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TotalSoft opens branch in Bulgaria with 300,000 euroUpdated: 15-04-2010 | Business
Total Soft, the regional producer of business software, with businesses of 20 million euro in 2009, is opening a 300,000 euro investments in a branch in Bulgaria, company officials announce.
The opening of the Sofia office is part of the strategy of international expansion which Total Soft, a part of the investment fund Global Finance announced last year and will be soon followed by a similar action in Greece.
The investment will be 300,000 euro until the end of the year, a figure to be recovered with the new contracts concluded in 2010. Until the end of the year the team will include 5 new persons. The Bulgarian branch will have commercial and implementation attributions but initially implementation, consulting and technical support services will be ensured by the Bucharest management by a team specialized in implementations in that market. Once the number of projects will grow, TotalSoft Bulgaria will take over all these attributions.
In a few years want the business figure coming from projects in foreign markets to grow from 30% at present to 50% at least. Our strategy is based on the opening of offices in countries in which we already have solid references and in which knowing the business environment means gaining new projects, said Liviu Dragan the general manager of TotalSoft.
The new office will focus on the implementation and sales of the integrated system Charisma enterprise in the sector of financial services in retail and distribution.TotalSoft will address the Bulgarian market with products like Charisma Analyzer (business intelligence), Charisma Collection (automation of debit collection processes from clients), Charisma Medical Software (solutions for hospitals, clinics and pharmacies).
The operations will be backed by finding solutions, technical support and the website in Bulgarian as well as a series of events devoted to target activity sectors.Until the end of the year the company has in view to launch other branches in Greece. In the following years, the management wants to open offices in Germany, England, Hungary, Slovakia, Ukraine, Russia and Poland.Foreign markets will have to reach from 30% of last years business to 50% until 2013. Liviu Dragan says that since September to 2014 the company will obtain a business of 70 million euro.In 2009 the company had a business figure of 20 million euro with a profit of 25%.
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