@jocko mate your research has been exemplary to date. I did...

@jocko mate your research has been exemplary to date. I did share some time ago my suspicion that STP is a key area of opportunity for us. It makes pure logical sense for IP1 to tap in here as this is a critical component of the overall government compliance objectives with ABN taxes, legislative obligations super payments & payroll tax etc. The area of great focus is SME"s.

There are far too many people paid incorrectly and with missed entitlements due to complicated EBA"s and interpretation. This cost affects workers, government, our legal system etc etc. It's an ugly area that requires automation, compliance and governance. The upside will be significant and whichever government achieves implementing the solution will have bragging rights for decades.

Government statistics show the changing demographic from permanent employment to greater contingency employment (casuals contractors). Contingent employees have multiple employers, super accounts etc etc. Very very messy.

The ATO is also placing massive pressure on tax accounting firms to get their clients on to STP. The ATO is also conducting reverse forensic analysis whereby they are obtaining information from all wholesalers and major corporates across most industry groups and collecting sales volume data by ABN. Example: Restaurant declares sales of $300K etc with 4 employees etc. Tax Agent lodges the quarterly but the ATO has information that the ABN shows purchase of supplies the same period of $1M. Question to owner from ATO is how do you run a business on these numbers for 5 years ? you should be broke by now. Please explain it will take a few years but the days or dodging entitlements are coming to an end.
I recall very early in the piece there was interface compatibility between IP1 & Xero. I wouldnt be surprised if there is a bit of jostling going on between the 2 parties.

Xero had pretty much Xero competition in their field. Now out of nowhere someone called IP1 has popped in to say hey we can also provide outsourced STP services and guess what we can also take it to the next level and link this to your super obligations via our patent technology via your preferred super fund. Xero cant offer that

If I'm Xero I ain't happy.
But this could get ugly as well. Big bro bashes little bro

Collectively I forsee massive market opportunity for IP1:
1. Super Clearing House
2. Data management services
3. Outsourced STP services (maybe partner with Xero)
4. P2P for B2B processing

I can go on for hours and days @jocko but enough for now.
Happy to take questions. . .