Ian, Yes its definite progress albeit scant on detail which you would expect given contract sensitivities. The fact that a VIF (very important fund) like Rest is happy to have its name associated with our little ($35 mill Cap only) Fin/Reg Tech stock is an indication of how Wrkr is regarded in this ecosystem of major players.
The Pilot Program will be a formality in advance of full roll out as the time and cost saving proposition for Rest will be compelling. Wrkr are on their way to touching 5 or 6 mill employees out of an Aust employee universe of 13.1 mill. It isn't unreasonable to assume other Funds will follow quickly as they all talk and are mutually chasing cost savings and best industry practice.
I'm making a FEELCAST here not a FORECAST
..but Its not unreasonable to look just over the horizon and doing a back of envelope calculation that 5mill employees generating average of $7/pa of revenue across the Wrkr Platform gives us us $35mill Revenue. If this unfolds and assuming costs are contained the market Cap of Wrkr wont be staying at $35mill
The quality of this revenue stream will be significant as it will be like a compounding annuity as long as the Wrkr tech team in the Melb keep tweaking and upgrading the Platform offering.
All this and we haven't even considered the HK Move which I understand Wrkr is driving for Link with 3 Wrkr reps regularly doing commute to HK.
Add to My Watchlist
What is My Watchlist?
