FY19 RESULTS PRESENTATION - ASX: RDY - ReadyTech
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RESULTS PRESENTATION FY19 ASX: RDY Marc Washbourne – CEO Nimesh Shah - CFO
AGENDA
Key Financial and Operational Highlights 3
Growth and Product Strategy 7
Group Financial Results 14
Outlook 21
Appendix 22
Key Financial and Operational Highlights
PRO-FORMA PRO-FORMA PRO-FORMA
FY 19 REVENUE EBITDA NPATA
Exceeded
prospectus
$33.0 m
$12.8 m
$5.7 m
forecast
VS Prospectus forecast: +1% VS Prospectus forecast: +1.5% VS Prospectus forecast: +9.7%
YOY%: 13.5% YOY%: 20.8% YOY%: 33.6%
OPERATING
AVERAGE CASH FLOW
CLIENT
CLTV* REVENUE PER REVENUE
to CAC* CONVERSION
CLIENT RATIO
RETENTION
6.9 x
FY18 = 5.8x
$8.9K 98 12% (YoY)
% 96 %
CLTV: Client life time value and CAC: Customer acquisition costs
ReadyTech FY19 results - P 3
ACHIEVEMENTS KEY ACHIEVEMENTS IN FY19
CLIENT GROWTH CUSTOMER INVESTMENT PARTNER
GROWTH IN ARPC SUCCESS IN R&D NETWORK
• Record new business • Continued growth (12% •M
aintained strong net client • Over $10m R&D spend for • Increased footprint of
volumes with over 400 growth YOY) in ARPC revenue retention of 96% product improvements and new partner network including
client wins through additional modules modules & customer value Canvas and Go1 for
and increase in user • Increased headcount education and HR and
• Attracting new and higher subscriptions investment in the customer • In the education segment - workforce management
value clients with the spend success function resulting in new customer value includes partners for employment
of new clients won 3.6 • Supported by cross sell strong customer satisfaction enhanced dashboards, to help drive new customer
times greater than those value added services of My scores student services, online referrals to ReadyTech
that churned Profiling and Esher House enrolment and student
(behavioural science) engagement tools • Launch of the ePayroll
• Strong progress in higher partner network to support
education sector and • In the employment segment customer growth through
enterprise strategy – early compliance with Single accountant and bookkeeper
demonstrating success of Touch Payroll (STP) and new networks
the dual brand strategy modules including mobile app,
Financial Controller portal and
onboarding
FY19 Result Exceeds Prospectus Forecasts
FY19 RESULTS
FY19 PRO-FORMA FY19 PRO-FORMA PROSPECTUS FY18 PRO-FORMA FY19 vs FY18
$ MILLION
ACTUAL PROSPECTUS VARIANCE % ACTUAL VARIANCE %
Revenue 33.0 32.6 1.0% 29.0 13.5%
Subscription and
29.7 29.2 1.5% 25.6 15.8%
licence revenue
Implementation, training
3.3 3.4 (3.4)% 3.4 (3.8)%
and other revenue
Expenses (20.1) (20.0) (0.7)% (18.4) (9.3)%
EBITDA 12.8 12.7 1.5% 10.6 20.8%
EBITDA Margin % 39.0% 38.8% 0.2% 36.6% 2.4%
ReadyTech FY19 results - P 5
Financial Snapshot
CONTINUED GROWTH FY19
SCALABLE PLATFORM FY19
IN SUBSCRIPTION &
LICENCE REVENUE 90% SUPPORTS STRONG
EBITDA MARGIN 39%
Pro Forma Revenue ($m) Pro forma EBITDA ($m) and EBITDA margin (%)
$14m 40%
$37m 39%
90%
$3.3m 90% 90%
37%
$12m
88% 35% 35%
$32m
88%
88% $3.3m 88%
$10m
$27m $3.4m 86% 30%
$3.3m $29.7m $8m
85%
84%
$12.8m
26% 25%
$22m
$3.6m $25.6m $10.6m
$6m
$23.8m 82% $9.6m
$20.1m
$17m
80% $4m $6.1m 20%
$12m 78% $2m 15%
FY16 FY17 FY18 FY19 FY16 FY17 FY18 FY19
Subscription and Implementation, training % Subscription and
EBITDA EBITDA margin (%)
licence revenue and other revenue licence revenue
ReadyTech FY19 results - P 6
GROWTH & PRODUCT STRATEGY ASX: RDY
ReadyTech – What We Do
ReadyTech builds mission-critical SaaS and technology for
managing people in complex regulatory environments and delivers
additional customer value through a range of offerings.
