TotalSoft's head of strategy: We won't get to 50m euros unless we tap into new business segments

TotalSoft, one of the leading players on the Romanian software and IT services market, will develop new products and tap into new business segments - such as applications dedicated to end users, in order to be able to speed up its revenue growth rate, Daniel Ionescu, the company's strategy manager told ZF in an interview. The software producer's plans include developing applications for end users for tablets and mobile phones based on Apple and Google platforms, launching accessible solutions for small retail companies and selling software applications modules to other suppliers of applications.
The company needs to take this step considering that the forecasts for the market of ERP (Enterprise Resource Planning) software or of project management software for companies in the coming years cannot ensure a significant revenue increase. "If we intend to see TotalSoft's turnover at 50 or above 50 million euros, we clearly have to look at other business models, as well, or at other market niches," Ionescu says.
The company posted 22.5 million euros in revenues and a 3.5 million-euro operating profit last year. For this year it plans to make 25 million-euro revenues, up by around 15%, the same as the growth rate planned in 2010.