TechnologyAccounting SoftwareSage confident for the future

Sage confident for the future

Accounting software giant, Sage, this morning reported a profit growth of 11% and turnover increase of 14% for year to September 30 2002.

Link: Sage secure in FTSE-100

Paul Harrison, FD of Sage, told AccountancyAge.com that some of the company’s success can be put down to a strategy of moving those customers who are ready up the range of products from entry-level to mid-market.

But he also added that the last technology company in the FTSE 100 Index continues to grow. ‘We’ve continued to add large numbers of new customers – just over 200,000 – which takes our customer levels to three million SME’s worldwide,’ he said.

‘The entry-level, 0-25 employee sector of the market has remained pretty robust this year. But the mid-market is a tougher market.’

Harrison was also quick to play down the impact of Microsoft and SAP, saying that neither had made much of an impression on business. ‘We have not really seen any change on the ground,’ he said.

Telephone-based support continues to prove extremely lucrative for the company, amounting to 46% of its revenue.

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