Education & Employment
Managing the Student and Employee Lifecycle
Education Employment
Compliance / Regulation ReadyTech
Regulatory Reporting, Statutory Obligations Value Proposition
Market Leading
Productivity & Automation Value Added Services Data & Predictive Analytics Highly Trusted
Relentless Innovation
Workflow Automation, Employee & Employee & Student Business Intelligence & Insights and unique
Student Self-Service Acquisition, Experience, Success and Retention behavioural science capability
Integrations & Interoperability
Supported integrations Large partner network Includes Finance, HR & Learning
& open APIs Management Systems
ReadyTech FY19 results - P 8
Student Management Systems (Education)
ReadyTech provides mission-critical student management systems (SMS) which are at the core of modern tertiary education
institutions and then seeks to drive key performance outcomes such as improved student experience and graduation rates.
THE MODERN EDUCATION INSTITUTION Manage the key
aspects of the student
Customer Relationship Management (CRM) journey from education
to employment
STUDENT MANAGEMENT SYSTEM (SMS)
WORKFLOW &
ADMISSIONS & STUDENT ASSESSMENT
PROCESS ReadyTech Focus
ENROLMENT SERVICES & GRADING
MANAGEMENT
SMS represents the
SCHEDULING & COMMUNICATIONS QUOTES, INVOICING, ALUMNI
ATTENDANCE & ENGAGEMENT PAYMENTS & MANAGEMENT single ‘source of truth’ for
COMMISSIONS student data
ReadyTech Focus
STUDENT STUDENT STUDENT STUDENT WORK PLACEMENT
ASSESSMENT RETENTION EXPERIENCE
ACQUISITION & ALUMNI
REGULATORY REPORTING
Integrates with
other systems such as
Learning Management System (LMS) LMS/key partners
including Canvas
Financial System & Payments
ReadyTech FY19 results - P 9
Market Opportunity – Tertiary Education
ReadyTech provides a range of market-leading technology solutions across the tertiary education sector
including mission-critical Student Management Systems (SMS).
Enterprise SaaS Universities
Skills Assessment
TAFE
Student
Management System Student Retention
English Language
SME Private Higher Ed
Student Enterprise
Management System
Skills Assessment
A robust and reliable solution designed to meet all Private VET • Domestic
student management and reporting needs.
Colleges • International
SIZE
Value Adds VETenrol
Payments, international Manages student enrolments in one
enrolments & logistics. centralised location.
Trainer Portal ◂ • Upstream integration • Receive, review, confirm & complete VETsurvey
◂ • Ezidebit integration student enrolments
Perform assessments, attendance ◂ • CRICOS compliance • Customise steps to suit your RTO Create & distribute
& other functions in real time. • Confirm payments education-specific surveys.
◂ • Manage clients, events and classes • Pre-populated compliant surveys
◂ • Record unit results • Reply via email or online
◂
◂
• Manage files and documents
• Contact students via SMS, DM or email
• Hosted and supported solution
ReadyTech FY19 results - P 10Payroll and HR Administration
ReadyTech is at the core of the employment software ecosystem offering mission-critical Payroll and HR Admin solutions.
