ASUR - Earnings call transcript Q2 2019

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Operator

Good afternoon and welcome to Asure Software’s Second Quarter 2019 Earnings Conference Call.

Joining us for today’s call are Asure’s CEO, Pat Goepel; CFO, Kelyn Brannon; and Vice President of HR, Cheryl Trbula. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this call is being recorded.

With that, I’d like to turn the call over to Cheryl for introductory remarks. Cheryl?

Cheryl Trbula

good And operator. you, afternoon, everyone. Thank

may not risks These guidance. will start, the outcome. historical statements affect to we include outlook estimates number information. I’d of company’s that of today’s are uncertainties like statements of some on projections, This forward-looking other that mention and any that this made their business might discussion of the and the to subject call Before include by during or made all call and could forward-looking statements particular be that are a management

risk You’re results urged Securities to relating to expected results. differ are important, company’s consider reports factors with risk the business our contained materially the from on and These file factors in they actual the cause Commission. Exchange and to could

like at Finally, for made be everyone the Investor of remind it call Relations link in that available and recorded will available www.asuresoftware.com. to section I website would be will replay a via this our

now would the I CEO. call that, Goepel, Pat like Pat? With to over turn to

Pat Goepel

party. And like client, XXXX your to quarter to second sure our We valued call. earnings whether you, I’d or interested analyst you’re an interest, Thank investor, welcome employee, everyone Cheryl. appreciate

Let of financial me the run highlights. through some

we quarter, During the and per both for share expectations. EBITDA, revenue consensus second exceeded with expectations non-GAAP meeting earnings non-GAAP

percent growing the revenue Total total XX%. the recurring million. of mix revenue quarter as of with quarter: second at pleased high-margin a Looking Recurring increased $XX.X XX% to in I’m year-over-year was revenue. the revenue

up- into installed with also the X% We’ve QX during laid cross-selling total and grew our additional backlog for bookings both growing year-over-year, New sequentially base. groundwork year-over-year. and

product road in New feedback, with with XX personally our this map participating XXX executives. of attendees bode believe sessions. clients’ Asure. in away user came were upcoming year. positive. many our attendance. conference showcased CX, our prospects about During client I June, were event, the roughly Response from our the current we annual which and analysts our over We excited We Orleans, extremely breakout industry met XX dozens in sponsors, will At for drives customer all We held well for client

moving Now client to on wins.

quarter, U.S.A., resellers, TPC well second for People, secured the management Payroll; range Megapay as including the Asure wins human of Payroll Teatro a as across During Zinzanni capital AsureForce.

workspace quarter Broadridge YETI Kong, Financial globe: covered wins here Austin, Towers really towers Willis Second L’Oréal Watson – the Willis right Hong Barclays or and Watson. in in India,

reach in We’re global business. our pleased to see continued workspace

it Xx our noted business Xx year-over-year, a last and grow As nicely. our to from I continues new has perspective, pipeline call, to grown on workspace

caliber and buyers of opportunity opportunities with pleased both our ahead. on road solution. We’re geographies with the existing And thrilled enterprises include and all across with verticals well as as prospective logos the interested I’m new in the expansion clients. range our

to has As globally. one an agreed workspace large example, company deploy Asure insurance

It’s a While wait class. is will What in dependent live technology is And caliber of if. up truly our on the pleased enterprises the until their ship to the have to say: is footprint, It’s which to timing of solution I’m office not Asure cases go we locations some world new for running. and to and workspace physical building turning regions when.

environments and experiences and resource meeting The to office design X,XXX panels. that XX client reducing sold company entire and eight Scheduler United Kingdom. and of win workspace energy the recently seats, the in over across productivity This while Asure SmartView their engagement controls maximize Resource example sensors, in U.K. estate consumption body employee floors. inefficiencies. footprint, our including we recent terrific products, A suite their has a who wants trading of space real is rooms government fair They the purchased

utilization and their space of met needs technology. for real-time analytics suite data Our solutions

meet tight to Our their cohesive, integrated deadlines. solutions ability improved have

