All right. I can see by my clock that we've kicked over to our past, so I think it's time to get this show on the road. Good morning. My name's Craig Sharp. I'm the Company Secretary here at Kinatico. This webinar is being recorded. It will be available on the Kinatico website shortly. It's a Zoom meeting. If you look at the bottom or top of your screen, depending on which device you're using, there is a toolbar. If you hover your mouse there, there's a Q&A box. If you have any questions during the meeting, please feel free to add those questions. Those questions will come up for the present panelists to see, and we'll be taking time at the end to answer any questions which haven't been answered as we go through the presentation. If we can move to the next slide, please. There it is.
We moved to the next slide. This is working well in all practice runs. Here we go. This is a formal but important slide. The half-on results that we are presenting have been reviewed by auditors. Any forward-looking statements that we make in the course of the presentation are based on assumptions, and time, space, and the limits of human boredom would not permit us to articulate all those assumptions for you. If you're going to make an investment decision, please make that decision on your own advice. Can we have the next slide, please? Kinatico, I'd like to acknowledge the traditional owners of the land. I personally come to you from the lands of the Whadjuk Noongar people. I pay my respects to their elders, past, present, and emerging.
Whilst we're thinking of others, it's worth noting on this somewhat dramatic day in parts of the country, our thoughts go out to all those affected by Cyclone Alfred. Please stay safe. Next slide, please. I'll hand over to Michael. Take it from here.
Thanks, Craig. Good morning, everybody. Thank you for joining. Today, we'll be going through some of the highlights of H1, some of our plans, customer wins, a lot of the data we traditionally share in these webinars. Most significantly, today, we'll be taking everybody through the much-awaited launch and demonstration of ComplianceX, our next-generation platform that we've been working on, investing in for some time, and now bringing to market, which we are very excited about. You'll be hearing from Jason Margach, our Chief Financial Officer, to take us through the numbers and some of the information behind those numbers, and predominantly then from Geoff Hoffman, our Chief Revenue Officer, who not only will take us through some of our sales wins, but then the background, the detail, and our plans for ComplianceX. With that, I will throw to Jason.
Thank you, Michael, and good morning to everybody. It's my pleasure this morning to be running through the half-year financial highlights, and equally so, as Michael said, the financial insights for the period ending 31 December 2024. These results really reinforce the business focus on our delivery of a sustainable, profitable growth. The results have been delivered on the back of a transformational year for us at Kinatico, in which the business has been focusing on the preparation for the release of this new and exciting people management workflow solution, ComplianceX. This is a solution that we look to showcase a little later on in this presentation. Next slide, please. Sorry, we're on the slide. A solid 49%—sorry, my apologies.
Sorry.
A solid 49% increase on corresponding period and slash revenue has supported the delivery of AUD 15.6 million consolidated revenue overall for the business. Our reported EBITDA at AUD 2.1 million is up 10% on the corresponding period and in turn has yielded a AUD 416,000 net profit for the half period. The business through the period remained cash accretive, and in fact, cash and cash equivalents were slightly up on the FY2024 year-end. Next slide, please. Taking a wider look at this insight, slash revenue itself continues to strengthen its contribution to the overall business revenue, which underscores its position as a key driver of the financial performance and long-term scalability for us as a business. AUD 2.6 million of cash inflow from operations in the period, which is up 68%, has allowed the business to reinvest this cash to fund innovative products and solutions without diluting shareholders' wealth.
Looking at this and to summarizing, our ability to leverage internal cash flow and maintain full control of our growth and product roadmap, aligning both of which to our long-term vision, positive operating cash flow has allowed us to fund AUD 2 million in product development without the need for any external funding. We've maintained a positive overall cash flow position, and improved profitability showcases our ability not only to grow at scale, but also to innovate with our own internal funding. I'd like to then take the opportunity to pass over to Geoff, who will take us through the rest of the presentation. Geoff, over to you.
Thanks, Jason. Good morning to all. This slide will probably be the last slide that we look at today that actually looks at where we've been. We're going to spend a fair bit of time actually about where we're going as a business moving forward, but I think it's always important just to touch on the highlights that we've had of recent times. As we've done in previous presentations, we always like to—it's a bit of a brave book, one may say, but it's our recent wins that we have acquired of recent times. The success continues, which is good. I think one of the—there's a couple of key messages in this slide. The first thing is that you would start to see is that we continue to be agnostic in market.
