The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
A new Safetell article on bullet-proofing ... for a share that can help to 'bullet-proof' your portfolio:-
"The Importance of Ballistic Ratings in Modern Physical Security
18 August, 2023
While the UK has strict gun laws, incidents of crime involving firearms are on the rise. Many businesses, community centres, and government buildings are considering adding a layer of ballistic protection to their buildings as a result. While the word “bulletproofing” is commonly used, it’s an exaggerated term.
There are different levels of ballistic protection. When a product or material is deemed bullet-resistant, it indicates that it’s been tested to offer a degree of protection against bullets and projectiles and mitigate/resist the impact. It won’t necessarily provide full protection against all types of ammunition, for example.
To better understand the level of protection offered, examine the ballistic classification assigned according to set ballistic standards.
Ballistic standards provide a scientifically validated framework for testing and classifying the resistance of materials, structures, and barriers against ballistic threats, such as bullets and projectiles.
Why Do Ballistic Ratings Matter?
Ballistic ratings and standards play a vital role in specifying the appropriate level of ballistic protection required for safe room designs and other security applications. Each standard provides valuable information about the materials’ ability to resist various calibres and types of ammunition. Understanding and adhering to these standards ensures that security measures are effective and reliable in safeguarding against small arms threats.
In high-risk environments such as government buildings, financial institutions, law enforcement facilities, or retail stores, the threat of armed attacks is a genuine concern. Ballistic-rated materials can significantly reduce the risk of injury and damage during such incidents, offering occupants more time to seek shelter or escape and allowing law enforcement personnel to respond effectively to the threat.
Incorporating materials that adhere to recognized ballistic standards ensures consistency and reliability in security solutions. These standards have been thoroughly tested and validated by experts, making them a benchmark for assessing the performance of various products. Relying on such standards helps avoid the ambiguity of individual company claims and ensures that security measures meet industry-accepted criteria. ..."
https://www.safetell.co.uk/insights/the-importance-of-ballistic-ratings-in-modern-physical-security/
"Paycor Announces Fourth Quarter and Fiscal Year 2023 Financial Results
... Fourth Quarter and Recent Business Highlights
• Launched Paycor Engage, which combines several employee engagement tools into a single platform to elevate how leaders communicate with and motivate their team. The new solution empowers leaders to share company news, communicate with teams and recognize employees across mobile and web applications.
• Introduced an AI-enabled Job Description generator, further strengthening the Company’s suite of artificial intelligence solutions, such as Paycor Smart Sourcing and Predictive Resignation. Based on job title and required experience, the integrated solution creates compelling job descriptions, empowering leaders to attract and hire top talent faster than ever before.
Fiscal Year 2023 Financial Highlights
• Total revenues were $552.7 million, compared to $429.4 million for the fiscal year 2022.
• Operating loss was $104.7 million, compared to $139.6 million for fiscal year 2022.
• Adjusted operating income* was $82.6 million, compared to $47.5 million for fiscal year 2022.
• Net loss attributable to Paycor HCM was $93.2 million, compared to $119.6 million for fiscal year 2022.
• Adjusted net income attributable to Paycor HCM* was $66.8 million, compared to $35.9 million for fiscal year 2022.
*Adjusted operating income and adjusted net income attributable to Paycor HCM are non-GAAP financial measures. Please see the discussion below under the heading "Non-GAAP Financial Measures" and the reconciliations at the end of this press release for information concerning these and other non-GAAP financial measures.
Business Outlook
Based on information as of today, August 16, 2023, Paycor is issuing the following financial guidance:
First Quarter Ending September 30, 2023:
• Total revenues in the range of $138 - $140 million.
• Adjusted operating income* in the range of $9 - $10 million.
Fiscal Year Ending June 30, 2024:
• Total revenues in the range of $644 - $650 million.
• Adjusted operating income* in the range of $97 - $100 million.
*We are unable to reconcile forward-looking adjusted operating income to forward-looking loss from operations, the most closely comparable GAAP financial measure, because the information needed to provide a complete reconciliation is unavailable at this time without unreasonable effort.
Conference Call Information
Paycor will host a conference call today, August 16, 2023, at 5:00 p.m. Eastern Time to discuss its financial results and guidance. To access this call, dial 1-877-407-4018 (domestic) or 1-201-689-8471 (international). The access code is 13736723. A live webcast and replay of the event will be available on the Paycor Investor Relations website at investors.paycor.com. ..."
https://investors.paycor.com/news-releases/news-release-details/paycor-announces-fourth-quarter-and-fiscal-year-2023-financial
Paycor HCM (NASDAQ: PYCR), a major North American partner of Grosvenor Technology, has just announced its fourth quarter & full year results today, after close of the US markets.
And both should buoy the confidence of NWT shareholders:-
"Paycor Announces Fourth Quarter and Fiscal Year 2023 Financial Results
August 16, 2023 at 4:15 PM EDT
• Total revenues of $140.0 million, an increase of 26% year-over-year, while expanding margins
• Q4 Recurring revenue of $129.0 million, an increase of 18% year-over-year
• FY’23 Total revenues of $552.7 million, an increase of 29% year-over-year
• FY’24 revenue guidance of $644 - $650 million, an increase of 18% year-over-year at the top end of the range
CINCINNATI, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of human capital management (“HCM”) software, today announced financial results for the fourth quarter and full fiscal year 2023, which ended June 30, 2023.
“Paycor delivered strong revenue growth of 26% for the quarter and 29% for the year, driven by continued robust demand for our open, modern HCM solution,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “Our team executed exceptionally well against our strategic growth initiatives, namely increasing Tier 1 sales coverage to 36% and expanding effective PEPM by 11% this year.”
