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Brazilian software firm Totvs (Bovespa: TOTS3) has moved up to become the sixth largest integrated business management company in Gartner's ERP-Suite providers ranking, according to a press release from Totvs.
The Brazilian company showed the largest compound average annual growth among the six largest global players, growing 21% between 2008 and 2010. Totvs was also the only one of the six to see double-digit organic growth.
In Brazil, Totvs held on to its top spot with a 48.6% market share.
For the third year in a row, Totvs was ranked as the largest company in Latin America with 34.5% market participation. Growing 3.8 percentage points from the previous year, the company saw the highest market share increase among all the region's major players.
In its ranking, Gartner considered total software revenue as generated by applications such as new licenses, updates, subscriptions and hosting, technical support and maintenance. Implementation of services and hardware sales is not included in this figure.