You can see that our wins across multiple sectors, multiple segments that we continue to focus on. I think some of the key ones that you start to see that come through on the slide is around health, education, energy, and even more so of late, a lot more in the government space. We are seeing just some continued success, and we may have some more things to talk about down in the future on that. There is some of our key wins. I think more importantly, moving forward, what we are about to show you now is a bigger win.
In business, knowing your people is not just important; it is essential. Managing screening, validation, and compliance can be complex. That is why Kinatico is revolutionizing people management workflow, just like Uber did for travel and Canva for design. We streamline scattered systems into one seamless, secure, and synchronized solution, giving you real-time visibility over your workforce and keeping you on top of compliance requirements. With Kinatico, the future of people management workflow is here. Are you ready?
Okay, fantastic. Obviously, I can't hear the round of applause that's coming from the other end due to us being on a one-way webinar, but that's pretty exciting for us as an organization when you can start to see what we're taking to market and what we're offering up to our customer base today. You can see it's actually how that's coming to life, right? In the introduction of ComplianceX, I suppose that video really captures the essence of what our offering is that we're taking to market. If we talk about the introduction of ComplianceX in the marketplace, this is obviously our latest version of our platform, that goes without saying. We will be going to market and marketing this as Kinatico.
If we look at the solution that we are currently taking to market moving forward, when we're looking at our customer base, one of the key things that our customers are looking for—and this is an overarching statement, but it really brings it to life—for our customers, it changes the management of workflow for their people, as Uber has done for rideshare and Canva has done for design. That really starts to hit home around what we're actually offering up as a solution.
All those disparate processes we've done in the past where we've had customers sitting there and they've got different types of screening and different types of validation, they've got ad hoc data sources, and all of these procedural pieces that are all sitting in sort of different areas, we now bring that into one simple, secure, and self-serve type solution, which is something that most organizations out there today are really battling with. We're about giving our customers that real-time insight so they know their people in a real-time environment through us serving up insights through dashboards, etc. All those tedious type tasks, right, that we know that organizations go through today, how do we help remove all of that pain for them, automate it, and let them get on with their day-to-day business?
We have touched on it in the past and on the lines of those people who are managing through Excel and all those other pain points of solutions and multiple solutions without having that one single source for solution, which is where ComplianceX comes into play. Obviously, through the design of it, there has been a lot of focus around end users being as a key focus around what that right user interface looks like, what the right user experience looks like. We believe we have achieved that from an administrative side of it when you have got the organization that is sitting there that is actually managing it all the way through to the mobile user at the other end. Looking to obviously remove all of that angst and negative energy that currently goes into those processes today within organizations.
Without saying, which is a big, big deal for organizations in the market and our customers, is that acceleration around integrations and having somewhat of an extensive list around plug and play on how people can actually get a good understanding of how they can plug into an integration within a matter of seconds. Next slide, please. I'll get into some of the research shortly. This sort of touches on it. We call it delivering the five S's. We've done some research, and I'll go through some verbatims from the client shortly, but they're looking for simplification. They're looking for how they can have all of their compliance and that procedural type management in one simple solution, as we would say from go to way. They're looking for transparency. They're looking for their data to be easily seen. They're looking for alerts.
They're looking for that data points that they can actually support them around forecasting and reporting. The other part of this, which is more important than anything else, is they're looking for that immediacy, right? How do I make sure that I've got this real time? Getting to our core values as we stand behind as an organization, privacy of our data is our highest priority, which is our core value. Organizations, they expect that today. It's part of the DNA in any business. It's a breathing air exercise. Somewhat, organizations suspect that that's front and center. Obviously, it comes with that around synchronization. How do I have that single view of all the people within my organization today, no matter what the employment type is, could be all the way from the ELT down to the front line?
When we're sitting there and we've gone through the work to build out the solution, when we talk about what's in it for me, we're talking about what's in it for the organization and the customer we're talking to. How our technology actually helps them truly know their people on a day-in, day-out basis. It's taking all those concerns away and the angst of that non-compliance. For some of you who may not be aware, that angst today is real. Organizations that are non-compliant have the risk around penalties and fines, and we all know the impact of that reparable damage that's come of recent times to blue-chip organizations in Australia. What we like to do is we take that focus and we make sure that we put that into the platform that we're offering up that gives them that holistic end-to-end secure solution.
Let's then get on with their day job, somewhat, so to speak. When it comes to making sure that they've got that real-time information that's served up to them with that immediacy, day in, day out, through the right controls. Next slide, please. I won't probably go through all of this because there's a fair bit that you could talk about on this slide, but I suppose more than anything else, what we like to do is we talk about how we solve customers' problems.
