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TripleTop

4,008 Posts.

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21/09/16

07:40

Post #: 19300406
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Originally posted by Brumbypat ↑

Triple's post above is a good wrap.

I would add that we also have Leanne Graham as our chairwoman. She helped gain SME traction with Xero and is guiding us down a similar path here. Russell is also proving a very astute manager and as you can see from the last announcement they are really starting to get some traction with big companies as well as small.

The recent capital raise was to fund rapid expansion and start selling overseas. This can result in Xero-like exponential growth given that SME clients in particular can now sign up online without having to touch base with any salesperson.

There is a lag between first contact for a client and first revenue. Firstly, every SME can sign up for a month long free trial (I suggest all holders do this so you actually know what the product is).
For bigger business, the creation of video content and training can naturally be expected to also take some time if they haven't already got some video resources at hand (let's face it, most won't).

The real advantage of the Velpic platform is that you can deliver modern, easy to follow video training on any device. From the platform, the HR Dept or training manager can directly monitor which staff have or have not completed the training. They can send reminders easily to those who haven't done it, they can track pass rates and through the partnership with Tikforce they can even verify using bio-metrics that the person clicking the buttons at the other end is the correct user. (Think of the wife answering all the WHS questions for the husband - trust me, it happens!)

Video content is taking over the Internet and anyone with a mobile phone can produce good quality content quickly in their own business. Changes or improvements to the training is also easily done as the business evolves or systems change.

Velpic is such an easy to use tool and so all encompassing that it will shatter the traditional training depts of big business, and really opens the door for smaller businesses to create their own training at a cost-point that will encourage them to do so. In my experience, small business has shied away from customized training due to the big overheads of getting in qualified trainers.

As you say above, it only takes a few hundred enterprise clients to make it viable. But we all believe that the SME market is the big growth story (think Xero for small business) and the re-seller partnerships are already yielding divs. Our brand agency Dash Digital also brings in a steady $2 million a year to help offset costs as we start to aggressively expand.

This will be a multibagger for sure from these levels. Companies with this sort of disruptive capability in a slow and cumbersome industry can make rapid advancements and take huge market share before more established trainers realise what has happened.

GLTAH.

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Cheers Brumby, some excellent points added!

VPC Price at posting: 2.7¢ Sentiment: Buy Disclosure: Held
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