TotalSoft posts revenues of 22.3 million Euro in 2020 and assigns 5 million euro for investments in innovation in 2021
TotalSoft, one of the most important providers of business information systems in Central and Eastern Europe, has registered in the last two years a trend of constant growth of turnover, in 2020 the cumulated revenues of the company amounting to 22, 3 million euros, EBIDTA of 3.7 million euros and equity of almost 20 million euros.
Projects carried out on foreign markets have a share of 30% of TotalSoft’s turnover, this percentage will increase in 2021 through the international expansion of new solutions such as Charisma HCM and Charisma Warehouse Management. For the current year, the company aims to continue investing in technology, products and innovation for which it has allocated a budget of over 5 million euros. In fact, in the last 3 years alone, TotalSoft has invested approximately 10 million euros in improving, rewriting or adopting new technologies for existing products. Throughout 2020, TotalSoft has consolidated its client portfolio, which currently includes over 1,000 companies. The products and services are used by customers from over 45 countries on 4 continents. Locally, TotalSoft customers employ over 25% of the active workforce in the country, while over 60% of the companies included in the top 100 companies in Romania are TotalSoft customers.
Thus, TotalSoft assumes a strategic role, to support the development and digitalization of the Romanian business. In this sense, the company has shown its support for the Romanian business community by offering a free chatbot solution Timea, which covers 80% of the processes carried out within the HR department.
Equally important was TotalSoft’s support for the medical sector, automating laboratories facing a huge demand for COVID-19 tests using the Charisma Medical Software solution.
Investments in new products and development of existing products
In 2020, Totalsoft continued to invest in its established products – Charisma ERP, Charisma Financial Services, Charisma HCM, Charisma Medical Software – and made an effort to migrate these solutions to the web, using new architectures.
In parallel, the company continued to invest in new products, developed on the Charisma EveryWare digitization platform. This platform is cloud-ready, offers customizable workflows and scalability. The first product completed and available on this platform is Leasing Origination, a credit initiation solution that provides support for decision automation and ensuring a digital experience for customers. In addition, several business services are already available in the cloud and offered in SaaS: ERP, HCM Solutions, chatbot, HR Reporting As a Service, WMS, Boarding & Contract Origination, etc. Totalsoft has also opened its solutions to the software developer community, offering open-source products.
The Charisma EveryWare platform is open to collaboration with applications developed by third-party vendors, in order to fully cover the digitization and automation needs of customers. Currently, the platform integrates with over 20 such applications. New acquisitions and partnerships Acquisitions from the local market also contributed to the development of the company.
Thus, in 2020, ABS Financial Services, part of TotalSoft, took over the business portfolio from Nexia CRG Expert, a member of Nexia International, the ninth largest global network of independent accounting and consulting firms. TotalSoft also invests in the development of a network of partners for the sale and implementation of its business solutions.
Investments in employees and new work model
To achieve all these goals, TotalSoft continued to recruit new talent and adapt its way of working to the current context.
Thus, a major project within the company was TotalSoft Academies – an accelerated career program, in which 60 juniors developed their skills in the areas of consulting and development. In 2020, the number of TotalSoft employees will reach 550.
Throughout 2020, TotalSoft aimed to increase the level of employee autonomy, encourage initiative and increase the company’s agility in the market. This was achieved by implementing a new working model – Team of teams or “a team of teams”. It has a direct impact on customers, by improving their experience with TotalSoft products and services throughout the sales, implementation, post-implementation and development processes.