Innobyte: VTEX projects generated 10% of revenue in 2022

Innobyte, one of the most important Romanian e-commerce software development companies, announces that the new line of business based on the global digital commerce platform VTEX generated revenues of approximately 1 million lei in 2022, respectively 10% of the turnover for the whole year. The two companies concluded a partnership last summer through which Innobyte will develop applications and implement VTEX solutions for customers in Romania. Also, the Romanian company recorded in Q4 2022 the best quarter in history in terms of revenues.

The new VTEX line of business has a strategic role in the development of Innobyte, the company starting in recent months several large-scale projects for the development of digital platforms using VTEX solutions for customers in Romania.

“2022 was a year in which we focused on developing a new line of business and expanding capabilities by starting the strategic partnership with the global VTEX platform. Thus, we currently offer solutions to a wider portfolio of online stores from various industries and fields. One of the challenges of this direction was attracting specialists and training them to implement VTEX projects. The positive effects did not take long to appear, the new business line represented approximately 10% of last year’s turnover. We aim to be a relevant partner with direct impact in the e-commerce strategy of VTEX platform customers”, said Cătălin Bordei, Managing Director Innobyte.

In order to be able to support the new projects, the company runs tech specialization programs to expand its team of specialists for medium and long term, and to fill the skill gap in the local labor market. Innobyte started 2023 with 43 e-commerce tech specialists and plans to grow the team by over 20% by the end of the year. The company currently has open positions for mid and senior developers familiar with Node.js, Typescript, React.js, Magento technologies and QA specialists.

The new strategy based on VTEX generated in 2022 the best Q4 in the history of Innobyte

One of the main challenges faced by Innobyte in 2022 was to maintain the company’s financial performance in relation to investments in the new VTEX line of business. The internal strategy began to show the first signs of success, so that in 2022 Innobyte recorded the best Q4 in the company’s history, i.e. revenues approx. 15% higher than the last quarter of the previous year, approx. 3.5 million lei.

Innobyte’s business model involves the provision of software development services for large clients and the development of complex projects that span for extended periods of time. The company works with a relatively small number of active clients, but with considerable e-commerce budgets. The number of new customers increased in 2022 by 20%, and the portfolio follows an growing trend from year to year.

“We add 2-3 new projects every year so that we can generate added value for our partners and grow together. In 2022 we followed the same growth trend and managed to add also new industries such as retail and DIY, industries that generate interesting growth during this period. For 2023 we are still aiming to attract new customers and booming industries. We are also confident in our partnership and collaboration with some of the most important e-commerce platforms in the world, VTEX and Magento”, mentioned Cătălin Bordei.

Innobyte is partners with the biggest e-commerce events in Romania in 2023

Innobyte’s role is to provide clients with best practices and technologies to optimize and grow their online businesses. In this sense, the company participates as a partner in two of the most relevant events in the field of e-commerce in Europe: EDC (European Digital Commerce – Retail Summit) and Meet Magento, which will take place in May of this year.

Innobyte is the Main Partner in EDC 2023, a landmark event for the entire retail industry in the region and will have two experienced speakers, Cătălin Bordei – Managing Partner and Alin Alexandru – CTO Innobyte, who will present the latest news and trends in security, performance, scalability and integration of e-commerce solutions. Innobyte will share the experience gained in complex projects developed for clients from various industries and countries.

Meet Magento is an event dedicated to the entire Magento community in Romania and the meeting place for e-commerce representatives, brands and developers. Innobyte is a Silver Sponsor of the 2023 edition. Participation in Meet Magento is already a tradition for Innobyte, the company being among the first supporters of the conference and the local e-commerce community since the first edition in 2014.

By participating in these events, Innobyte assumes an active role in the Romanian e-commerce industry and manages to always be up to date with the latest solutions and challenges in the field.

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