Ann: QuickFee to present at the SNN Conference on 3 August 2020, page-17

Impressions and takeouts from the session - I tried to capture what Brice said but it is not a transcript as I don’t have the time but it should give some insight to what was covered)…if you want word for word then make some time to watch yourself

Bruce is very passionate and upbeat about QuickFee’s business model and prospects especially in the USA

He described the business model as similar/equivalent to like an Afterpay for professional services in b2b sense

There’s a question asked about how well Quickfee is managing their book/ledger in relation to keeping bad debt so low (should clients of service providers fail to pay up). When client takes payment plan from QFE to pay their payment services provider the service provider then provides to QFE an indemnity in relation to any unpaid principal so should the client face bankruptcy etc. then the services provider makes up whole on the unpaid principal.

By way of example, Bruce said their largest client in Australia is KPMG and with such solid/high quality clients as this that’s why bad debt is very low

Similar experiences in the US. We deal with quality firms and as a result have very, very low bad debt.

He then speaks about the sheer size of the US market open to them by providing an example of the size/scale….The California Society of CPA’s, so just (looking at one state i.e. California), is the largest professional services body in the world! That’s our key market. It’s pretty exciting market to be in.

It’s not too big a leap to think we’re not going to move to Canada.

We have enormous opportunity in the States.

We’re in a market that doesn’t have a competitor at present.

(Bruce spoke about an Engineering firm on their books and also Recruitment if I heard correctly). He added that QuickFee is open to any provider that is B2B professional services. Looking even better.

GLTA