“We are proud of the operational performance across the business, which delivered nearly 400 basis points of margin expansion year-over-year and positive adjusted free cash flow while continuing to invest in innovative technologies that empower frontline leaders. We are demonstrating the scalability of our business model and believe there is significant opportunity to drive further leverage.”
Fourth Quarter Fiscal Year 2023 Financial Highlights
• Total revenues were $140.0 million, compared to $111.0 million for the fourth quarter of fiscal year 2022.
• Operating loss was $31.7 million, compared to $30.1 million for the fourth quarter of fiscal year 2022.
• Adjusted operating income* was $15.4 million, compared to $9.2 million for the fourth quarter of fiscal year 2022.
• Net loss attributable to Paycor HCM was $29.4 million, compared to $23.8 million for the fourth quarter of fiscal year 2022.
• Adjusted net income attributable to Paycor HCM* was $13.4 million, compared to $6.9 million for the fourth quarter of fiscal year 2022.
*Adjusted operating income and adjusted net income attributable to Paycor HCM are non-GAAP financial measures. Please see the discussion below under the heading "Non-GAAP Financial Measures" and the reconciliations at the end of this press release for information concerning these and other non-GAAP financial measures. ..."
https://investors.paycor.com/news-releases/news-release-details/paycor-announces-fourth-quarter-and-fiscal-year-2023-financial
"Integrating Physical with Digital Security: A Comprehensive Approach to Business Safety
... In the realm of cybersecurity, physical security aims to minimise risks to information systems and data. Access to systems, equipment, and operating environments should be limited to authorised individuals, virtually and physically.
Why Should the Two Approaches Work Together?
The physical and digital realms are too interconnected to adopt separate protection strategies. If there is a gap in entrance control, for example, a criminal can easily install viruses or malware in a company’s network using a simple USB. If a hacker can access an air conditioning system, they can increase the temperature to the point of rendering network servers inoperable, causing massive disruptions to the operations. If an attacker can infiltrate the telecommunications of a business, they can interrupt communication with emergency services during a physical attack.
Criminals may use physical access to install hidden devices, such as hardware or network interceptors, to intercept data or conduct surveillance. These devices can capture network traffic, record keystrokes, or eavesdrop on communications.
In today’s interconnected world, where the lines between physical and virtual reality are blurred, physical and digital security is necessary to improve the safety posture of your business.
The Benefits of Integrating Physical and Digital Security
The convergence of cyber-physical security offers numerous advantages:
Cost Savings ...
Improved Incident Response ...
Risk Reduction ...
Cybersecurity as a Foundation for Physical Security ...
Safetell’s Solution
Physical and cybersecurity function as two sides of the same coin. Each has a unique, overlapping role to play in the overall protection of a business, its employees, its customers, its assets, and its data.
If you would like to improve the safety of your workplace, get in touch with Safetell. With decades of experience improving the physical safety of businesses in a number of sectors, we can work with your physical and cybersecurity team to address your concerns and develop bespoke solutions that match your business needs."
https://www.safetell.co.uk/insights/integrating-physical-with-digital-security-a-comprehensive-approach-to-business-safety/
"Integrating Physical with Digital Security: A Comprehensive Approach to Business Safety
09 August, 2023
As more transactions and interactions move online, businesses are increasingly focused on and concerned with cyberattacks. But with the move to the cyber world and the Internet of Things, more devices are being used to connect to the Internet and access sensitive data; businesses have to protect an interconnected web of cyber-physical systems that requires a balance of cybersecurity and physical security.
Mobile devices and physical servers are becoming valuable targets for cybercriminals, and physical and cybersecurity have to go hand-in-hand. Access control, surveillance, and the use of security employees have an important role to play in the protection and monitoring of data and IT systems, and vice versa. In 2023, IFSEC Global found that 36% of IT and security professionals will invest in cybersecurity tools designed to enhance physical security.
A Multi-Faceted Approach To Safety
The main difference between physical security and cybersecurity strategies lies in the assets they protect. Physical security focuses on safeguarding tangible assets like buildings, equipment and people, while cybersecurity focuses on safeguarding intangible assets such as data and networks.
Physical security aims to prevent physical access to assets, whereas cybersecurity aims to prevent digital access. Both strategies employ multiple layers of prevention and detection.
Another distinction is that physical security is location-based, while cybersecurity is not dependent on location. This means that securing physical assets requires different strategies compared to securing information and data.
Physical security encompasses the protection of people, property, and physical assets from various physical risks like violence, theft, vandalism, and terrorism. Common physical security measures include entrance control solutions, security doors, glazing, walling and transfer units.
If physical security and cybersecurity aren’t integrated and function as standalone measures, there is a higher likelihood of successful attacks resulting in theft, economic damage, and the disruption of critical functions.
Physical security plays a role in protecting cybersecurity by limiting access to spaces where data is stored. Conversely, electronic security components connected to the Internet, such as key card door locks and surveillance cameras, can be targeted by hackers.
Physical security is essential for preventing unauthorised access, protecting intellectual property, and mitigating workplace violence, while a robust cybersecurity strategy ensures the security of sensitive data retained by physical systems. ..."
https://www.safetell.co.uk/insights/integrating-physical-with-digital-security-a-comprehensive-approach-to-business-safety/
"Importance of Customised Security Solutions: Safetell’s Approach
09 August, 2023
Businesses across the UK are always at risk of crime, from threats from the public to burglary to terrorism. Over 600,000 crimes and over 100,000 burglaries are reported against businesses and commercial properties in the UK every year.
Implementing security measures such as security doors, entrance control solutions, and security screens can have a great impact towards protecting your staff, your building, and your assets, but a one-size-fits-all solution won’t be sufficient in every single scenario. You may need a bespoke solution that takes your specific business needs into account.
Why Is a Customised Solution Necessary?
