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BOS Global confident of delivering value for shareholders

It would have been somewhat embarrassing had an office productivity software firm not got its flagship product delivered on time, but fortunately BOS did
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Who's doing what and how long is it taking them?

The first half of 2017 went swimmingly for Aussie software firm BOS GLOBAL HOLDINGS Ltd (LON:BOS).

The company floated on Aim in late 2016, promising to deliver its BOS360 Work Patterns platform in May of 2017. It did so with a day to spare, which in the software world counts as ahead of schedule.

BOS360 has been described as a company accountant or finance director’s dream come true.

WATCH: 'We've now got a platform of strength and stability' - BOS Global's Michael Travia

Operating from the cloud, the platform is able to track the activity of an individual worker, team or a whole company.

In doing so it reveals the interactions and work practices that deliver the best results, and those that don’t.

Employers might then be able to work with a consultant to make the fixes that create a more productive workplace.

Cloud-based technology is easy to roll out

However, readout is so easy and intuitive to interpret that many of the changes can be enacted directly by management, says Michael Travia, the ebullient former managing director of BOS (Travia stepped down from the role in September).

The system also provides human resource benefits. A drop-off in efficiency may flag up a problem with an individual that might be fixed before that person decides to leave the company.

Reducing the turnover of staff, particularly in large companies, provides a further potential saving.

Being cloud-based makes the product relatively easy to instal and integrate with other company software.

The platform will be licensed as a service to customers, helping generate a regular, recurring revenue stream.

Prior to the release of its flagship product, BOS had other modular components, also focused on office productivity, available in the market as a kind of “taster” of what BOS360 would offer.

“We have our own service range which has been recently augmented by the launch of the patented BOS360 Work Patterns Platform as a Service (PaaS) (www.bos-360.com) along with our core patented product, BOS Time,” Travia told shareholders in June 2017.

Travia said the products strengthened its offering, which already includes BOS Meet and BOS Automate, and are gaining traction in the market place.

That market place could be extended to include the corporate clients of a London-based reseller, depending on how the current trial of BOS’s product goes.

The hope is that the trial will lead to a commercial roll-out that will form a bridgehead for the company in the UK market.

“In essence, we are building a platform that we can leverage to grow market share,” Travia said.

Emphasis is now on getting out there and selling, to raise the platform's profile

The company has formed a new Global Project Management Office (PMO) to handle single transactions that have a value in excess of US$20 million within a three-year period, including acquisitions, Innovation Partnerships, or Platinum Reseller agreements.

Under this Global PMO umbrella, BOS is establishing three primary regional divisions within its primary target markets: BOS North America, BOS EMEA (Europe, Middle East and Africa); and BOS Asia-Pacific.

These regional divisions will work alongside the Global PMO to identify new business opportunities and support the continued roll-out of BOS Global software portfolio.

“We believe there is a huge market for our service offering. The world is changing rapidly and companies are seeking to maximise efficiencies, through technological innovation, in an increasingly competitive world,” Travia said.

So, having delivered the big project on time and within budget, the challenge now is to go out there and sell.

The company has high hopes in this regard from its collaboration with Call Design Pty Ltd, a firm in which it has a 40% stake.

BOS paid £280,000 plus 5.04mln BOS shares for the stake, and as well as a seat on the Call Design board it will also get for its investment access to the call centre software tools specialist’s blue-chip client base, which includes all four of Australia’s major banks.

“Call Design already has established relationships with many key players in both our core target sectors and geographic markets and has solid profits so the rationale for this investment becomes even clearer,” said Mark Uren, BOS’s chief operating officer.

Meanwhile, across the group as a whole, BOS said it has achieved first sales and gained a significant number of subscribers across its core geographic markets of the UK, USA and Australia.

“We believe that key commercial milestones during the next six months could deliver good news for shareholders and improve the visibility of our opportunity,” Travia said.

Management changes

The only fly in the ointment would appear to be the unexpected departure in September of managing director Michael Travia.

The search is on for a new managing director, but in the meantime Travia’s responsibilities will be shared on an interim basis by Bill Brooks, currently Global PMO director, and executive director Mark Uren.

The former will oversee the company’s sales and international growth strategy and the latter will be responsible for the broader corporate management duties.

David Ireland, chairman of BOS, remains upbeat about the company's prospects. 

“The opportunities for our software are international and with a defined sales strategy led by Bill, and working closely with the rest of the board, I feel we will be able to deliver value for shareholders," he said.

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