The JCurve business model basically relies on Netsuite.
JCurve is one of many agents being paid a commission to do Netsuite's work - sell and service their products.
The agents compete against each other for customers.
Netsuite really does not care who wins, they get to sell their products.
These are just some of the competitors to JCurve flogging Netsuite in Australia along with numerous accountants and similar type operators.
It would seem this is part of the headwinds issue, highlighted by Hatchman.
The Australian market is now highly competitive amongst the Netsuite providers and JCurve's growth could have been stalled by opposition activity.
The wages bill remains, but the growth may now be minimal. Plus, wages are stalled and at very low levels. If in the future wages do increase - the JCurve business model will take a hit.
Why spend all your resources on building someone else's business for them. Sure you get a commission but in the end, you finish up with nothing as another agent will always replace you.
JCurve has been slow to take control of their own business. Riyo is a start, but this strategy should have been employed years ago when they had sound numbers from the agency arrangement.
Riyo on its own will not solve the issue. It a toe in the water.
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