The objective is in line with the estimated average market advance for 2024, of 13.8%
TotalSoft Group comprises the companies Total Soft SA, Architected Business Solutions SRL and Nexia ABS Financial Services SRL. The Group’s consolidated turnover for 2023 stood at EUR31 million. Total Soft SA, the largest company of the group, reported a turnover of RON145 million (EUR29.1 million) for 2023, slightly lower on the year, and a net loss of RON652,000, compared with net profit of RON590,000 in 2022, in line with finance ministry data.
In the first quarter of 2024, TotalSoft Group’s consolidated turnover grew by 19% compared to the same period of 2023, reaching EUR8.9 million, compared with EUR7.5 million in the first quarter of 2023. Consequently, TotalSoft’s management team is hoping to boost the entire business by even 15% in 2024. The Group’s long-term plan for the next five years is to touch the EUR100 million turnover mark.
TotalSoft Group has budgeted investments of EUR5 million for 2024 in its portfolio of solutions, especially the products dedicated to the fields of production, distribution, financial services and constructions, so as to meet the new market demands, as well as in developing its team and the partner network. Of the abovementioned amount, the value of investments in the first half of 2024 has already exceeded EUR2.8 million.
In 2023, TotalSoft invested over EUR5.5 million in developing its product portfolio and overall, in the last three years, the company has carried out investments worth over EUR13.5 million.