We’re fast approaching tax time, which means Aussies need to brace themselves for the great battle of having to wait to speak to the Australian Taxation Office (ATO) should they have any enquiries while lodging their tax return. This is not an exaggeration, though. ATO call centres are said to be unable to meet demand as the tax office urges Aussies to check online services for every tax-related question about tax return procedure, clarification on how to report certain types of income, and basically every tax-related question.
Is there any way to improve services for some less tech-savvy taxpayers who prefer to speak to an agent though? Business software developer Prophecy International (ASX: PRO) answers. The Company has signed the ATO as the latest client of its SaaS-based Customer Experience (CX) and contact (call) centre analytics platform eMite.
A global contact centre analytics solution, eMite provides instant insights into contact centres through combining advanced analytics, data correlation, KPI management and threshold alerting into a single solution. It provides actionable insights from both real-time and historical data to help improve contact centre efficiency, performance, and customer experience (CX).
Prophecy has agreed to provide eMite to the ATO for an initial term of 3 years with a minimum commitment of $2.5 million over the contract term, $1.05m of which will fall in the first year. eMite will enable the ATO and its 3,500 contact centre agents to enhance taxpayer services by implementing new systems and managing their existing IT assets. eMite integrates data from various business platforms, providing a centralised source of information for contact centre management. It serves as a replacement for the outdated Genesys CCpulse and Pulse platforms.
Commenting on the partnership, Prophecy CEO Brad Thomas said, “We are delighted to partner with the ATO to raise the productivity of their contact centres through eMite. As the ATO supports Australian businesses and individual taxpayers, it is pleasing to see an Australian government department choosing to implement Australian sovereign technology and innovation.
Thomas also mentioned that Prophecy remains well placed to penetrate deeper into both federal and state government departments, and on an international scale.
This contract marks the second large federal government win for eMite, after signing Service Australia into their order book last year. It also marks the realisation of a significant opportunity sourced under Prophecy’s Master Supply Agreement (MSA) with Optus, which was announced in August 2022. The MSA has provided significant opportunities for both parties, empowering Optus to participate in new markets while allowing Prophecy to drive growth in both upfront and recurring revenue.
eMite has been used by an unnamed large municipal government in the US to identify and fix costly data discrepancy issues, such as the amount of time agents spend on different statuses (out to lunch, on a break, on meetings, etc), average handling time, SLA Compliance, handled calls, and missed calls. The software is also utilised to provide reliable, real-time and historical agent performance data to the WFM team, improve agent performance and make better staffing and resourcing decisions, also create a more efficient contact centre operation which ultimately reduces operational costs.
As reported on its Q3 FY23 results, Prophecy remains debt-free with $12.8m cash at end of the quarter, which was an improvement from $9.7m at end of the previous quarter. Customer invoices were recorded at $17.8m, which was up from $8.8m from the previous quarter and up from $16.3m from the previous corresponding period (pcp). Annualised recurring revenue (ARR) grew to $21.3m at the end of the quarter. During the quarter, Prophecy signed new contracts for distribution of its other product Snare across medium and large enterprise and government segments, generating sales of $1.3m, and excitedly anticipates eMite potential sales pipeline of $13.2m for the remainder of CY23. The Company maintains a neutral cash flow for FY23 YTD.
New clients that eMite acquired in Q3 FY23 include Bank of Queensland, Services Australia, AXA, UK Royal Air Force and BAE Systems. Meanwhile, sales partnerships established earlier in FY23 with Optus, Fujitsu and Novacoast are reported to have been yielding customer wins and expanding Prophecy’s pipeline opportunities locally and in global markets. Thanks to current demand in both CX analytics and Cyber Security, Prophecy remains confident in positive market tailwinds for continued expansion and growth.
Clara is a Business Reporter for The Sentiment.
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