I haven't posted recently as I have had limited time to get across all reports done by RaaS and MST and to fully drill into the quarterly and also the quarterly presentation. I didn't view the webinar live or ask any questions, but I did get to view it on Wednesday night.
After listening to the webinar, I hear, what I believe to be, is great frustration in Trent's voice and even in Karen's voice, although very upbeat about revenue growth and cash burn reduction. It's quite obvious they/we are now fully focusing on Link Group inking the work to be done by Wrkr for the next 5 plus 5 years for Link clients. (10 year contracts in total) One major milestone with Link Group inking of contracts would be confirmation across industry potential clients of Wrkr's ability to supply the solutions needed across the entire industry. I kind of feel that sounds strange, seeing as that Wrkr has the Wrkr Platform across other major clients already (ART, Commonwealth Super Corporation and IOOF) but with the build of the new Wrkr Platform 2.0 or WrkrPay 2.0, I feel there is way more to be said from management yet about future services and "dollar value compliance moments and services"!
Screenshot below from RaaS initial report.
I would say most missed the importance of the mention of Workday and maybe even the mention of HSBC design work completion. I did a quick search on Workday and see that it's a global company with many, many clients and channel partners as you have indicated in your question on the Wrkr Hub.
Below - screenshot from the July quarterly report.
I've copied/pasted your question and Trent's answer from the Wrkr website on Workday below as I believe it carries much weight showing current and future direction of where Wrkr's technology can be used.
Your "observation" and question.
I would also like to ask a question from the 4C.
Observation: There was a low key statement made about Wrkr Platform integrating with Workday. I did some research on Workday here in Australia. It seems to be a solution that is provided through channel/implementation partners like KPMG, Accenture, Deloitte.
Question: My thinking is that you would need to have built a relationship/agreement with at least one of these channel/integration partners to warrant the investment in upgrading the Platform to integrate with Workday....is this correct?
Trent's answer.
Thanks you for taking the time to ask a question. Your obsservsations were astute. We have investing in integrating and testing our API connection with WorkDay for a few reasons. Firstly WorkDay is growing rapidly across Australia with very large employers with employee volumes between 5 and 30K each (Health, Universities and Telco/Utilities). Secondly we have been investing in relationships with an Advisory Firm with strong payroll traction (more to come on this as we gain market traction together). We have also seen the WorkDay platform integration requirments emerge from one of our Payroll provider targets. These relationships have all been evolving over the last twelve months.
So, I'm very curious to hear anything more on the "integrations" with Workday and what it could translate into in potential dollar terms for Wrkr.
I would like to see Wrkr move more into Payroll Payments. I'm not exactly sure what they supply currently for clients. I heard a question on the webinar mentioning "blue sky". Obviously payroll payments come to way, way more than Super contributions/payments do. Frequency of payments have been discussed and will increase with the introduction of new Payday regulations. What will that mean for Payroll? Will Wrkr move more towards Payroll gaining payroll payments once the WrkrPay 2.0 Platform is up and available for the Payroll Industry to asses and use for a total solution with government Payday regulations??
I'll never let go of this screenshot below from many past and different announcements!!!
ITATWTWT.........
Waiting patiently for Link to Ink!
Jocko.
WRK Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
