Upload
phamnguyet
View
216
Download
3
Embed Size (px)
Citation preview
2
Disclaimer
This presentation has been prepared by CV Check Ltd (‘CVCheck’). The information in this presentation is of a general nature and does not purport to be complete, nor does it contain all the information which would be required in a prospectus prepared in accordance with the requirements of the Corporations Act. This presentation may contain statements, opinions, projections, forecasts and other material (forward looking statements), based on various assumptions. Those assumptions may or may not prove to be correct. None of CVCheck, its respective officers, employees, agents, advisers or any other person named in this presentation makes any representation as to the accuracy or likelihood of fulfilment of any forward looking statements or any of the assumptions upon which they are based.
The information contained in this presentation does not take into account the investment objectives, financial situation or particular needs of any recipient and is not financial product advice. Before making an investment decision, recipients of this presentation should consider their own needs and situation and, if necessary, seek independent, professional advice.
To the extent permitted by law, CVCheck and its respective officers, employees, agents and advisers give no warranty, representation or guarantee as to the accuracy, completeness or reliability of the information contained in this presentation. Further, none of CVCheck and its respective officers, employees, agents and advisers accept, to the extent permitted by law, responsibility for any loss, claim, damages, costs or expenses arising out of, or in connection with, the information contained in this presentation. Any recipient of this presentation should independently satisfy themselves as to the accuracy of all information contained herein.
For
per
sona
l use
onl
y
4
Providing verified information to support people in building trust and growing
honest relationships
PurposeF
or p
erso
nal u
se o
nly
5
Who is CVCheck?
cvcheck.com/tag/trustondemand
For
per
sona
l use
onl
y
6
- NZ acquisition completed and integrating well
- Opportunity to follow customers into new markets
- API based systems delivering scalable and lower cost solution
- Need for speed and scale in delivery
- At source verification- Any individual who has worked
or studied internationally requires a check local to that region
Foundation for international expansion
Range of checks across Australia and New Zealand
5 key check categories 190 countries
Turnkey solution
CVCheck1000+ checks
- Police checks- Traffic checks- Employment & verification background checks- Credit, financial & business checks- Tenancy checks
For
per
sona
l use
onl
y
7
Cashflow positive by mid
FY18
Marketing @ $150k to $250k per
month
Customer acquisition approach
refined
FY16 was a breakout year for CVCheck
+170% FY16 REVENUE GROWTH
+14% Q4 REVENUE GROWTH
+215% FY16 TOTAL CUSTOMERS
+241% FY16 ORDERS
$4.6mCASH AT 30 JUNE 2016
$12.5m – $13.0mFY17 EXPECTED REVENUE
$5.6m capital raising to execute plan to breakeven
For
per
sona
l use
onl
y
9
High and improving conversion rate
New visitors
Signups
Customers
Strong growth in visitor numbers…
…on average, 18.7% of new visitors sign up to CVCheck
Of 2016 sign ups, 60% of individuals and 69% of corporates convert into paying customers
Over 90% of these customer conversions occur within the first 4 weeks
42k 43k63k 71k 75k 64k 61k 66k
86k106k
83k 73k
Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16
16.0% 16.3% 16.4%18.2% 19.2%
16.5%
21.2%23.0%
20.7%
15.7%
19.5% 21.0%
Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16
For
per
sona
l use
onl
y
10
Focus of marketing now on targeted customer acquisition
Brexit and the long Australian Federal election campaign has had an impact on conversion
Spend optimisation
Brand building
Normalisedmarketing spend
For
per
sona
l use
onl
y
11
Improving customer metrics across corporate and individual
• 60% conversion rate for new accounts (up from 58% in May)
• Cost of acquisition expected to come down as brand awareness increases
• Average cost of customer acquisition falling
• Convenience, speed and sharing of information crucial
Corporates Individuals
• 69% conversion rate for new accounts (up from 62% in May)
• Active clients across 29 sectors• Marketing drives geographic and cross
industry sales• Integrated customer onboarding process• Individual use of the system drives
corporate interest
For
per
sona
l use
onl
y
13
Technology investment drives scalability and lower cost to serve
Oct-14 TodayMay -16
~4,500checks/month
~20,000checks/month
6Support staff
7Support staff
4.3x increase in monthly checks
1.2x in the number of support staff (to process these checks)
$1.8m technology spend since Oct 14 (focus on automation and scalability)
For
per
sona
l use
onl
y
14
Automation delivers unmatched speed and quality
CVCheck – 1 hour
• Automation at the core of the system• Light or no touch points• API integration
• Speed Less waiting time• Accuracy Eliminate manual error• Scale Near unlimited capacity• Service Staff engage with customers
Example – Australian National Police Check
Online Competitor - 24 hours+
Police - 240 hours+
For
per
sona
l use
onl
y
15
CVCheck’s police checks access police data through CrimTrac
CrimTrac is the sole entry point for criminal record checks across Australia …
… CVCheck tap into the same database used by the Federal and State Police
WA Police
QLD Police
SA Police
Vic Police
Tas Police
NSW Police
For
per
sona
l use
onl
y
17
… and supported by “other” checks
Includes:• Traffic checks• Employment & qualifications• Credit & financial and business• Tenancy screening
For
per
sona
l use
onl
y
19
Market Drivers – a solution built upon a trusted service
