The ANZ region may only have a small tech sector in comparison to the United States, Europe, and China, but it is home to a good number of quality companies which I believe are worthy of a spot in most portfolios.
Three of my favourites are listed below. Here’s why I like them:
Altium Limited (ASX: ALU)
Altium is easily one of my favourite tech shares on the Australian share market. It is a software-as-a-service company that provides an award-winning printed circuit board (PCB) design platform. PCBs are the small boards you find in almost all electronic devices. Given the proliferation of electronics, demand for its software has been growing at a very strong rate in recent years. The good news is that management doesn’t expect this demand to ease any time soon. In FY 2020 it expects to have 50,000 software subscriptions. It is then targeting market domination and 100,000 subscriptions by FY 2025. Given the quality of its software and its leadership position in the industry, I believe Altium will achieve its goals.
Bigtincan Holdings Ltd (ASX: BTH)
Another tech share to consider buying is Bigtincan. It is a provider of enterprise mobility software that enables sales and service organisations to increase sales win rates. It has a number of blue chip clients using its software, which I believe is a testament to its quality. One of these is Australia and New Zealand Banking Group (ASX: ANZ). The banking giant has been able to streamline its processes for capturing client information through the use of tablets and a custom Bigtincan build. Bigtincan revealed that this cutting-edge approach to optimising its frontline workers’ processes has helped the bank differentiate itself and increase customer satisfaction. With demand growing strongly, Bigtincan is expecting another strong result in FY 2020. It expects to deliver a 30% to 40% increase in organic revenue growth despite the pandemic.
Xero Limited (ASX: XRO)
A final tech share to consider buying is this cloud-based business and accounting software provider. It has been growing at an explosive rate over the last few years thanks to the rapid adoption of its software by small businesses across the globe. The good news is that management estimates that less than 20% of the global English-speaking target market is using cloud-based accounting software at present. Given the overwhelming benefits of cloud-based software over alternatives like an Excel spreadsheet, I believe more and more businesses will make the switch in the coming years. This should provide Xero with a significant runway for growth over the next decade.
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More reading
- Should you invest $1,000 in Altium shares today?
- 3 ASX dividend shares to buy today
- 3 ASX 200 growth shares I want to buy for my portfolio
- How to make a $50,000 passive income with ASX shares
- Have $500 to invest? Then buy these 5 ASX 200 shares immediately
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 Xero. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool Australia owns shares of Altium. 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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