While many companies are selling ready-made security solutions, typically limited to one type of product, they aren’t always suitable for your organisation’s needs. Here’s why a bespoke security solution is the best approach for most companies:
Address Specific Needs ...
Ensure Compliance with Regulations ...
Allows Optimal Resource Allocation ...
Enhances Effectiveness ...
Easy Integration with Existing Systems ...
Future Scalability ...
Why Choose Safetell?
One of the key advantages of Safetell’s bespoke solutions is their commitment to understanding the unique needs of each client. Rather than providing generic products and services, Safetell’s multi-disciplined team engages in a detailed design phase, working closely with clients to outline principles and processes. This collaborative approach ensures that every aspect of the project is tailored to the specific requirements of the business.
By taking the time to understand the client’s objectives, challenges, and site conditions, Safetell is able to offer comprehensive solutions that address their specific security concerns.
Customised Solutions ...
Strong Relationships
Successful Installations ...
Get In Touch With Safetell
Safetell has made hundreds of businesses in the private, public and retail sectors a safer place to work for more than 30 years. If you are interested in securing your business, get in touch with one of the experts at Safetell today, or request an obligation-free quote."
https://www.safetell.co.uk/insights/importance-of-customised-security-solutions-safetells-approach/
Three more excellent articles have just been added to Safetell's website, highlighting the excellence of the company's offering:-
"The Evolution of Physical Security Measures in the UK
09 August, 2023
Over the years, the United Kingdom has witnessed a significant evolution in physical security practices, driven by changing threats (including the risk of terrorist attacks and an increase in violent crime), technological advancements, and an increased emphasis on safety.
Roughly 69.2 crimes are being committed against UK businesses every single hour, which is why physical security is a priority for every company. Let’s take a look at how security has evolved.
Locks and Bars ...
Safes ...
The Rise of Bullet and Attack Resistant Screens ...
Security Doors ...
Hostile Vehicle Mitigation ...
The Advent of Digital Security Systems
As technology rapidly advanced, the UK witnessed a paradigm shift in physical security measures with the emergence of digital security systems. Traditional physical barriers, while effective to some extent, were now complemented by sophisticated electronic surveillance, access control, and alarm systems. These digital security solutions revolutionised the way security is managed, monitored, and responded to.
Digital security systems encompass a wide range of technologies, including closed-circuit television (CCTV), biometric access control, intrusion detection systems, and remote monitoring. CCTV cameras, in particular, have become ubiquitous in public spaces, commercial premises, and residential areas, providing real-time monitoring and evidence-gathering capabilities.
The Safetell Difference
Safetell has been keeping businesses in the public and private sectors safe for more than 30 years. Both safety technology and crime have changed over the years, and so have we. We’ve not only kept up to date with the latest innovations; we’re proud physical safety pioneers.
If you would like to know more about improving physical safety for your business, get in touch with one of our experts today."
https://www.safetell.co.uk/insights/the-evolution-of-physical-security-measures-in-the-uk/
Some more great news about a further impressive strengthening of the GT team:-
"Insights | Company News
Growing Together
Introducing fresh talent to Grosvenor Technology
Colin Leatherbarrow
Managing Director
Grosvenor Technology has strengthened its development team by appointing Bobby Dykes as Mechanical Design Engineer. Bobby will have full oversight and authority of all mechanical design projects reporting to Stephen Woolhead, our Head of Development. He has had a varied career specialising in injection moulding for various applications in both the retail and travel hospitality industries. His skills in this area prove to be a huge asset to Grosvenor as our clocks are mainly injection moulded and require the highest design standard.
Commenting on his appointment, Bobby said he was excited to develop new clocks with a great look and feel, always with a mind on manufacturing techniques to ensure a good mechanical born cost. He is currently working on a new HCM solution from concept and internal ideas to customer feedback and onto full production. This will be a nice addition to our product entry range, allowing us to diversify and reflect emerging market needs that will continue to improve time management and HR protocols within businesses.
Bobby is looking forward to making the role his own and introducing new features to the clocks that improve their functionality for clients and create a fresh look and feel to market-leading economical and environmentally made projects.
Colin Leatherbarrow, Managing Director of Grosvenor Technology said “Bobby brings a much-needed wealth of relevant mechanical design experience. Grosvenor’s forward-thinking and modern approach to hybrid working and employee wellbeing was a key factor in drawing in this new talent. We look forward to witnessing his growing connections and contributions to the team”.
Please join us in welcoming Bobby to the team."
https://www.grosvenortechnology.com/insights/growing-together-introducing-fresh-talent-to-grosvenor-technology/
Welcome Bobby.
"Live long and prosper" on GT's 'trek to the stars'.
"Summary of the ACS Crime Report
09 August, 2023
... Burglary and Organised Crime
While a significant number of incidents are opportunistic in nature, 65% of retailers believe that incidents involving organised crime groups have increased in the past year as well. There have been more incidents of distraction theft (59%), gangs targeting local sites (36%), coordinated shop theft (27%), distribution fraud (14%) and theft from delivery vehicles as well (14%).
At the same time, not all retailers report crime. Only 16% of all retail crime is reported to the police due to the:
• a perceived lack of interest from the police,
• a lack of confidence in the willingness or ability of the police to follow up their investigation, and
• the time and effort it takes to file and process reports, as stated by participants.
Crime Prevention
Many retailers are taking a proactive stance to protect their business. As the report states, “Every pound invested by a business in preventing crime increases the feelings of safety and positivity among local citizens about their communities.” ...
Safetell has decades of experience in the convenience retail sector and is a leading provider of state-of-the-art security solutions tailored for various sectors. ...
