The clunky fax machine, which has been around for longer than you might think, is not really dying in South Africa.
Yes some facsimile machine, used to transmit documents over telephone lines, gather dust in offices around the country.
But JSE-listed tech firm Cognition Holdings is still making money from the fax machine, which was created by Scotsman, Alexander Bain in 1842.
Cognition Holdings, formerly known as FoneWorx, is still a big player in the faxing industry.
“The group’s investment in new product offerings, like Channel Incentive Programmes, has successfully created new and exciting revenue streams which have been able to buffer the group from the decline in faxing and also create a solid platform for future revenue growth with new brands adopting this platform,” Cognition said in its latest annual report.
Cognition provides a document exchange service, which incorporate Fax2Email, Email2Fax and new Blockchain service SecurDox.
“As anticipated, faxing continues to decline, primarily from a usage point of view,” the company disclosed in its annual report.
“We still maintain an active database of around 90 000 subscribers however, the average rate per user is declining.”
The number of fax users have been reduced 10 000 compared to 100 000 in 2017.
The company said certain corporates like pharmacies, doctors and bankers still use faxing as a formal communication channel.
“We will still receive a healthy return on faxing which generates around 44 000 faxes per day.”
For more read: FoneWorx: Fax is not dead!