An old proverb says that nobody is a prophet in his own land. Well, TotalSoft seems to contradict the saying as it represents a Romanian company whose revenue is primarily made up by local customers. Indeed, the score is relatively tight, with 60% of the earnings coming from the Romanian market, while the remaining 40% coming from international customers. Still, contracts from abroad are growing, especially in Europe. As pointed Hans Kort, international sales director of the company, "we cover almost all European countries except Scandinavia; and we are now expanding into the United States as well".
In fact, geographically speaking the company has contracts in no less than 50 countries, most of them related to Charisma, the main product of the company. This is a ERP (enterprise resource planning) software solution which the company developed, but its use pertains to a multitude of processes such as: payroll and personnel administration, management of medical activities, eBusiness applications as well as cash flow management; this latest product offering has propelled the company onto the leasing segment as well, where TotalSoft proposes a variation of Charisma, specifically adapted for integrated business management.
The company’s success seems all the more impressive when realizing that TotalSoft was founded in 1994 and only had five employees at the time, building its success gradually with the help of Romanian customers. Fast forward 20 years and the company has now reached 470 employees, opened offices in Bulgaria, Greece, Serbia and Qatar, as well as a subsidiary in Austria, while its turnover is currently above EUR 20 million. Also, in terms of clients, the company's customers are no longer small private companies from Romania, but the more famous Raiffeisen BMW Financial, Volvo, Mercedes, BNP Paribas or Deutsche Leasing.
Indeed, the company's growth was also facilitated by foreign investment, with around 80% of TotalSoft’s stake being currently owned by foreign players, but nevertheless, the management and the company's headquarters have always remained at home, while the company’s activity also remains guided by the same principles. After all, it was the Romanian way the brought the firm to success and this way of doing things seems increasingly popular and increasingly recognized abroad. Thus, one could say that TotalSoft did act as a prophet and helped convince European investors that Romanian know-how does not only produce results, but also money.
Sources:
http://www.digi24.ro/stiri/economie/companii/totalsoft-inteligenta-romaneasca-pentru-afaceri-688591
Claudiu Bolcu
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