Speak to an expert today
If you believe that your store could benefit from security screens, partitioning, or doors, reach out to Safetell without delay. Our expertise in the industry enables us to provide top-notch solutions that meet your needs and deliver the protection you need. Let Safetell help you safeguard your business and assets effectively."
http://www.safetell.co.uk/insights/summary-of-the-acs-crime-report/
It's sad to read that the upsurge in retail crime is continuing.
But great that NWT is able to assist so robustly:-
31st Jan 2023 7:00 am RNS Half-year Report
" ... We have also seen significant demand for our safety screens in the retail sector given the current economic climate and the need to protect their staff. We are pleased with the progress made so far as we delivered two large retail projects in H1 FY23, with another one secured for H2. ..."
https://www.lse.co.uk/rns/NWT/half-year-report-22phs4l5im1fv8m.html
"Summary of the ACS Crime Report
09 August, 2023
The Association of Convenience Stores (ACS) have recently released the results of their annual crime survey. The survey, which was conducted between 13th February and 31st March 2023, examines the incidents and cost of crime experienced by convenience retailers over the past 12 months. Here’s what they found:
The Cost of Crime Is Increasing
The vast majority of retailers surveyed (79%) say they believe the cost of living crisis has led to an increase in theft. More than 1.1 million incidents of shop theft were reported in the past year. Crime against convenience stores costs the industry more than £125 million, or £2,574 per store. Consumers are effectively paying a crime tax of at least 6p per transaction.
This figure doesn’t reflect the additional investment convenience retailers have made in crime prevention in 2022. More than £ 228 million has been spent on safety measures in the last year, or £4,698 per store.
Crime not only takes a toll on businesses financially; it can have a negative impact on their staff as well. As Jenny Alleyne, Co-op, Head of Operational Risk & Compliance, says in the report, “The increase in prolific and persistent offenders across retail is having a detrimental impact on the wellbeing of our colleagues as they strive to run brilliant stores in local communities. The fatigue from this persistent pressure from thieves leaves colleagues frustrated, helpless and feeling tense in their working environment.”
Violence and Verbal Abuse
According to the report, there were more than 41,000 incidents of violence reported in the sector, including more than 8,800 incidents of robbery. 13% of these incidents resulted in injury. These incidents are often triggered by staff encountering shop thieves, attempting to enforce age-restricted sales policies or a refusal to serve intoxicated customers. 25% of retail workers believe that incidents of violence have increased in the past 12 months. Knives were present in 44% of all violent incidents, 55% other weapons (axes, syringes, hammers) were present, and firearms were present in 1% of all instances.
Incidents of anti-social behaviour are another area of concern. 87% of workers have experienced verbal abuse in the past year, and 759,000 incidents of verbal abuse were recorded in 2022. More than a third (34%) of these incidents were hate-motivated.
The report states while violent incidents have decreased since the pandemic, “levels of violence remain unacceptably high”.
Customers have been impacted negatively as well as 36% of customers have witnessed incidents of violence or abuse towards staff. More than a third of customers have stated they feel more anxious when they shop. ..."
http://www.safetell.co.uk/insights/summary-of-the-acs-crime-report/
"What Are GT Services?
... GTConnect further ensures compliance with all UK GDPR data regulations and US and international data legislation by recording consent of PII collection and providing tools to both facilitate information requests and erase PII, effectively de-risking your business from fines and litigation.
What are the benefits of GT Services?
Lower Costs
GT Services will decrease the total cost of ownership of your devices. Here’s how;
• Hardware Costs
First and foremost, our devices are specifically designed for high footfall, always-on environments with longevity and reliability in mind. As a result, they’ll give you much greater reliability and life span than other devices or tablets. Plus, each device is covered by GTProtect’s subscription warranty – guaranteeing your future costs.
• Admin and Legal Costs
GTConnect, in combination with our latest devices, ensures your client is fully compliant with data protection laws worldwide by encrypting data and enforcing processes surrounding consent, storage and deletion. Not only does this considerably lower the time and effort needed to ensure their own compliance when handling PII, but more importantly, it reduces the chances of breaking the law and incurring related fines or compensation and associated reputational damage.
• Development and Operational Costs
Our fast and simple integration approach allows your clients to save on the development costs of connecting their devices to their platform. As GTConnect manages the individual connections to the devices and provides data transfer via a single connection, hosting and operational costs are significantly reduced.
Minimal Downtime
With our experienced support team on hand and the option for next-day hardware delivery, there is limited downtime and disruption to your clients should a device malfunction.
Increased Efficiency
Managing your estate globally via GTConnect ensures configuration and updates are efficiently applied, reducing onsite engineering and support visits and associated costs.
If you and your clients would benefit from priority support, guaranteed replacement hardware and super secure data, speak to us about GT Services. It’s the most effective way to reduce your costs, increase efficiency and minimise downtime.
To learn more, click here or get in touch by calling 01202 621700 or emailing hcmsales@grosvenortechnology.com."
https://www.grosvenortechnology.com/insights/what-are-gt-services/
Another useful new article just added to Grosvenor Technology's website:-
"Insights | Human Capital Management
What Are GT Services?
GT Services provides priority end-to-end technical support, and access to our remote data and device management platform.
Ben Lagden
Commercial Director
In a nutshell, GT Services are the services we provide to enhance and complement our HCM solutions. It covers a host of aspects, including a lifetime warranty, access to Grosvenor Technology’s secure cloud platform and on-hand 24/7 tech support.
This subscription-based service means that for one low-cost monthly payment, your device or devices will be protected and supported for the duration of their lifetime. It’s a smart way to reduce your total cost of ownership while benefiting from priority support.
Here’s a little more about each aspect that makes up GT Services.
