Romanian software company Tremend forecasts a 40% turnover increase in 2017, from EUR 3.5 million in 2016, mainly due to the high demand for advanced software solutions.

The increase is based on both the consolidation of existing accounts and the expansion of the client portfolio, according to a company statement.

"In 2016 we had a balanced growth. We expanded our portfolio, and five new companies entered among the top ten largest clients, including one of the largest hypermarket chains in the world. Furthermore, we consolidated sales to existing customers. Five of the current clients continue to rank among our largest ten customers: Wind River, Orange, ING, Coats, and WorthPoint," said Ioan Cocan, Managing Partner Tremend.

To support the 40% growth targeted in 2017, Tremend has launched a recruiting and training program for more than 40 software engineers, who will join the company’s development center in Bucharest.

"This year we’ll continue to deliver added-value to our clients from Romania, US, UK or the Scandinavian countries, by incorporating new technologies into the solutions we develop: IoT, Artificial Intelligence, Blockchain, Machine Learning, Microservices," said Marius Hanganu, Managing Partner Tremend.

The team expansion the company plans for this year coincides with its moving to a new building, the opening of a new regional center outside Bucharest, and the launch of Tremend Labs – an idea incubator where software engineers will test various technologies to build prototypes and new products.

Tremend has registered a 399% turnover growth between 2012 and 2016, which made it the most dynamic Romanian company in the Deloitte 2016 Fast 50 Central Europe ranking. The software company was 37th in the regional ranking.

Only four Romanian companies were included in the 2016 Deloitte Technology Fast 50 Central Europe ranking, down from 10 companies in 2015.

Irina Popescu, irina.popescu@romania-insider.com