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Latest Articles
Novatti cashing out of Reckon investment, clears debt to simplify payments business
Digital payments company Novatti Group (ASX: NOV) will save $4 million over the next four years having cleared their balance sheet of debt and corresponding interest payments after selling their stake in business software company Reckon (ASX: RKN) in favourable circumstances. As shareholders of Reckon, Novatti has earned $15.2 million in cash dividends since acquiring
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Novatti seizes opportunity in Australia’s cashless transition as revenues rise while expenses drop
Capitalising on the evolving financial landscape where the Reserve Bank of Australia is preparing for legislative changes in line with the direction of a cashless economy, digital payments company Novatti Group (ASX: NOV) has reported strengthened results with both revenue growth and expense reduction. Over the past six months, Novatti has been undertaking a strategic
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Reckon sees big uplift from Legal Group business to complement SME accounting platform, declares dividend
As companies look to become more tech forward, cloud-based software are becoming must-haves. Thanks to that, accounting, payroll and legal solutions company Reckon (ASX: RKN) has seen an uplift in subscription revenue and a return of the dividend payout to shareholders. Group revenue for H1 CY23 shot up by 4% to $28.2 million on H1
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More than 400,000 employees paid via Reckon payroll solutions for small businesses
For small business owners that are constantly feeling the pinch of rising cost-of-living expenses, adequate business support can alleviate many of those pressures and are one of the reasons more businesses are turning to Reckon (ASX: RKN) not just for their accounting needs, but also payroll. Making their mark as one of the most popular
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Digital payments adoption accelerating as Novatti talks increased returns
Although some pandemic trends have lost momentum by returning to their pre-Covid status, one that shows no signs of slowing is digital payments, evidenced by revenue growth from Novatti Group (ASX: NOV) which has invested heavily in their ecosystem and is now eyeing positive cash flow. Operating a global ecosystem that facilitates digital payments, including
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More businesses turning to Reckon for cloud-based business solutions as customer numbers keep rising
With the increasing transition towards business administration being fully digital, more SMEs are turning to business tech company Reckon (ASX: RKN) which is expanding its platform solutions that are now used by more than 117,000 SME customers. The operational highlight for Reckon was their $100m asset sale of a subsidiary business, that has no impact
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