Siveco Romania, a provider of business software solutions on the Romanian market, has announced significant turnover growth in the first half and stated that it plans to see revenues up 30% in 2004 from 2003.
The company did not provide further concrete details on this year's revenues.
Its 2003 turnover amounted to $19 million, well over 50% higher than in 2002. The market surveys conducted by US' IDC show Siveco became the leader of the Romanian market in enterprise applications suites, accounting for 30.9% of the segment in 2003. IDC estimated the entire market as being worth $28.09 million last year.
"The European integration process and the need to meet the demands of the international market are turning computerisation projects into a priority for every Romanian company," stated Irina Socol, chief executive of Siveco Romania.
The increase in revenues comes from the many projects started in the second half of 2003, which are now in full swing.
These projects include those carried out at Topex, Portile de Fier, Holcim, Anticoroziv etc. Moreover, an important project for the company was that run for the National Health Insurance House (CNAS). Siveco also continued work on some older projects, such as Petrobrazi, for which it teamed up with bodies including, among others, Oracle, the Bucharest City Hall, Aerostar and the National Employment Agency.
One of the most important projects currently in progress is that for Petrom. The project will allow the entire distribution activity of this company to be monitored via the applications installed at its branches, which will send reports to the server at the corporate headquarters. "The most important aspect is the cash flow monitoring in real time," explained Gabriel Lospa, the project manager.
As for the City Hall project, Siveco finalised the implementation of two sub-systems. One of them manages human, financial and material resources, and the other manages documents and work flows.
Siveco plans for a strong expansion of its partner network in Europe this year, enabling it to become a true international player. It has already made moves within Germany, where it is working with a number of partners and has taken on an important contract to develop special software for Hewlett-Packard's German division.
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