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KUALA LUMPUR - Sagtec Global Limited (NASDAQ: SAGT), a provider of customizable software solutions with a market capitalization of $26.48 million, has announced the operational launch of its Speed+ Smart Cloud Ordering Software in Indonesia. The first batch of licenses has been delivered to the country’s sole distributor, signaling the start of the company’s expansion in Southeast Asia. According to InvestingPro data, the company maintains a healthy financial position with a "GOOD" overall health score.
The Speed+ system is a cloud-based ordering solution aimed at transforming the way food and retail businesses manage their operations. It offers features such as real-time order tracking, digital menus, integrated payment systems, and performance analytics. Designed to cater to restaurants, cafés, and retail chains, the software supports multi-device connectivity and can be tailored to various operational sizes.
Kevin Ng, Sagtec’s Chairman, Executive Director, and CEO, expressed confidence in the product’s alignment with the company’s regional strategy and its potential to meet the growing demand for digitalization in Asia. He emphasized Sagtec’s commitment to providing solutions that enhance business agility, competitiveness, and efficiency.
The deployment in Indonesia comes at a time when the country’s digital economy is expected to swell to US$60 billion by 2030. Additionally, the cloud-based POS market in the region is experiencing a nearly 20% annual growth rate. This expansion aligns with Sagtec’s impressive growth trajectory, with InvestingPro forecasting a 75% revenue growth for FY2024. The company currently generates annual revenue of $8.87 million, and this initial shipment is part of Sagtec’s strategy to establish a foundation for long-term growth and adoption of its software solutions.
Sagtec plans to continue refining its support infrastructure and expanding its market reach to encourage further deployments. The company, which also offers software development, data management, and social media management services, primarily serves the Food & Beverage sector but caters to a variety of industries, including those involving Key Opinion Leaders (KOLs).
This development is based on a press release statement from Sagtec Global Limited.
In other recent news, Sagtec Global Limited has announced the launch of an AI-powered chatbot service for the food and beverage industry in Malaysia. This service is integrated with Sagtec’s existing platforms to enhance customer interactions and streamline operations for businesses in the sector. The company plans to begin onboarding select partners in May 2025, with a broader rollout later in the year, and aims to expand the service to Indonesia, Singapore, and Thailand. Additionally, Sagtec has entered the Indonesian market through a Master Dealership Agreement with PT Kiwari Asih Solusi for its Speed+ Cloud-Based Smart Ordering System. This agreement is expected to generate at least $30 million in revenue over the next five years from the sale of 10,000 licenses. The partnership aligns with Indonesia’s growing digital economy, which is projected to reach $60 billion by 2030. Sagtec’s CEO, Kevin Ng, expressed enthusiasm for both the AI chatbot initiative and the expansion into Indonesia, citing the importance of meeting evolving customer expectations and the growth potential in the region. These developments highlight Sagtec’s strategic focus on leveraging digital solutions to enhance operational efficiency in the Southeast Asian market.
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