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In the US, research published on PYMNTS.com revealed that the value of funds tied up in unpaid SME invoices is $825 billions“ equivalent to 5 percent of the national GDP. Forgive me but I have had a bellyful of the above quoted facts about the size of the problem it harks back to the infamous " trillions billions millions " quote of dear old Edi we KNOW the size of the prize and it just makes all the more confusing and excruciating that we can't seem to take a chunk out of this behemoth of a market? Dear Tungsten BOD , if you want to really impress me maybe start lending out more than a relative tuppence ha'penny in comparison ? Then hey , who knows the SP may start moving up , the SMEs will love us and I may not have to partake in my bi monthly rant ??!! You may think I'm being unfair and I know progress is being made but It is SOOO infuriating!! It's like being told there is the biggest oilfield ever known to man just below our feet and we have so far shaped up like we are trying to get at it with a knife and fork ! ' Will sit down in a dark room now ....
You are so right. Basic execution of what has been essentially the same opportunity since day 1 wil make us Edi's millions. Build up the invoice flow with volume more important than price Lend the suppliers the money What's so difficult that we need a hugely expensive digital command centre to make that happen?
You are so right. Basic execution of what has been essentially the same opportunity since day 1 wil make us Edi's millions. Build up the invoice flow with volume more important than price Lend the suppliers the money What's so difficult that we need a hugely expensive digital command centre to make that happen?
I don't like to say this, but I think we need to hold our breath and give them until the end of this FY to demonstrate that they have turned things around. I took a lot of comfort from the news that they have re-imagined their financing offering to include both receivables and payables financing. The lack of full book financing was always my biggest concern with the success of the financing product and with these changes they will need time to demonstrate traction. We have also heard a lot about the tech investments they have made to automate sales and reduce implementation lag. We also have the new approach to analytics and the foreign exchange product to source revenue form Therefore, I will look for the upcoming half year update to provide the base line from which success will be judged at the year end. If it is not high octane by then, I fear it will never be and a trade fire sale will be the only exit. However, I sit here today thinking my cup is half full.
@hmmmm I don't think it's a hugely expensive command centre. It's got be a comical description for a couple of people who just send out press releases. @burnt Keeping faith looks the right way to go here but the half year results are important. The thin finance announcement suggests to me they've had no traction with the current solution and that is still disappointing. The timing of their new service, just before the half year results is very convenient. Is it buying more time or just a coincidence? Either way, end of year results will be the proof. Hopefully this version gets things moving. Personally, I think their Analytics solution will prove to be a dud. They've had a good 2 year run flogging this. However, their change of strategy gave them more time and surely we should expect to know if this is ever going to be used in these half year results. Therefore, this an important update. The half year results should also show some kind of indicator for the FX service. Yes it's early days and I agree the end of year should be the true metric but I feel they must have some traction. We'll also find out how they are getting on with invoicing. The OB10 crowd proved you could get sales and steady growth. However, the people I've spoken to say none of the key people are left. Everyone single one of note has left. The worry is whether the new blood and the ones who have remained can they kick things on. Given the target to reduce costs as well, it's a big challenge for that team. You make a good point on their tech. Given their 15 month plan plus whatever Prabhat had added, it seems like it's going to have been a costly half year with more to come. I like what Rick has been sayng and his recruitment of Prabhat seems a smart move. However, I'm not sure on this CTO. He seems to be more marketing than tech. Plus, his reputation doesn't fill me with confidence when you're responsible for leading a tech overhaul. He was part time too (not sure if he still is). They must be starting to reap some of the benefits of the tech though. It will be interesting to see the impact it is making.
(Disclosure - long tung for probably too long) Q - what is the difference between a couple of marketing people and a 'digital command centre' A - probably ~70k pa On the CTO, it does not matter if he is part time as long as there is someone delivering operationally. Form what I can see, not sure there is.
Hmmmm "What's so difficult that we need a hugely expensive digital command centre to make that happen?" The short answer is, we don't! The difficulty was that the old system evolved over time, was fragmented, inconsistent and served different customers on different platforms with different service level agreements. The answer was to take all the requirements of the old system and rebuild on a consistent platform in an efficient and more productive way. We needed to upgrade the system, so we can market it, get the new business and scale up revenue, without the corresponding rise in expense that we previously needed to take on new business. It just so happens that the digital command centre is one of the products of the whole exercise, not the only product. That's my view anyway.
Whenever I see a phrase like digital command centre I smell BS. As for systems not being good enough, it is one of those difficult things to prove. The research and prospectus all said that the OB10 system was the bespoke Rolls Royce of the e-invoice world. It did eveything you wanted. Perhaps too slowly? But why cannot Tungsten use its own system to send out bills? Why not discoount its own invoices? Cannot undersatnd why the unpaid bills keep mounting up. Mr Williams?
Hmmm "Whenever I see a phrase like digital command centre I smell BS." They have to have some name or other for what they are selling. If that triggers some prejudicial sentiment, that's unfortunate. "As for systems not being good enough, it is one of those difficult things to prove." I'm not trying to prove anything. I simply repeat what I was told at the CMD and the AGM. Believe it or not, as you will. "The research and prospectus all said that the OB10 system was the bespoke Rolls Royce of the e-invoice world. It did eveything you wanted. Perhaps too slowly?" Perhaps it did. I have not read the prospectus. Perhaps the prospectus was trying to make the float look attractive? " But why cannot Tungsten use its own system to send out bills? No idea. I presume Tungsten Network is on Tungsten Network, but to be honest, I never thought to ask. " Why not discoount its own invoices?" Clearly, that makes no sense. "Cannot undersatnd why the unpaid bills keep mounting up. Mr Williams?" What unpaid bills are mounting up? If you have some dirt to dish up, I'm happy to consider your evidence. I won't be holding my breath though. Sounds like typical TWaddle.