If you look down the left-hand side of this slide, this talks about all the challenges that clients have today, whether it's multiple systems, whether it's the concerns around cybersecurity, whether it's those decision-making delays that happen in organizations because they've got multiple solutions or they've got time constraints or whatever it may be, through to poor decision-making and even data that's actually put in different silos. What we like to do is do a lot of the simplification of that and the solution around that. If you go to the far right of the slide, these are some of the activities and actions that we actually put in place around supporting our customers to actually have the flexibility to get on and do their daily job while the actual solution works in making sure that these problems go away.
People are looking for that digitized workflow management. They're looking for drag-and-drop type control. We don't want to be in a situation of storing PO documents, okay? We know the risk that sits around that. Organizations don't want to have that risk upon their business. How do we make sure we have that instant creation and distribution of tracking of tasks, not just to any worker, but any employee, any contractor across department, could be across location, whatever it is to that, whatever that customer's needs may be. Obviously, I've touched on a couple of times around real-time data that can actually help them proactively manage their business and make sure they've got some type of risk matrix in front of them to understand if there's anything that's about to be a red flag for their business.
It goes without saying that you need to have two-way automated data that's transferring across systems and avoiding all those ad hoc sources in the past. Next slide, please. I touched on earlier a bit around our customer research. For the last 18 months, two years, we have an independent firm that we work with externally that does a lot of our customer research. This is not just through Net Promoter Score surveys, but this is more along the lines of sitting down and having 45-minute, one-hour interviews with potential customers, existing customers across different sectors, and understanding what their pain points are around managing compliance within their organisation. You'll see here there's a couple of key points. The first key point is we talk to all organisations, so we're agnostic. We don't go after a particular sector.
We see today in the marketplace, in the competitive landscape, that when you talk about compliance, it is very much people are focused on a particular sector. We are not. We are agnostic. You can see here in talking to whether it is education or utilities companies or construction or government, there is a similar theme that continues to come through. One of the standouts that you would see, and I will probably go to this one because it is the shortest one on the page and we do not have to read them all day, is across government healthcare. I will just read through the quote. Their response was, "Absolutely. It has identified my needs without knowing me personally.
It's absolutely on target for an online solution that I'm looking for." Now, that's gold for us because we know that what we've put in front of that client today along the lines of the solution we've got, the problems we're looking to solve for that customer or customers in a similar sector to them or generically across multiple sectors, we've hit the mark, which you can't argue with customer feedback, right? It's one of the core things that we stand for in our organization is making sure that the customer is at the center of what we do as a business. Can I go to the next slide, please? As important it is around making sure that you've got a solution that you're taking to market that offers simplicity, even more so when you start to think about pricing.
Pricing can get convoluted when you start to think about different types of pricing models. What we've done here is to focus on how we actually keep that as simplified as possible to make sure that organizations in their planning around budgets or whatever it may be, that they can simply understand how our model works. Very much focused around that per worker, per month type model. How do you make sure you've got the right model in place? Really depends on the amount of people that sit within your organization that you're looking to help hold to be compliant. We offer up an admin portal at the front that you could somewhat say, "Well, that admin portal is free, but it is part of the value of the solution." That includes all integrations and external interfaces and functions and features such as single sign-on.
That sort of goes without saying. You want to make sure that in any type of SaaS-enabled solution, not just in pricing, but you want to be able to facilitate instant sign-up and that ease of use. Whoever it is that's coming along to either be at the low end of the spectrum around small business, even to SME, all the way through to enterprise, that we are actually building something that fits all sectors and fits all types and sizes of organizations. Even to the point where you actually get a freemium type service where you get a trial for free. I'll touch on that a little bit more in a minute. Having that flexibility for organizations is really important around how people move through the product ladder.
You can even, as you work through the product ladder, if you wish to pay for select certain verifications as you go, that's available to you as well. To our customers, whatever end it may be, whether it's at the entry level at a freemium service, they're looking for mid-tier and they're looking to add on some verifications, or they're even looking for the all-you-can-eat, as we may call it, model, all the way out to enterprise. That is sort of explained a little bit below around the chevrons that you can see across the bottom of the slide there. I'll go to the next slide and give you a little bit more detail on that. Obviously, pricing plans, you want them to be simplistic, right? You don't want to be in a situation where they're complicated. You want them to be self-serve.