THE MODERN EMPLOYER
Mission-critical HR
functions such as HR
RECRUITMENT
EMPLOYEE ONBOARDING
INDUCTIONS & CREDENTIALS admin and payroll
WORKFLOW &
TIME ATTENDANCE PAYROLL - TECH / EMPLOYEE SELF PROCESS
ROSTERING MANAGED SERVICE SERVICE ReadyTech Focus
MANAGEMENT
Enable our customers to
SKILLS & BI MANAGER WORKPLACE
TRAINING REPOPORTING PORTAL HEALTH & remain compliant with
SAFETY evolving regulatory
ReadyTech Focus
compliance
EMPLOYEE INTEGRATIONS - ERP,
BANK, STRATEGIC HR etc
EMPLOYEE BENEFITS EMPLOYEE
ACQUISITION EXIT
COMPLIANCE
ATO STATE LAWS FAIR WORK WORK COVER DHS
Add-on modules
such as T&A, WHS, BI
STRATEGIC HR Reporting, workflow
automation enhance
PERFORMANCE COMPENSATION PROFESSIONAL SUCCESSION value for customers
MANAGEMENT SALARY PACKAGING DEVELOPMENT PLANNING READYTECH FOCUS
READYTECH EXPANSION
ReadyTech FY19 results - P 11Market Opportunity – Employment
ReadyTech provides Payroll & HR administration technology and managed services across the
employment market and increasingly targets higher value customers.
SOFTWARE MANAGED SERVICE
SIZE OF BUSINESS REVENUE DISTRIBUTION
5-19 employees 10%
20-199 employees 47%
Enterprise 1000+
>200 employees 43%
Mid-Market 100-1000
SIZE
Small Businesses 1-100
ReadyTech FY19 results - P 12Growth Initiatives
ReadyTech enjoys a range of opportunities to maintain strong rates of growth into the future.
Technology Talent Existing Customers New Customers M&A/Partnerships
Continued investment in Grow APRC with Licence growth,
Invest in new talent Win new and higher M&A strategy and
SaaS products – upsell of modules and cross sell of
to drive growth value customers strategic partnerships
R&D spend of $10M pa value added services
Education – investment in Sales - Investment in ARPC - 12% growth in average Pipeline - Current pipeline of M&A – well capitalised
enterprise/higher education enterprise/higher education revenue per customer from >$15m of potential opportunities and pipeline to acquire
product strategy including: enterprise sales strategy. FY18 to FY19. with a number of recently complementary technology
• New apps Expect to grow incrementally added higher value deals in the and/or customer base with
• Student services sales and marketing spend from Growth - in user subscriptions tertiary education sector. focus in the employment sector.
• Integrations the current 8% of revenue. on the back of strong macro
trends in Tertiary education and Higher Value - New clients New Partnerships
Employment – investment in Customer Success - Invest employment sectors. on average 3.6x larger than Focus on new partnerships to
new modules including: in customer success to grow average client churn. deliver value to customers and
• Onboarding advocacy, ARPC and secure New Value - Offer new referrals.
Target - Employment to target
• Workflow automation retention rates. modules including self-service,
sectors with payroll complexity
• CFO Reporting Portal WHS and business intelligence. Employee Benefits
including retail (e.g. client win
• Enhanced User Interface R&D - Building talent attraction
Glue Store) and construction
strategies and talent pipeline to Cross-Sell - My Profiling and
sectors. Consultants - Launch of
Security – ongoing underpin future growth. Expand behavioural science cross-sell
commitment to invest in R&D capabilities such as data delivering growth and pipeline Education Certified Consultant
Enterprise - Continued
InfoSec – ISO27001 and IRAP analytics and AI. growing strongly into FY20. Program.
development of enterprise sales
compliance. and marketing capability.
