TotalSoft, a local software and services provider, plans to reach turnover worth 100 million dollars (67.3 million euros) within the next 5 years, after the company expands its regional presence and consolidates its position in Romania.
"It took us ten years to reach an annual turnover worth 6 million euros, and over the last three years we have doubled our business to 12.5 million euros. After extrapolating and assessing market evolution, as well as considering the appetite for investments from our partner, Global Finance, we have set an ambitious target: to reach 100 million dollars by 2013", Liviu Dan Dragan, the company's general manager, told ZF.
In order to achieve this target, Dragan believes that TotalSoft needs to have an active presence not only in Romania, but also in the region, which can be achieved through a series of acquisitions in neighbouring countries that are one step behind Romania in terms of the business software solutions segment (i.e. Bulgaria, Serbia, Moldova, Albania, Greece, and even Italy).
According to Dragan, the ERP solution - Charisma- will also be a growth driver and account for a large portion of the company's revenues.
TotalSoft is already in acquisition talks with two partners in Bulgaria, one being Balkan Services, a company that provides Primavera solutions (project management), and Charisma solutions (ERP-enterprise resource planning).
"We want a partnership for at least one year before the acquisition, in order to become familiar with the evolution of the market and the business," specified Dragan, who explained that Balkan Services is a small-size company (30 employees against over 300 at TotalSoft) with a turnover worth around 1 million euros.
Another local business software company present in Bulgaria is Wizrom, which primarily operates on the SME segment, but is also involved in larg
