GetBusy plc is a growing international business that specializes in digital document management products. Though based in the UK, GetBusy’s software is utilized by businesses in the United Kingdom, the United States, Australia, and New Zealand. With over 58,000 customers, GetBusy has poised itself as one of the leading developers of digital document distribution software. This software is especially useful for legal and financial organizations that need to securely transfer and certify documents via the internet.

GetBusy currently has three main products.

  • Virtual Cabinet is a document management software that’s popular in the UK, Australia, and New Zealand. In fact, right now it’s being utilized by twenty-seven of the top one-hundred largest accounting firms in the UK.
  • SmartVault is a similar document management software that has won several awards through the years and is an established name with many US businesses.
  • GetBusy is a client chat product that is currently in development and that GetBusy plc is hoping will “help customers create stronger relationships with less effort, help users become more organized and productive, and reduce their administrative burden.”

Over the past year or two, GetBusy has seen a great deal of growth with its number of paying users increasing from 1,100 to 58,600 and total users exceeding one million. In addition to this, GetBusy has recently signed an integration partnership with DocuSign, one of the leading providers of eSignature solutions. And all of this has led to tangible momentum with total revenue up 14% in reported currency (18% at constant currency) and recurring revenue up 18% in reported currency (23% at constant currency).

GetBusy’s CEO, Daniel Rabie, summarized his company’s optimistic outlook when he recently said, “We’ve also had tremendous early success in the UK converting to a pure subscription model, with year-on-year growth of 16% compared to 5% for FY17. We have launched our cloud-based SmartVault product in the UK and Australia and already secured our first SmartVault customers in those territories…Moving into H2 we will seek to capitalise on favourable market conditions and data points to increase our investment in customer acquisition in all territories.”

Because of this generally rosy picture, broker Stockdale has increased their target price by 50% to 72p, reiterating that GetBusy is currently a stock to not only watch but to buy.

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