Nine lives there are some really good insight in that recent interview that Russell done.
There have been a couple of posters who have asked what the key difference are between the velpic platform and other lms platforms on the market well I would say that this would be a major one as Russell has outlined.
"So, we are significantly cheaper than the traditional LMS’s.
Again, that same organisation I was just talking a moment ago I referred to, they were paying around about $150,000.
It varied depending on how many staff they had, it was between $130,000 and $150,000 per annum on their traditional LMS, and they obviously had those four or five staff looking after the system and managing it on a day to day basis.
With Velpic, our cost for the similar services was around about $35,000 to $40,000, depending on how many lessons they were doing, and of course they only had one person looking after the system".
Well If I was the CFO of a company or someone that manages the budget of a business than signing up with Velpic would be an absolute no brainer, initial savings of up to $100k for software than added savings through reduced staffing.
As for international expansion yes NZ is the most logical next step however I feel things may move faster than we all expect regarding expansion there are some subtle clues within that transcript if you take the time to read it thoroughly also at the same time maybe check out some of the Xero announcements (Strategic placements) for the period between 2009 and 2013 you'll start to see where things are heading.
As Russell has noted
"With any first mover advantage business, and every SaaS business or every technology business is first mover advantage, it doesn’t matter if you're Google, eBay, or Velpic, you've got to maintain that first mover
advantage".
Like I previously said it took Xero 2 years of flat-lining before Leanne came on board, having her at the helm given her background and previous experience I would not be surprised if she and the management decide to kick things up a notch and accelerate the business to a different level remember guys with tech companies it's not about turning a profit it's about building growth and the hype around it.
VPC Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
