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Multinationals' stranglehold on financial sector software projects in Chile and other parts of Latin America is complicating the entrance of new players, Chilean IT firm Informat's IBS business division lead, Sebastián Segura, told BNamericas.
Informat has decided to steer clear of the financial sector, and focus more on sales to vertical markets such as construction, retail and services.
"Banking solution providers have been there for years," he said. "You can sell some very small things, but, in general, it's very difficult to penetrate the banking software market."
Informat CEO Bernardo Segura said the company expects revenues to jump 47% this year. The company has embarked on a five-year business plan and, as part of the initiative, Informat is reorganizing its operational structure this year.
Two of Informat's main business areas include IBS, which markets the company's ERP solutions, and MBS, which provides services related to Microsoft (Nasdaq: MSFT) Dynamics solutions. The company is planning on stepping up its business intelligence (BI) offer this year, the CEO added.
Informat is also edging closer to extending its presence abroad, with the most likely target country being Peru.
"There are two alternatives. There's an important developer that has a software factory in Peru that uses the same development tools that we use. That company is very interested in having us establish operations with them," Segura said. "Another alternative that we're analyzing is through Microsoft. We're in advanced conversations with their biggest partner in Lima."
Still, the executive noted that a definitive entrance into that country would not happen until year-end at the earliest.
"I think that we won't move on the Peru plans until the fourth quarter of this year," he said. "Before that, we want to consolidate the operations and growth that we have here."
Headquartered in Santiago, Informat has roughly 550 clients.
Although Chile accounts for 98% of Informat's total sales, the company has implemented projects in countries such as Puerto Rico, Costa Rica, Peru and Colombia. Informat is a Microsoft certified gold partner.