Software: The key to a smart and prosperous future

A look at investors as South Africa are able to benefit from it.

"We are witnessing a structural change in the IT market – customers are shifting more of their investments into the software and still become a large and important component of the stack of technology in general. As a result, we are seeing strong demand from our customers. "- Jim Hagemann Snabe-, Co-CEO of SAP, July 2011

Companies that help other businesses work smarter, more efficient and therefore more money should do well in any economic environment, and the software is generally used to perform this function.

In my opinion this is a key issue at present conducting the business of B2B technology and business * information to properly position are benefiting directly as a result. Judging from their ¹ st half results released this week, SAP AG, a provider of € 54bn of enterprise software that helps companies run more efficiently, is a company of such. SAP, which was founded in 1972 by five former IBM employees, ^half of software reported a sales growth of 26% (31% in constant currency in the back of strong growth in all regions and industries.

In the corner of PSG today, however, I will not discuss the German software giant, but rather to refer to how South African investors are able to benefit from the aforementioned issues.

As many of you know, no major companies listed on the JSE IT sector to develop its own world-class software and services. In simple terms, most investment firms to operate in space are local IT resellers / integrators, software and hardware or service, or both. As a natural consequence budgets, research and development of South African players are small compared with multinational companies like Microsoft and SAP. As a matter of interest, Microsoft and SAP spent $ 8.7bn and € 1.73bn in the DR in its last financial year, respectively.

Of particular interest to us, however, is the fact that one is able to benefit from the billions spent by RD foreign companies investing in IT companies listed on the local bourse. One such company we have enjoyed for some time, JSE-listed EOH (Enterprise Outsource Holdings. The company derives 78% revenue and 87% of profits before tax of software and services in the medium ¹ of fiscal year 2011. Its particular attraction is its decentralized solid business model, allowing the company to be agile and its business units to become specialists in their respective fields, while an incentive mechanism in place that drives the group's overall performance. The partners of the company or represents, many exclusively, a multitude of international software companies. Among others, EOH operates one of the largest SAP practice in South Africa, which according to my last correspondence management consists of 8 basic units. EOH, now worth R2. 1bn, has built an enviable track record since its listing in 1998, but due to considerations of size has only recently appeared on the radar screen of the largest fund managers. As shown in the chart, Company registration tracking gains in growth can not be faulted.

In conclusion, in my opinion, the underlying theme of global leadership in IT investment also applies to our country – public and private sectors, SA are in dire need to work faster and smarter – and the corresponding growth as experienced by SAP AG presents a rosy picture for some South African players.

* Business to Business

* The angle is an electronic newsletter PSG PSG Asset Management (Pty Ltd. To subscribe or to read more, visit www.psgam.co.za

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