Our actionable and diverse company mobile will insights workforce. this integrated match and flexibility agility the solutions today’s of to enable and

payroll leave uptick the a meaningful real electing resellers family. experienced to we their second join former quarter, During in the providers Asure and

fact, XX comparison, more in to converted is was strong months of months, Asure resellers commitment And levels. In that number innovation we than believe in more to Asure’s all XX% client-focused XXXX. the higher we’ve of XXXX, resellers and testament I our six of solutions, than XXXX. a than over to all last converted the this high-quality

their While it a revenue future may up all it and time and streams; over upsell, recurring clients, it take our and onboard the cross-sell acquisitions. bolsters opens pipeline some to resellers time, additional for

example provider that an over Over management the platform across a converted the XXX XX clients in Northeast, win reseller, be XX,XXX we the On will had capital Asure employees months. is XX of a next to recent service human the payroll states.

small solution human Northeast business Asure Asure’s human management solution, needs their with is one at While reseller all met capital this capital getting Software.

enable As on both deeper penetration I in this to last clients. sales new and our we mentioned hiring the current year rep call, initiated

sales last feet new Our year. enough drive organic just the to simply growth. have rep didn’t sales improved We additional and street productivity on

net second initiative the goal mind hire second year. half the we this will going new hire full up in to the of ramp of approximately reps during XXXX. half is reps is XX sales the into the Our to on capacity year That in year. track Keep

a more me Kelyn? turn financials. for Kelyn of detailed to our discussion let call Now the over

Kelyn Brannon

good And Pat. afternoon, you, everyone. Thank

steady improving As solid, Pat second and continue leverage. noted, quarter our our to operating on we focus results and were

through the details. me let Now run

figures reminder, are financial a I usual, a state today non-revenue unless As will discuss non-GAAP, I all as them measure. as GAAP

press non-GAAP results from reconciliation you’ll release. always, As a in today’s to find GAAP

Total $XX.X prior other year. of $XX.X In services, professional last grew revenue from QX, million increased Recurring revenue revenue million hardware to XX% of quarter QX over XX% and year-over-year. year. XX% QX for in grew the second the

not see XXXX. impact pattern W-X in this our prior As will the seasonal benefits to ACA include XXXX QX remaining expected, QX but due its The of quarters of with we’ll a first onetime downtick which seasonal again slight usual quarter exhibited and benefit, from impact quarter. the

in of workspace And of percentage the QX revenue last revenue revenue was of line year-over-year. year. revenue to QX XX%, compared XX% total in XX% total. of as QX XX% XX% in grew of and the year, prior was a with represented grew workspace HCM QX XXXX. HCM revenue Recurring over XX%

and reminder, AsureForce included HR consulting HCM a As our in revenue is category.

in Next or slightly increased QX’s I’ll million discuss profitability million, our of metrics. non-GAAP non-GAAP margin X% gross to $XX.X gross to gross of This non-GAAP to margin compares of QX from prior quarter. XXXX. a profit XX.X%. $XX equating the XX.X% declined QX gross margin

overall processing. W-X margin benefited profit $X seasonality benefit XXX usual to QX one-off the or earlier, experience result and QX as carry a gross over These XXXX. to items our QX points in discussed basis ACA I over overall our we of a million of from benefit of in of As onetime a non-GAAP gross

increasing continue Increasing future. range our in to margins gross expect sales, the XX% with – of the we given along non-GAAP to to increasing HCM, hardware mix near of our be in XX%

