Romania-based iQuest ups turnover by 40% on Western European market demand

Software solutions and services provider iQuest upped its turnover by 40 percent last year in Romania, to some EUR 16 million, above the initial estimate of 25 percent growth. Western European markets brought 94 percent of the business, but the local market also brought some growth, with 11 new clients in the portfolio. Clients came from telecom, life sciences, financial services or mobile, said Cornelius Brody, CEO iQuest (in picture).

Local clients brought EUR 1 million to the turnover, while the rest came from external clients in telecom and life sciences. Its clients include Roche, Vodafone, Puma, The Financial Times and Virgin Atlantic. Estimations for 2012 point to a EUR 19 million turnover, translating as 20 percent growth, under a moderate growth scenario. “We work with 15 to 20 large clients and we grow with them. When you work with worldwide giants and have an almost 100 percent retention rate, you don't need too many sales efforts, but you need to maintain that organizational culture to generate responsibility for success,” said Cornelius Brody, CEO of iQuest Romania. Among the solutions delivered last year locally was the text-to-speech application 'Speak to me', for the public sector. More clients are tending to critically examine the offshoring concept, looking at total cost of ownership estimations or a project, not just daily or monthly costs, Brody explains. iQuest plans to employ 100 people this year, expanding the team in Sibiu. Last year, the company had 400 employees country wide. The company is headquartered in Frankfurt, has consultancy offices in Bucharest and Göteborg and software development centers in Cluj-Napoca, Braşov and Sibiu. editor@romania-insider.com