We don't want to be in a situation where we're hand-holding customers around pricing solutions. In this instance, you can see here around how you can start free and scale seamlessly. As you're seamlessly going up the product ladder through a tiered model, it helps customers grow with the pricing model. The opportunity for a small business, as they grow, is they can start to unlock some of those powerful features. You can see here through the tiers that you can start out with a starter package, which gives you your basic principles of what you may need for your organization. As I touched on earlier, as you get into the core solution, where those features start to come through, you can add in add-ons if you choose to around whatever those verifications that you may need for your organization, obviously chargeable.
That leads into your premium type solution, where you can see that at the far right of the slide. If customers are looking for something that's a little bit more up level and it's got a bit more complexity about it, we'd have a conversation with them about enterprise. We want to make sure that this is quite simplistic from a self-serve perspective all the way through to communication in market. I'll now pass over to Michael.
Thanks, Geoff. You can see the change in the pricing model that we're introducing there is a classic SaaS model. We've worked through with the research that we've received, the customer interviews we've done, we're very comfortable with where that now sits. A key one for us is that under five users, we're not going to charge for.
Supporting small businesses, supporting companies that want to trial it before they get in and deploy it more widely, everything is designed to remove friction of uptake. We're very confident about the stickiness of the solution, of giving companies that simplicity, that transparency, the immediacy, and that comfort of knowing the actual status of your organisation becomes very addictive. Once companies start to use it, they're highly unlikely to want to move away, or for that matter, once you're fully integrated across the organisation, it makes it quite difficult to move away with change management. We see a lot of benefits there. If you look at the question we often get, and with any product, what is the potential market that we're going after?
The regtech ESG reporting software market in Australia is already in excess of AUD 1.2 billion in total for a total addressable market. All the way through, when we look at what we feel we are going after in the serviceable, obtainable market, is 1-3% share of that would equate to somewhere between AUD 10 million-AUD 30 million worth of incremental revenue against this product. The market is also growing at the same time at a double-digit CAGR. Therefore, as we get further penetrated, the opportunity gets larger at the same time. As we can see in 5-10 years, the potential market share here is in excess of AUD 200 million-AUD 300 million. What are the things that are driving it? We've got all kinds of data penalty fines. We've got all kinds of regulatory obligations. We've got shareholder obligations and expectations.
There is a need for efficiencies and clarities across business. It's one thing to have a need to do this kind of reporting and management. It's another to do it efficiently. That is where targeting that efficiency, targeting that time saving, making this easy to deploy, have it unobtrusive in your day-to-day business is where we see our sweet spot being. Everything we've done in the product we're about to demonstrate is targeted at delivering that. We're also seeing that this growth driver is ubiquitous across all industries. Some are larger than others, but all of them are in play. In terms of the competitive landscape, who are the competitors that we're up against? In many of my presentations, I've mentioned SafetyCulture. We admire them greatly for what they've achieved. It also comes as a very strong proof point about the need and the opportunity.
There is no one all-dominant player at present. This is a greenfield up for grabs. This is an opportunity to move fast. We believe we have substantial headstart to market with not only our institutional knowledge, but also the development we've invested in seeing this opportunity and going for it. Anybody trying to break in now still has a lag time while the established or live players, if you will, are actually taking ground. We're also at a point where, with whether it's economic uncertainty or macro impacts, new funding for new entrants at the micro small level is challenged. We, on the other hand, have no need for external funding. As Jason has mentioned, we've managed to actually build this while staying cash-accretive. Getting this out to market, and as we see with the market opportunity that we're going after, does highlight the things that we can do.
What does the investment look like? I mean, why do we believe this is such a game changer? In the short term, it is about revenue growth. It is about the opportunity. Our pipeline for this offering has continued to build. The number of opportunities and existing customers that we've engaged with on ComplianceX and our future prospects, I'm feeling bullish about. In the midterm, the market will continue to grow. This is going to be an awareness growth situation. Wins will beget wins. All organizations are looking for some kind of solution there. We very much believe that a bit of momentum and traction will rapidly accelerate more momentum and traction. In terms of the resilience of this marketplace, this is a non-discretionary spend and therefore inelastic demand. Companies have to do this.
