From startup to listed company: how we transformed

Posted on by andreea.pislariu

During technological excitement, we celebrate two years since we entered the stage of the Bucharest Stock Exchange and entered a phase of business maturity, following years of construction and skills training. We look back with joy and pride at our beginnings when we started with an ambitious vision: to bring digital technology closer to as many people as possible. I invite you on a brief journey together through our past, present, and future.

Navigating through transformation

In 2005, we laid the foundations for Connections, firmly believing that we could make significant changes in the IT landscape in Romania and beyond its borders. We underwent a continuous development process, and in our 18 years of existence, we built our own products and expanded our service portfolio to include intelligent automation, IT infrastructure support, digital process management capabilities, and customized software development. In 2010, we took our first steps towards international expansion, establishing a strong presence not only in Romania but also in the markets of Bulgaria and Serbia, with sales offices in the United States, the United Kingdom, and Germany. We became a Gold Partner of UiPath and an Aurachain Partner to enhance our capacity to deliver complex digital transformation projects. We evolved by gaining significant clients, and the main sectors in which the company operates include FMCG, Finance, Manufacturing, Health, Logistics and Distribution, and the public sector. Thus, we contribute to the development of the digital economy through various types of projects, both private and public, ensuring a balanced business outlook for today and the years to come.

Listing on the Stock Exchange – a significant moment

A significant moment in our history was our listing on the Bucharest Stock Exchange (BVB) in September 2021 under the symbol CC. This move represented not only a recognition of Connections’ performance and potential but also a strong commitment to transparency and continuous development. In March 2022, shortly after listing, Connections became part of the BET AeRO index. We expanded our team of specialists by 30%, and the number of our shareholders doubled from the time of listing, reaching over 400 at present.

In the first two years since our debut on the capital market under the CC symbol, our teams have proven that technology has the power to simplify the daily lives of people and companies, wherever we are and whenever we want to connect with processes, colleagues, and organizations.

The company’s financial performance has been a consistent factor in our journey, with solid results. Recent reports for the first half of the year show a turnover of 40.9 million lei, with revenues up 62% compared to the same period in 2022. We estimate that we will close the year with revenues exceeding 100 million lei. Net profit for the first half of 2023 recorded a 273% increase, reaching 3.6 million lei.

We entered the AeRO market with confidence and determination, and from an ambitious startup dreaming of bringing innovation to the IT landscape, we have become a presence with increased leadership and relevance in the industry. Today, at Connections’ “coming of age,” we have spent the first 2 years on the stock exchange, quickly becoming part of the BET AeRO index, which has facilitated our access to increasingly complex projects, accelerated our financial results, and achieved a higher employee retention rate than the IT industry average.

Our journey so far represents a great deal of growth effort, but the direction is clear for the future: we remain true to the promise of creating value for our shareholders and contributing significantly to the digital transformation of Romania and the markets in which our teams operate.

We appreciate the confidence with which you invest in #ConnectionsTeam!

Connections Consult exceeded financial estimates for 2022. Consolidated revenues of 58,46 million lei in 2022 and a gross profit of 5,11 million lei

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Bucharest, March 27, 2023 – Connections Consult (CC), a group of digital transformation companies, listed on the AeRO Market of the Bucharest Stock Exchange, reported consolidated revenues of 58,46 million lei in 2022 and a gross profit of 5,11 million lei, with an increase of 48% compared to 2021.

In the reporting period, Connections recorded a 29% increase in revenues compared to last year on the back of new projects carried out within the lines of software and RPA services, as well as the increase in the volume of software consulting and outsourcing services offered within Outsourcing Support Services SRL and Brusch Services SRL.

Gross profit increased by 48% compared to 2021, and also during this period, the technology verticals saw a consolidation of the contribution to the total revenues of the group.
In this regard, the line of software development services (“software development”) reached a 36% revenue contribution rate, and hyperautomation services (RPA) represent, at the end of 2022, 6% of total revenues.

Furthermore, the Group exceeded the financial estimates for 2022, mentioned in the memorandum from the private placement and in the one from the technical listing of September 2021, both in terms of revenues (18% increase compared to estimates), but also gross profit (an increase of 20,31% against estimates).

Connections delivered on its commitment to its stakeholders and continued to invest resources in developing high-potential service lines to maximize the Group’s net asset value.