GT Protect
By subscribing to GT Services, you can take advantage of our exclusive hardware warranty. With this, we guarantee to supply you or your clients with a brand-new, latest-generation HCM solution if a fault or defect occurs with the existing device. Better still, we send the replacement device via next-day delivery directly to where it is needed so it can be installed as soon as possible.
GTProtect also entitles you (or your clients) to priority technical support on the devices – which come with guaranteed SLAs. Whether they require a little assistance when installing or replacing a device, need help troubleshooting, or want to access our remote diagnostic tools, our tech support team is just a quick call or email away.
GTConnect
GTConnect is a cloud-based platform that integrates your devices into a single network, allowing real-time remote diagnostics and data management. Signing up for GT Services grants you and your clients access to GTConnect and the following powerful features:
Device Management
Our management platform allows you to diagnose, recover and update devices remotely. This feature manages devices individually or multiple devices organised by your chosen structure to push out updates and configuration, all at the click of a button.
Data Management
Our “Clock to Cloud” middleware makes it easy to integrate our devices with your chosen software. Subsequently, all data captured to and from the devices is securely transferred and transformed via a single connection, ensuring a seamless system enabling real-time business decisions as and when you need them.
Identity Management
Our platform, combined with our latest devices, ensures all Personally Identifiable Information (PII), including biometric data, is encrypted and protected from the moment it’s collected. ..."
https://www.grosvenortechnology.com/insights/what-are-gt-services/
"What is the UK inflation rate and why is it so high?
6 days ago Comments
The rate at which prices are rising fell to 7.9% in the year to June, down from 8.7% in May.
Food inflation on items like sugar, olive oil and cooking sauces has come down, although remains high at 17.3%.
To help slow price rises, the Bank of England has increased interest rates 13 times to 5%. ...
The Bank of England has a target to keep inflation at 2%, but the current rate is well above that. ...
The Bank of England has predicted inflation will drop to 5% by the end of 2023, rather than the 4% it had been anticipating.
Bank governor Andrew Bailey said it was "crucial that we see the job through" and get price rises back to the 2% target, because people "should trust that their hard-earned money maintains its value".
But he admitted that price inflation was being "more sticky than previously expected". ...
What's happening to inflation and interest rates in Europe and the US?
... The annual inflation rate for countries which use the euro was estimated to be 5.5% in the 12 months to, June down from 6.1% in May. ...
Inflation has also dropped back in the US. It was 3% in the 12 months to June, down from 4% in May, the 12th consecutive monthly fall. ..."
https://www.bbc.co.uk/news/business-12196322
Looks like America has its inflation challenge well under control: like us they have a 2% inflation target, and the way things are going they should soon be there.
In contrast, we are still struggling, with an inflation rate over two and a half times higher than America's.
So I rest my case about the US being a better investment than the UK.
Unless you hate money, why choose poor performance over great performance?
Perhaps a sense of patriotism, if you are wealthy enough to afford such a luxury?
But fortunately with NWT, you can have it all: great American growth exposure, at a bargain basement price, but also supporting a great British company, with substantial UK operations.
It's not often in life that you can have your cake and eat it, so for struggling investors, I say - "Let them eat cake!"
... of NWT's multiple revenue streams and assets.
So I suppose the '$64,000 Question' - or perhaps I should say a '64 million pound question' - is why is NWT so cheap?
Well, I think this is largely a reflection of the fact that small cap. AIM is a very 'imperfect market', in which quite bizarre and extreme valuation anomalies can sometimes persist for quite a while, before value eventually outs.
SaaS (software as a service) revenues tend to be very highly valued, especially when combined with other positive traits, as set out in the article below:-
"SaaS Valuation: How to Value a SaaS Company in 2023
By SaaS Academy ...
The Valuation Formula: How is SaaS valuation calculated? ...
The metrics involved are:
• ARR (business size)
• Growth rate (momentum)
• Net revenue retention (product quality)
• Gross margin (profitability)
The formula is:
Valuation = ARR x Growth Rate x NRR x 10.
Once you have this number, you adjust it based on the gross margin.
Let's use an example to make it easy to understand.
A SaaS business has an ARR of $7m. Their growth rate is a steady 55%, with an excellent NRR of 115%. Plugging that into the valuation formula gets us:
Valuation = (7 x 55 x 115 x 10). This implies a valuation of $44m or x6.3.
But remember, we need to adjust for gross margin. We can calculate gross margin as (Revenue minus Cost of Goods Sold) / Revenue.
So, if revenues were $7m and costs were $1, we have (7 - 1) / 7 = A gross margin of 86%.
This figure is above the average SaaS growth margin of 75%, which means we can increase our valuation multiplier.
Of course, we should remember this formula is very straightforward. More reliable SaaS valuations will need to account for several other metrics. ..."
https://www.saasacademy.com/blog/saas-company-valuation-metrics
"Net revenue retention is the cumulative total of retained, contracted, and expanded revenue over a set period, typically one month or one year."
https://churnzero.com/churnopedia/net-revenue-retention/#:~:text=Net%20revenue%20retention%20calculates%20total,SaaS%20or%20subscription%2Dbased%20business.
NWT's NRR should be very high, because of its 'HeSaaS' business model, its 'best-of-breed' status, the importance of its offering, and its high growth rate. And the 98% customer retention rate of its MHR software partner supports this view.
Assuming an annual 'churn' rate of say 2%, this gives a NWT NRR of 229%, calculated as follows:-
£0.9M. April 2022 ARR + £1.3M. ARR increase to April 2023 - £42K. churn = £2.058M.
Divided by £0.9M. = 229% NRR.
Which would be a quite outstanding NRR:-
"Across SaaS and subscription-based companies, anywhere above 100% is considered a good net revenue retention rate ..."
https://churnzero.com/churnopedia/net-revenue-retention/#:~:text=Net%20revenue%20retention%20calculates%20total,SaaS%20or%20subscription%2Dbased%20business.
