Johannesburg-based open source software as a service company SYNAQ's excellent performance in the interim SA FastGrowth 100 index is a clear indication that open source and software as a service (SaaS) is rapidly moving to mainstream within the South African corporate environment.
So says SYNAQ managing director Yossi Hasson, who points out that in the five years tracked by the index, SYNAQ experienced top line revenue growth of 184%, making it the sixth fastest growing company of those tracked in South Africa by AllWorld Network.
The report described the performance of the list's ranked companies in 2009 in particular as “stunning” in the way it defied “the sluggishness of the global economy”.
“That SYNAQ was included in this grouping is an unambiguous affirmation of the fact that corporate South Africa is wholeheartedly embracing cloud-based services and open source software.
“This trend is being driven by companies seeking alternatives to the exorbitant infrastructure costs, vendor lock-in and software complexity they have been subjected to for so long,” Hasson adds.
The AllWorld “South Africa 34/100 Fast Facts” list – an interim list intended to give early economic indicators of South Africa's entrepreneurial growth potential – was published earlier this month (to view the list go to: http://www.allworldlive.com/south-africa-100/winners/34-100).
The list, which is endorsed by Harvard University Professor Michael E Porter, a leading authority on competitive strategy, is made up of companies that reach AllWorld's international standard for competitive fast growth companies. The rankings are based on sales growth between 2006 and 2009.