@Slideup I have the same thought you did. We have not seen any change in "Live Users" in 3 months - still only 23,000. Surely that can't be correct? If there were 20,000 onboarding in January, you have surely expected a few to have "graduated" by now. After all, training in how to use an expense card is not exactly rocket science.
If this is real, is it a concern? Or have they just not updated all elements of the pipeline?
Perhaps we will see this clarified in the 4C narrative?
Disc: Held in RL and SM (tiny positions in both)
@mikebrisy I checked with the CEO, the "re-alignment of users" was NSW Gov handing back some inactive accounts that weren't being billed. No impact to revenue; accounts down, ARPU up. Could have been explained much better in the 4C, but overall not an issue.
Wondering if anyone has any comment on how much of a threat ANZ's new business virtual card offering is/ See https://www.itnews.com.au/news/anz-lets-businesses-create-single-use-virtual-credit-cards-588421?eid=3&edate=20221130
THey have teamed up with a US company that, on the surface, is in the same ballpark as Expense8 and CardHero.
From the article "Virtual numbers are generated via an online portal, and "customers can restrict the use of this card to a single transaction and limit the date range, dollar value, and vendor," ANZ said.
@Slideup For reference here is the contract awarded to Concur back in 2017 from the Department of Defence: https://www.tenders.gov.au/Cn/Show/7c4afd5e-afec-004e-1977-2309b8d4d123
Nearly $10m, as a single department is is probably larger than the rest of Fed Gov combined and definitely represents a massive potential for 8CO. That contract was scrapped back in 2019 (https://www.canberratimes.com.au/story/6457124/good-bit-of-7m-project-it-reminds-us-of-the-complexity-of-our-administration/) and DoD reverted back to an old legacy system.
As far as I am aware there is no set timeframe for the DoD contract to come back up for tender but when it does you would think 8CO is in the box seat.