And using this NRR for our SaaS valuation gives a base valuation of £63.96M., calculated as follows:-
£2.1M. ARR x 133% growth rate x 229% NRR x 10 = £63.96M.
And this value can be increased further if the gross profit margin is above the average of 75%, which it should be for NWT.
This compares to NWT's current market cap. of just £5.015M. at 53.5p.
Plus of course this is just a valuation for NWT's HCM ARR, which is just is just one o
17th may 2023 7:00 am rns year-end trading update
"... an update on trading for the year ended 30 april 2023 ("fy23"), reaffirming the company's return to profitability.
... -- human capital management ("hcm") annualised recurring revenues* ("arr") increased by 133% year-on-year to gbp2.1 million for april 2023, positively contributing to profit margins. ...
*arr is calculated by annualising revenue recognised in a given month from all clients on deployed hcm subscription contracts. .. "
https://www.lse.co.uk/rns/nwt/year-end-trading-update-5xr1fml6a08a34o.html
from nwt's investor meet company presentation slides, 8th. february 2023; from slide 15:-
"# connected clocks (at apr year-end) growth plan
2018 500
2019 3,000
2020 5,000
2021 7,000
2022 13,000
2023 22,000
2024 34,000
2025 54,000"
https://www.investormeetcompany.com/
dab2 17 may '23 - 17:08 - 96 of 167 0 2 0
" ... if you check out the investor meeting presentation (video available through the investor relations website then into the investor meet company site), then head to 23mins into the video we get to see one of the only projections the company have shared in recent times. here we see clocks grow from 5k in 2020, 7k in 2021 (growth constrained by the pandemic), 13k in 2022, 22k in 2023, 34k in 2024 and 54k in 2025. again as this income lags we could be looking at 3 to 4 times arr in the next 3 years. ..."
https://uk.advfn.com/cmn/fbb/thread.php3?id=51208456&from=96
so nwt's hcm arr could be up to c. £8.4m. in its year ending 30.4.26, and growing rapidly.
what about the profit from this revenue stream?
well, nwt's new 'five minute pitch' to investors this week confirmed, for the first time, just how high the profit margin on this revenue stream is:-
"we are cash-generative; operating with high margins: 50% on hardware, and much more on software. ..."
https://newmarksecurity.com/
i would take that to mean a gross margin of c. 80% - 90%, as nwt is best-in-class:-
"according to a 2022 benchmark report by finmark, the median saas gross margin percentage is between 70-80%. the best-in-class saas companies would have a gross margin of 80-90%."
https://startupvoyager.com/saas-gross-margin/#:~:text=typically%2c%20saas%20business%20models%20allow,margin%20of%2080%2d90%25.
applying a gross margin of say 85% to arr of £8.4m. would give a gross hcm arr profit of £7.14m. p.a., and growing rapidly.
and a couple of years further on from that (i.e. nwt's year ending 30.4.28), the amount could potentially be double that.
this compares to nwt's current market cap. of just £4.92m. at 52.5p.
plus of course the hcm arr is just one of nwt's multiple revenue streams.
suffice to say that if these numbers are met, then nwt should be going to the moon.
the share is a quite intoxicating ****tail of value and growth, and i cannot remember ever being this excited about a share, in decades of investing.
"GT CLOCKS
PEOPLE AND DATA MANAGEMENT
From our humble beginnings, we now have operational hubs in both the US and Europe and clients across the globe. Our products and services have changed over time, but our philosophy remains the same; to be the supplier of choice for HCM partners seeking reliable and technologically advanced edge devices, data-entry terminals, or ‘timeclocks’ as many of our customers still call them. We don’t mind; we like being the ‘clock guys’.
We pride ourselves on the talented individuals that make GT Clocks different. From Operations through to Sales and Development we work collaboratively to deliver much more than just secure, smart environments."
https://gtclocks.com/about-us/
"Edge computing
... Edge computing is a distributed computing paradigm that brings computation and data storage closer to the sources of data. This is expected to improve response times and save bandwidth.[1] Edge computing is an architecture rather than a specific technology,[2] and a topology- and location-sensitive form of distributed computing. ...
Efficiency
Due to the nearness of the analytical resources to the end users, sophisticated analytical tools and Artificial Intelligence tools can run on the edge of the system. This placement at the edge helps to increase operational efficiency and is responsible for many advantages to the system. ..."
https://en.wikipedia.org/wiki/Edge_computing
"Clock as a Service
Our unique ClaaS offering
A Lifetime Of Accuracy & Management
When you invest in our ClaaS program, your timeclock is covered by our no-quibble lifetime guarantee. For the duration of your subscription, you will have the peace of mind that any device that develops a fault will be repaired or replaced, no matter if it has been deployed for one year or ten.
Alongside the reassurance that we give you in your hardware, you also receive lifetime access to our team of product specialists through our dedicated technical support lines, so if you face an issue with your device, one quick call or email puts you in touch with a dedicated team of problem solvers.
And lastly, as a subscriber, you can take advantage of GTConnect, our Platform as a Service (PaaS) that provides total data management, device management, and identity management, ensuring total regulatory compliance and a highly secure environment.
You can enjoy any timeclock bundled with our exceptional services for one low-cost monthly fee.
Get in touch to find out more"
https://www.grosvenortechnology.com/product/clock-as-a-service/
"GTConnect
Data and device management made simple
Unified Data & Device Management
Create a simplified management protocol with GTConnect. This cloud platform connects your HCM devices and your software, building an integrated network. This enables remote diagnostics and data management across all connected devices in real time.
