Vulpoi & Toader Management predicts 25 percent hike in turnover to EUR 2.5 mln this year

Independent accountancy Vulpoi & Toader Management (V&TM) estimates a 25 percent gain in business to EUR 2.5 million, as more companies have decided to outsource their accounting departments, in a bid to cut costs during the economic crisis.

The company aims to expand the turnover by 25 to 30 percent next year, sustained by a projected acquisition of a smaller accountancy.

“The current economic environment has determined a growing number of companies to outsource their accounting services, as a more efficient solution to maintaining their in-house accounting departments,” said Marcel Vulpoi, founder of V&TM.

“We have taken advantage of this situation and gained new clients, registering a stable growth of the business during a less favorable period.”

Around 80 percent of the business is determined by the accounting services, adding to fiscal and financial consultancy and accounting revisions. The company employs 75 people and has around 400 clients in various fields including retail, real estate and the oil sector.

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The Romanian accounting market has an estimated value of EUR 250 million. It’s split between the Big 4 companies, large accountancies with a turnover up to EUR 2 million and small firms, including sole traders (PFA).

Ovidiu Posirca