Software spending in Qatar is expected to grow by $255 billion this year owing to an increasing demand on business IT solutions in the country, according a report in the Economic Times.
Experts from Sage Software, a supplier of Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Human Resource Management (HRM) solutions, said they have noticed an increasing demand for ERP-based software solutions and services in Qatar’s mid-market segment.
Sage’s confidence in the ERP segment complements recent reports showing that Qatar’s software spending is expected to increase by 7.6%. The increased spending has prompted business analysts to forecast an expected CAGR of around 10% over the next five years, the report said.
Growth areas include information management applications and other business intelligence software as Qatari companies are seeking more efficiency in both internal collaboration and relationships with international customers and partners.
Sage Middle East Director (Gulf Operations) Reggie Fernandes said Qatar has already started to show signs of recovering from the recent financial downturn which is evident in the huge number of economic activity experienced across various verticals.
“This renewed vibrancy in the market is accompanied with a demand for IT solutions that deliver the best results for businesses. SMEs in Qatar are now investing in ERP and CRM solutions that can be easily integrated with their existing IT infrastructure and can also help address their dynamic needs,” he said.
To help sustain this growth, Sage will be implementing new initiatives like global support service, global partner programme and global certification for consultants and business partners. Even private firms are now investing in key ERP software at times of fiscal leniency. The company’s strategy and investment in Sage ERP X3 has already started to deliver strong results.
In the Middle East alone, Sage currently has more than 5,000 customers and 40 business partners, the report added.