At the Business Forum, I think I believe in Adelaide or Sydney this week, front page of the FIN review was all about companies saying, "The overhead of compliance is getting out of control." That is exactly the place where we play. What does it mean for us? We're either going for ongoing revenue increase, as Geoff mentioned with the pricing model, 80-85+% gross margins. As we get that, we're either going to continue to grow our profitability, our cash accretion, and all of the targets you would expect us to have, or we're going to get taken out. The trajectory of proving being in the Australian market, on one hand, we have this lovely tapped Australian opportunity before we go international, and ComplianceX is absolutely internationally applicable, is that the Australian companies with the currency, with the weighting, etc., are incredibly cheap.
We believe we are very, very undervalued. What does that mean, though, in terms of our revenue? Now, taking that sum, the serviceable, addressable market, and overlaying that on our current revenue, if we were to achieve that, this is what it would look like. That is just in that scope of the 1-3% market share. It really does demonstrate what the size of the market opportunity is here. The question I have already seen on the webinar, to answer them as we go, where do we see this playing in organizations and for which departments are we targeting? All of them.
As you'll see when we get into the product, this is designed to help the workflow for all parts of the org, whether you're in pre-employment with HR and managing your policy and procedural things ongoing, whether you're in risk and you have to manage the actual procedural fulfilment of your risk mitigations, etc., there is a role and an application that you're playing there. Whether you're a department head and need to know what you're managing within your day-to-day or your projects that you're kicking off, other things you're going, this product works at every level for every department and with data access controls, meaning the administration portal can actually be managed for each department. The admin portal, by de facto, becomes tailored for every one of those sectors. With that, I'll throw back to Geoff.
Thanks, Michael.
I think Michael just touched on a really good point. These next couple of slides, I think, will help people understand this a little bit more at an organisation level. If I would somewhat say a picture is worth a thousand words, this is a good example right now today. If you think about our customers or potential customers in the marketplace, let's just walk through what that looks like for a business. In this slide, you'll see on the left-hand side you have the organisation. You have a lady sitting there today who's managing compliance within the business. In the past, that has been ad hoc systems, all the things that we've touched on here today, whether it's Excel that we've touched on in the past. It's been highly complex and in a way that they're managing numbers of different spreadsheets.
To Michael's point that he's just raised, this solution actually covers all departments of the business. It's highly configurable to whatever the need is within the department or the role that you currently perform today. The organisation today, they're looking for those automated people management workflows. Now, we're just not talking about a couple of different sort of roles in an organisation here. We're talking from ELT down to the front line. This is all roles across all departments across an organisation. Doesn't matter what sector you're in. The organisation, they're looking for today, they've got data that's coming from multiple platforms. The good thing about ComplianceX is we become the hub in a hubspoke model. To be really, really clear on that is we are the aggregator of the compliance data that sits within that business.
That offers up all configurable, however you want to run it, automated reminders and escalations. The reminder you might want to set for a week. You might want to set it for three months. You might want to set it for 12 months. It totally depends on what your needs are and what your requirements are that sit across your business. Now, as the person in the organisation, which you've got this lady sitting here at her desktop, obviously the security controls that you'll see in the middle of the slide, that's sort of somewhat the invisible layer that goes on in any organisation around making sure that data is secure. Through all the things that we need to do today around making sure we've got all the right measures in place about making sure that data is sound and secure, that just goes without saying.
The most important part is the employee at the end on their mobile is having something that's simple, easy, simplistic to engage with. They get immediate notifications where they can respond immediately back to the person in the main office that's sitting there on their laptop managing the compliance. I think the more important part here is it's not just for the employees. It could be for the contractors that work at that organization. If you start to think through a company today that's sitting out there trying to manage compliance, this is a solution that actually simplifies everything into one central environment. The additional part that comes with even a lot larger value for us is those extensive integrations.
There is not one organisation that you will talk to today in the market that is of a small, medium enterprise to an enterprise that does not have an integration with someone. We believe that is a huge selling proposition for us in market, being able to configure with these people quickly and bring it to market so people have got an ease of access to whatever data they may need to be compliant within their organisation. Next slide, please, Michael. Before I pass back to Michael for the demonstration, this slide really depicts, I suppose, more so than anything else around people management workflow. We have shown a slide similar to this in the past, but it has been along the lines of where we sort of started as an organisation and where a lot of our competitors in a screening space have stopped.
We're stepped into a lot more around compliance, around the life cycle of an employee with an organisation, more than just that front-end piece. If you think about the importance of, and I'll start with hiring because this is where the life cycle for an employee starts in a business or a contractor, whoever it may be. They go through that candidate assessment. They go through the credential verification. They go through compliance tracking. All the componentry that they need to do to be brought on board within a business. A lot of organisations today, once the hiring's done, they drop into the ether. Are they compliant in six months to their role? Who knows? With what ComplianceX does is once you're actually onboarded, we've got digital documentation.