ReadyTech FY19 results - P 13GROUP FINANCIAL RESULTS ASX: RDY
Strong Revenue and Earnings Growth
PRO FORMA $ MILLIONS
Highlights
% change vs
FY19 FY18 % Change YOY
Prospectus
Subscription and licence revenue 29.7 25.6 15.8% 1.5% Revenue grew by 13.5% driven by new client wins and
increased sales to existing clients
Implementation, training and other revenue 3.3 3.4 (3.8%) (3.4)%
Total revenue 33.0 29.0 13.5% 1.0%
Operating expenses grew 9.3% driven by investment in new
Salaries and wages (15.2) (13.5) (12.7)% 0.2% Sales and Marketing roles and R&D, as well as increased client
hosting costs
Technology infrastructure and operations (2.5) (2.2) (12.9)% (7.5)%
General and administrative (2.5) (2.8) 10.4% (0.0)%
Benefits of a scaleable platform sees a 13.5% revenue increase
Total operating expenses (20.1) (18.4) (9.3)% (0.7)% delivering a 20.8% increase in EBITDA
EBITDA 12.8 10.6 20.8% 1.5%
Depreciation and amortisation (8.1) (7.3) (10.5)% 2.5%
Depreciation and amortisation figures comparable to capitalised
EBIT 4.7 3.3 43.4% 9% development costs which are amortised over 5 years
Net finance expenses (1.6) (1.4) (16.2)% 0.2%
PBT 3.1 1.9 63.2% 14.5%
Pro-forma net finance expenses based on the terms of new
Income tax expense (Effective rate 30%) (0.9) (0.5) (57.7)% (10.7)% Banking facilities as if they were in place from 1st of July 2017
NPAT 2.2 1.4 65.5% 16.2%
Add: amortisation of acquired intangibles (post-tax) 3.5 2.9 (19.0)% (5.9)%
NPATA 5.7 4.3 33.6% 9.7%
ReadyTech FY19 results - P 15Strong Operating Leverage
Total Operating Expenses (A$m) Capitalised Development Expenses (A$m)
74% 13%
12%
65% 63%
61% 11%
10%
20.1
18.4
17.7 17.5 2.5
2.9 2.8 3.3 3.4
3.4 2.5 3.1 3.2
2.2
2.4 2.2
12.4 11.9 13.5 15.2
FY16 FY17 FY18 FY19 FY16 FY17 FY18 FY19
General and administrative Technology infrastructure and operations Capitalised development expenses % of revenue
Salaries and wages Total operating expences (% of revenue)
ReadyTech FY19 results - P 16Segment Results - Education
$M EDUCATION
YoY $ YoY %
FY19 FY18 vs Prospectus %
Growth Growth
Education Revenue 20.0 17.8 2.1 12% 0%
Education EBITDA 8.1 7.1 1.1 15% 2%
EBITDA Margin % 41% 40% 3% 1%
Highlights
Strong client growth with the average value of client wins
Benefit of enterprise sales staff is paying dividends
3.6x greater than churned customers on average
Greater existing customer spend due to user base growth
Upsell of My Profiling and Esher House performed well and
and/or uptake of more modules
pipeline strong
Continued growth expected through high value qualified
leads especially in pathways and higher education sectors. CLTV to CAC ratio of 6.2X (FY18 = 5.2X)
University of Queensland project tracking well
ReadyTech FY19 results - P 17Segment Results - Employment
$M EMPLOYMENT
YoY $ YoY %
FY19 FY18 vs Prospectus %
Growth Growth
Employment Revenue 13.0 11.3 1.7 15% 3%
Employment EBITDA 6.2 5.1 1.2 23% 0%
EBITDA Margin % 48% 45% 7% -1%
Highlights
Increase in existing client spend driven by employee growth and
additional module uptake through targeted campaigns and Benefit of increased business development staff and
account management team national coverage
Compliance with Single Touch Payroll (STP) increased Strategic alliances with partners and accounting firms
customer spend and switching to ReadyTech delivered new customer wins
CLTV to CAC ratio of 7.1X (FY18 = 6.1X)
ReadyTech FY19 results - P 18Strong Cash Flow Conversion Maintained
Highlights
$ MILLIONS PRO FORMA FINANCIALS
Changes in net working capital
Negative working capital due to customers billed upfront
FY19 FY18 FY17
FY18 working capital impacted by significant amount of Q1
EBITDA 12.8 10.6 9.6 FY18 billings
Changes in working capital (0.3) (1.7) 2.1
