Philippine growth spurs cloud firm’s expansion drive

Cloud enterprise resource planning provider Acumatica is accelerating its expansion in the Philippines, its largest market in Asia, with plans to double local revenue by 2028.

“The Philippines is the largest market in Asia for us so far. We make most of our revenue from the Philippines,” Thorsten Leppek, Acumatica’s Director for the Asia Region, said on Wednesday. “The Philippines represents one of the strongest growth opportunities for Acumatica in the region.”

Acumatica currently serves about 100 customers in the country and sees strong potential for further growth as businesses continue investing in digital transformation.

The company posted 30 percent revenue growth across Asia last year and is aiming for a similar pace this year.

Acumatica is also expanding beyond its traditional mid-market customer base and increasingly targeting larger companies and conglomerates.

“We are more and more going into enterprises. We speak more and more with conglomerates,” Leppek said.

Its focus sectors in the country include construction, manufacturing, distribution, retail, and professional services.

The company’s expansion comes as Philippine businesses increase spending on cloud and artificial intelligence technologies to improve efficiency and support growth.

The Asian Development Bank projects Philippine economic growth of 5.8 percent to 6.0 percent in 2025.