QX non-GAAP million, in percent last XX.X% was as with line QX of EBITDA in a year. of $X.X of EBITDA XXXX. QX Non-GAAP roughly was versus XX.X% revenue

our improvements $X.XX non-GAAP per share. and as to of onetime second XXXX, expenses to acquisitions our income look QX, AWS harmonizing into totaled and see NetSuite. with to continue expect the primarily our EBITDA upgrading infrastructure on million In As or net half non-GAAP we related we $X.X

tax this and quarter, ahead rate guidance Looking actual third our feel for we at accurately expectations measures effective is non-GAAP the performance. still X%, more in our

primarily June of prior Shifting and $X.X quarter sheet. million end. we equivalents million gears QX had $XX.X of Cash XXXX. gross of quarter the $XXX down of was XXXX, balance end at decrease XX, to from This At investments $XXX some inventory our due in debt, million. a the cash million the million $X.X at from of is to

we sheet of term, XXXX, both X% the define deferred and revenue short both up balance Total on which XX, long short up as revenue within X% June was and XX-month long June combined, backlog, including At was as deferred the sum short-term backlog, a horizon, unbilled XX, year-over-year. $XX.X was and includes year-over-year. of deferred revenue Total term million. XXXX, which

the was as visibility strong of our workspace our on three pleased down our by total focus Overall enabled increased QX days days, XXX. recurring from to in to demand. focus XX head sequentially ago benefiting the cloud are was from year the XX DSO revenue. bringing We count with in on build collection. we level fulfill improving by Inventory capacity sequentially cash million $X our employees up in QX, quarter,

most seasonally cash during year. I’ll inventory level, which demand quarter, the used QX to $X.X quarter. meet we that, our to increased operations quarter, second invested during note the $X.X we improvement not the also technology. second from cash be During on invested million last would Had we an quarter, to $X.X our XX% tends million, or of flow million workspace operations this have of in generated over positive light was for

cash year. for operations We continue to the be very focused generating positive from full on

Before back and want I our initiative. turn update upgrade over client the to Pat, activities call you our to infrastructure back-end on fund I

now Our client platform. support AWS on cloud is hosted

on remains track. implementation NetSuite Our

and now are procure-to-pay live on We assets. fixed

businesses up of am with invoicing implemented pleased online QX. efforts have modern plan with completely and running environment. Plains In in Great for and addition, internal projects drive team’s architecture to all small enterprise QX our are our to We control the businesses and HCM I and NetSuite. the billing my in

investment consolidate rate. X.X% client taken funds last quarter, Last we of our to to on a had discussed blended annually. to steps achieve achieve we As blended we’ve higher X% approximately earnings rate anticipated a to call,

fund blended decline points Given X.XX% XX the decline basis recent to our we accordingly rate annually. expect in to to X.XX% rate, federal

and rates. EBITDA EPS flow and While is a lower net neutral lower it the interest bit, debt revenue pressure due rates cash to to

rationalize When of banks, started consolidated working and accounts client up XX we with and last banking the out operating we’ve we’re across initiated and we XX% funds, spread investments. from hard effort, XX XX% to quarter. this Currently,

to bottom top the by funds a the consolidated This be so we to end see high-margin line. stream, expect very revenue of year. is our pleased majority from synergies We the acquisitions were a and of impact additional the

turn to over Pat. Pat? Now the back I’ll call

Pat Goepel

progress. a to And I’d Kelyn. really lot team. They Thanks, like salute her make of

track right We Our foundation we’re basis. the was consistent on first solid that a on execute feel half. on a to business during

Turning to guidance.

able implemented our to macroeconomic our examination it better by funds To via million during $X interest initiative tariffs; we as client. We XXXX extent, FX and one approximately to particularly British that We’re recently including impacted a lesser fine-tuning that in our our and business. scalable we’re China-related exposure, just on annual We by the business. This declines specific improve low-margin impact business. profitability consulting through rate to relates aren’t guidance will a consultants given the revenue found utilization consulting dedicated underlying revenue conditions, trends has been XXXX invest. pound; and macroeconomic we’ve of our went new that an

the $X.XX. earlier, Kelyn days XX British pound just took fed cut was rate example, roughly the $X.XX. exchange it’s well. And recently mentioned an For effect then rate Today, that as just

feel is that extra conservatism As such, warranted. of we level

million We’re XXXX EBITDA non-GAAP $XX $XX our $XXX million revenue guidance to margin to XX% of XX%. $XXX to EBITDA million, about million, of refining equating non-GAAP to to with

guidance from to include pleased outlined such acquisitions we’ve – we’ll will after and guidance as acquisition, any note, you, our Please we’re future the does revise contribution not or close.

