BUSINESS-to-business software provider Sprout Solutions Philippines, Inc. is targeting this year to double the number of clients recorded last year as more companies seek automated solutions.
“We are aiming to double [our clients] year on year. That’s our growth target over the coming years. So, this year, next year, kind of continuing that 100% year-on-year growth,” Sprout Chief Executive Officer and Co-Founder Patrick Gentry told BusinessWorld.
Mr. Gentry said the company’s clients are Filipino companies belonging to various sectors. The service sector accounts for most of them.
“We have 1,000 clients in the Philippines, from startups all the way to the large enterprise customers. Some of the biggest companies in the Philippines use Sprout. Some of the major conglomerates use Sprout,” he said.
“We find a lot of companies coming to us from the BPO (business process outsourcing) sector, from food and beverage, hospitality, finance, and the medical industry. These are some strong industries for Sprout for sure,” he added.
Mr. Gentry said that the company has been profitable since 2021, highlighting that it has geared towards profitability despite the pandemic.
“We have been profitable since 2021 and have been growing very well. We are really happy with the kind of impact we are having on the Philippines these days,” he said.
For the next five years, Mr. Gentry said that more Filipino companies will seek to improve their backend solutions that address end-to-end human resources challenges.
When asked if the company is planning to enter the capital market, Mr. Gentry said that it is an option down the road.
“It’s not something that we are looking at doing today. But an initial public offering is a potential opportunity down the road for Sprout, absolutely,” he said.
Sprout focuses on automating employee lifecycle management and has expanded to become a “software as a service” suite of tools that businesses in the Philippines use to automate business processes. — Justine Irish D. Tabile