At the small end of the Australian share market I believe there are a number of companies that have the potential to grow significantly in the future.
Four that I think are capable of this are listed below. Here’s why I think they should be on your watchlist:
Bigtincan Holdings Ltd (ASX: BTH)
Bigtincan is a $433 million provider of enterprise mobility software. This software allows sales and service organisations to increase sales win rates, reduce expenditures, and improve customer satisfaction through improved mobile worker productivity. It has been growing at a very strong rate, even during the pandemic. The good news is that it still has a long runway for growth. The company advised that the sales engagement platform market is expected to be worth $6 billion a year by 2021.
ELMO Software Ltd (ASX: ELO)
ELMO is a $465 million cloud-based human resources and payroll software company. It provides a unified platform to streamline processes such as employee administration, recruitment, on-boarding, remuneration, and payroll. It has a massive opportunity in both the ANZ and UK markets. Management estimates that the ANZ market is currently worth $2.4 billion per year and the UK market is worth $6.8 billion. The company also has $140 million on its balance sheet to deploy on acquisitions.
Mach7 Technologies Ltd (ASX: M7T)
Mach7 is a $232 million medical imaging data management solutions provider. Its enterprise imaging platform unlocks disparate archive silos, consolidates patient data, and simplifies sharing and access. This helps to inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes. Mach7’s total addressable market is estimated to be worth US$2.75 billion per year.
Whispir (ASX: WSP)
Whispir is a $428 million software-as-a-service communications workflow platform provider. It provides an industry-leading software platform that allows governments and organisations to deliver actionable two-way interactions at scale using automated multi-channel communication workflows. Management estimates that the Workflow Communications platform as a Service market could reach US$8 billion per year by 2024.
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More reading
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- 3 exciting ASX small caps to put on your watchlist
- Top ASX Stock Picks for September 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 Elmo Software, MACH7 FPO, and Whispir Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool Australia has recommended 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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