Local and globally aligned provider of secure online transaction processing services, Sage Pay, says the industry faces an “interesting period” over the next five to 10 years.
“A new set of entrepreneurs is emerging in South Africa,” says Sage Pay managing director Charles Pittaway. “People are moving online and younger businesses are more inclined to make use of the internet for their business solutions. It is a mindset and reflects what users are comfortable with.”
Pittaway adds that SMME businesses have limited resources for complex systems and seek to have all their business, payroll and accounting systems integrated to conduct their business through multiple platforms. He contends that Cloud computing and connected services have broadened the capability of standalone vertical products and are interacting with other services.
The new set of entrepreneurs seeks Cloud accessibility and Web mobility on the basis of cost effective subscription and ‘pay for what you use services’. “The new generation in business wants mobility, flexibility, time and cost savings. While SMEs tend to accept recommendations via word of mouth (for example, their accountants) they don’t really know how to differentiate between what will and won’t work for them.”
Pittaway sees the Cloud as the way forward, a fundamental shift that will see the Cloud becoming the absolute norm. “It is a natural movement as young entrepreneurs want their lives to be fully automated. There is a five to 10 year adaption gap between the average age of social media users and senior business people, however in the next few years there will be a major shift in that ratio.”