Cash flow from operating activities 12.5 8.9 11.7 Capital expenditure
Stable capitalised development costs and capital expenditure
% conversion (as % of EBITDA) 98% 84% 122%
broadly in line with depreciation and amortisation
Capitalised development costs (3.4) (3.2) (3.3)
Other capital expenditure (0.5) (0.6) (0.0)
Strong Cash Flow Conversion
Net cash flow pre financing and tax 8.6 5.2 8.4 $14m 160%
$12m 140&
% conversion (as % of EBITDA) 67% 54% 87% 120%
$10m
100%
$8m
80%
$6m
60%
11.7m 8.9m 12.5m
$4m 40%
122% 84% 98%
$2m 20%
$m 0%
FY17 FY18 FY19
Cashflow Op Cash Converion %
ReadyTech FY19 results - P 19Group Financial Highlights – Capital Structure
Highlights
PRO FORMA NET DEBT AS AT FY19
$ Millions Facility Committed Pro Forma New debt facility in place post listing > Total facility size
$27.5M – Fully drawn at IPO
Facility A 21.5 21.5 Facility A -$21.5M and 3 year amortising
non-revolving cash advance facility
Facility B 6.0 - Facility B - $6M and 3 year revolving multi-option
working capital facility
Total Debt 27.5 21.5
Cash and cash equivalents 6.3
Available cash for use $12.3M which reflects $6.3m of Cash
FY19 Net debt 15.2
and Cash equivalents and $6M prepaid Facility B
FY19 PF EBITDA 12.8
FY19 Net debt / PF EBITDA 1.2x Pro-forma net debt to EBITDA ratio of 1.2x. Bank
covenants 2.5x from 30 September 2019 to 30
June 2020 and 2x from 30 September 2020 to 30
September 2021
ReadyTech FY19 results - P 20Outlook
OUTLOOK ASX: RDY
ReadyTech maintains the prospectus forecast for CY19
Pro-forma Revenue: $35.1M – 14% yoy growth compared to CY18
Pro-forma EBITDA : $14.6M - 28% yoy growth compared to CY18
Business performing to forecast in the first 8 weeks of FY20
New business pipeline will continue to drive revenue growth for
both employment and education segments
Continue to assess complementary technologies and / or
customer bases.
ReadyTech FY19 results - P XXAPPENDIX
STATUTORY TO PRO-FORMA RESULTS RECONCILIATION
$ MILLIONS $ MILLIONS
FY19 FY18 FY19 FY18
Statutory revenue 32.7 25.6 Statutory NPAT (1.5) (2.3)
Employgroup and HR3 - 2.9 Employgroup and HR3 - 1.1
My Profiling (3 months) 0.3 0.8 My Profiling (3 months) and Earnout trueup (0.1) 0.4
R&D tax offset income - (0.3) R&D tax offset income - (0.3)
Pro forma revenue 33.0 29.0 Offer and related IPO costs including Esher house
5.6 2.8
vendor payment
Statutory EBITDA 7.4 5.3
Legacy ownership and structuring - 1.4
Employgroup and HR3 - 1.3
Incremental public company costs (0.3) (0.7)
My Profiling (3 months) and Earnout trueup (0.1) 0.4
Transaction costs 0.2 -
R&D tax offset income - (0.3)
New debt facility 0.3 (0.2)
Impact of lease accounting - 0.5
Amortisation of capitalised development
- (0.4)
Offer and related IPO costs including Esher house expenses
5.6 2.8
vendor payment
Amortisation of acquired intangibles 4.9 4.2
Legacy ownership and structuring - 1.4
Tax effect (3.4) (1.6)
Incremental public company costs (0.3) (0.7)
Pro forma NPATA 5.7 4.3
Transaction costs 0.2 -
Pro forma EBITDA 12.8 10.6
ReadyTech FY19 results - P 23Board of Directors
Director Experience
Marc Washbourne • See management slide
Tony Faure • Currently the Chairman of ASX-listed oOh!media, data intelligence platform PredictHQ and start-up accelerator Polleniz
Board of Directors
ReadyTech’s Board of Directors bring together deep industry, technological, financial and govern
Independent Non-
•
Executive Chairman
CEOof Australian Independent Business Media, Junkee Media, Torque Data, iSelect, biNu, Last
Previously a board member
• Previously CEO of ninemsn, and HomeScreen
Elizabeth Crouch Entertainment,
• Currently and
theManaging
ChairmanDirector
of Customer at the Owned
launch Banking
of Yahoo!Association
Australia
Independent Non- Advisory Council, and is an Emeritus Deputy Chancellor of Macq
