Brazilian software firm Totvs (Bovespa: TOTS3) has opened a franchise in Lima, Peru, that will focus on SMEs in the manufacturing, services, retail and logistics and distribution verticals, the company announced in a release.
"Peru is one of the countries in Latin America that will grow in its use of ERP in the next few years, due to its high economic growth.... That demonstrates the stability and structure [needed] for us to do good business in the market," said Claudio Bessa, Totvs' director of international operations.
The plan is to make Totvs' complete portfolio of solutions available in the country in the next two years.
Despite having clients in the country, Peru was one of the few nations where Totvs did not have local operations, the company noted. Before the opening of the franchise, Peruvian clients were serviced by Totvs subsidiaries such as those in Argentina and Mexico.
The Latin American firm has more than 26,200 clients, 9,000 employees and 74 distribution channels, as well as presence in 23 countries.
Shareholders of Totvs approved a 5:1 stock split earlier this week.