cash last positive for We’ve realizing year’s is XXXX, which very from in human operating harmonization full flow management committed capital a year believe acquisitions. we important to step the generate

in generated very flow in would In we have poor-cash-flow operations we inventory QX, quarter. fact, the typically in from investments without is cash which positive made

be cadence half, so we’ll moving objective. will Given in AWS second feel cash that onetime posting the is better flow confident and through a cash operating a and that positive for our forward, XXXX flow tapering key expenses we generate investments very ERP

in have the an front. opportunistic this on active acquisition targets, near of pipeline While we’ll we future be

focus mentioned anywhere It’s I call, pace about don’t to XXXX. last the demonstration As been close the is of the of to of of on focus economic and acquisitions really XXXX a acquisitions model that the expect integration be the the that for I earnings of [ph].

entering second with solid We’re the half year of performance. the

to We the and We business. our synergies leverage growth want year We want the opportunities. We in to generate to execute scaling this inorganic, from the out foundation infrastructure we future. opportunities, with cash. platform realize get the invest business. the our product set cross-selling a to cost produce We’re improvements keenly clear in cost set margin want of objectives back-end focused which and scalable and on both and organic for can on improvement

offerings of In we the I we firmly for products depth closing, have right believe a serve. markets the and

We place, we’re our have focused improve to the leverage. and financial right people in

And questions. with open that, for Operator? we’ll up

Operator

[Operator Instructions] Cowen comes from Wood Our first Derrick with and question Company.

open. now is line Your

Derrick Wood

to this an be if to perhaps in additional going wanted next over activity seems on Hey, look help you I additive focused to sense you quarter. and I how out just lean reseller do on build-out Or to maybe guess, can sales takes you’re everyone more and be the up generate direct to years, could reseller kind think you and long kind what to the you build onto it give then of on revenue? ramp as of the channel the the from effort congrats a the will touch us a quarter. channel? on some this resellers couple force? of out And

Pat Goepel

questions. Yes. thank great How Derrick, you, view and we resellers.

cost-effective believe view They we we’re And street. on the open be to markets of never more are organic way. growth profitable. can the have First a very to X,XXX general in all, we up going much feet in that resellers

break in clients depending however nine with average, retention are us. acquisition customer long stay rate on And to years even, they know, is very eight, you are typically three profitable but years through about model two high. this very or As our costs

that continue to and want we their with them So sell backdrop, and flourish. to resellers business have

want them partner to be be strategy exit able to – to an and exit a also, in allows want to to clients exit, the have We once directly; strategy an that able they own and for life. though,

when model solutions that, from worked clients segment well are out sales very our can of having has we really just as then beyond and a take the scalable kind reseller. individual we sales been and really the what and perspective focus about reps now this us value out exciting now is hire-to-retire offer historically we’ve very take And And as in reps of product the productive payroll And have business to what’s marketplace. a well. the they and of for a synergies drive directly, transition a it’s do that proven

very And seem conflict. to We have channel flourish very both little very, well.

that, mature, So I and exit is then owner with strategy the will think as that, that. That you nicely. an with resellers more have business a very see of from they resonating

clients. it in pace. their they’re may general three a as And – of at a marketplace onboarding marketplace usually of months; in payroll for have resellers is as onboard little could far services Typical finding support the what clients. DNA back-end the be that is that that as the As want software, reseller to have year, good been They the of with XXX of and period or in right have scale. kind fortunate these has go shops we’ve And done an to tending with the to good then outstanding are onboard high-quality job. kind resellers, service and team infrastructure to and people able we’re to

our continue as it’ll part So of strategy.

