Demand strong as Schrole’s Engage 1.0 released early to fast-track global scale-up
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Schrole has released its onboarding software for schools Engage 1.0 ahead of schedule, with demand for the product already strong.
Global SaaS and ed-tech company, Schrole Group (ASX:SCL) has released Schrole Engage 1.0 ahead of schedule, marking a significant milestone for the company with all its HR modules now in market.
The provider of accredited training and global human resources (HR) software-as-a-service (SaaS) is already seeing increases in contract value and number of products per customer as its HR suite has expanded.
Schrole has had 43 schools beta testing Engage 1.0, creating a strong demand pipeline for the product.
The product is considered a significant release for Schrole, with its potential to increase customer lifetime value and provide further sales opportunities throughout the year.
Schrole’s flagship full SaaS product suite called “Schrole HR” comprises five Human Resources SaaS offerings, including Schrole Connect and Events, Verify, Cover, Develop and Engage.
Schrole Engage1.0 provides onboarding software for schools, streamlining the often-challenging process of data collection, verification, and review.
Release of the expanded Schrole HR product suite is significant because it will enable additional cross and upsell opportunities supporting growth in sales and revenues.
Engage will also enable sales generation across the full calendar year, reducing historical reliance on the second half.
Initially targeting teachers and educational organisations, Schrole is now scaling globally and targeting new growth markets, including the healthcare sector.
Schrole HR is a complete Human Resources SaaS solution, combining recruitment, background checks, onboarding, relief teacher management, and professional development.
Schrole Connect is an advanced recruitment and applicant tracking app. Schrole Events was released late last year and provides regionalised online events.
And then there’s Schrole Cover – a cloud-based software platform that swiftly and easily engages relief staff.
Schrole Verify provides background screening in the international schools’ sector, while Schrole Develop provides accredited professional development solutions contextualised to client needs.
Cash receipts were up by almost 50% in the December quarter, as Schrole’s growth investments in an expanded sales and account management team and its expanded HR SaaS suite gained traction.
Schrole reported positive cashflow of $277k and a strong balance sheet of ~$5 million for the December quarter.
RaaS research showed SCL trades at a significant discount to the base case discounted cash flow (DCF) valuation of 3.5 cents per share.
This article was developed in collaboration with Schrole, 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.