Ernst and Young Entrepreneur of the Year 2013 Malaysian awards - Cuscapi looks beyond local shores for good growth

KUALA LUMPUR: Cuscapi Bhd is looking towards the Middle East and India as it aims for a 10-fold increase in revenue to RM500 million by 2015. Its revenue for financial year ended Dec 31, 2012 (FY12) came to RM59 million.

“We’re trying to build the company 10 times to what it is today by 2015,” said CEO Her Chor Siong (pic). Cuscapi provides software solutions and tablets which specialise in ordering systems for the food and beverage (F&B) industry.

To achieve its target, the company is eyeing four big markets: Southeast Asia, China, the Middle East and India. It has eight offices in Southeast Asia and China, but has yet to establish a direct presence in the Middle East and India.

“We are looking at building a direct presence in the Middle East and India. Our five-year plan is to have 15 direct offices in Asia by 2015,” said Her, who is a nominee for the Ernst & Young Entrepreneur of the Year 2013 Malaysia awards in the Technology category.

“The spending power outside is much higher than in Malaysia. If you ask me to grow RM500 million in Malaysia, I’ll say no but if you include places such as China or the Middle East, that’s very possible”, he explained.

That, coupled with the need to have a recurring revenue model — which is done through its delivery business where contracts can be renewed — will help the company achieve its financial goal.

Her said Cuscapi has in the last seven years turned from a hardware distributor to a software solutions provider, and is now into managed services.

“For the F&B industry, we provide solutions to quick service and chain restaurants”, he said, adding that the service is designed to either increase revenue, reduce cost or improve customer satisfaction.

He said the company has developed a “very nice” tablet (which is a self-ordering system) and is now in the process of deploying it in restaurants for people to place their orders on their own.