• Tony is also a member of the Audit and Risk Committee, and Remuneration and Nomination Committee
Director Experience Executive Director • Currently on the board of the NSW Government’s Institute of Spo
Tony Faure
• Currently the Chairman of ASX-listed oOh!-
• Currently the Chairman of ASX-listed oOh!media, •dataPreviously
intelligence platform PredictHQ
a Non-Executive and ofstart-up
• CurrentlyDirector
the Chairmanat Chandler,
Customer
accelerator Polleni
Owned Macleod Group
Independent Non-
media, data intelligence platform PredictHQ
• Previously a board member of Australian Independent Business Media,
Banking Association, SGS Economics and Planning,
Junkee Media,
Marc Washbourne
and start-up accelerator Pollenizer • See management slide • Elizabeth is also Chairman
and NSW the Torque
ofGovernment’s
Audit Data,
and RiskiSelect,
Non-Government biNu,and
Committee
Schools Las
• Executive
Previously a boardChairman
Advisory Council, and is an Emeritus Deputy
CEO member of Australian
Independent Business Media, Junkee • Previously CEO of ninemsn, and HomeScreen Entertainment, and Managing Chancellor
Director at the launch of Yahoo! Australia
of Macquarie University having served
the governing council for 17 years
Media, Torque Data, iSelect, biNu, Lasttix,
Elizabeth Crouch • • Currently
Tony is also a memberof
the Chairman ofCustomer
the Audit
Timothy Ebbeck and
OwnedRiskBanking
Committee,
• Overand30
Association,Remuneration
yearsSGS of board, and
Economics Nomination
executive
and Committee
andInfrastructure
Sport,Planning, advisory experience
andandNSW acro
Governmen
and Stackla • Currently on the board of the NSW Government’s
Institute of Health the
• Previously CEO of ninemsn, and HomeS- See management slide
Independent
creen Entertainment, Non-
and Managing Direc- Advisory Council, and is an Emeritus
Independent Non- Deputy Chancellor
• of Macquarie
Currently the University
Managing havingand served the Vice
Western Sydney Local Health District
Director Senior governing council
President of fo
Au
tor at the launch of Yahoo! Australia & NZ • Previously a Non-Executive Director at Chandler
Tony Faure
Executive Director
• Tony is also a member of the Audit and Risk • Currently on the board ofExecutive
Marc Washbourne the NSWDirector
Government’s Institute
• of Sport,
Previously
Elizabeth
CFO Health
Crouch
of Infrastructure
Unisys South
Macquarie
and
Pacific,
University
the Western Sydney Loca
Macleod Group, McGrath Estate Agents, and
Hospital Compaq Computers So
Independent Non- Committee, and Remuneration and Nomi- CEO Independent Non-
Marc Washbourne • • Previously
See management slide
a Non-Executive Director at Chandler, Macleod Chief Commercial
Group, McGrath Officer
Estate of Agents,
NBN Co,and and Managing Director of O
of Macquarie
the Remuneration University Ho
Executive Chairman nation Committee Executive Director • Elizabeth is also Chairman of the Audit and Risk
Committee and a member
CEO and Nomination Committee
• Elizabeth is also Chairman of the Audit and Risk Committee • Tim isand alsoa Chairman
member ofofthe theRemuneration
Remunerationand andNomination
NominationComm Com
Elizabeth Crouch •Currently the Chairman of Customer Owned Banking Association, SGS Economics and Planning, and NSW Governme
Independent Non- Advisory Council, and is an Emeritus Deputy Chancellor of Macquarie University having served the governing council f
Timothy
•Over 30 yearsEbbeck
of board, executive and • Over 30 years of board, •Tom ver 15 Matthews
executive
O and advisory
years of experience in private equity, • Overacross
experience 15 years of experience
a breadth of in private
industries
• Currently Managing equity,
including
Director at Pemba principal investme
technology, media,