We go through a process where we can have everything through ComplianceX around policy acceptance that you actually go in and you're engaging with the employee. There's training assignments. Those training assignments might be integrated with an LMS tool. That'll plug straight in. More importantly, as you sort of move forward and you get into that longer life cycle of a person within a role, it comes down to the management of that person day in, day out. What's the procedures in the business that they need to be assigned to? Are they going to working from home policy? Do they need to be audited every quarter because they're involved in a particular function within the business? What's the ongoing certification to make sure that they're actually relevant to the role that they're actually doing today? More importantly, where's the real-time data?
Where's the performance tracking? How can I serve that up with some immediacy to make sure that I'm actually compliant to my role at a point in time, which is obviously what an organization and what our customers are looking for? As important as someone offboards, they go through an exit survey to exit the business for feedback for the organization. They go through asset recovery, whatever tools that they currently use today need to go back to the business. We actually go through an access or termination access. What's really important around that is you've got an auditable log. You know all the way from when a person started with the organization to when they left an organization, you have got a compliance history of that individual in your organization.
Across the bottom, it goes without saying that we offer up intuitive insights. Obviously, with no doubt, this is going to increase productivity across organizations. That just goes without saying. The error reduction is key. Touched on it before. Michael's touched on it. That reparable damage, those penalties and fines, that impact that's had in the market today around people who are non-compliant, that is a scary place for a business to be. When we talk to customers today, their concern and what they talk to us about is they're more worried about being non-compliant than compliant because they know the risk. Their win is, how do you help me get compliant within the organization that I'm in and the industry I sit in with the sector that I'm currently working within?
All the other things that come with that, supporting clearer decisions, integrated security, and having less risk with high visibility, which is also along the lines of being able to proactively manage and understand, when am I going to have someone in my organization that potentially will be non-compliant? Michael, probably enough from me. I'll pass back to you.
Thanks, Geoff. I think it's time we have a look at the product. What we're going to show you today is we've actually recorded me navigating through the product, and I'm going to narrate it as we go through. We've done it this way to ensure both simplicity of technical delivery within a webinar, but also so we can show you the effect of the user on a mobile screen at the same time while an administrator is seeing the dashboard.
With that, let's, as they say in the classics, roll the tape. What we're going to show is somebody here who's come in, they've gone through the website, they've clicked, "Yes, I would like to sign up." Here we have somebody signing up to the platform on a web-based situation for the first time. I'm going to generate the usual things, my identity. There are two-way verification. Having done that, we've got the email confirming it. We set up the account. Which platform do I want to or which tier do I want to initially subscribe to? Here we're in the core tier. Straight into enter your credit card. Enter the details. Zero initially, but then AUD 15 a month plus whatever add-ons you choose to do for this tier. Processing. That customer is now live.
The first thing, and I've often spoken about this, is our big challenge has been the time it takes us to integrate a new organisation into the platform. Here we're going to show you the extensive range of integrations that are available straight out of the box day one. Here, this is a live recording of us integrating into a third-party HR system. We're going to load all of that organisational data from their existing HR platform. I can see the fields. I use an administrator access and then what's referred to as an API key that is provided by the HR provider or platform provider. We've connected. Now we can see what data we can actually connect to.
In a very, we think, innovative new feature, while it has automatically matched all the data, we give you the option of actually changing it if there is a mismatch. This is one area that has traditionally taken a lot of time during integration. Here we have automated self-service simplified. We are now loading the company data. There is the integration. It is merging the data with the platforms. This is a two-way sync. The changes in one system get reflected in the other automatically. There we have our company loaded. Now within ComplianceX, I can see my organogram. As you build up your compliance information, the organogram starts to color code to actually allow you to instantly get visibility of departments, areas, roles, people straight away. Not all organizations will have an HRIS, particularly smaller ones. You can also add people manually.
Now, in this instance, being that we've synced with an HR system, adding somebody manually will automatically add it back into the HR system. We're going to load this user. Of course, we've blanked out PI. You can see in the existing org, who do they report to, where do they fit in. All of these requirements have been simplified. That user has been added. The next thing is we need to allocate the task. This is where we start to see the drag-and-drop interface. A new portion for the platform is our library. All of the standard things are available. Your add-ons, because you're in core tier, if you're in the top tier, these have all been included. All of the traditional things that CV Check has provided for many years are available as part of a SaaS product.