“In an extremely volatile market context, internationally and locally, with many uncertainties and difficult to manage: the war in Ukraine, inflation, the potential food crisis, the energy crisis and that of the supply chains, therefore, in a landscape complex, we maintain our energy, perseverance, and positive estimates for 2023. The financial information presented in the Report aligns with the strategy announced by Connections regarding the development of the business and is proof of the ability and commitment to increasing the value of its assets”, said Radu Marcu, co- CEO Connections Consult.

At the date of publication of the current financial report for 2022, Connections has already included on the agenda of the General Shareholders’ Meeting of 24.04.2023 the voting of the Employee Stock Options (ESOP) program and the distribution of dividends related to the group’s profit obtained in 2021. The founder and majority shareholder, Bogdan Florea, will not be part of the ESOP program.

“The year 2022 meant for Connections Consult the continuation of strengthening the financial position in the Balance Sheet. The company recorded an increase in the value of assets easily convertible into cash, as shown by the comparative balance sheet 2021 versus 2022. The increase in current assets is mainly due to the increase in the balance of receivables on December 31, 2022 compared to 2021, correlated with a decrease in the balance of cash. This is due to the use of cash for business growth”, stated Bogdan Florea, co-CEO of Connections Consult.

At the end of 2022, the issuer recorded a balance of Current Assets in the amount of 22.009.821 lei, 11,25% more than on 31.12.2021, of which 4,5 million lei represented cash availability.

According to the budget for 2022, Connections proposes a consolidated turnover of 83 million lei and an EBITDA of 7,75 million lei. These estimates include the results generated by all the group companies in which Connections Consult S.A. owns more than 51%, including Brusch Services – the company acquired by the Group in 2021.

“The group’s exceptional results, reflected in the indicators mentioned above, are the effect of the perseverance, creativity, and energy demonstrated by the Connections team, to whom we thank for a remarkable 2022! We thank our investors who showed patience, trust and moral support through their open attitude and honest approach in relation to the company!”, added Bogdan Florea, co-CEO of Connections Consult.

ID Scanner: Over 10,000 working hours saved by the ID card data scanning application

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Bucharest, March 22, 2023 – Connections Consult SA, the leader of the digital transformation market in Romania, listed on the AeRO market of the Bucharest Stock Exchange (BSE) under the symbol CC, estimates an increase in the number of companies that will use smart solutions in their digital transformation path. Such an application, ID Scanner, developed by Connections, which automatically extracts data from the ID card, has saved so far over 10,000 hours of the employee’s time from the companies that have already implemented the application.

Onboarding processes play a key role in building databases and employers assign them increased importance. At the same time, they can consume important resources, and companies in various industries, such as banking, telecommunications, insurance, and others, are increasingly looking for solutions to streamline and make these processes faster. Lately, Connections Consult SA has registered an increased wave of applications for ID Scanner, an application that has already been successfully implemented in various fields and which has shortened the time wasted by employees with the entry of data from identity cards into the system.

“In many companies, digital simplification and transformation projects are underway, so that work processes and repetitive tasks are no longer a chore for employees. On this trend, the interest in intelligent solutions, such as our application, has increased. There are customers from different industries, and to support them we have launched a website with more information about ID Scanner, on which they can also test our solution.

The application is easy to use and adapt to other standard formats. Basically, through a simple picture, you can automatically extract, digitally, the data from an identity card. We are talking here about the Romanian identity cards, because most of the solutions that existed before on the market were not compatible and involved additional investments”, said George Radu, Product Manager ID Scanner.

With the help of ID Scanner, various operations can be performed, such as the enrollment of customers (individuals), the automatic filling of contracts, the updating of personal data, the registration of visitors, but also many other operations.

When integrating external technologies, the flexibility and security of the system are essential for most companies. The ID Scanner app can be easily integrated into IT ecosystems that implement complex business process flows. The solution can be hosted in the cloud or on premises, and is now also offered as a SaaS (software as a service) solution.

Accessible from the new www.idscanner.ro website, the application is easy to use, in just three steps, explained by a demonstration video. ID Scanner-type solutions are constantly growing in a digital transformation market estimated to increase its value 3-4 times globally by the end of this decade, respectively to exceed the value of $ 6 trillion, according to the latest studies.

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Top 5 motive pentru care outsourcing-ul poate aduce beneficii companiei tale.