GTConnect is a subscription service designed to streamline your Human Capital Management processes and reduce your technology and data challenges. With GTConnect, your workforce management is simple."
https://www.grosvenortechnology.com/product/gt-connect/
So NWT is developing 'New Markets', with a really 'SaaSy' & 'ClaaSy' offering:-
"Human Capital Management
As the Human Capital Management (HCM) sector continues to grow, Grosvenor Technology has kept pace.
Grosvenor Technology has developed a full suite of cutting-edge solutions that meet the changing needs of its clients. What started as simple time and attendance tracking, over the years, the company’s offerings have expanded to encompass all aspects of workforce management, enabling higher degrees of employee engagement and productivity.
Advanced hardware, specifically timeclocks, are at the core of Grosvenor’s product portfolio. These formed the foundation of Grosvenor’s offering from the outset, but it was the addition of integrated provisioning software that propelled the solution into the mainstream, where clients were keen to adopt a comprehensive solution to manage their human capital and access control needs."
https://newmarksecurity.com/our-business/
"Clock as a service (CLAAS)
Our business strategy focuses on generating a higher degree of recurring revenues through the promotion of SaaS and further development of our unique Clock as a Service (ClaaS) offering. With ClaaS, hardware, software, and support services are bundled together under a subscription model, providing clients with a convenient and cost-effective solution for managing their HCM needs."
https://newmarksecurity.com/our-business/
"Point of presence in a mobile-led world
... Accuracy
When it comes to punching-in and out, geofencing technology is often applied to prove a point of presence. But we’ve all been in a big city with high rise buildings where our Google Maps or car navigation system is wildly inaccurate, showing our location maybe several streets away.
A large part of the value proposition for time and attendance solutions is accuracy and cost-saving, the solution should deliver fast ROI. By ensuring staff are ready to work when they punch in rather than walking to work or maybe still in the break room a significant walking distance away can significantly impact these savings, particularly when multiplied per employee, several times a day and 365 days a year!
In summary, time clocks offer significant savings and accuracy over mobile solutions. Especially when you consider the total cost of mobile, BYOD, and MDM ownership, additionally, from a risk perspective, you’ll have a reliable, secure device – designed, tested and certified on your network rather than a multitude of third-party devices varying in age, OS version and security patch level. Your time clock platform will also be continually developed, patched and updated by you via our cloud management platforms, ensuring lower total cost of ownership (TCO) and peace of mind.
If you want to discuss more about mobile adoption, please don’t hesitate to get in touch with us regarding any questions."
https://gtclocks.com/insights/point-of-presence-in-a-mobile-led-world/
And this 2022 article from Grosvenor Technology's 'USA website' explains how time clocks offer significant advantages over mobile solutions:-
"Point of presence in a mobile-led world
Ben Lagden Commercial Director
9 March 2022 2 min read
In this fast-paced digital world in which we live, advances in technology have given us many substitutes for previously manual tasks. Consequently, it’s now impossible to imagine getting through the day without our mobile phones acting as an extension to our own hands. From waking up to the sound of an alarm (or two) to arranging meetings with clients to participating in online video calls, mobile phones have become an integral part of our daily existence. However, the question that often gets raised is where do mobile phones come into play with human capital management systems, particularly workforce management and time and attendance?
Adoption
It may be unbeknown to some, but not everyone owns a mobile device or a smart device that can talk to HCM systems.
As more and more employers encourage the Bring Your Own Device (BYOD) trend, mobile self-service is becoming a great tool; however, not everyone is willing to take this leap. Data privacy is at the forefront of employees’ minds, however relevant that may be to BYOD. With more media attention on cases such as the Cambridge Analytica scandal, it is undoubtedly a factor in adoption.
Employers also may be less keen to promote BYOD in a specific environment such as retail. Does BYOD encourage the employees to use mobiles when the focus should be on customer satisfaction? No one likes to see store employees busy on their mobile when they try to attract their attention.
With that in mind, a time clock is an excellent solution as an alternative for the 20%+ of those who either don’t own a suitable smart device to communicate with the workforce management system or simply don’t want to. And while company mobiles are commonplace in some industries, it’s uneconomical for the majority of businesses.
Security
User adoption is an issue for employers too. Having an employee use their personal device introduces a cyber security risk to an organization. While mobile device management (MDM) platforms can be used to offer varying levels of protection to an organization again; employees may be unwilling to allow the level of control their employer may insist upon as adequate risk mitigation. ..."
https://gtclocks.com/insights/point-of-presence-in-a-mobile-led-world/
" Transforming Enterprise Tech: The Convergence of Cloud and Services
... Device Management
Our comprehensive management platform allows you to remotely diagnose, recover, and update devices with ease. Whether managing devices individually or in groups, you can push out updates and configurations effortlessly, simplifying device maintenance with just a click of a button.
Data Management
Our innovative architecture allows you to connect with your chosen HCM provider with ease. All data transmitted to and from the devices is securely transferred and transformed through a single connection. This ensures a smooth and efficient system, empowering you to make real-time business decisions based on accurate data when you need it most.
Identity Management
The combination of our platform and state-of-the-art devices prioritises the security of Personally Identifiable Information (PII), including biometric data. From the moment of collection, all PII is encrypted and protected, ensuring utmost confidentiality. GT Connect goes the extra mile by facilitating US and international data legislation compliance. It records consent for PII collection, provides tools for information requests, and offers a secure process for PII erasure, significantly reducing the risk of fines and litigation for your business.
What are the benefits of GT Services?
Lower Costs: GT Services help decrease the total cost of ownership for your devices. This includes lower hardware costs due to the reliability and longevity of GT devices, backed by GTProtect’s subscription warranty.
Compliance and Integration: Additionally, GTConnect ensures compliance with data protection laws, reducing administrative and legal costs. The simplified integration approach saves development and operational costs, as GTConnect manages device connections and data transfer via a single connection.
