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TeamNet, part of Asesoft, is aiming for a turnover of EUR 32 million in 2011. Last year, the company posted EUR 21 million, Bogdan Padiu, general manager of TeamNet, told Business Review.
The firm has three major components in its future strategy. “Firstly, we wish to grow our footprint on the international market. We want to replicate the experience we gained in Romania on neighboring markets – these are markets that also want to join the EU, so they will have a similar evolution to Romania. The second direction is to target SMEs with the MORE platform, which is a very important initiative for us. Thirdly, we will continue to develop in the corporate area, targeting large organizations with private capital with our solutions,” Padiu told Business Review.
At the moment, TeamNet has offices in the Republic of Moldova and Brussels, Belgium. Plans are to open new branches in Turkey and Serbia. “Usually, when we start the business in a new country, we open an office with a team of four-five to establish a presence on the local market and start to learn about the local business climate. After that, based on the opportunities we identify on the respective market, we start to expand the office,” added the GM.
At first, most things related to the product range and preparing for future opportunities are done by the team in Romania with the help of the local unit. “After that, as is the case in Moldova for instance, where there are already contracts in full swing, the company starts hiring people from the local market to grow and become fully autonomous.
TeamNet has deployed 12 people to offices in the Republic of Moldova and 3 to Brussels. “In the first stage, they do sales and pre-sales under the coordination of a branch manager. The moment we start having projects, we hire engineers, analysts and project managers to deliver on the respective market,” said Padiu.
Until last year, TeamNet targeted large to very large companies. Clients were either private organizations with a high degree of complexity and wide coverage, or governmental organizations and local public administrations. Over 50 percent of the company’s revenues come from the public sector and the rest from the private sector.
Padiu says the cash flow bottlenecks from the public sector have had a negative impact on the company.
“We have learned how to work with the state and tailor our expectations accordingly regarding ability to pay. We have also learned to look at releases from the Ministry of Public Finances and see what is happening with the European funds and understand their internal processes in order to be able to anticipate whether there will be a payment this month or two months from now,” he said. “If you understand the system and the way the state works, you realize you could have known two months ago you would not receive payments this month. By anticipating what will happen, you can take some measures.”
As a rule, the company does not have bills that are more than 60 days late. “We try to synchronize pretty well and anticipate, especially in the case of projects with European funds where procedures are really rigorous. There were some situations when payments came later. Fortunately, we have a high number of projects and a problem that may appear on one of them does not affect the organization as a whole to a great extent,” said Padiu.
Recently, TeamNet launched MORE a solution tailored for small and medium sized companies. “We also had the surprise of seeing that even larger companies are thinking of outsourcing certain activities such as the internal portal side or CRM. The platform supports work in any industry but we also offer customization services to adapt its functionalities better to industry specifics,” said Padiu.
During the pre-launch stage, TeamNet had real clients using this platform, and allowed some time to pass to get some feedback from them on improvements that needed to be made. “We now think we are ready to launch it and attract a higher number of users. At this point, we have 300 users of this solution and hope that by the end of the year we will surpass 5,000,” added the GM.