Totvs seeks to become global enterprise, says president

- Wednesday, November 2, 2011

Totvs seeks to become global enterprise, says president

Brazil's largest software firm, Totvs, is entering a new business phase and is seeking to become a global enterprise with presence in the main emerging markets with growth rates similar to Brazil's, company president Laércio Cosentino told investors during a conference call.

According to the executive, Argentina, Chile and Colombia are among the first regional targets in the expansion plan, initially taking advantage of a partnership signed earlier this year with IBM, through which Totvs provides ERP solutions over IBM's cloud computing offer in these countries.

Cosentino noted that local personnel are being trained by the company to implement the applications.

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At the same time, the company is eyeing other Latin America countries and looking into investing in more remote markets as well, such as Russia, India and China, the executive said.

"We are working hard to make Totvs a global company, and at the same time implementing a new interface - a social interface - in all of our systems," he said.

Cosentino noted that while 2011 was dedicated to integrating the company's business verticals, 2012 will be focused on strengthening and expanding Totvs' corporate social network among potential new clients.

"By You," a social network-type solution for the corporate environment, was launched by Totvs last August and is being initially implemented in Totvs own environment.

Q3 RESULTS

Totvs posted a 39mn-real (US$22.5mn) net profit in Q3, up 20.3% year-on-year, a company best for the period. Net revenue rose 6.7% to 324mn reais, while Ebitda fell 12.5% year-on-year to 77.1mn reais.

Totvs has also added 732 new clients to its base, 14.3% less than in 3Q10.