Novatti to expand billing automation business to US
Novatti Group Limited (ASX:NOV), a leading digital banking services and payments company, announce that its business process automation platform, Emersion, is preparing to launch in the US in Q3 this financial year.
Emersion automates end-to-end business processes, including billing, collections, subscription management and embedded payments, improving customer cashflow, lowering costs, and freeing-up businesses to focus on their customers. The quality of its products and services has already seen it develop a loyal customer base including utility, telecommunications and managed service providers, across Australia, New Zealand and Singapore.
The US launch is the next step for Emersion’s international expansion. As a full SAAS platform, Emersion drives high-margin, recurring revenues with each new client. Novatti is investing in the US expansion now to escalate the growth in the customer base and subsequent recurring revenues and margins.
Since being acquired by Novatti in April this year, Emersion has continued to perform strongly, with new customers on-boarded in both Australia and New Zealand and a very strong sales funnel. It was also recently cleared by customer relationship management giant, Salesforce, for launch on its global business applications marketplace, Salesforce AppExchange.1
Novatti’s $10.2m capital raising earlier this year continues to play an important role in facilitating Emersion’s growth, particularly in providing new resources. For example, in the last four weeks, Emersion has recruited six new employees in sales, customer service and engagement, finance and training, which will help accelerate its growth.
Launching Emersion in the US will extend Novatti’s ongoing overseas expansion and follows the regulatory approval received last week for ‘issuing and managing means of payment’ in New Zealand, the necessary step prior to Novatti launching any issuing services in that market.2
Managing Director of Novatti, Peter Cook, said, “Through COVID-19, we have seen a strong push to leverage technology to automate and digitise business processes and payments. This was even highlighted in this week’s Federal Budget with the Australian Government investing nearly $800m to enable business to take advantage of digital technologies.3 The Emersion platform has the capabilities to match the Government’s vision.
“With such a strong push to digital, and with Novatti already having the platforms to deliver these outcomes, we see this as a great time to accelerate our growth strategy and international expansion, and deliver high-margin recurring revenues.”
1 Novatti ASX Announcement – Salesforce clears Emersion for launch on global marketplace – 4 September 2020
2 Novatti ASX Announcement – New licence paves the way for New Zealand expansion – 2 October 2020
3 Australian Government media release – Digital business plan to drive Australia’s economic recovery – 6 October 2020
