On Friday, Bigtincan Holdings Ltd (ASX: BTH) announced the acquisition of VoiceVibes, a US-based company and leader in voice analytics for US$2 million. As of today, the Bigtincan ASX share price is hovering slightly above a dollar.
BTH share price chart
Bigtincan is a global software company that provides software tools and solutions to customer-focused organisations to optimise the performance and productivity of sales teams as well as any distributors. Bigtincan’s main product, the Sales Enablement Platform, is used by hundreds of the world’s leading companies like Australia and New Zealand Banking Group (ASX: ANZ), Nike, and Red Bull.
What is VoiceVibes?
VoiceVibes’ technology provides automated coaching that helps people sound more natural and polished when they speak, so they can transform how others perceive them.
An independent study by Towson University showed VoiceVibes was quite accurate in predicting ways a human would perceive a voice, which is coined “vibes”. All 20 vibes were predicted with at least 90% accuracy and 11 of these were carried out with at least 97% accuracy.
This technology will enable Bigtincan to offer automated coaching and sales guidance, helping improve the productivity of sales teams.
Bigtincan has advised the acquisition is not expected to have a material impact on its revenue or costs in the 2021 financial year.
The co-founder and CEO of Bigtincan, David Keane said, “VoiceVibes’ AI-powered coaching platform helps professionals make the best impression, every time they speak. By adding the patented VoiceVibes technology, Bigtincan expands our lead in AI for sales enablement and helps our customers train their sellers faster.”
My takeaway
At face value (or voice, in this case), it seems Bigtincan has managed to secure a valuable piece of technology that will enhance its existing platform for a small price. Bigtincan’s product offering continues to expand on the back of acquisitions, demonstrating its efforts to build the best possible platform for its users. Delighting customers by offering more products or services should help Bigtincan keep growing its customer base since it improves retention and helps attract new customers.
That said, I prefer businesses with a strong track record of generating organic growth by developing high-quality products and services through superior research and development, such as Xero Limited (ASX: XRO). There are other ASX growth shares similar to Xero in the article, 3 ASX tech shares like Xero (ASX: XRO).
