Softline (South African software company)

Softline was founded by Ivan Epstein[1] and Alan Osrin in 1988 during the formative years of the software industry with a mere R1, 500 loan. The two founding members of Softline were soon joined by local entrepreneur Steven Cohen in 1990.

After identifying a gap in the South African market for locally developed, user-friendly accounting software aimed primarily at medium-sized enterprises, Softline developed and launched a range of accounting software products under the name Brilliant Accounting. Within 2 years, Brilliant Accounting became a household name and achieved "Best Seller Status". By 1993, more than 20,000 South African businesses were utilising Brilliant Accounting. The Brilliant Suite of products were expanded to address several vertical markets. A national distribution infrastructure was established by Softline as well as a division to service and support Softline's growing base of Brilliant users. In 1994, Ivan Epstein secured a long-term agreement with Intuit, granting Softline exclusive distribution rights to the Intuit range of products in Southern Africa. This further strengthened Softline's position in the accounting software market.

Softline experienced growth during the 1990s and by 1995 began to actively pursue the implementation of Softline's listing in the Johannesburg Stock Exchange. During this time, Softline's reseller base extended into Africa and the company made the following acquisitions:

In December 1996, Softline Distribution was awarded the Computer Reseller News Channel Champion Accounting software Award 1996.

On 19 February 1997, Softline Limited lists on the Johannesburg Stock Exchange with a market capitalization of R250m (£20m).Later in the year, Softline Limited reported above forecast maiden results for yearend February 1997 and Ivan Epstein selected as a Computer Reseller News Channel Executive 1997 - Top 20 Movers and Shakers in Southern Hemisphere. Softline Limited also completed the following acquisitions in 1997:

In October 1997, the black empowerment group Hosken Consolidated Investments (HCI) acquired 20% interest in Softline. In a back-to-back transaction, Softline acquired 60% of US-based SVI Holdings Inc., for R150 million. This transaction marked Softline's entry into international markets. At this time, SVI had operations based in the US and Australia.

During 1998 Softline made the following acquisitions:

In July 1998, SVI transferred its listing to the American Stock Exchange (AMEX:SVI). Ivan Epstein, as a board member and director, worked closely with the senior executive management of SVI in refining their focus, assessing opportunities, outlining strategies and raising the profile of SVI in the investment community in the USA.

In 1999, Softline Limited went on to make a number of additional acquisitions, including:

In 2003, Softline was delisted from the Johannesburg Stock Exchange to be acquired by The Sage Group plc, one of the leading providers of business management software and services to SME's.

In 1989, Alan Ware and Jeremy Waterman established LA Technology, the distributor for Accpac International throughout sub Saharan Africa. LA Technology was later acquired by Accpac International in 2000 and became known as ACCPAC Africa. In 2004, ACCPAC Africa was acquired by the Sage Group plc and was renamed Softline Accpac.

In May 2010, Softline announced the acquisition of Netcash (Pty) Ltd,[2] a company that provides transaction processing services in three primary areas: electric funds transfer payments, debit order collections and credit card transaction processing. Through the acquisition, Softline was able to provide a solution to SMEs that enabled them to transact in EFT's, debit orders and credit card transactions directly from their back-office accounting and payroll applications.

Softline Accpac[3] is a full service enterprise management software package that can be used across industries.

Pastel Accounting[4] is an accounting software package that is used by over 200 000 companies in 52 countries across the globe.

Pastel Payroll [5] is online payroll software product developed by Softline.

Softline VIP is a Payroll and HR software system for small, medium and large corporations.