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În contextul unei piețe extrem de competitive, transformarea digitală a companiilor nu a fost niciodată mai necesară. Astfel, cererea de externalizare a serviciilor de software și de automatizare a proceselor este în creștere. Probabil că sunteți familiarizat cu beneficiile și compromisurile generale asociate pe scară largă cu outsourcing-ul, dar nu toate piețele de outsourcing și companiile din cadrul acestora sunt la fel. Datorită numeroșilor vorbitori de limbi străine și a specialiștilor IT, România se află printre primele 20 de țări preferate pentru outsourcing la nivel global și primele 3 în Europa.

Pe scurt, indiferent dacă sunteți un start-up sau o companie multinațională, externalizarea dezvoltării de software poate fi calea de urmat. Există nenumărate beneficii în a lua o greutate de pe umerii dvs. și a vă pune încrederea într-o altă companie pentru această etapă a proceselor companiei.

Reducerea costurilor

Procesul de angajare și formare a unei echipe cu normă întreagă poate fi costisitor, în special pentru proiectele pe termen scurt. Externalizarea nevoilor dvs. de software personalizat este o abordare bună pentru reducerea costurilor operaționale. Acest raționament este susținut, de obicei, de avantajele pe care externalizarea le oferă unei întreprinderi în ceea ce privește economiile de costuri și reducerea investițiilor permanente într-o infrastructură internă necesară pentru a realiza aceleași activități la nivel intern.

În plus, deoarece profesioniștii cu care veți lucra în procesul de externalizare sunt foarte bine pregătiți în domeniul contabilității, timpul necesar pentru a procesa facturile aferente clienților este mai scurt decât ar fi fost necesar pentru o echipă internă. De asemenea, compania dvs. va economisi timpul necesar pentru a recruta și instrui un nou angajat.

Vă puteți concentra pe activitățile de bază

Fiecare membru al echipei ar trebui să se concentreze pe ceea ce face cel mai bine și pe activitățile care aduc venituri astfel încât afacerea să aibă succes. Atunci când încredințați procesele unei alte companii, o mare parte din volumul de muncă dispare, iar dvs. veți avea timp să vă concentrați pe principalele activități ale afacerii. Astfel, outsourcing-ul este o soluție excelentă pentru a experimenta o creștere a eficienței și productivității, reducând în același timp și consumul de resurse.

Eficiență îmbunătățită a gestionării sarcinilor

Pe lângă procesul de delegare a sarcinilor de lucru care sunt greu de gestionat, externalizarea permite întreprinderilor să ia în considerare restructurarea proceselor de afaceri și beneficiile acesteia. Departamentele și operațiunile care nu sunt gestionate și care utilizează resurse necontrolabile sunt primele care trebuie încredințate unor specialiști care au, de obicei, o experiență vastă în management. De asemenea, externalizarea asigură continuitatea afacerii și un flux de lucru organizat și controlat.

Acces la o tehnologie modernă

Cele mai multe companii de externalizare a suportului tehnic solicită instruirea regulată a angajaților lor cu privire la noile practici și tehnologii. Cu o echipă de asistență tehnică externalizată în acest domeniu, aveți acces la cea mai bună tehnologie care se potrivește nevoilor afacerii dumneavoastră. Puteți fi sigur că veți primi sfaturi de încredere și servicii transparente pentru toate nevoile dvs. de afaceri legate de IT.

Este important să stabiliți o relație solidă cu partenerul dvs. de externalizare, deoarece acesta vă poate oferi servicii de calitate superioară în numele dvs., oferindu-vă în același timp cunoștințele sale de specialist în tot ceea ce înseamnă tehnologie, ceea ce vă poate ajuta să vă conduceți afacerea fără probleme.

Creșterea gradului de flexibilitate și a calității serviciilor

Unul dintre beneficiile externalizării este garantarea unei îmbunătățiri a performanțelor companiei, deoarece un expert va realiza o activitate mult mai repede și mult mai bine decât un angajat nespecializat pe un anumit segment, întrucât are deja experiența necesară. Având în vedere că organizațiile de outsourcing au experiență în acest sector, acestea vor realiza analiza și planul de gestionare a riscurilor în mod profesionist. Astfel, se economisesc bani și timp pentru instruire și se reduc riscurile. Specialiștii vor găsi cea mai bună opțiune pentru afacerea dumneavoastră.