The problems
Increasing need for checks• Increasing fraud and misrepresentation • Global mobility• Individuals becoming proactive
Current systems are old• Hard to obtain checks, many windows• Slow, manual process• Hard copy results lead to delays• Expensive• Lack of customer support and visibility• Insecure - open to fraud
The solution
• One-stop shop for all checks• Fast automated process• Instant result access online• Digital results – unlimited use• Cost effective• Local customer support• 100% visibility – live tracking• Simple and secure sharing
For
per
sona
l use
onl
y
20
Targeting a growing verification market of $650m+
• CVCheck has primarily focussed on promotion to the Police Check market in Australia• When taking into account the broader verification market, the potential Australian market is
much larger at $350m+• Police checks alone in key markets across the UK and NZ total $300m+• Significant greenfield opportunities exist across broader verification categories and
geographies
0.0
100.0
200.0
300.0
400.0
500.0
600.0
700.0
Market Opportunity inAustralia
Police Check MarketOpportunity in UK
Police Check MarketOpportunity in NZ
Total Market Opportunity
$ m
illio
n
Australia –all checks
UK & NZ police checks
Broader addressable
market
For
per
sona
l use
onl
y
21
Potential Market
$350.7 m
Australian Verification Market
Police Checks
$180.0m
Rental History Checks
$40.0m
Traffic Checks
$5.8m
Credit, Financial and Business Checks
$14.7m
Employment Screening
$110.3m
Excludes Greenfield opportunities
Sources: CrimTrac, Australian Bureau of Statistics, AHRI, Australian Occupation Matrix, DHS (Vic), NSW Department of Family and Community Services, QLD Housing Services, SA Consumer and Business Services, and various news reports
For
per
sona
l use
onl
y
22
Police check market in the UK & NZ ~ $300m+
NZ market opportunity $18m• 450k police checks conducted in NZ every
year• At the CVCheck price point this represents
an $18m market opportunity
UK police check market $282m • 4m+ checks per annum• There are two major sources of police checks in
the UK• DBS is the major repository for police
checks;• For international travel, many countries
require a check from ACRO Criminal Records Office
UNITED KINGDOM
Sources: DBS governing body of police checks in UK, ACRO Criminal Records Office, Department of Justice NZ
For
per
sona
l use
onl
y
24
CVCheck entered NZ through acquisition of Resumé Check
• Complementary screening and verification business
• Over 300 corporate clients in NZ
• Purchase price of NZ$2m– Upfront payment – combination of shares and cash– Earn out for FY17 and FY18 – 6.2x historical EBITDA
• Acquisition earnings accretive before integration costs– Positive EBITDA contribution expected in FY18
• Management team secured and key to regional growth plans
• Strong business development activity since completion
For
per
sona
l use
onl
y
25
Broad customer base, with deep corporate relationships
• Leading supplier of screening and background checks in NZ
• Targeting NZ corporates, over 300 clients
For
per
sona
l use
onl
y
26
Resumé Check – strong revenue growth, with positive EBITDA
Source: Resumé Check management accounts (unaudited)All figures in NZ$, year end 31 March
302k371k
476k
620k
784k
1,131k
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
FY11 FY12 FY13 FY14 FY15 FY16
Resumé Check Revenue (NZ$)
For
per
sona
l use
onl
y
27
Significant operational and strategic synergies
Partnering with a market leader in New ZealandNew geography
Operations across additional time zones to further enhance CVCheck’s service to its customersBroaden operational footprint
Significant new revenue streams, with large corporate customers that operate both in NZ and AustraliaLeading customer base
Strong management that have a long standing relationship with CVCheck, and deep cultural fitStrong local management
Drive NZ growth and efficiencies through use of CVCheck technology platformTechnology synergies
1
2
3
4
5For
per
sona
l use
onl
y
28
Part of the overall CVCheck growth strategy
• Direct to business and consumer marketing• Enhanced customer and web experience• Growth in outbound sales activities
Organic Growth
• Exploring strategic partnerships to accelerate growth• Acquisition and tech rollout blueprint honed by
experience in NZ• Cross sell across NZ and AU
Strategic Growth
For
per
sona
l use
onl
y
29
CVCheck secures exclusive right to provide Child Worker’s Safety Checks in NZ• NZ Vulnerable Children Act 2014 (the Act)
– Under the Act, any individual working with children in an organisation that receives state funding must be adequately safety checked
– Under the Act, such workers require safety checks every 3 years– CVCheck appointed exclusive provider for the NZ Ministries of
Health, Education, and Social Development
• Specific groups required to use CVCheck’s service include:– Health: GP owner operators; Locum doctors and nurses; Dentists;
Lead maternity carers and midwives– Education: Early childhood owner operators– Social Development: sole contractors whose work involves children
(such as holiday program workers)
For
per
sona
l use
onl
y
30
Further capital raising to fund CVCheck through breakeven
• $4.0m placement @$0.13– $0.7m settling immediately– $3.3m subject to refresh of placement capacity at the EGM on 10
August
• $1.6m fully underwritten rights issue @$0.13– 1 for 17 non-renounceable entitlement with record date in early
August– Opportunity for existing shareholders to participate
For
per
sona
l use
onl
y
31
Leadership
Steve CarolanManaging Director
Rod SherwoodDirector, Acting CEO, CFO
Chris BrownNon Executive Chairman
Reina NichollsNon Executive Director
Colin BoyanDirector, CIO
Craig SharpDirector, General Counsel
CVCheck’s Board
For
per
sona
l use
onl
y