Norwood Systems Limited [ASX:NOR] saw a healthy 12.5% rise in its share price today.
The telco services company has been busy developing new channels of technological capabilities for its products.
The raising of capital to $2 million at the beginning of the year has gained strong support.
Client progress in 2018 has also helped with its rate of relevancy in the market. They have successfully built up their client base across key segments, including Virtual Business, Cyber Security and CRM.
Rise in sales and commercialisation help with Norwood’s popularity
Major international partners such as Oracle and Veritas continue to show their interest. They appreciate the encouraging evidence of Norwood’s stable business structure.
Near term upfront revenue and loyalty have ensured its enterprise will follow new opportunities.
In its ASX announcement Norwood CEO and Founder Paul Ostergaard stated:
‘This has been a strong quarter for Norwood, both in continued interest from top tier partners such as Oracle in our Corona compliance solutions, and in re-energised interest from travel and loyalty prospects in the now launched World Wi-Fi and World Secure products.’
Thanks to increased client satisfaction, Norwood have been able to further build up its portfolio to a higher standard. There is also a drive for development to its range of tech innovations and products.
What this means for Norwood
Norwood are confident in their ability to situate themselves for long-term success over the delivery of both existing and future products and services.
Recently, for instance, they completed development of World Secure. This is an automated security tool for IOS and Android.
World Secure enables organisations to help its staff members respond easily to cyber-security threats across new levels.
This proof of innovation is what Norwood is striving for.
Norwood have made sure to cater for the demand of the world’s largest businesses with its display of technological relevancy. And they aim to keep up with this demand.
For Markets & Money
PS: Discover why these five household-name stocks could be the first to lose you money when Aussie stocks drop dramatically. Free report ‘Sell These Five Fatal Stocks Now‘ available now