The Brazilian unit of European treasury management systems developer SAGE-XRT will launch a light version of its treasury software early 2009 to reach the local small and middle market, SAGE-XRT Brasil general manager Thierry Giraud told BNamericas.
The Brazilian operations currently target companies with yearly revenue starting at 600mn reais (US$330mn) such as Brazilian miner Vale (NYSE: RIO), General Electric (NYSE: GE), Italian carmaker Fiat, the local subsidiary of French supermarket chain Carrefour and Brazilian airline Gol, according to the executive.
"The light version of the treasury offer to local small and middle market will help us drive growth and double local revenue," said Giraud, who was unable to disclose the Brazilian share of global operations or local yearly revenue.
Next year the company is also going to offer its technology in .Net version, which will require less infrastructure and allow more accessibility to clients.
Currently, the software must be installed on the clients systems. However, with the .Net version, all management will be online-enabled, thereby reducing migration costs and making the product easier to adopt.
LATIN AMERICAN OPERATIONS
XRT, a French group, has been present for 10 years in Brazil and has 1,000 clients. The company is focused on software for treasury management, cash flow and financial operations, and was recently acquired by SAGE, a British group which lacked presence in Latin America.
Latin America became the company's new focus due to XRT's presence in the region, according to Giraud.
"SAGE's worldwide focus is in accounting. Therefore, we are studying the possibility of bringing this accounting portfolio offer to the country next year," said the executive.
In its core business, SAGE lists in order of importance, SAP (NYSE: SAP), Oracle (Nasdaq: ORCL) and Microsoft (Nasdaq: MSFT), as its worldwide competitors.
SAGE-XRT manages its Latin American operations through the Brazilian office and works through representatives in Mexico, Guatemala, Puerto Rico, Colombia, Venezuela, Chile, Argentina and Peru. There are no plans so far for opening offices in these countries.
NEW CONTRACTS
SAGE-XRT has incorporated 15 new clients to its portfolio since July.
The local unit recently won a contract to provide services to Brazilian engineering company Odebrecht in 19 countries including the US, Liberia, Libya, United Arab Emirates, Djibouti and Angola and countries in Central and South America.
SAGE-XRT will perform centralized cash flow management in Brazil. However, due to infrastructure problems in other poorer countries such as Angola and Libya, local management will be set up in these countries within two years, according to Giraud.
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