Data Torque establishes beachhead in Africa

Data Torque establishes beachhead in Africa

9 February 2012

Wellington based Software Company Data Torque has completed the design and project planning to implement their Revenue Management System (RMS) for the Swaziland Revenue Authority. The first stage is due to go live at the end of February.

“We signed the multi-million dollar contract with the Swaziland Revenue Authority late last year,” said Bill Chatwin, Managing Director of Data Torque. “We went up against several international vendors in the competitive tender to win our first assignment in Africa.

“Data Torque’s Revenue Management System (RMS) is a proven off the shelf product that we are configuring for the Swaziland Revenue Authority. This project will be the primary system to collect all of the government’s inland tax revenue and is playing a key role in supporting their introduction of a new Value Added Tax on 1st April 2012.

“RMS has been refined from our work delivering and supporting systems in the Pacific region since the late 1990s and we’ll bring this experience to bear for Swaziland.

“This contract win represents an exciting beachhead for Data Torque and we’re on track to achieving our aggressive revenue and profitability targets. It is the first step in our expansion into Africa, and we have recently been shortlisted in another tender, and commenced discussions with several other nations on the continent,” said Chatwin.

“It’s a great success for NZ Inc in that the NZ Export Credit Office and the BNZ assisted us by guaranteeing a performance bond for the project (1). This helps support our growth without placing demands on our working capital. NZECO were supportive of our application and turned it around very quickly. We have also been working with New Zealand Trade and Enterprise (NZTE) on our growth strategy so it’s nice to see multiple entities working together to support New Zealand business” said Chatwin.

Carmen Moana, Manager of the NZECO, said, “It is common for performance bonds to be required by foreign government agencies, and New Zealand SME exporters often lack the additional collateral to support these bonds. We are delighted to be underwriting Data Torque’s first African contract and hope this is a stepping stone for further exports into this region.”

The Kingdom of Swaziland is a landlocked country bordered by South Africa and Mozambique, with a population of about 1.2 million. The main income of the country is derived from the sugar industry, which is the major foreign exchange earner. The Swaziland Revenue Authority is a semi-autonomous corporate body operating outside of the civil service but within the broad framework of Government. The Authority was established in 2008, and is charged with the responsibility for collecting revenue on behalf of the Government of Swaziland.

The introduction of RMS is a key aspect of the Authority’s work to increase revenue while minimising costs as a percentage of collections.

Data Torque’s Revenue Management System will enable the Authority to meet the annual National Budget revenue collection targets, so that revenue can be invested in public services, infrastructure and development programmes.

“Data Torque will implement the RMS in multiple phases, starting with VAT by April 2012, followed by PAYE and Income Tax,” Chatwin said. “There will be consecutive deliveries over the next two years, and we will provide System Maintenance and Support Services for an initial term of five years.”

“Much of the expected population growth in the next century is expected to come from Africa,” said Chatwin. “This is a growth opportunity for New Zealand business, and it’s great to see Government support for technology-led companies expanding into the developing world. There are exciting opportunities to develop high value jobs, and take what New Zealand does best to these countries.

(1) NZECO, New Zealand’s export credit agency, provides financial guarantee products for New Zealand exporters. NZECO’s products help exporters manage risk and capitalise on trade opportunities around the globe. www.nzeco.govt.nz/products

Data Torque

Data Torque is a Microsoft certified IT vendor based in Wellington, New Zealand and founded in 1994. It services clients globally and generates over 60% of its revenue from exports.

RMS is a comprehensive and functionally complete solution that assists governments to secure their borders whilst growing their tax and revenue base. RMS encompasses customs, tax and transport in a fully integrated manner.

Data Torque has a successful track record in delivering RMS solutions for its clients in developing countries since the first iteration was installed in the late 1990s.

www.datatorque.com

ENDS

© Scoop Media