Derrick Wood

up and mean you, I I was you color. Could XX% for Kelyn. And backlog short-term you guess, the put guys Great one difference? revenue growth, reconcile X%. up

So to backlog I And of dynamics that the driving down? two? guess, what other components any number are consider are the delta between there for then

Pat Goepel

free well. jump feel that. Kelyn, no. And in to And take I’ll Yes – Derrick, as

XX I might if And – back: quarter first an haven’t of each Kelyn Since at just be think what, acquisition. reflect done I know XXXX, we’ve other. January and the acquisitions. had This I looked You we

both when short-term typically some think actually or some implement and both we’ve different backlog, team and sells So SWAT acquisitions, of and when we’ve out you’ll some a kind done additional that sales is deals, about goes had what services a long-term. had

acquisition, then implemented re-contracting well. involved there’s and no business. as news This is a was quarter good some we Sometimes, the

and move have see, quarters, sales future initiative both total we the the seasonally but as compares rep And better then bump it with sales compares. the might based acquisitions, of and I sold, with So, not acquisitions. think sprightly you’ll think a we you the when hiring will amount resellers but our resume backlog get for all the that, on once reason we’ll that’s did it as tough in

Derrick Wood

Great, the I’ll in back queue. get Thanks.

Pat Goepel

Derrick. Thanks,

Operator

Our next Needham Company. with Scott comes from Berg question &

Your line is now open.

Scott Berg

starting questions. the guess, will I all guys these how on Hi, this made point, Congrats infrastructure for you’ve ability some for past? at than maybe integrate and acquisitions thanks all anticipating year, acquisitions taking more quickly these still future investments some Given clearly a to my the improvements but are you: back-end Pat, your you guys. good in impact and quarter

Pat Goepel

of of you, and very of fronts: because been all, this don’t business very we’re AWS, do, First purchase It’s going is through thank which equipment. completed has scale. question. have we No, have Yes. Scott. couple of can consolidation quickly a some infrastructure books now $X.X the for cost all, we centralized on $X million really to a enables what We to thoughtful On to round take some of next that’s of a quarter shutdown kind to first large class, avoidance equipment have The world redundant million. systems, we or close us that that might

acquisitions, get them plug real savings. did we within one in to the from we the the So opportunity acquisition the to were of can AWS. et quarter. Two, plug we next able right that round recently, And into cetera,

So have vis-à-vis perspective or on like a a ago, it does it almost year year. resources have take centralize about the is things product That us would a but printing very infrastructure, what but which allows we a centralized and From with us a or regional. years resources, can two close we customer remote now taken have advantage that’s economies to we experienced scale. of in site side of highly trained IT the print

way which tool; of really – or to through. not way straight-through finance It’s Salesforce, is to sales-enabled a from quote-to-cash From just processing the it’s to which a NetSuite CRM DealHub, the kind is NetSuite and all a perspective, the NetSuite. move all solution; a

practices with can harmonization and mechanism. these a have sales, pick writer, of best cost retention tremendous a choose numbers, delivery we pricing, we acquisitions Now and and as from Domo report analytics. And

benchmark that. can we Now

in So early is about we’re plug acquisitions. that, these we nice of but still the future what’s innings

technology And that straight-through the we we the can quarter. only is this not the As same within model now can in integrate processing we finally deploy the of the can faster, economics future but tune system, quickly. acquisitions

you do So that I’ll tell of this it. that’s because been many type to. so working team, And lifting we of there’s the team magnitude. thing And proud it’s what at can we’re I’m organizations for not the heavy but prepared this for

towards we it. practice – We’re

exciting. come together pretty see We’re living quarter. we’re this And it right and it now, frankly, executing is, it to

Scott Berg

are Great. estimates at And I guidance, British then anticipating to here and least sometime – my at rate funds And XX fed – follow-up how are conservative then revenue regards exposure the what’s with pound before another for Kelyn, the the is, on Kelyn your believe there? funds least basis in cut year-end. the many

