Softline Pastel aims for 15% growth in 2012
Steven Cohen, MD of accounting software provider, Softline Pastel Accounting, says the group is aiming for 15% turnover growth in 2012.
“If we could grow turnover by 15% I would be very satisfied,” he said in an interview with BusinessTech. “Our operating margin is about 25%,” he said.
The company head says the group is targeting the online space. “Pastel’s online products which will change the way people work – really! This isn’t hype; we’re developing technology that will make a compelling difference to how businesses operate.
“In 2010 we launched SA’s first online accounting package, My Business Online, which really offered a completely new way for SMEs to do their books. It’s already available as an app for iPhones and iPads but this year we’re looking to incorporate Android for all of our online products.”
Cohen says he is excited about the growth of mobile technology and cloud computing in general and particularly the increasing use of mobile devices to access the internet in Africa.
He noted that a recent report by the United Nations Conference on Trade and Development, confirms mobile devices as the main ICT tool used by SMEs to do business in low-income countries. “This opens up huge business opportunities for us across the continent as demand for online business solutions looks set to grow,” he said.
According to Cohen, mobile/web technologies will drive the sector in the near-to-mid future. “Improvements in local connectivity rates and availability of bandwidth will further open up these opportunities.”
The chief executive says that his company currently accounts for around 80% of the market. The Pastel brand employs around 630 people across the country.
Looking ahead, Cohen doesn’t see a disruptive technology in 2012. “I think people are just starting to get their heads around the innovation of cloud computing and connected services. Depending on the uptake of cloud I think the main disruption will be towards the end of 2013 when this new technology becomes main-stream.”
He cautions, however, that there are still many people who are unsure of new cloud technologies; “this trepidation could hold us back,” he said.
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