Something that I've alluded to before is we will open this platform up to third parties to populate and add to this library akin to an app store. Description of what the task does. One of the key things that we see in this platform being a real value add is the ability to create your own tasks, policies, and procedures. I can use a template. I can import a form. In this case, we're going to create one from scratch. Here, we've again simplified the process of creating an automated workflow. I choose what icon I want to display in the library there, what it is they want to do. You are now seeing the creation of a mini phone app that we want a worker to do. What is the display that is going to be needed?
Let's put a heading on it. We have a preview button at the top screen that I can actually show as I build this app, what's it going to look like to the worker? When I say an app, it runs within our app. Imagine an app within an app, an applet, if you will. I can put logic in it. Here with simple form that we're creating that actually wants people to confirm they've done something. This could be enhanced with, and I want you to take a photo of that, and I want you to write free field text. All of those are in the toolkit there to be able to do. For the purposes of today's demonstration, we're doing three simple questions. There's my preview. Save it.
Button slightly off screen is green saying we've created that, and there you see it added to the library. That is now available across the organization to be used and allocated. How do you actually send it to somebody? Here's task management. We've got our organization. I want to allocate a task. What type of task? Which department? I can allocate this to the company. I can allocate it to a department, an individual set of people in the same role, down to an individual or a discrete group that I set up. It has infinite flexibility. Drag and drop the tasks I want to allocate to that department. When is it due? What's the repetition date? Is there a reminder that we want to send them? Who actually gets to also see this data? There we're going to allocate.
Off screen slightly, you can't see the processing option. And done. I can even edit it. If there's something I wanted to change in that setting, we can actually post-edit it. Now let's have a look where that sits. If we go home, this is our pinned dashboard. These dashboards are eminently configurable, and we will show more of that shortly. We now see the worker that we've sent this to has been sent an email inviting them to download and connect on the mobile app. The email actually gives them a temporary password that they have to use to log in. Of course, they need to immediately change it. Once they've logged into the app, first thing, of course, terms and conditions, privacy agreements, etc. There we're in the app. There are the tasks. As simple as that.
Now that's the prototype we saw. User is confirmed, clicked all of that. They're going to now accept the anti-discrimination policy that was actually sent to them all at the same time. If we look to the left or in the dashboard, you just saw the little bars update. The completion of our status has actually gone up. Now we go in the insights dashboard. I can see instant visibility across the organisation of where everything is at. I can deep dive. I can click on one of those. I can go in and see who is generating that data or what needs to be done, what are the automatic escalations that have been done in that. Of course, I can also export that as a report. My fat finger's typing there. There's our generated report.
Of course, I can export, download as a PDF, or any other format that is applicable for further analysis. There we have a brief introduction to the platform. If we go now to bring back up the presentation, we will move to questions. I notice there's certainly plenty there that I'll attempt to answer. Please feel free to put them into the online chat. We'll go through them. The first question there, how does ComplianceX compare with the offering of competitors? We think the uniqueness around ComplianceX is where the fact that we have focused so much on the usability of the platform. So many of the other things that we've seen going out do focus on the process of compliance adherence at the expense of usability.
Whereas we've taken the need to achieve the compliance requirement as a given, and then we've built the framework that is infinitely, you can build what that compliance requirement is. What this platform does, what our differentiator is, is that both for the worker and all of the admins in an organization, it is incredibly intuitive, incredibly easy to use, and allows them to perform this function quickly and efficiently, not taking up too much of their day. Another one is whether we expect ComplianceX to cannibalize existing revenue. That is ultimately our plan, to get as many of our compliance customers onto this product as quickly as possible. We don't see that as cannibalization so much as the opportunity to further uplift the revenue per customer because they're getting greater value.
It is not, if there is that actually coming through, it's not going to be an initial downturn or anything like that because you're immediately into a higher value product. At the right time, we will start reporting the number of workers, etc., we have on ComplianceX. This is our SaaS product. This is our future. As I've said before, we will maintain CV Check in market as a brand and a product, but it's primarily a sales acquisition tool into the broader play. The question then on what is the global TAM for this product? I've seen many, many numbers, and I didn't want to put one in because most of them, well, they A, vary. B, they're stupidly high. On average, the current TAM for regtech and GRC type software globally is in the vicinity of $60 billion-$70 billion.
