Many sectors of society might have come to a complete halt during COVID-19 if it was not for innovative solutions from the tech industry. Pic: Getty Images
ASX small and mid-caps driving cutting-edge tech solutions during COVID-19 and beyond
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Many sectors of society might have come to a complete halt during COVID-19 if it was not for innovative solutions from the tech industry, which will last well beyond the pandemic.
As governments worldwide have been forced to protect public health and economies during the COVID-19 pandemic, policies were often seen as somewhat of a trade-off between lives and livelihoods.
While remote working had become a trend pre-pandemic, lockdown orders significantly disrupted labour markets. The transition to working from home came frantically for many organisations forced to shut office doors, while simultaneously minimising disruption, protecting their operations and bottom lines.
Schools were shutdown with students forced to learn remotely, while consultations with health professionals were even done over a screen where possible. Tech companies like Zoom and Slack joined Microsoft as household names as the world became more reliant on digital products to stay connected.
With an end now in sight to lockdowns, what has become clear is the importance of technology in so many sectors of society. Rapidly changing work environments, the rise of fintech, e-commerce, the need for vaccine passports, contract tracing apps, and even our entertainment requirements have placed tech and innovation at the forefront during this modern-day pandemic.
The tech sector has risen to the challenge, scaling quickly, and developing new revenue channels. From propelling workplace collaboration to providing digital health solutions, there are some innovative standout small and mid-caps in the Australian tech space expected to excel for years to come.
SKS Technologies propelling workplace collaboration
Tech integrator, SKS Technologies Group (ASX:SKS) is a leading provider of audio-visual and IT solutions, electrical and communications networks in the commercial, retail, health, defence and education sectors nationally.
SKS is at the forefront of technological advancements through the design and installation fit-outs and upgrades of audio visual and information technologies, working directly with the end user.
Despite concern around return to office, SKS has seen a growing increase in corporate offices ensuring they’re ‘work ready’ with projects being won at a faster rate than they’re being completed, bringing an array of organisations including government and public sector closer to the end user.
Improving healthcare for people with chronic conditions
Digital Health Solutions provider Global Health Limited (ASX:GLH) is paving consumer-driven solutions to delivering healthcare services to those living with chronic conditions such as Mental Health illness, Diabetes and Cardiovascular disease.
With a decade of expertise in medical software solutions for clinicians, community health providers and hospitals bring extensive knowledge of how software supports patient outcomes through MasterCare.
Increasingly healthcare providers want to interact with patients digitally, from telehealth to filling in forms before they present at a facility. A Digital Front Door allows a care provider to support patients with an enhanced customer experience whilst saving time and money.
GLH are emerging the adoption of Digital Front Door solutions across a range of health organisations and have increased capabilities for in – home care, following the emerging demand in the health care sector.
Patients expect healthcare on their terms more than ever before, from who they see to where and when they see them. Global Health are using software to enable care providers to put the patient at the centre of their healthcare experience.
Global Health continually innovate with leading edge solutions and are on track to deliver their M+Connect mobile application for in-home care this month.
Identitii working to secure the financial ecosystem
Regtech platform Identitii Ltd (ASX:ID8) is working to create a safer, more secure and trusted global financial ecosystem, by improving the integrity of data as it is used to process, reconcile and report on financial transactions.
The need for banks to comply with anti-money laundering and counter-terrorist financing laws is arguably more important than ever today, as financial crime has increased since the start of the pandemic.
Identitii has developed a platform that helps banks comply with AUSTRAC, Australia’s financial crime regulator, by making it easy to identify and manage the information needed to process and report financial transactions.
Without this information, banks are at risk of inaccurate, incomplete reporting and non-compliance, which can lead to fines and reputational change.
ID8 recently signed a three-year licence agreement with the Australian division of global bank Standard Chartered, and has also signed a three-year deal with payments company Novatti (ASX:NOV). Other customers include HSBC and Mastercard.
It recently launched a new cloud-based platform that “simplifies and automates AUSTRAC compliance” for the more than 15,000 entities that are required to report to the Australian regulator.
It expands on the capabilities of its existing AUSTRAC reporting solutions to make it easier for Mutual Banks, Money Service Businesses, Superannuation Funds, Casinos and Non-bank Financial Institutions to ensure complete and accurate AUSTRAC reporting.
Simble using tech to help companies become net-zero
Energy intelligence and carbon management software provider, Simble Solutions (ASX:SIS) is working with companies on the pathway to net-zero through their enterprise-grade carbon and sustainability reporting platform, CarbonView.
From commercial and industrial companies through to SME’s, CarbonView assists companies to measure and ultimately reduce their carbon footprint. The platform is set to take advantage of the global push for carbon management and reporting and the company is on track to launch their SME focused version of CarbonView at the end of November.
Simble is also launching an online campaign targeting SMEs across Australia with their energy intelligence platform, SimbleSense, to help companies to measure, baseline and reduce their energy usage. All of these activities are well timed as Australian companies embark on their journey and look for ways to achieve their NetZero target.
Recently, to support growth activities in the UK and Australia for CarbonView, Simble conducted a $1.63m placement that was corner stoned by L39 Capital Pty Limited.
Simble counts British power transmission company David Brown Group among its clients with the company now deploying CarbonView across its global sites.
This article was developed in collaboration with Fresh Equities, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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