Novatti Group Limited’s (ASX:NOV) subsidiary Emersion has been cleared by customer relationship management giant, Salesforce, for launch on its global business applications marketplace, Salesforce AppExchange.
Emersion’s platform 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.
Novatti Managing Director, Peter Cook, said the quality of its products and services has seen it develop a loyal customer base including utility, telecommunications and managed service provider companies, across Australia, New Zealand and Singapore.
Following the completion of extensive development and security certification, Salesforce has cleared Emersion for launch on its global business applications marketplace, Salesforce AppExchange.
Mr Cook said this puts Emersion on the global stage, providing it with a platform to scale and to be easily accessed by Salesforce’s worldwide user base.
Novatti acquired Emersion in April this year, with the integration completed smoothly and with performance immediately beating expectations. Notably, Novatti’s $10.2 million capital raising earlier this year played an important role in this latest achievement with Salesforce, with some of the funds raised used to employ additional staff to deliver this growth opportunity and to pursue further international expansion.
Mr Cook said this is a key, practical example of how Novatti will use these funds to accelerate its growth strategy.
Emersion has continued to perform strongly since joining Novatti. This endorsement by Salesforce validates the quality of Emersion’s products and services and their ability to scale and compete globally. FY21 is expected to be a strong year for Emersion with further plans for international expansion,” he said.
Mr Cook said Emersion is expected to play a key role in Novatti’s ongoing growth. This follows Novatti’s strong FY20 performance results, which included:
- processing more than $2 billion in transactions;
- recording more than 60% growth in core processing revenue;
- increasing total revenue by more than 33%; and
- averaging approximately 50% annual revenue growth in each of the past three years.