Minimal Downtime: With an experienced support team and the option for next-day hardware delivery, GT Services minimise downtime and disruptions for your clients, ensuring smooth operations.
Increased Efficiency: GTConnect enables centralised management of your device estate, facilitating efficient configuration and updates.This reduces the need for onsite engineering and support visits, leading to cost savings and improved operational efficiency.
To discover more and to contact a member of the Grosvenor team today, click here."
http://newmarksecurity.com/insights/transforming-enterprise-tech-the-convergence-of-cloud-and-services/
" Transforming Enterprise Tech: The Convergence of Cloud and Services
... What are some of the most popular types of services delivered by cloud infrastructure?
Software as a Service (SaaS): This has emerged as the dominant service model within cloud computing. Think of your word processing client, your spreadsheets, your video calling platform – all are forms of SaaS that have taken the place of on-premise installations that require routine maintenance. SaaS providers handle all the backend infrastructure, updates, and security, enabling organisations to focus on their core operations.
Infrastructure as a Service (IaaS): This has also gained real traction due to the cloud revolution. IaaS provides businesses with virtualised computing resources on-demand, including servers, storage, and networking components. The flexibility allows organisations to rapidly scale infrastructure up or down based on their requirements, avoiding the need for substantial capital investments in physical hardware.
Platform as a Service (PaaS): This service gives developers and organisations a development environment that lives in the cloud, allowing them to build, deploy, and manage applications. By utilising PaaS, businesses can shift their focus from managing infrastructure and runtime environments to concentrating on application development and innovation. PaaS providers handle the underlying infrastructure, including servers, storage, networking, and the runtime environment, freeing developers from the burden of infrastructure management.
How are cloud services being used in the workforce management sector?
As with all industry sectors, the emergence of service models on cloud infrastructure has offered several advantages to businesses. As an adaptable and forward-thinking business, Grosvenor Technology has quickly adapted and improved its products and services to reflect this new environment.
At the heart of our GT Services offering is our cloud platform, which enables customers to manage and support their workforce management devices, wherever they are in the world. When you sign up for GT Services, you and your clients gain access to GT Connect and the following powerful features: ..."
http://newmarksecurity.com/insights/transforming-enterprise-tech-the-convergence-of-cloud-and-services/
NWT's website has just added another a new article, again categorised under "Grosvenor "Technology" (though not currently featured on GT's own website).
And it's an excellent exposition of how GT is using cloud services in the workforce management sector.
"Insights
Transforming Enterprise Tech: The Convergence of Cloud and Services
Over the last few years, we’ve seen the convergence of two leading trends in the enterprise technology world – cloud computing and service models such as SaaS, IaaS, and others.
The move to cloud infrastructure was well underway before 2020. Still, it’s fair to say that the pandemic acted as a jumping-off point for businesses which, almost overnight, were tasked with keeping distributed workforces connected and productive.
Cloud services offered the ideal solution for this sudden shift, enabling employees to access critical applications, data, and collaboration tools from anywhere, regardless of physical location. A 2022 report from Statista found that 93% of businesses across Europe, the Middle East and Africa accelerated their move to the cloud because of the pandemic.
Why has the service model become so popular?
As well as flexibility, the rapid adoption of cloud services has enabled businesses to make significant cost savings and offered flexibility that legacy infrastructure cannot. By leveraging cloud infrastructure, enterprises avoid the high upfront costs of building and maintaining their physical data centres. Instead, they can rely on cloud service providers to handle the hardware, networking, and storage infrastructure, paying only for the resources they use.
This shift from a capital expenditure (CapEx) model to an operational expenditure (OpEx) model allows businesses to allocate resources more efficiently and scale up or down as demand fluctuates – a real plus point in these economically uncertain times. This agility has enabled enterprises to be far more responsive to market dynamics, handle spikes in user traffic, and launch new products or services more rapidly.
All of which is to say we’ve seen a marked shift to the services model, where businesses pay a regular fee – monthly, quarterly or annually – to access services. It is in marked contrast to the previously dominant licencing model, where businesses paid for applications that lived on their own computers or servers. It is a generational change, with businesses swapping out complete ownership of their software for the reliability and security of cloud-based services. ..."
http://newmarksecurity.com/insights/transforming-enterprise-tech-the-convergence-of-cloud-and-services/
"Hardware Enabled SaaS : Next generation of SaaS companies
... This is why we believe that Hardware enabled SaaS (HeSaaS), a model where hardware is an integral part of the SaaS offering, can be a logical evolution of the pure play SaaS model for many industries and use cases. HeSaaS manages to circumvent or minimize many challenges faced by SaaS startups. The hardware element acts as an anchor, helping in reducing customer churn by reducing the possibility of customers migrating away to a marginally cheaper or marginally better SaaS. HeSaaS startups doing outright hardware sales are further able to magnify the Lock In Effect. Talent to work on specialized hardware design is also tougher to find, which along with defensible IPs makes it tougher to directly copy the product and greatly reduces commodification risk. HeSaaS model also opens up new or untapped niche markets that couldn’t have been effectively served by a SaaS only model. Hence there has been a lot of interest in this space in recent years.
In the next parts of this series we would be looking at how HeSaaS companies from different industries are operating in the real world and what makes them tick.
Part 2 — Open App : A 21st century solution to a millennia old problem
Part 3 — NeuroEquillibrim : Helping you find your balance
Part 4 — PerFit : Future of 3D scanning
(We at Unicorn India Ventures are always striving to uncover different perspectives in life. We would love to hear your thoughts in the comments below. To hear more from us, follow @unicornIndia on twitter and follow our company page on Linkedin)"
https://medium.com/unicornindia/hardware-enabled-saas-next-generation-of-saas-companies-aa84a0a4d293