New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<h2>Pushpay (PPH) Competitor Tithe.ly product update</h2>
<ul>
<li>PPH competitor Tithe.ly released its latest Tithe.ly Next presentation on 14/07/21. Link: <a href="https://get.tithe.ly/next?vgo_ee=oY0YxvxgfISu2TpSgODrjuQHgDOb9W3pig7H63reiPg%3D" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://get.tithe.ly/next?vgo_ee%3DoY0YxvxgfISu2TpSgODrjuQHgDOb9W3pig7H63reiPg%253D&amp;source=gmail&amp;ust=1626481656700000&amp;usg=AFQjCNFixpbOx6qpn9CiU9Fb8RxztHxUww" rel="noopener">https://get.tithe.ly/next?vgo_ee=oY0YxvxgfISu2TpSgODrjuQHgDOb9W3pig7H63reiPg%3D</a></li>
<li>Tithe.ly has significantly improved its data analytics provision – an area we felt Tithe.ly has historically lacked someway behind PPH</li>
<li>Whilst we consider PPH to remain the church data analytics market leader, Tithe.ly’s recent developments highlight that the gap between PPH’s product and the rest of the market is continuing to close</li>
<li>We are impressed by Tithe.ly’s degree of church centric product innovation which we have not seen PPH exhibit to the same degree in recent months</li>
</ul>
Key points of interest
<ul>
<li>New hires: Tithe.ly has now reached 150 FTEs (having recently hired 50 new developers) – with employees now based in Australia, Canada, the US, Europe and Chile</li>
<li>Tithe.ly Pay: Tithe.ly has created a Square type experience (point of sale app) but with a church centric focus. We see this as an attractive offering to a church with a coffee shop, bookshop etc (which most do) allowing the church member to pay through the app for a catalogue of products but with the option for proceeds to go to various fundraising campaigns (such as missions, homeless shelter, local community, schools, kids church etc)</li>
<li>Data: Using church member data, Tithe.ly has improved its product offering to allow a church to see detailed giving insights which include total giving, number of givers, average weekly giving, lapsed giving, new givers. This is something that PPH has offered for a number of years, but we see other providers such as Tithe.ly investing heavily into this space</li>
<li>Media: Tithe.ly allows a church to integrate its church website with social media in a more automated way, allowing non-tech savy church leaders to post more regularly on social media (Facebook/Instagram etc) via a content creation tool. We see this providing greater comfort to churches which are looking to use social media (but many are unfamiliar with content creation) for events, announcements and COVID-19 related posts etc</li>
<li>Pledge: Tithe.ly’s giving module now allows a church to determine how it is tracking towards a fundraising goal and the changing risk profile based on number of givers, average weekly giving, historic giving etc. It also allows a donor to see their own donation history, edit the recurring donation and determine which fundraising campaign the donation is for. Tithe.ly has also improved its tax statement provision. These features are likely to provide customer churches with an improved admin experience.</li>
<li>App: Based around community connection, Tithe.ly has improved its app to be more user friendly around events, announcements, groups and chat</li>
<li>Integrations: Tithe.ly announced its strengthened partnership with Elvanto (Church Management System). Although the integration started 3 years ago, Tithe.ly has now developed the ability for member data to be synced – the key benefit of Elvanto is it’s specialising in registrations. Many churches which are re-opening have set numbers of attendees for a given Sunday given remaining social distancing restraints, and many churches now issue tickets for churches for a set number of people (100 per service for example). Reducing the admin for church leaders, we see this as an attractive integration in the current post COVID-19 environment.</li>
</ul>
Jamie Foulkes&nbsp; Analyst, Equities
<figure class="editor-figure mceNonEditable"><img src="https://mail.google.com/mail/u/0?ui=2&amp;ik=f57c39853c&amp;attid=0.1&amp;permmsgid=msg-f:1705381940898081976&amp;th=17aabbd6f998acb8&amp;view=fimg&amp;sz=s0-l75-ft&amp;attbid=ANGjdJ87mD8KAZZgPOGfyQ4oRVAgYXuIP9UxgzwwzTTYJsIi-4aHUbDtb5WADLWOpsSZQiTuybPEWlAeddctAOcFH1OkcX64FiTaBunLo8ES59DAl2io0BmZkb3lb3c&amp;disp=emb" class="editor-image img-responsive"></figure>
 M: +64 20 4196 2993 |P: +64 4 914 2217 | TF: 0800 367 227&nbsp; Level 22, NTT Tower, 157 Lambton Quay, Wellington

Pushpay (PPH) Competitor Tithe.ly product update

PPH competitor Tithe.ly released its latest Tithe.ly Next presentation on 14/07/21. Link: https://get.tithe.ly/next?vgo_ee=oY0YxvxgfISu2TpSgODrjuQHgDOb9W3pig7H63reiPg%3D
Tithe.ly has significantly improved its data analytics provision – an area we felt Tithe.ly has historically lacked someway behind PPH
Whilst we consider PPH to remain the church data analytics market leader, Tithe.ly’s recent developments highlight that the gap between PPH’s product and the rest of the market is continuing to close
We are impressed by Tithe.ly’s degree of church centric product innovation which we have not seen PPH exhibit to the same degree in recent months

Key points of interest

New hires: Tithe.ly has now reached 150 FTEs (having recently hired 50 new developers) – with employees now based in Australia, Canada, the US, Europe and Chile
Tithe.ly Pay: Tithe.ly has created a Square type experience (point of sale app) but with a church centric focus. We see this as an attractive offering to a church with a coffee shop, bookshop etc (which most do) allowing the church member to pay through the app for a catalogue of products but with the option for proceeds to go to various fundraising campaigns (such as missions, homeless shelter, local community, schools, kids church etc)
Data: Using church member data, Tithe.ly has improved its product offering to allow a church to see detailed giving insights which include total giving, number of givers, average weekly giving, lapsed giving, new givers. This is something that PPH has offered for a number of years, but we see other providers such as Tithe.ly investing heavily into this space
Media: Tithe.ly allows a church to integrate its church website with social media in a more automated way, allowing non-tech savy church leaders to post more regularly on social media (Facebook/Instagram etc) via a content creation tool. We see this providing greater comfort to churches which are looking to use social media (but many are unfamiliar with content creation) for events, announcements and COVID-19 related posts etc
Pledge: Tithe.ly’s giving module now allows a church to determine how it is tracking towards a fundraising goal and the changing risk profile based on number of givers, average weekly giving, historic giving etc. It also allows a donor to see their own donation history, edit the recurring donation and determine which fundraising campaign the donation is for. Tithe.ly has also improved its tax statement provision. These features are likely to provide customer churches with an improved admin experience.
App: Based around community connection, Tithe.ly has improved its app to be more user friendly around events, announcements, groups and chat
Integrations: Tithe.ly announced its strengthened partnership with Elvanto (Church Management System). Although the integration started 3 years ago, Tithe.ly has now developed the ability for member data to be synced – the key benefit of Elvanto is it’s specialising in registrations. Many churches which are re-opening have set numbers of attendees for a given Sunday given remaining social distancing restraints, and many churches now issue tickets for churches for a set number of people (100 per service for example). Reducing the admin for church leaders, we see this as an attractive integration in the current post COVID-19 environment.

Jamie Foulkes&nbsp; Analyst, Equities

 M: +64 20 4196 2993 |P: +64 4 914 2217 | TF: 0800 367 227&nbsp; Level 22, NTT Tower, 157 Lambton Quay, Wellington

Pushpay Holdings

PPH Competitor Update