The next question is, what's the plan of selling additional products into the existing customer base? We have already started showing this product to quite a few of our existing customer base. The response has been very strong. The plan is ultimately the more we can get within singular platforms, etc., onto this unified view, the better. Because as we roll out new features and functions, etc., they all automatically get access to it. That becomes part of that overall growth strategy. The next question, we've got references to AI. What's our plan around AI? There is already a lot of AI in this platform in terms of the way it functions and does intelligent things. We then have much larger plans of AI.
The next version of the task builder that we took you through today that we are playing with already is an AI version where you simply ask it to build you that workflow, and the AI has the first crack at it and generates it. We can see that coming to market probably within the next 12 months as we roll that out. The good part is that automatically with this framework becomes available within ComplianceX automatically. It is not a major step for any of our clients. Next question of what do we see as a main barrier to adoption? The awareness is a big one. The research was also, this could have such large impacts on my company, how do I try it easily? Which is why we came up with the five users for free.
The biggest barrier is getting people to try it. Our feedback, etc., is there's that initial, this can be all seen as a bit scary, but as soon as we get them past that and trialing that, generally we found we're off to the races. Plenty of questions there around the international potential and what are our target markets. We have aspirations. This year, calendar year, we are focusing on Australia. No question. We do want to aim, we have aspirations about progress within internationalisation the following calendar year. The markets we've been investigating are Europe, primarily the U.K., but also Southeast Asia and the subcontinent. If I was, I'd be guessing which one of those would be our first target because they're all progressing similarly. I say that, that they're progressing is because we're not going to take a distractive high investment punt into a market.
We will very much launch in the market where we're fundamentally partnered up with somebody or one of our existing customers who has an international presence, but we go on the coattails with a high degree of certainty and success. We will not be gambling with trying to break through into an international market. The people we are talking to, again, we very much receive the same level of responses that we have with our testing in Australia. Another question there about what are our plans to avoid being taken out too cheaply as an organization. We will continue to do what we're doing as quickly as we can in building that value that while continuing to make us more attractive also makes us more expensive.
Ultimately, if it's going to happen, we need to make sure that we've got it to a position where the value for our shareholders is they're very happy with. In the end of the day, if it happens, it's not our decision, it's the shareholders. Growing as fast as we can, whether organically or inorganically from a capital structure, is also part of that. Another question is to reach the one- to three-year target, do you need to win new client logos or just convert existing? We need to win new. The progress we've made, you saw the Geoff slide with all of the new logos that we've got there, the pipeline that continues to grow that I've mentioned numerous times, that is a pipeline of new customers. That's not converted existing customers.
We are comfortable that ultimately getting to that revenue space and moving up top-level revenue, we need to bring more and more customers in the play. When will this be in market? We will do retail launch in coming weeks. By retail, I mean available via the website, map, self-service, sign-up, etc. That is when you'll be able to go to the website, as you saw in the demo, click on it, enter your credit card, and you're off to the races. We are already working with some customers already, but we will make sure we launch that at the right time. The question I've got, what platform were new customers one on? Not this one yet, but we've announced because that was the existing platforms that we have today. Another question, will this be offered within an HRIS system?
We do not have plans at this stage of partnering with an HRIS system. The whole point of the integration is that there is going to be a large number that you can actually choose or select. Part of our ongoing strategy is that we do see partnerships, strategic tie-ups, a combined offering, particularly in markets other than Australia, where that makes sense. It is not something we are excluding, but it is not something we are also looking to expressly target. Our primary aim here is to grow reach. We believe our best way of doing that is to be an aggregator rather than limiting our choices at this time. What are we seeing in terms of the market, in terms of the $ 15 and the $ 24 offering? It is going to come down to, and the research has sort of shown this.
To split 50/50, depending on the attitude within the organization. Whether you go 15 and then ad hoc pay for verifications, or you go 24 and all of the verifications you need are included, net result is the revenue sort of equalizes out between them. We are not targeting that, but we do see that probably, I think a lot of customers are going to come in initially on the 15. If they do that and do not use any verifications, that is fine because that only drives up our gross margin. Okay. Anything else? Just looking if there is anything else that I have missed. Just very conscious of time. Craig, I think we will leave it there.
All right. Thank you very much for your time. As previously advised, there will be a copy of this going up live. Not going up live. There will be a copy of the recording available on the Kinatico website in coming days once it's processed and the marketing team do their thing. Again, thank you all for joining us.
Thank you very much.
Thank you.
Thank you everybody.