Executive
advisory experience Director
across a breadth
• Currently on the board of the
Non-ExecutiveNSW Government’s
Director
principal investment, investment banking and
Institute of Sport, Health Infrastructure and the manger
Western
Capital Partners, a leading investor in
Sydney Loc
Independent
of industries including Non-
technology, media, • Currently the Managing Director
middle marketandadvisory Senior • Partner
Vice President
and valuations at Pemba, aAnywhere
of Automation leading
small andprivate
(ANZ)
mid-sized equity
private businesses in investing in s
Executive Director •(Pemba Representative)
consulting and finance Australia and New Zealand
• • Previously
PreviouslyCFO
a Non-Executive Director at Chandler, Macleod Group, McGrath Estate Agents, and Macquarie University H
P
artner at Pemba, a leading private equity
• Currently the Managing Director and Senior
Vice President of Automation Anywhere
of Unisysmanager
South Pacific,
investing Compaq
in small and
private businesses in Australia and New
•
mid-sized Computers Prior to Pemba,
South Tom
Pacific, worked
TMP at
Worldwide
• Currently UK-based
Chairman of the Board specialist
(Asia atPacific and
Coverforce and a Director of Ausreo,
private equi
Japan), C
(ANZ) • Chief
Elizabeth is also Chairman
Commercial OfficerZealand of theCo,
of NBN Audit andand Risk Committee
Managing and
businesses
Director of aservices
member
Oracle (ANZ), ofInstant
sectorstheAccess,
Remuneration and Nomination Com
InteriorCo and ReadyTech
• Previously CFO of Unisys South Pacific, •P
rior to Pemba, Tom worked at UK-based • Previously a co-founder of SB Capital
Compaq Computers South Pacific, TMP • • TomCommittee
Tim is also Chairman of the Remuneration and Nomination previously worked with theofinvestment
and a member
specialist private equity fund Sovereign Capital banking
the Audit and Risk group at Ma
Committee
Partners, Managing Director at Smedvig
Worldwide (Asia Pacific and Japan), CFO Partners where he focussed on healthcare, Capital and a board member of Device
Timothy Ebbeck
and CEO of SAP (ANZ), at Deloitte
• Over 30 years of board, executive and advisory experience acrossCorporate Finance
a breadth
education andbusinesses services sectors focussing
of industries on business
including valuations,
technology, media
Technologies
Chief Commercial Officer of NBN Co, and
Timothy Ebbeck Tom Matthews •T
om previously worked with the investment Mark Summerhayes • Previously at Bain & Company advising
Independent Non- TomIndependent
Matthews Non-
Managing Director of Oracle (ANZ),
•• Currently
Over 15 the Director
years
Non-Executive Managing
of Director
experience in and Senior
private equity,Vice President
principal of Automation
investment,
banking group at Macquarie Bank focussing on
Non-Executive investment
Director Anywhere
banking(ANZ)
and middle market advisory and
corporates on a mix of strategy, M&A, and
• Tim is also Chairman of the Remuneration principal investment opportunities, and gained operational improvement projects
Executive Chairman
Executive Director (Pemba Representative) (Alternate Director to
Non-Executive
and Nomination Committee
Director
and a member
of the Audit and Risk Committee •• Previously
Partner CFO ofaUnisys
at Pemba,
experience at Deloitte Corporate Finance
leadingSouth Pacific,
private equityCompaq
manger Computers
investing in South Pacific,
small and TMP Worldwide
mid-sized
focussing on business valuations, independent (Asia Pacific
private businesses
Tom Mathhews)
and Japan),
in Australia and
(Pemba Representative) expert’s reports and corporate advice
Chief Commercial Officer of NBN Co, and Managing Director of Oracle (ANZ),
• Prior to Pemba, Tom worked at UK-based specialist private equity fund Sovereign Capital Partners where he focussed
