincan Holdings Ltd (ASX: BTH)

Bigtincan is a $495 million 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. It achieves this by pairing functionality with a highly-intuitive user interface that provides an advanced content management system, document automation, internal communications, and fully integrated modern LMS. Demand for its platform has been growing at a very strong rate and has attracted a number of blue chip customers. The good news is that it still has a long runway for growth. Management estimates that the sales engagement platform will be worth $6 billion a year by 2021.

ELMO Software Ltd (ASX: ELO)

ELMO is a $520 million cloud-based human resources and payroll software company. It streamlines processes such as employee administration, recruitment, on-boarding, remuneration, and payroll through a single a unified platform. At present the company is operating in both the ANZ and UK markets. Though, given how its platform is jurisdiction agnostic, expansions into other regions seems likely in the future. For now, though, the company estimates that it has a $2.4 billion opportunity in the ANZ market and a $6.8 billion opportunity in the UK market. Its footprint in the latter market has just been boosted with the acquisition of UK-based Breathe.

Whispir (ASX: WSP)

Finally, Whispir is a $425 million software-as-a-service communications workflow platform provider. Its industry-leading software platform allows businesses and governments to deliver actionable two-way interactions at scale using automated multi-channel communication workflows. A great example of its use was during the height of the pandemic when it was used by 22 government departments for COVID-19 communications. It was used for secure, interactive two-way messages and real-time updates to sufferers and those who have been in the close contact with someone with COVID-19. Management estimates that the Workflow Communications platform as a Service market could reach US$8 billion per year by 2024.

This Tiny ASX Stock Could Be the Next Afterpay

One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting...

Because 'Doc' Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget 'buy now pay later', this stock could be the next hot stock on the ASX.

Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!

Returns as of 6th October 2020

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, and Whispir Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended BIGTINCAN FPO, Elmo Software, 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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