TotalSoft, one of the largest providers of business information systems in Central and Eastern Europe, has recorded a steady growth trend in turnover in the last two years, with the company's cumulative revenues rising to 22,3 million euros in 2020, EBIDTA of 3.7 million euros and equity of almost 20 million euros. Foreign market projects have a share of 30% of TotalSoft's turnover, this percentage being expected to grow in 2021, due to the international expansion of new solutions such as Charisma HCM and Charisma Warehouse Management.

For the current year, the company aims to continue investments in technology, products and innovation, for which it has allocated a budget of over 5 million euros. Thus, only in the last 3 years, TotalSoft has invested approximately 10 million euros in improving, rewriting or adopting new technologies for existing products. 

Throughout 2020, TotalSoft has consolidated its client portfolio, which currently includes over 1,000 companies. The products and services are used by customers from over 45 countries on 4 continents. Locally, TotalSoft customers has over 25% of the active workforce in the country, while over 60% of the companies included in the top 100 companies in Romania are TotalSoft customers.

Thus, TotalSoft assumes a strategic role - to support the development and digitalization of the Romanian business. In this regard, the company has shown its support for the Romanian business community by offering a free chatbot solution - Timea - which covers 80% of the processes carried out within the HR department. Equally important was TotalSoft's support for the medical sector, automating laboratories facing a huge demand for COVID-19 tests with Charisma Medical Software solution.

In 2021, TotalSoft aims to expand its strategic role to the public sector, planning to support it in its digitization efforts. Thus, the company is in the process of building a team dedicated to address the specific requirements of this sector.

Investments in new products and development of existing products

In 2020, Totalsoft continued to invest in its established products - Charisma ERP, Charisma Financial Services, Charisma HCM, Charisma Medical Software - and made an effort to migrate these solutions to the web, using new architectures.

In parallel, the company continued to invest in new products, developed on the Charisma EveryWare digitization platform. This platform is cloud-ready, offers customizable workflows and scalability. The first product completed and available on this platform is Leasing Origination, a credit initiation solution that provides support for decision automation and ensuring a digital experience for customers.

In addition, several business services are already available in the cloud and offered in SaaS: ERP, HCM Solutions, chatbot, HR Reporting As a Service, WMS, Boarding & Contract Origination, etc.

Totalsoft has also opened its solutions to the software developer community, offering open-source products. The Charisma EveryWare platform is open to collaboration with applications developed by third-party vendors, to fully cover the digitization and automation needs of customers. Currently, the platform integrates with over 20 such applications.

New acquisitions and partnerships

Acquisitions from the local market also contributed to the development of the company. Thus, in 2020, ABS Financial Services, part of TotalSoft, took over the business portfolio from Nexia CRG Expert, a member of Nexia International, the ninth largest global network of independent accounting and consulting firms.

TotalSoft also invests in the development of a network of partners for the sale and implementation of its business solutions.

Investments in employees and new work model

To achieve all these goals, TotalSoft continued to recruit new talent and adapt its way of working to the current context. Thus, a major project within the company was TotalSoft Academies - an accelerated career program, in which 60 juniors developed their skills in the areas of consulting and development. In 2020, the number of TotalSoft employees reached 550.

Throughout 2020, TotalSoft aimed to increase the level of employee autonomy, encourage initiative and increase the company's agility in the market. This was achieved by implementing a new working model – „a team of teams". This has a direct impact on customers, by improving their experience with TotalSoft products and services throughout the sales, implementation, post-implementation and development processes.