Kelyn Brannon

Yes, yes.

on on know is of sure be of I if strong, especially incredibly rate forecast out, that’s those think crash to bretix back. a And have inventory don’t going know kind from make protected usually XX we’re of that but and I out I EU. OccupEye like going the I our business what a down those mean they’re I that Brexit, I is we’re so want year, there to to lot plans. going conservative. been the a in could Quite have making look over of – if I crash been last so our we and do – with frankly, fed has which U.K., that we’re no-brainer. to funds the gone we’ve bps, that’s acquisition believe we

that leverage folks HR clients technology three the selling just And or secondly, and how think from sources locations, and is at So, around some it two that deliver I’ve in been technology; consulting or we in conservative. and And that as that really we way. in takes need. putting I relatively put at office on XX% but inventory the an they a of I platform can reskilling consulting revenue to individuals to probably our other change one, may the to time: those and working we business clients around guide sitting be retraining different shifting

Scott Berg

I all have. for That’s Great. taking questions. my Thanks

Kelyn Brannon

Thank you.

Pat Goepel

Thanks, Scott.

Operator

Rhee Jeff Van question with Our comes Craig-Hallum. from next

line Your open. is now

Rudy Kessinger

sure the guys. still at, Jeff. is I you’re where you planning past, an year? target the reps update couple I Rudy missed you XX it guys I’m additional if Can I XX if the said sales questions. on earlier. not great. just hire, know, is for have you are give to in guys Thanks this on Hey, believe, This A year. for

Pat Goepel

the Rudy, for target Yes. question. the thanks the year. for XX is

quantity. have I and on think we focused quality really

We’re by hire date. not specific a hiring just to

well. the I first picky think, of really we’re when really I at the we – part look very year, and did

think three to it What’s right the out to while talent the really exciting kind interest. right months hire I or word us got been of so over the the kind we and starting a is now. last of get took and right

enterprise is can hiring that. the perspective, small to ramp as get market is running you The full little bit far typically a months. productivity market quarter another within and in longer. As probably a three up than six The

so the now, And we’re right XX finish up. year on to pace

productivity I that without to from think, hit make number getting running XXXX to right now, we’re into be ground a a need we where the XX right in perspective. specific and

Rudy Kessinger

Okay. on, lot And I’d the color that terms that with Great. revisit then clients. Got like XXX in earlier of take reseller resellers. of it. typical to on a

over, needed investments guys there going those? in right of Or up incremental handle any is to customers terms migrating In capacity that be now head have the something to where those you count. built

Pat Goepel

skilled earn some – because what a that at that’s and And to I’m few us we from there, the a we actually bucks. – really and really a teasing looking resellers what, want apply that capacity you people areas business little people feel is out adding bit. platform, you Rudy, to I’m of been that understand to or extra other what from we’re other we us help and help good thing. no. you have have What – some about our know happy out is, are good

and And really perspective, an then our add from both scripts help et use automation cetera, have themselves, help really to other that platforms, of training. getting some them out; will conversion. to the a automated we consultants implementation, people help then good with also So coordination us staff, out from clients, help or

multipronged a been it’s So effort.

do to really in those quality trying We’re because also typically a type life high very resellers with that’s one but a efficient that long have manner then us. of

so rewards And getting bucks model life. off can partner for and acquisition live. them you pay do the a you with really them a in, spend once get few customer The as

Rudy Kessinger

lastly, haven’t just what the given thoughts know then at a I yet you we for out-year? early And out guide be but any organic or could potentially year Great. growth on anything, next if look just rate

Pat Goepel

about would Yes, just just revenue. Rudy, say, little from human we’re what think forest space XX% that And of the a out I we be And that double-digit quarter were we think revenue should it’s starting growth to kind have I management but bit it, think organic capital the going in forward. roughly space, break the this early but I space for that, quarter. in this over of versus It’s if we business. you pipeline trees

for doing So model, some consulting or organic sake not we’re that low-margin management side, capital a to the growth. we consult on are In pruning would XX%-plus where human the consultant going imply business.

