Understanding the Ground-Breaking Technology SaaS: K2fly Seizing the Market Opportunity

The Australia-based technology company, K2fly Limited (ASX: K2F) offers software and services to a strong Tier 1 clientele mainly from asset intensive industries like Mining, Oil & Gas, Facilities Management, Rail, Water and Electricity. K2fly has strategic alliances in place with leading global IT companies like SAP (Germany), Esri (USA) and GE(USA), along with the right mix of leadership, workforce and products, all helping companies to manage and maintain their physical assets and data efficiently.

Read here- K2fly’s Annual Report FY19 Highlights

Global SaaS Market Industry Trends

The history of SaaS is one that is exciting and full of developments! By the early 2000s, SaaS vendors were successful enough to keep the market afloat ever since, and many companies have successfully built on the SaaS business model and thriving. Salesforce is one such prominent player that focussed on SaaS in 1999, driving immense scalability for itself thereafter.

Software as a service (SaaS), Platform-as-a-Service (PaaS) and Infrastructure-as-a-Service (IaaS) are the three key constituents of the modern cloud computing stack. SaaS is a software licensing and delivery model wherein a third-party hosts application online to the customers on a subscription basis.

So, why are businesses switching to SaaS? There are compelling reasons. Regardless of the size, a majority of businesses are utilising cloud-based SaaS for boosting productivity and growth. SaaS enables firms to achieve considerable cost savings and save resources, and time, through the elimination of the need to install and operate applications on-premise.

The top motivations to deploy cloud-based SaaS apps include improvement in IT service delivery speed, enabling business continuity, flexibility in responding to evolving market conditions, upgrading customer services or support, decrease resource waste, address the need for real time data access as well as drive ROI.

Over the years, SaaS has garnered for itself a foothold in software spending and according to a few market research firms, the global SaaS market for business applications is estimated to reach over $ 100 billion in the near future.

K2fly’s Position in The Burgeoning SaaS Arena

K2fly’s two key offerings in the SaaS space are Infoscope and RCubed, that are empowering businesses to deliver more effective and efficient outcomes while making better informed long-term decisions.

The company is working to progressively accrue larger revenue on the back of high-margin sales of its SaaS-based software solutions. For the financial year ended 30 June 2019, K2fly reported total revenue of $ 3.79 million, a staggering growth of over 50% on $ 2.52 million recorded in the prior year FY18.

In addition to serving customers in Australia, K2Fly is keenly looking at serving international companies in the energy and resources sector where ESG (Environment, Social and Governance) reporting has increasingly become a point of differentiation, as industry stakeholders demand higher standards of governance and transparency from the companies that they work for or invest in. Meanwhile, the pre-dominant inhouse systems used by Tier 1 and Tier 2 Miners globally have now become somewhat dated owing to dynamic regulatory changes sweeping across the world for increased compliance and improved reporting.

In the US, the stock market regulator Securities and Exchange Commission (SEC) revamped the disclosure requirements for the mining company issuers in October 2018, which has dramatically increased the demand for K2fly’s RCubed solution.

Read here- Vast Market Opportunity Awaits K2fly’s SaaS-based Solutions

K2fly has carved itself a global leadership position in Mineral Resource and Reserves, ESG for Resources Industry. Further, it has positioned itself to capitalise on the burgeoning SaaS arena, backed by comprehensive SaaS offerings to a plethora of global blue-chip customers base.

Stock Performance

On 25 October 2019, the K2F stock closed the day’s trade at a market price of AUD 0.160, climbing up 6.25% by AUD 0.010, with a market cap of ~AUD 13.07 million. The stock has ~ 81.69 million shares outstanding and it has delivered positive returns of 23.08% Year-to-date and 28% in the last three months.


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