March 16 (SeeNews) - Romanian software developer TotalSoft said on Thursday that its turnover rose by 26% year-on-year in 2022 to over 31 million euro ($22.34 million), bolstered by investments and the development of a partnership programme.
TotalSoft’s investments in product development grew by an annual 13% last year to approximately 5 million euro, the company said in a press release.
The company’s investments coupled with its focus on attracting new partners led to increased recurring revenues that accounted for about 60% of the turnover in 2022.
"We are growing year after year, and this drives us to continue the path of integrating new technologies in existing products, investing in developing new solutions, attracting quality partnerships and new talent that resonates with our company's values," Gorkem Tursucu, TotalSoft CEO, said.
The company achieved steady growth across all business divisions, with its Charisma Financial Services, Charisma HCM and Charisma ERP products recording the most significant increases. The company’s flagship solution, Charisma Financial Services, expanded on external markets and grew substantially compared to 2021, driven by the development of new projects for external clients and the implementation of legislative-related reporting solutions. Projects carried out especially in the areas of manufacturing, distribution, services and construction spearheaded the growth of TotalSoft’s Charisma ERP and HCM solutions.
Founded in 1994, TotalSoft is a provider of business information systems supporting enterprise resource planning, human capital management, healthcare and business intelligence. The company tallies projects in over 40 countries across four continents.