TOTALSOFT
TotalSoft is a leading Romanian software solutions developer and systems implementer. The Company has acquired expertise in designing, selling, and implementing products suited to SMEs, the most dynamic market segment in Romania, and a sector exhibiting growth despite repeated economic downturns. The investment that the Trans-Balkan Romania Fund (TBRF) has made in TotaISoft is an example of leveraging SEAF's overall SME focus. Set up in 1994 by Romanians Liviu Dragan and Dan Lazarescu, TotalSoft plans to build on its impressive customer base by developing an ERP (enterprise resource planning) system, which is neither' like inadequately customized Western packages nor error­-prone and incomplete local systems. To this end, TBRF invested an initial $400,000 for 31 % of TotalSoft, in March 2001, with a further $200,000 of convertible debt due to be drawn down in December 2001. Recently, TotalSoft won a contract to design an e-Market sponsored by the Romanian Government. If the design is accepted, TotalSoft is in an excellent position to win. the implementation project, estimated at $2 million. TBRF is assisting TotalSoft to implement new cost accounting and operational management systems for each project. In addition, TBRF staff members recently accompanied TotalSoft management to the U.S. to help with the launch of a new initiative to incubate Romanian companies in the US. ‘Incubator America!’ is a program sponsored by USAID, the Romanian Ministry of IT and Communications and the George Mason University Enterprise Center.
 

 

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TOTALSOFT

TotalSoft is a leading Romanian software solutions developer and systems implementer. The Company has acquired expertise in designing, selling, and implementing products suited to SMEs, the most dynamic market segment in Romania, and a sector exhibiting growth despite repeated economic downturns. The investment that the Trans-Balkan Romania Fund (TBRF) has made in TotaISoft is an example of leveraging SEAF's overall SME focus.

Set up in 1994 by Romanians Liviu Dragan and Dan Lazarescu, TotalSoft plans to build on its impressive customer base by developing an ERP (enterprise resource planning) system, which is neither' like inadequately customized Western packages nor error­-prone and incomplete local systems. To this end, TBRF invested an initial $400,000 for 31 % of TotalSoft, in March 2001, with a further $200,000 of convertible debt due to be drawn down in December 2001. Recently, TotalSoft won a contract to design an e-Market sponsored by the Romanian Government. If the design is accepted, TotalSoft is in an excellent position to win. the implementation project, estimated at $2 million.

TBRF is assisting TotalSoft to implement new cost accounting and operational management systems for each project. In addition, TBRF staff members recently accompanied TotalSoft management to the U.S. to help with the launch of a new initiative to incubate Romanian companies in the US. ‘Incubator America!’ is a program sponsored by USAID, the Romanian Ministry of IT and Communications and the George Mason University Enterprise Center.