Connections ends the year with a 7 million US dollars turnover
Connections, a leader in the digital transformation market in Romania, estimates for the end of 2019 a turnover of approximately 7 million US dollars, up 25% from the previous year.
“For us, 2019 was a construction year, we focused on investments. The key points were achieved: strengthening the intelligent automation division, the expansion plan on international markets (Middle East, Southeast Asia), strengthening partnerships with technology providers and increasing the company’s turnover. 2020 will be a key year for Connections. We will rearrange the way we deliver services, in a more agile and efficient way. We estimate a 9 million US dollars worth turnover, more than 350 employees and a customer structure that will tilt the balance in favor of external markets”, explains Bogdan Florea, founder of Connections and ANIS Vice President.
The most dynamic business lines of the company were represented by software development and support services for the IT infrastructure, the largest investments in technology came from industries such as insurance, banks and utilities, and Connections managed to increase the number of its external customers in 2019 with up to 40%.
“Organic growth in an ever-changing global market brings both strategic and operational challenges. Entering new markets involves challenges related to cultural differences, but also to the speed of absorption of the progress generated by technology companies. Since this year, in some areas, we have started to become technology providers ourselves, which has added an increased degree of complexity. From a customer perspective, 2019 has been a fantastic adaptation year. Further, the challenges of the client companies are in the area of accepting the need to redesign business processes to meet the fourth industrial revolution – Industry 4.0, ”adds Bogdan Florea, founder of Connections.
For 2020 Connections Romania targets complex digital transformation projects, based on new technologies, such as RPA, artificial intelligence and big data, together with the modeling of business processes. At the same time, Connections will continue the technology generation projects in the area of finance and digital transportation.
Connections is a leader on the digital transformation market in Romania, with 300 employees, offices in Bulgaria, Serbia and plans for global expansion. The company specializes in Intelligent Automation, IT Infrastructure Support, Digital Business Process Management and Software Development On Demand. Connections’ clients are global companies and medium-sized Romanian companies from industries such as Banking, FMCG, Oil & Gas, Telecom and Retail. Starting with July 2018, Connections signed a partnership with UiPath, the Enterprise Robotic Process Automation (RPA) platform with the fastest customer adoption worldwide, with which it has already successfully implemented robotic automation processes in key industries. At the same time, Connections has invested over 200,000 euros in the development of a fintech open banking platform meant to integrate the APIs made available by banks in Romania, with the enforcement of the Revised Payment Service Directive (PSD2), which obliges banks to give access to information regarding bank accounts for payments accessible online to third parties who can develop their information services, payments and offer other financial services to the clients of the banks. Connections ended 2018 with a turnover of 6.15 million US dollars.