to sales you going a did the at kind would sequentially. with of we’re guide just of rep hiring, look half I formal give I but the do only them. scalable we They typically we little where sales of it’ll very would enough of give because and the organic is – call, next on start that’ll numbers. for more a overall see didn’t We We’ll we We’re the we two, then have not kind ramp helps so of the be the into XXXX a least as that really reps bit business, productivity. invested pleased second growth. speak start relatively the grow the in growth, high-margin, you business a at to And that drag that were that to foundation organic – to

Rudy Kessinger

Thanks, it, guys. Got great.

Operator

Our with comes Vincent Barrington from Research. question Colicchio next

open. now is line Your

Vincent Colicchio

Yes. road feedback change? that your may on you how map received, – Pat, based the client product

Pat Goepel

department to put Vince, and question a then our the great much. always it our In employees, glaring operational innovations. and is intended, competitive a map by a our it’s work leaders, in the change but have feature some plan test road our doesn’t extent it is together because drive feedback it marketing we we even that’s that really short And product our doesn’t or could generally with clients, gets too informed clients. what it that’s we we do way that out. that change term, feedback our It

and are implement Now and implement how they The the of we a a better; talking messaging, our that mobile solutions. our of a services really feedback results where and on What our how iPad change they does, one or say. analytics road products can some and how maximize services; the those affects management can hardware internally immediate into of important. can clients the an on though, that quality use PC, results or gets they drive from of it in the perspective from together, that’s client training map really, let’s is feedback and both the month,

the did months last only we of in the because and about even road a user a meet just get map not conference some then accelerated on we what long a other And excited say: impact used general, conference product And And we’ll developments. partner be as that voice that’s map. areas. would – but then client we us real not three road as In year six from can something the client on and the clients co-innovation could have from for with that have for months, product perspective, road where a kind our the and mark a real I opportunity it’s map, a what

to continuing some and developments those of accelerate We’re our drive and feed into business.

in feedback lot client a by conference. road the the XXXX the back road of the driven first map you’ll So the see really half be XXXX – of

Vincent Colicchio

others insurance there looking You the the are similar mentioned to large side the to a client Are getting process relatively you I think is on slow. deploy – a globally. in there’s that realize that close pipeline space a that’s decision?

Pat Goepel

programs what and of they’re initiatives spend Yes, some to in about multimillion dollars. or and they to future are "workforce really have the area get the have probably we I would ability the interesting right in future where pilot running form of say $XXX,XXX fashion" four some proof-of-concepts now

Now these when, have say about companies magnitude strategy, global what’s week some I what of the what what the and gets workforce, larger locations before month, would they what everybody to into is if XX in department the what order five, and the think XX, is continent strategy. XX, is have of what they

in locations. it’s right the do if to try as then get the right we business those rinse cases what outcomes. is And to them with and outcomes, – partner So get business on those repeat they

today. the look when marketplace at So I

you going were bought kind of of know solution you capabilities. readily to you to some ERP have kind buying you’re global If how and going underlying to that or And that’s buy buy. matured, an solution buy

to deploy. how know You

You it. know to how use

is how to still we’re able a it’s teach the not how been to And buy space, they’re As workspace kind to have results they to as people get buy, only want. almost how deploy how young and – of growing teaching themselves and to it well.

So exciting in it’s the an time space.

question of of which of By hard a when. innings of we’re in has same it token, makes question It’s if. revenue. it, early a to a think the predict the lot potential, not but it I still the it’s

Vincent Colicchio

Okay. my Nice quarter. questions. answering Thanks for

Pat Goepel

Thank you, Vince.

