TotalSoft opens office in Bulgaria

TotalSoft, the regional business software producer which is part of the Global Finance group, has opened an office in Sofia. This was one of the objectives in the company’s international strategy announced last year.

The investment in opening and supporting the new office will amount to EUR 300,000, a sum which Totalsoft aims to recover through new contracts signed by the end of 2010. “In a few years, we want the turnover from projects developed on external markets to increase from 30 percent, as it is now, to at least 50 percent,” said Liviu Dragan, general manager of TotalSoft. “Our strategy is based mainly on opening offices in countries where we already have solid references, and where our knowledge of the business medium represents an advantage in gaining new projects,” said Dragan. The market in Bulgaria is home to a series of companies such as Raiffeisen Leasing, Scania Leasing, Balkan Star, NLB Leasing, Kronos and Deutsche Leasing which already use the TotalSoft product Charisma Enterprise.

The new office in Sofia has five employees. By the end of the year, it will focus on selling and implementing the integrated Charisma Enterprise system, especially in the financial, retail and distribution sectors. TotalSoft Bulgaria will also hit the market in this country with products such as Charisma Analyzer (for business intelligence), Charisma Collection (a debt-collection system) and Charisma Medical Software (solutions for the medical sector). Initially, the services of implementation, consultancy and technical support will be provided by the Bucharest HQ through a specialized team. However, with the increase in the number of projects, TotalSoft

Bulgaria will take over these duties entirely.

On the medium term, TotalSoft aims to open offices in six other European countries. The company has announced it will next open a base in Greece.

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TotalSoft posted a turnover of nearly EUR 20 million at the end of 2009, a 40 percent increase on the 2008 figure. Its EBITDA, which also rose 40 percent from the previous year, was EUR 5 million. Some 70 percent of the revenues come from local sales while the remaining 30 percent represent exports.

Otilia Haraga