TotalSoft’s Turnover on the Rise by 19%
TotalSoft, a provider of digital business solutions in Central and Eastern Europe, has recorded a 19% increase in turnover in the first quarter of this year compared to the same period in 2023, reaching 8.9 million euros.
At the same time, the company has set a target to increase turnover by 11% in 2024 compared to the previous year, in line with the estimated average market growth for this year. Although the official reserved target is set at 34.5 million euros turnover, the company’s management is confident that an annual growth of 15% can be achieved.
Objective: 100 million euros
Furthermore, TotalSoft will allocate 5 million euros to continue investing in its solutions portfolio to meet the new market demands, as well as in the development of its team and partner network.
Investments for Growth: TotalSoft’s Expansion Plan 2024-2025
For the period 2024-2025, TotalSoft has committed investments that will ensure the company’s growth until 2027, reaching an annual turnover of 100 million euros. This expansion plan has been approved by the company’s shareholders, who have agreed to increase the share capital to 31.4 million euros.
Growth Verticals
In the first quarter of this year, TotalSoft recorded a 19% increase in turnover compared to the same period in 2023. This growth is mainly attributed to the launch of new products and the adoption of emerging technologies, as well as the expansion into new international markets with solutions tailored to the financial-banking industry such as Origination and Client Portal.
As a result, TotalSoft is preparing for significant growth in the coming years, supported by the strategic investments made in recent years and currently underway. In 2024, amidst a global software market expected to grow by approximately 13.8%, TotalSoft will continue to innovate and expand its presence in key sectors.
TotalSoft’s Strategic Investments in 2024
TotalSoft is targeting strategic investments in its products dedicated to the manufacturing, distribution, financial services, and construction sectors, aiming for an 11%-15% increase in its turnover compared to 2023.
Investments in AI and Team Development
In 2023, TotalSoft invested over 5.5 million euros in expanding its product portfolio and allocated another 5 million euros for this year. During the first half of the year, the investment value has already exceeded 2.8 million euros. Over the past three years, the company has made record investments of over 13.5 million euros.
“2023 was a year full of challenges, but it also brought numerous opportunities to improve our products and internal processes,” said Gorkem Tursucu, CEO of TotalSoft. “We have made significant investments in Charisma solutions and continued to support team development.”
The investments in research and development (R&D) have enabled the company to integrate new technologies and enhance its products to meet the evolving needs of its clients.
Emerging Technologies in TotalSoft’s Product Suite
TotalSoft is constantly striving to incorporate emerging technologies into its suite of products and to develop new features and software solutions. An example of this would be the launch of cloud or SaaS versions of several solutions, such as ERP, Financial Solutions, HCM Solutions, Chatbot, WMS, Onboarding & Contract Origination.
Open Solutions and Integrations
TotalSoft has also opened up its solutions to integrations with various applications and technologies in order to provide complete digitalization solutions to its customers. At the same time, investments have been made in the technological infrastructure necessary for migrating to cloud and SaaS solutions that offer flexibility and scalability to customers. This has been complemented by advanced cybersecurity measures implemented to protect TotalSoft’s customers’ data and applications.
Investing in Talent and Growth
To support its growth, in 2024, the company launched two internship programs under the “TotalSoft Bootcamp” umbrella, aimed at recruiting new talents to support the accelerated development of young professionals.
Empowering Female Entrepreneurship in the Digital Solutions Industry
In the realm of digital solutions and software programming, companies like TotalSoft are paving the way for innovation and growth. TotalSoft is not only investing in cutting-edge digital solutions and AI automation, but also expanding its network of local and international partners to reach a target revenue of 100 million euros by 2027.
One advocate for female entrepreneurship is Raluca Grigore from Impact Hub, who champions programs like CAPSULE to support women in business. Through initiatives like these, more women can break into the male-dominated tech industry and thrive in the world of digital innovation.