Operator

Street question comes Lake Capital. next with [Operator Instructions] Goldfarb from Our Bruce

Your open. line is now

Bruce Goldfarb

couple and you. competitive in acquisitions of congrats good question retention Kelyn customer great landscape. taking last you the my A to guys had and your team, quarter, Hey, years? on the Have over the Thank post Pat, for thanks call. regard

Pat Goepel

in feedback. we we numbers, call. ready to you the we’re going Bruce, look Yes. predicted – at when were retention just this The thank for annual of where getting running ahead were we discussing We for be. the

say, convert, of sense that or to in January in the some the X like As you people on business – is cyclical quarters. let’s know, the

money dependent but or budgets, of ahead increase. it’s when signed, government place different anticipate in that, would that sometimes, are we’re on kind that And product on will initiatives we running or even through or a contracts have both continue the stable perspective, retention that I hiring and year. with a from say the – We to

So rates we’re will nice. that retention cautiously optimistic very be

victory see towards – higher-than-average further the nice ability is which on number, start. end want cross-sell Now but we’re on the had declare that of a to we year, and traction retention to upsell we’ve we’ll what the

Bruce Goldfarb

one, terms it’s is Great. to Joe and in adding. any you think products Chief And if new you’re I’m that on curious integration and and of – kind to of terms just functionality on I products, Karbowski, what features; be can your and color of, Officer, of Technology you’re focusing us just working in think that give features you more your one any on. going be going

Pat Goepel

the conference in business. cetera. sensor we Karbowski I Yes. a And got in Joe especially refresh up has of the $X million feedback plenty enabled but is map, really of hardware gone Inspector We’ve it the our hardware road and busy the our half inventory And I coming throughout to that. all through appreciate us rolled lot in call drives a the him you CX, to the year client – guy. third business. refresh because on a et the a line No, of the what analytics, quarter And Gadget, where of that’s get from saw out is first which some did

per then that the cost down and gone our with faster. also we’ve make multiplied, is scalable has And materials unit. partners partnered capability Our can

have have future, just-in-time – we’ll So the over we inventory. won’t in almost

on our that partner, was Travis, that. for initiative that And has with driven initiative. a really key that us, led clients Joe So his and

have been The side, with between And then – and then where as Outlook back come with the software in As Resource Scheduler in analytics scheduling has into insights. the actionable integration the on Outlook. driver, a the mobile, a the bidirectional and the Plugs from really SmartView key system. far that it, panel, scheduling interface. the analytics we

and the second the year focused year. the initiatives we’re that of on this through are half those So

interface, In capital mine, time time could really it’s management, facial tell I can’t perspective, recognition. faces. our human from a tell our the so supervisor fingerprint and but attendance, workflow your From

take products mobile I exciting is then for but themes services us, and so the think to see key quick key some second recognition and better get a where the the ROI Then part on ability the some the believe model, costs facial with our as clients And terms. you’ll looking doing all half screens. in the the client. of those XXXX, on payroll pop and more solutions eliminate really payroll across And We are and some That’ll control, kind of work some the the or HR. out that automating So the of general the that’s as the has have to first they’re that we’re to get entry the take of intelligence engine well to already. integration been at really analytics, effort, of into – our big out and of that in focused XXXX.

Bruce Goldfarb

the Great, thank you. again all had results. congrats I That’s great on and

Pat Goepel

Appreciate Yes. Thank it. you.

Operator

no this Pat over turn call I’m time. at remarks. to the questions like for I’d further showing any back closing to

Pat Goepel

like Software. everybody’s in positioned time. your have you interest nicely the Asure for No, really feel a in I appreciate the place. of we’re year. I team We half good And second thank we really in

it’s in front and It’s will tackling, here faster a we us, a for we’ll go you We’re Thank a initiatives. can get you. lot in but opportunity We we And think and your and Asure, working accelerate. on our to thank of your do have investment in awesome this to we in us really interest so a the right job good position of you. allow forward manner, a blocking an in challenge for is scalable solution. and

Operator

you This thank gentlemen, and Ladies participation today’s your in conference. for the conclude program. does

disconnect. now great a Everyone day. may You have

Asure Software (ASUR) 9 Aug 192019 Q2 Earnings call transcript