6 Aug 2015First Semester Achievements Summary: The Growth Continues

While the competition on the software outsourcing market in Romania remains strong, we continued to move ahead, reaching new milestones at the end of the first semester in 2015. The growth is present in all the operational areas: financial, people, processes, customers. A few highlights of the first quarter achievements and facts are presented below:

Financial Perspective

On the financial front, the first two quarters of 2015 brought us an organic growth of 30% compared to the same period of last year, validating the forecast.

People Perspective

People-wise we witnessed a continuous progress, both in numbers and in expertise. As of 30 July 2015, Fortech’s workforce counted over 500 employees, up by 40% compared to the first half of 2014. The strong core team and the average working experience of 4.5 years indicate that the distribution of experience in our team followed the same positive trend.

Equally important is the expansion of our service offerings with additional services in business analysis, customer support, operations or graphic design.

The growth was primarily fueled by the increasing demand for software outsourcing and the continuous investment in talent recruitment and development.

Customer Perspective

The number of projects and customers are also encouraging, amounting to 70 active projects and 6 new clients at the end of the quarter. Most of the active projects are a result of a successful long term cooperation with our customers.

The collaborations started throughout the first half of 2015 with clients from Germany, Holland, USA and Korea focus on the automotive, telecom, media and health care industries.

Processes Perspective

In terms of processes, some of the most important achievements of the quarter are related to reorganizing the internal structure to include an additional layer of management in each business unit.

Apart from that we have maintained our attention on improving the internal processes and coaching process in each business unit.

These half-year stats were detailed during the Fortech Company Meeting, held at our headquarters in the previous month. In this context we revisited the medium term strategy, focusing on building a shared vision with all of our colleagues and gathering feedback from all the layers of the organization that will help us fine tune this vision. Having a common understanding of the current progress and future initiatives will allow us to move forward as a team committed to delivering long-term value for its clients.

Looking forward, we foresee a rich pipeline of interesting and challenging projects that will create excellent premises for our success in software outsourcing.