Last week System Group held a press conference to reveal its annual report to the public. The company reached the predicted net profit and a 25% increase in capital from its retained earnings.
System Group is one of the oldest IT companies in Iran which was founded in 1988. The team behind this old IT company has managed to expand and develop this company year by year and even went public. In a nutshell, System Group has nearly 1000 employees, over 30k customers in all sizes, 19 regional companies, and 23 licensed distribution partners. Right now System Group is providing software solutions for big enterprises and even small and medium sized businesses.
In this annual report, System Group shed light on last year’s revenue. According to the report, the revenue can be divided into these sections:
- Sales: 380 billion Rial ($11 million ), 21% increased
- Implementation: 155.3 billion Rial ($4.5 million), 39% increased
- Support: 528.5 billion Rial($151 million), 22% increased
- Others: 50.2 billion Rial($14.5 million), 22% increased
Like any IT company, the most of the revenue came from the support department with 48% share of the total revenue, Sales 34%, Implementation 14%, and others revenue sources with 4% shares.
System Group products can be categorized into three major groups mainly based on the size and line of work which are:
Rahkaran solution is a comprehensive ERP system covering all the aspects of medium to large sized business. This solution enables managers to optimize the efficiency of their business operations for maximum profitability. “67% of the revenue from sales comes from Rahkaran products. This year Rahkaran products managed to reach 410 billion Rial in sales which in comparison to last year’s it had 78% increase,” said Mehdi Amiri, CEO of System Group. Rahkaran solutions are helping the customers in many departments such as financial, human capital, procurement, logistics, sales & services and finally BI & analytics. Right now Rahkaran has more than 1000 customers in the country.
Sepidar is designed for small businesses and of course, it’s affordable for small businesses to use. It supports small businesses operations and processes in an integrated environment. Sepidar consists of many modules such as accounting, sales, accounts payable and receivable, inventory and suppliers, payroll and contractor accounting.
The last group is the retailers. They need to speed up their sales, control the cash flow, monitor payments, track the inventory and last but not least have the customer information. Dasht is the software solution for the retailers.
Now that sanctions got lifted, maybe we could see System Group products in the region as well. Since one of the targets for the current Persian year of the company is going global, we can hope that we would see System Group products in the region soon enough. Right now the company is working on their Rahkaran solution to bring the cloud version as well. Since the cloud concept is something new for the old school businesses in Iran, System Group has a tough target to reach this year.