Markvaz1 Please see my comments in blue not critisms just food for thought
Hopefully by the end of next year they are in a position to expand into the US. They have licenced the product in the usa see below
They have a first mover advantage here, but it wouldn't be hard for more mature established debt collection company like e.g. Credit Corp (CCP) to invest in their own digital platform which could completely take out Credit Clear advantage. I dont believe this to be the case if so Credit Corp would have already done it. Another real point of difference is that CCR dont buy debt credit corp does and their collection methods have been heavily critised in the recent royal commisions.also research Collection House who shares are in suspension at the moment ironically due to the amount of debt they have. The traditional collection agency is finished buying debt as a fraction of the price to then recover in full with heavy handed tactis is just not done anymore especially in COVID Companies need to consider their brand.
Lets not forget Credit Clears only advantage is it sends emails/sms/etc to people to pay debts in a flexible installment plan method suited to their situation. These method can be copied by other debt collection agencies.No not really they have a patent pending see below.
That's why if these company is ever going to succeeded and become a blue chip company, it's going to come down to management. Correct Look at Z1P and APT. They offer the same product, but Z1P is more flexible with their installment payments and has been around a lot longer then APT. Z1P had the first mover advantage, but lacked the quality of management APT has which now has there share price sitting on a $100.
In summary IMO Credit Clear needs to: -Established a strong presence in the Australian market by the end of these financial year (by June 2021) They already have 800 + customers and a collection platform, collection agency and a legal agency, They have also used part of the IPO funds to ramp up the sales team to get their name out there.
-Invest in their platform so in can be integrated into any company, language, timezone, etc on a global scale (by September 2021) Timezone, language is already done the IPO fund will be be used to invest in the technological aspects of the portal. The product is already able to be deployed globally google remitter and watch the following clip you can also get a demo to your phone it cost around 50 cents but really assist in getting to understand the product.
-Add quality people to their management team that will take them to International markets- US, UK, Canada, Europe, Asia (by August 2021) They already have a great management team that are able to expand internationally but they are focusing on OZ at the moment. They have licenced the product in the USA under the name Remitter with simon scalzo who was previously the CEO of Openpay the founder. Other markets have been considered but from what i know they believe that Australia is big enough to conquer before moving overseas.
-Buy a Debt Collection Company in the US and begin the expansion (by End of 2021 or Start of 2022) see above , moving internationally require a lot of licence/regulations and costs a lot. with the licencing they get a licence fees and then the communication costs so as Gerd says it a"no regrets agreement"
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