Bucharest - June, 7th 2023

TotalSoft, one of the leading providers of business information systems in Central and Eastern Europe, has recorded significant sales growth in the first quarter of 2023, following a 26% annual growth in 2022. Compared to the same period last year, organic revenue in the first quarter increased by approx. 23%, driven mainly by the key solutions in the portfolio, namely Charisma Financial Services, Charisma ERP and Charisma HCM. Revenues are mostly from the domestic market, but the company has seen significant growth of approx. 35% in the revenue generated by external business.

The results are in line with the company's expectations, amid a considerable evolution in the need for digital transformation that is now being felt by more and more organisations. This trend has led to an increase in the number of projects carried out for existing customers, involving a number of upgrades and the addition of new features. At the same time, during this period, the company has added to its portfolio new high-profile clients.

"TotalSoft remains dedicated to providing cutting-edge software solutions that help businesses thrive in the digital age. We anticipate continued growth in the coming quarters as we are committed to meeting the evolving needs of our customers," said Gorkem Tursucu, TotalSoft CEO.

The company has seen steady growth across all business divisions, while the best results in the first quarter of this year being achieved by Charisma Financial Services, with growth of approx. 26% compared to the same period in 2022. This growth is due to the successful completion of large projects such as the one at Deutsche Leasing, part of the global IT modernization program - Phönixx, impacting 20 international branches. 

For the second quarter, TotalSoft is focused on maintaining the same pace of organic growth, in line with the company's growth strategy as well as market trends. To this end, the company is counting on the support of a team of 600 specialists, continued investment in core solutions and the development of new ones, and the attraction of quality partnerships.