German software maker enters Nigeria’s N960bn market
Software AG, a German software maker with revenues of €1 billion, weekend declared its entry into Nigeria’s N960 billion software market. The company said it is raising its stakes in the West Africa market with Nigeria becoming a strategic hub to serve other countries in the region.
The €25.2 billion company said it was engaged in a strategic partnership with Northern Spark, an Information Technology (IT) company in the country to deliver best-in-class software solutions that improve business productivity and efficiency. Speaking at a seminar entitled: ‘Achieving Business Excellence with AG’s Enterprise software’, Barry De Waal, vice president, Africa region of the company, said its entry into the Nigerian software market represents a unique opportunity for Software AG to deepen its presence in Africa.
He said Software AG was committed to expanding the scope of Nigeria’s software market, further adding, “We have made a conscious decision that has been approved by the board to grow the market, deepen our presence and drive the business forward.” Waal said the firm’s strategy to catch up with competition was simply to develop local support and capacity. “This is very critical for us going forward. It is one of the things Software AG and Northern Spark agreed on from the beginning. Our goal is to take over the whole of West Africa and we are starting with Nigeria which is the largest market here.” Speaking in the same vein, Bob Anderson, general manager, Northern Spark, said both firms were very keen on building and driving local content development in Nigeria through technology transfer.
“This is the reason why Software AG chose us. We pride ourselves with contributing to local content development. We like to have technology transferred back to us and supported right from the Original Equipment manufacturer (OEM). Northern Spark has become Software AG in West Africa with the footprint here in Nigeria. We want to bring in the technology to further grow the economy”. The software company said it intend to play a fundamental role in Central Bank of Nigeria’s (CBN) ‘Cashless Nigeria Project’. He added that Nigeria’s conscious migration to a cashless environment will throw up significant challenges for banks due the high volumes of online transactions. Software AG, according to Waal offers enabling technologies that can scale from a low range to a high transaction volume range.
“We are not confined to finance. Let’s look at the oil and gas industry, specifically pipeline management. There is huge amount of data coming out. Businesses can go into big data and extract information very rapidly and efficiently. The telecoms industry, what is the state of the network across the country? With the amount of data coming through, you need high speed availability to figure what is going on and make better decision that can improve the business. It is just as applicable to finance as it is to telecoms and oil and gas industry”, Anderson added. In his paper presentation at the seminar, Chris Ogbechie of the Lagos Business School (LBS) urged Nigerian businesses to adopt good corporate governance structures. He said good corporate governance currently influences foreign investment decisions.
Founded in 1969 in Darmstadt, Germany, Software AG is the global leader in Business Process Excellence. The software company’s more than 40 years of innovation include the invention of the first high-performance transactional database, Adabas; the first business process analysis platform, ARIS; the first B2B (Business-to-Business) server and SOA-based integration platform, webMethods; and pioneering big data technology with Terracotta’s BigMemory. The firm has pledged to offer customers a variety of end-to-end solutions that deliver low total cost of ownership and high ease of use. It has more than 5,500 employees serving enterprise and public institution customers across 70 countries.