Are you a fan of small cap tech shares? If you are then you're in luck because there are a good number trading on the ASX right now which I believe have a lot of potential.
Three which I feel would be worth keeping a close eye on are listed below. Here's why I think they could be stars of the future:
Audinate Group Limited (ASX: AD8)
The first small cap to watch is Audinate. It is a digital audio-visual networking technologies provider that has been growing at a very strong rate in recent years. This has been driven by the increasing demand for its innovative Dante product. This award-winning audio over IP networking solution is being used widely across the professional live sound, commercial installation, broadcast, and recording industries globally. The company also has its eyes on the lucrative Audio & Video (AV) market. If it can dominate this market as well, it could be destined for big things.
ELMO Software Ltd (ASX: ELO)
ELMO is a cloud-based human resources and payroll software company. It provides users with a unified platform that streamlines processes such as recruitment, on-boarding, learning, and payroll. Its platform has been growing in popularity over the last few years thanks to increasing demand and its high retention rate. This has led to ELMO growing its recurring revenues and earnings at a very strong rate. The good news is that it still has a massive addressable opportunity in the ANZ market and the potential to expand globally.
Whispir (ASX: WSP)
A final small cap to watch is Whispir. It is a software-as-a-service communications workflow platform provider. This platform allows companies to deliver actionable two-way interactions at scale using automated multi-channel communication workflows. This helps make operations more efficient and can cut down the number of service desk support calls. I feel a testament to the quality of its offering is it blue chip customer base which includes AGL Energy Limited (ASX: AGL), Foxtel, and Disney.
