JSE-listed Spescom says other than a few delivery delays, the 11 September attacks have had no major impact on its business, and has suggested that the catastrophe may have been used by some companies to excuse their poor performance.
"Uncertainty is the main problem at present and this is leading to delays in order placement for many companies. Recent events have impacted on world trade but it should be remembered that a global economic slowdown was being forecast as early as mid-2000," says Tony Farah, executive chairman of Spescom.
Farah says the slowdown should be viewed as an opportunity for companies such as Spescom, which specialise in the information and communication fields, and says the firm remains bullish about the future.
"It is impossible to foresee whether the economic ramifications of these acts of terrorism will be transient or longer term. However, economists are already predicting that factors like lower oil prices and easier monetary policies will spark a US recovery that will reverberate globally," says Farah.
International director Simon Blagden has relocated to SA as part of Spescom's move to drive its globalisation plans from its local office.
"2000 was a difficult year for us, but our management positioned the company in anticipation of the slowdown and this year we are seeing the benefits," says Blagden.
"Other than one or two customers who have asked for delays in the delivery of their products, our sales pipeline still looks very strong. I think far too many companies have jumped on the bandwagon by blaming the US attacks for their inability to cope in a slower market."
Spescom competes head on with bellwether IT company Dimension Data, and Blagden says Spescom has tried to differentiate itself by focusing on customer care.
"We are not into quick sales. We form relationships with our clients offering integration and backup. Clients must feel like they are supported from start to finish," he says.
Spescom is continuing with its plans to offer its services globally, giving it strong international revenues with development and administration costs in rands.
Blagden says the software developed in SA is being merged with the existing software in the US, and management has transferred some of Spescom's local software engineers to the US, where Blagden says they have developed an impressive configuration management platform.
As Spescom is currently in a closed period, with its year-end results expected on 20 November, Blagden was unable to comment on figures. However, the news of the company's management optimism saw the Spescom share price climb from 170c to 200c on intraday trade yesterday, before closing at 190c.
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