Initiating Coverage on No-Moat Macquarie Technology

Customer service is Macquarie Technology’s main focus across all its three divisions of telecom, cloud services and government, and data centers. Management considers its long track record of peer-leading net promoter score as a key differentiator. On this metric, the group has improved to 86 in fiscal 2024 from 56 in fiscal 2015, compared with the benchmark range of 50-60. Macquarie Technology achieves this by maintaining local call centers, providing prompt resolution of issues, delivering proactive solutions to serve customer needs and careful targeting of customers (not too big and demanding, not too small justify the servicing).