• Tim is also services
businesses Chairman of the Remuneration and Nomination Committee and a member of the Audit and Risk Committee
sectors
• Tom previously worked with the investment banking group at Macquarie Bank focussing on principal investment opportu
Tom Matthews • atOver
Deloitte Corporate
15 years Finance focussing
of experience on business
in private equity, valuations,
principal independent
investment, expert’s
investment
ReadyTech reports
banking
FY19 and and corporate
middle
results -Pmarket advice an
24 advisory
Non-Executive DirectorManagement Team
Senior management
Marc Washbourne Nimesh Shah
CEO CFO
• Marc Washbourne was one of the founders of the JobReady • Nimesh has been the CFO of ReadyTech since August 2017
business and was appointed CEO in 2006
• Nimesh has over 20 years’ experience as an executive in technology and
• As a former software developer, Marc brings to ReadyTech over 20 online digital industries across Australia and many parts of Asia including
years of experience in technology and software solutions within the over 7 years as Finance Director of Fairfax Digital
education and employment industries
• Previous CFO experience for companies including pioneering social
• Marc has been an active member of the CEO Institute since 2011 and networking site, Friendster, Inc., and ASX-listed leading media intelligence
is a member of the advisory board of Year 13 Pty Ltd organisation, iSentia Group Limited
• Marc was educated in the U.K. at the Royal Grammar School of High • Nimesh holds an MBA from the Australian Graduate School of
Wycombe and achieved a first-class degree in History from the Management and a Bachelor of Commerce with Merit from the
University of Leeds University of New South Wales. Nimesh is also a member of The Institute
of Chartered Accountants in Australia
Business leadership
Tony Jones Trevor Fairweather Daniel Wyner Michael Benyon
GM, JobReady GM, VETtrak GM, Employgroup GM, HR3
•J
oined JobReady in an • GM of VETtrak since 2018 • GM of Employgroup since 2018 • GM of HR3, Michael has
operational role in 2006 experience spanning 35 years
• Over 20 years of experience • Over 10 years of experience as in payroll software.
•P
roject Director of AVETARS in senior management an executive in the information,
for ACT State Government and executive roles in the software and service industry • Michael has been
technology sector instrumental in building HR3’s
•P
reviously worked on major • Former Asia Pacific Regional trust, growth and influence in
IT transformation projects at • Previous experience at MYOB, Director at CCH Australia, owned the payroll industry.
Universal Music Group in UK Acendre and EstimateOne by multinational global provider of
professional information software • Most recently, Michael worked
solutions and services Wolters with an advisory group with
Kluwer. Previously Head of the ATO on the roll-out of
Strategy, Mergers & Acquisitions Single Touch Payroll (STP)
initiative.
ReadyTech FY19 results - P 25GLOSSARY
A2E Assess2Educate, a ReadyTech product
ACV Annual contract value
ARPC Average revenue per customer
CAC Customer acquisition cost
CAGR Compounded annual growth rate
CLTV Customer lifetime value
CY Refers to the calendar year ending 31 December
DHS Department of Human Services
FY Refers to the financial year ending 30 June
LMS Learning management system
NPATA Net profit after tax but excluding the non-cash amortisation of acquired intangibles
(including customer-related intangibles and acquired software) from prior acquisitions undertaken by ReadyTech
SMS Student management system
STP Single Touch Payroll
WHS Work, health and safety
ReadyTech FY19 results - P 26You can also read
