Essence to open new software unit

- Monday, October 24, 2011

Essence to open new software unit

Brazilian IT consultancy Essence is investing 1.6mn reais (US$914,000) in a new software unit aimed at developing business applications, news source Computer World reported.

The new department will initially serve the civil construction segment, but is likely to be spun off in the future, running independently from Essence.

The firm is said to have decided to focus on the construction segment after noticing a lack of tailored IT tools aimed at business management in this field.

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Essence's goal is to come up with solutions that can integrate with some of the main enterprise resource planning (ERP) management systems on the market, such as SAP, Oracle, Microsoft and Totvs.

"Through our consulting projects, we realized that even with large customizations, particular and fundamental needs for the core business of the construction segment remained unattended by the main platforms on the market," Essence CEO Rodrigo Ricco was quoted as saying.

The company estimates that the new unit will account for some 10% of the company's total revenues by 2012.