I have a good regard for the Chairman, Paul Reynolds. He...

I have a good regard for the Chairman, Paul Reynolds. He certainly understands the corporate world on the international stage very well with proven experience as a CEO in dealing with large companies that have faced restructuring and changes in their market (British Telecom Wholesale and NZ Telecom). This means that he can give very good guidance in relation to dealing with the corporates that make up 9SP's clients (PWC, RBC, SunCorp, IBM etc).
I was pleased to see that 9SP has been reducing its outgoings because that was something of a concern to me.
I particularly liked the company's more recent focus on the new banking interface standards. After all, this company is all about interfacing to banks and other parties that also interface with banks. 9SP needs to become a leader on this front because it also opens the door to competition.
Others have commented on the long term nature of 9SP's client agreements (6 years or so) and their business model which means that their clients market 9SP's product at their own expense and so 9SP get new end users at no outlay but gain revenue from each end user. Of course the banks/accountants also get value from the integrated service (dashboard) that they offer their own customers. In other words a win-win for 9SP and its clients.
To me, this is a company to pick up at an early stage of development and hold for a few years. Whether revenue grows sufficiently to avoid another share issue over the next 12 months is a moot point but for an early stage tech company, that is not unusual and so long as their revenue growth continues this is not a serious issue. I do expect some lumpiness in revenue and sales, however, especially in the near term when their client base is still small. Nevertheless, in view of their business model, revenue should continue to increase from existing clients, in view of the multiplier factor for end users since they have large companies as clients that have many potential end users.