Echipa poate avea, de asemenea, strategii pentru crearea și perfecționarea funcționalității software-ului, ceea ce va duce la inovații suplimentare. În plus, aceștia pot genera idei pentru a depăși dificultățile existente în cadrul companiei.

Un alt beneficiu important este faptul că firmele de outsourcing au, de asemenea, flexibilitatea necesară pentru a face față cerințelor în schimbare ale afacerilor. Această caracteristică permite unei întreprinderi opțiunea de a externaliza o parte a unei funcții, o întreagă divizie sau chiar responsabilități specifice, în funcție de strategia sa.

Căutați partenerul de externalizare potrivit pentru afacerea dumneavoastră? Contactați-ne la Connections Consult! Suntem o companie de echipă axată pe tehnologie, centrată pe procese și oameni. “Vindem” ROI folosind transformarea digitală și diverse modele de afaceri bazate pe servicii – BPaaS, servicii profesionale, creșterea personalului și externalizarea serviciilor tradiționale.

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5 FAQs every business has when adopting RPA

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Businesses in the digital era are reaping the benefits of robotic process automation. With around 80% of finance leaders implementing or planning to implement RPA and more than 90% of C-level executives reporting some level of intelligent automation already exists within their organizations, adopting new digital technologies plays a massive role in strengthening and transforming companies around the world. However, RPA implementation remains a challenging feat. 

From our experience, over the past year, there has been intensifying interest in robotics and the application of cognitive and artificial intelligence technologies. Connections Consult team of RPA specialists has consolidated the top 5 most commonly asked questions while researching RPA and RPA implementation: 

 

1. What does RPA stand for in technology?

RPA is an acronym that stands for “Robotic Process Automation.” It represents a software solution that does not involve physical hardware. In other words, bots can execute repetitive tasks that a human does on multiple systems and platforms. Actually, RPA takes over many of the responsibilities employees dislike most. Adopting RPA to reduce monotonous tasks can precipitate a happier and more productive workforce. 

 

2. Why automate business processes and free humans? Doesn’t that lead to job losses?

Maybe you’re thinking: ”Sure, automating processes is good for businesses, but what about the people doing the work? They may not like the mindless and repetitive parts of their jobs, but they don’t want a robot to replace them.” Contrary to popular belief, RPA creates new possibilities and opportunities instead of eliminating jobs. For workers and employers.

 

3. What’s the difference between RPA and macros and scripting?

While some features are similarly shared by macros and RPA, others are unique to Robotic Process Automation. According to UiPath, a macro is a short code sequence that automatically expands into a set of instructions to perform a single task. Unlike a macro, a robot can act autonomously to use and orchestrate any application, from mainframe and legacy applications to closed third-party APIs.

Macros have limited scope to what they can automate because it is difficult to link them with products outside the Microsoft Office suite. When working with non-Office programs, we often face problems that cannot be dealt with by macros alone. However, because RPA can be integrated with other applications, it’s suitable for automating more tasks within a single workflow.

 

4. Do you need help implementing and maintaining RPA?

RPA can be a challenge for some businesses. It requires a significant change to the way your business operates. RPA installation itself can be straightforward and not dependent on your other existing systems or have demanding infrastructure requirements.  RPA comes in several forms ranging from a quick record-and-play bot to a complex algorithm with multiple branches of scenarios covering several permutations of cases. In the current, constantly changing business environment, businesses need to constantly adapt their processes and products to stay on top of the competition. 

To successfully harness the benefits of RPA implementation, there must be process improvements, internal controls, etc. RPA performs best with a good operating model.

 

5. Can RPA be accessed by outsourcing?

Your business can still reap the benefits of RPA technology even if you are not prepared to invest in an in-house digital transformation process. Collaborating with an outsourcing RPA company, you’ll have access to RPA software to help convert financial processes from manual to automated procedures.

Connections Consult appoints Radu Marcu as co-CEO

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Bogdan Florea remains in the management of the companies

Bucharest, January 12, 2023 – Connections Consult SA, listed on the AERO market of BVB and the leader of the digital transformation market in Romania, announces the appointment of Radu Marcu as Executive Director (co-CEO) starting from 03.01.2023.

Radu Marcu will lead the company alongside the founder of Connections Consult, Bogdan Florea, who remains the leader of the company.

