The quality of SIVECO Romania’s solutions and services is acknowledged by the market | SIVECO Romania

The quality of SIVECO Romania’s solutions and services is acknowledged by the market

Friday, August 4, 2006

Bucharest, 4th of August 2006 - According with International Data Corp. (IDC) study the Enterprise Application Software (EAS) market in Romania grew 27.5% year-on year in 2005 to reach a value of $45.07 million, while in 2004 only reached $45.07 million domestic EAS (Enterprise Applications Software) market, totalized last year  35,36 million dollars.

According to this study, in 2005, SIVECO Romania SA has a 19,3 % share of this market, maintaining itself in the top of the EAS providers dominated by world leaders in this domain.

In 2005, SIVECO Romania SA L&M revenue registered over 31,5 % in growth comparing with 2004. 

„Our business evolution in EAS domain follows the Romanian IT market general tendency, still characterized by fluctuations and dependent on the finalizing of large, complex projects”, says Mrs. Irina Socol, General Manager of SIVECO Romania.

Following its excellent growth during 2005, SIVECO Applications has now 450 domestic customers.  As a confirmation of these performances, starting with 2005, SIVECO Romania attracted the strategic investment of Intel Capital and Enterprise Investors.  This was the largest investment made in an IT company in Romania, supporting the company’s intention to act as a regional leader in the future.

SIVECO Romania’s turnover reached 37.6 million USD in 2005, keeping up with the previous years in terms of increase (almost 50%).

In 2005, SIVECO Romania continued its major national projects such as: The National House for Health Insurance, Petrom and MedC. We also successfully continued the implementations at Uztel Ploiesti, Romvag, Carpatair, Dobrogea Biscuit, CFR and finalized projects such as:  NTCS, Anticorosiv, Romanceram, Bucharest City Hall.

The denomination of the leu was also a challenge for developers and implementers of SIVECO Romania. The denomination process started in October 2004, and all the components of SIVECO Applications were successfully installed to all our clients. For the financial - banking sector, the offer was completed with the SIVECO Applications package and with software development and customization services for the treasury and risk management applications

In the first six month of 2006 the company maintained the same rhythm, increased its portfolio of clients with 58 new beneficiaries, continued its major projects, has started new ones, consolidated its national and international partner network and intensified investments in research and development.   

„The recent results of International Data Corp. (IDC) study come to confirm that our business strategy is working. In the next five years we intend to evolve from the most important Romanian software house to a regional software integrator so that until 2010 to become an European leader” declares Mrs Irina Socol.