accesso Technology (LON:ACSO) Presentation by Tom Burnet, Executive Chairman
http://www.piworld.co.uk/2017/02/16/accesso-asco-at-sharesoc-richmond-7th-february-2017/
Length: 35 mins
An overview of the company, covering the business model, where 95% of revenue comes from commission from transactions. On signing up a client, there is a visible, repetitive revenue stream for the length of the contract. Additionally, it is disruptive for a customer not to renew their contract.
IP is key, and ASCO spend more on IP than their competitors, because they're bigger than their competitors. This is back by their "relentless commitment to service."
Their growth strategy is through acquisition and organic growth. Tom discusses the last three acquisitions: Accesso (2012), Siriusware (2013), ShoWare (2014); and what these add to the ASCO offering. ASCO will do more acquisitions, going forward.
The growth record over the last 7 years has been impressive, and Tom believes there's further growth to be achieved. He has a personal target of $1bn turnover. He outlines where growth might come from.
Introduction – 00:20
Company overview – 3:00
History & growth Lo Q – 6:32
History & growth Accesso acquisition – 12:00
History & growth Siriusware acquisition – 12:35
History & growth ShoWare acquisition – 14:40
Accesso today – 16:53
Locations – 19:55
Revenue history & growth – 20:59
Leadership team – 21:42
Solutions overview (products) - 22:06
R&D - 26:52
Passport - 27:43
LoQueue – 28:35
Siriusware - 30:20
ShoWare - 30:56
What separates Accesso? - 31:32
Strong foundations for the future - 33:44
Financial summary - 34:57
Great presentation and a great business, I'm just unable to bring myself to feeling comfortable at the current PE of 35 or so as forward CAGR is flagged in the presentation as being more difficult to achieve, Mind you I felt the same when I looked at it around the £2 mark so what do I know about growth investments!