Larry Dignan
for Between the Lines
| June 27, 2021 — 22:00 GMT (23:00 BST)
| Topic: Digital Transformation
View transformation through the customer and business lifecycle. Those IT operations were designed to enable a business lifecycle that walked SMBs from the startup to branding to growth and optimization phases.
Once phases of the lifecycle are clear, develop customer-centric products for pain points. Deluxe is now focused on payments, cloud products including everything from web hosting to marketing to digital engagement as well as promotional tools and checks.
McCarthy said on Deluxe’s first quarter earnings conference call May 6:
Our transformation into a sales-driven payments and trusted business technology company is yielding results and will accelerate with the addition of First American. Our One Deluxe strategy is clearly working, and our execution is strong. This really is a new Deluxe, a payments and trusted business technology company.
Going forward, McCarthy said that the economy’s reopening should accelerate Deluxe’s sales as SMBs recover. He said:
We do see small businesses continuing or accelerating reorder of core products. We mentioned that in our promotional products business. The business we have there, which is business essentials is a pretty good leading indicator of what’s happening in the marketplace because those are forms that people and businesses use in the normal operation of their business. And we’ve seen a very healthy rebound there. We’ve also seen good growth in our incorporation services that new businesses use, our web-based and our cloud-based corporation services help businesses incorporate.
We think small business formation continues and that we’re especially pleased to see small business to start recovering as well.
Wall Street is modeling Deluxe to report 2021 sales of $1.86 billion with $1.96 billion in 2022. Shares of Deluxe have recovered from $18.90 a share to $44.33 in the last year but are down from nearly $80 in 2018.
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Larry Dignan
for Between the Lines
| June 27, 2021 — 22:00 GMT (23:00 BST)
| Topic: Digital Transformation