Info-Tech Systems is a leading and award-winning provider of cloud-based Software-as-a-Service (SaaS) HRMS and accounting software. Our main product line is a proprietary cloud-based one-stop HRMS solution that helps organisations streamline their processes, improve efficiency and enhance workforce management. It has nine modules that cover main HR functions including applicant tracking, time attendance, project costing, payroll, leave management, claims management, performance appraisal and e-scheduling. As of June 2025, the HRMS solution has over 850,000 active users across more than 23,000 organisations.
Info-Tech also has a proprietary cloud-based Info-Tech Accounting Software, which is complementary to our HRMS and allows for streamlined processes, improved data accuracy, and enhanced reporting capabilities which provide organisations with a real-time picture of their financial situation.
In 2023, we launched Info-Tech Academy for Singapore Workforce Skills Qualifications (WSQ) training courses and our AI-driven job portal, Jobs Lah, which are complementary to our other two solutions.
2. Profit for the period in 1H2025 decreased by 23% as compared to 1H2024. Were there any reasons contributing to this?
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The decline was largely due to one-off listing-related expenses of $2.0 million and one-off Malaysia office relocation-related expenses of $0.1 million. Excluding these non-recurring expenses, adjusted net profit would have grown 9% to $7.2 million.
3. Annual recurring revenue grew strongly in the previous FYs. What is the group doing to continue this trend?
Our key goal is to expand our customer base across all four markets, with a strategic focus on the high-growth SME segment, which makes up at least 95% of all companies globally. We have already achieved strong momentum, particularly in Singapore and Malaysia, where we are the leading vendor for HRMS and accounting software solutions for SMEs. We intend to maintain this market leadership while continuing to grow our presence and gain market share in Hong Kong and India.
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We also plan to roll-out new AI-powered modules, including an AI-powered chat tool designed to streamline HR operations by providing instant responses from our customer’s HR data. We are currently developing a customer relationship management (CRM) software which will be launched in early 1H2026, enhancing our ability to offer a comprehensive, end-to-end suite of solutions for SMEs.
4. Does the group have a dividend policy, and how does it plan to reward shareholders?
We do not have a fixed dividend policy, but our board is committed to delivering consistent and sustainable returns to shareholders subject to various factors such as the company’s performance and our working capital needs. As a reflection of this, we expressed our intention to recommend and distribute at least 50% of our net profit after tax (excluding exceptional items) for FY2025 and FY2026.
For our 1H2025, we have declared an interim dividend of 1.55 Singapore cents per share, representing 55% of the group’s adjusted net profit after tax in 1H FY2025, making good our commitment at IPO.
5. How does Info-Tech plan to navigate competitive pressures, increase and retain users in the SME-focused SaaS market?
We believe our customer-centric development and service excellence sets us apart. This approach has translated to consistently strong customer retention. In 1H2025, our gross customer retention rate was 94% compared to the industry average of 70%–85%.
Having been in this industry and serving SMEs for over 18 years, we have a deep understanding of their needs and challenges. SMEs want easy-to-use, simple implementation and cost effectiveness. SMEs also want dedicated customer support whenever issues surface, due to their nature. Lastly, SMEs want a locally compliant system to prevent violation of local laws and policies. Info-Tech has a strong record in all these areas:
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- Our system is “plug-and-play”, very easy to use. Once installed, the customer can use it straightaway with some brief training.
- We assign two dedicated support staff to every customer — a primary and a backup — thus ensuring that no context is lost and there is always a covering arrangement in place. We also have an industry-leading four-hour response time.
- Our solutions are cost-effective and in fact, first-time SME customers in Singapore can apply for the Productivity Solutions Grant, which will cover up to 50% of Info-Tech’s pre-approved solutions with a cap of S$30,000 annually.
- Our customers’ feedback is very important to us. They are encouraged to suggest improvements, and many such suggestions have gone on to be implemented as product features.
- Our solutions are tailored for each market to ensure that they are fully compliant with local policies.
6. What is Info-Tech’s strategy for expanding into new/existing geographic markets, and are there any regions being prioritised?
We adopt a disciplined approach to geographic expansion. For new markets, we conduct in-depth studies on market potential, customer affordability and other key factors. At the same time, we continue to grow our existing markets. India offers significant long-term potential, while we are expanding steadily in Malaysia and Hong Kong, with further opportunities to extend our presence beyond Kuala Lumpur in Malaysia. This balanced approach allows us to pursue growth prudently, while maximising opportunities in both new and existing markets.
7. How is Info-Tech preparing for the evolving regulatory landscape, particularly around data protection?
Info-Tech takes a proactive approach to data protection and regulatory compliance. As data protection requirements evolve across the jurisdictions we operate in, we remain highly adaptable and responsive to local legal frameworks. Our team ensures that our products are tailored to meet these regulatory requirements, delivering reliable and effective solutions to customers across different regions.
Data cybersecurity is also a top priority given the sensitivity of the customers’ data we handle. We implement robust data cybersecurity measures to safeguard our customers’ data thus fostering a relationship of trust and reliability with our customers. Such measures include penetration testing, data encryption techniques, multi-factor user authentication, and limiting access control to safeguard such information. Our commitment is further validated by ISO 27001:2022 ISMS Certification, Data Protection Trustmark and Singapore’s Multi-Tier Cloud Security (MTCS), reinforcing our position as a leading and trusted HRMS provider.
8. What are some of the key ESG factors that are material to Info-Tech and how can that create long-term value for your shareholders?
We recognise that environmental, social, and governance (ESG) factors are integral to sustainable growth and long-term shareholder value. Key ESG areas material to our business include data privacy and security, responsible digital practices, employee development and well-being and strong corporate governance.
By maintaining robust data protection and privacy standards, we safeguard customer trust and strengthen our competitive position. Investing in employee development and fostering an inclusive, ethical workplace enhances productivity, innovation and retention. Strong governance practices ensure transparency, accountability, and risk management, underpinning long-term business resilience. These initiatives will support sustainable growth, ultimately delivering long-term value for our shareholders.
9. Will Info-Tech consider acquisitions of other companies for inorganic growth? What geographies or companies is the group targeting?
We remain open to acquisitions as a potential avenue for inorganic growth, particularly when opportunities align with our strategic objectives and can create long-term value for shareholders. While we do not have specific targets to announce at this stage, any potential acquisitions would focus on Singapore companies that complement our HRMS and Accounting Software offerings, enhance our technological capabilities, or provide access to high-growth markets. Geographically, we are primarily focused on Singapore companies where digital adoption and demand for cloud-based solutions have significant potential to grow.
10. Why should investors take a closer look at Info-Tech?
We are debt-free and the funds that were raised at our recent IPO will enable us to accelerate our growth plans.
We have a strong track record of expanding into new markets. We established our market presence in Malaysia, India and Hong Kong within four years, between 2018 and 2024.
Across the four markets in which we operate — Singapore, Malaysia, Hong Kong and India —the SME-focused cloud-based HR and accounting software sectors are estimated to grow at a CAGR of between 7.2% and 11.9% from 2025 to 2029, according to Converging Knowledge, an independent market research company, which bodes well for the group. Info-Tech has grown alongside our SME customers, earning their trust over the years. We remain committed to meeting their evolving needs and delivering sustained value through our continuous efforts in product innovation and software development.
Additionally, Info-Tech is well-positioned to capitalise on the push for digitalisation that has driven the increasing adoption of cloud-based solutions particularly among SMEs. Supported by pro-digital government policies, companies across various industries are moving towards SaaS offerings such as ours as a key part of their digital transformation efforts.
Raphael Lim is an associate director of research and FinLit at Singapore Exchange Group
