Leading fiber broadband provider Converge ICT Solutions, Inc. is seeing a turnaround in its enterprise business, owing to the recovery of small and medium enterprises (SME) in the country as the economy gradually reopens.
In the fourth quarter of 2021, Converge saw a 90% year-on-year revenue growth in its SME segment as its subscriber count almost tripled. In its Q4 / FY 2021 financial and operating results update, Converge reported its subscriber base of SMEs to have grown from 7,000 businesses at year end 2020 to around 22,000 as of year end 2021.
“This steady growth we’ve been seeing in the biggest sector of the business community is promising. It’s reflective of SMEs ongoing recovery amid easing of regulations and we’re glad to be linking up with more and more of them as they adjust to the more connected way of doing business,” said Jesus C. Romero, Chief Operations Officer of Converge.
The Converge Business segment – comprising SMEs, large corporations, government-owned companies and agencies, and the wholesale market – grew by 10.7% year-on-year. Enterprise revenues contributed around 13% to total consolidated revenues.
As part of its efforts to capture more SME customers, Converge launched the FlexiBIZ, a unique, first-in-the-market product catering to the connectivity needs of the sector. FlexiBIZ offers true symmetric high-speed internet that comes in 2 options: Daytime and Peak.
With Converge FlexiBIZ Daytime, small and medium enterprises can experience doubled speeds from from 7:00AM-6:59PM, the peak working hours within a regular business day. With a wide selection of plans to choose from, Converge FlexiBIZ Daytime is highly recommended for businesses with offices that mainly operate during the day.
With Converge FlexiBIZ Peak on the other hand, SMEs are provided with a premium service that offers high speed connections of up to 300Mbps, around the clock. FlexiBIZ Peak is perfect for businesses that need a fast and consistent internet connection, day or night.
For 2022, Converge is seeing at least a 20% revenue growth in the Converge Business segment.
“We project demand from enterprise customers, including small-medium enterprises, to accelerate during the year, with the lowering of mobility restrictions to Alert Level 1. Revenue from enterprise business is expected to grow by 20% YoY in 2022,” added Mr. Romero.