Why IntelliHR CEO wishes he'd listed a year or two later.

If you'd said to me five years ago, would I invest in a Software as a Service company, my answer would have been what the bloody hell is a Software as a Service company?

That's the problem with being at the start of the innovation curve.

It was 2015 when, IntelliHR [ASX:IHR] threw open its doors to the world.

Their founder, and CEO Rob Bromage told me he sometimes feels they have been paying a price for their early entry, for some time due to the lack of market place awareness about the company's technology and what it can do.

Although he believes that is now changing.

IntelliHR is a data analytics-driven human resources platform designed to help companies grow their business.

Despite the early entry into the market, he believes the SaaS business has survived for five years because it is incredibly efficient use of capital and targeted marketing.

He also believes intelliHR is significantly undervalued if compared to similar businesses.

In fact, Bromage is so happy with the level of his team's efficiency, particularly sales, that he now wishes the decision to list on the ASX had been delayed for a couple of years.

"We've probably spent three million dollars in compliance costs being an ASX listed company. What I could do with three million dollars in a SaaS business today is quite astounding." he said.

"If you compare us with competitors, that offer cloud-based HR, Payroll, Rostering/Time & Attendance Software, figures show salespeople are closing about two and a half deals a year.

"I'd be upset if my guys are doing that in a month"

Here are some relevant stats on intelliHR:

• Has more than 80 clients.

• Posted a 98% increase in customer receipts over last year.

• Has a rolling 12-month revenue retention rate of 124%.

• Claims significant increases in the rate of monetising it's subscriber base.

• Has $4 million of cash reserves on hand.

• Quarterly operational cash costs across the last two-quarters stable at $1.02 million per quarter.

I caught up with Rob Bromage to find out why he thinks the company remains undervalued.

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