Radu Marcu joined Connections Consult in November 2021 and held the position of Software Chief Operating Officer. Until now he led the bidding, delivery, and post-implementation operations of the software development team and was part of the Management Board of the Connections group. He has over 15 years of experience in managing software development activities, within TotalSoft, but also within other companies, where he managed integrated projects for clients from Romania and other markets, complex products, and led extensive software development teams and products.

“Ever since I joined the Connections team I have shared the same vision and I am excited to step forward in this company that pursues operational excellence and the delivery of value-added products and services. We will continue to work together, innovate and develop new products”, said Radu Marcu, co-CEO of Connections Consult.

Bogdan Florea will remain the President of the Board of Directors and co-CEO and will continue to implement the strategy of expanding the portfolio of complex digital transformation projects both in the local market and in other regions.

“Connections Consult continues to grow and needs more pillars to follow our expansion strategy. Radu Marcu already knows everything about Connections projects and is the right person to collaborate on Connections’ mission to accelerate the digital transformation of the public and private business environment. I am sure that together we will be able to take Connections Consult even further. Collective leadership ensures a considerably higher level of governance and allows us to be sufficiently flexible and agile in decision-making, in the perspective of a turbulent and constantly changing economic environment. Consolidation of the managerial act in Connections will continue in the coming months. We are already working on a new organizational chart and attracting future colleagues with significant exposure in various areas of specialization, both in the management team and on the Board of Directors. This step is the second stage in the creation of solid and resilient governance mechanisms, after the founding of the Advisory Council, carried out in 2022,” said Bogdan Florea, founder, and co-CEO of Connections Consult.

 

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How to choose the right RPA tool for your business?

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Today’s market is rapidly evolving, and automation is one of the most influential factors considering its applicability in a wide range of sectors, functions, and processes. But even though the technology is now woven into the fabric of work, there’s a tremendous opportunity to automate routine and repetitive tasks. This is what Robotic Process Automation concept relies on – automating repetitive, rule-based, labor-intensive processes, reducing the dependency on manual labor, and increasing business efficiency and accuracy. The RPA bots implementation has tremendous potential to eliminate drudgery—in data entry, billing, order management, HR onboarding, and endless other areas.

 

Of course, there is no surprise that RPA technology is also evolving daily with added features and functionalities. Gartner reported that RPA software is the fastest-growing global enterprise software market segment. RPA is expected to eclipse cloud, IoT, and blockchain, receiving the most significant investment focus for enterprise buyers looking to achieve operational effectiveness. 

How do you choose the right RPA platform for your business needs? Our Robotic Process Automation implementation experts from Connections Consult, an innovative European group of companies with more than 17 years of experience, provide the necessary guidelines for choosing the right RPA tool.

Architecture

A well-designed RPA tool has huge implications for any company. The architecture of the Robotic Automation tool depends on where you want to employ this technology and how well it can be adapted for performing various tasks. Depending on the purpose of your tool, before choosing an appropriate RPA tool, you should make sure you have the right skills and expertise to use it, as well as knowledge regarding where it should not be used.

Most RPA tools rely on a layered design for better deployment and maintenance, which is another important factor to keep in mind while selecting the right RPA tool.

Ease of RPA implementation

One of the best features of Robotic Process Automation technology is its ease of implementation, non-invasiveness, and compatibility with existing legacy systems. Business users should be able to point and click the applications they normally use while a recorder notes the actions. Remember you want to improve the speed and efficiency of your business processes, which is why you are looking to deploy an RPA tool. Fortunately, 70% of organizations say that RPA releases employees from mundane tasks, help them focus on more strategic and creative tasks, and increases efficiency by 80%. 

Exception handling

Categorical machine learning models typically estimate the probabilities of the possible results. A robust Robotic Automation tool that is well-designed and will detect errors during automation more quickly than manual detection. In some cases, errors require human attention and must be directed toward experts. An efficient exception-handling capability ensures that workplace automation operates smoothly and seamlessly.

RPA integration with enterprise applications

A bot isn’t good for your company if it can’t get information out of your enterprise applications. That’s usually easier than parsing PDFs, but you need drivers, plug-ins, and credentials for all your databases, accounting systems, HR systems, and other enterprise applications. 

Connections Consult is an official UiPath partner company that trains software robots using RPA technology on the UiPath platform. We blend Software Development and Process Automation to leverage the original trifecta – People, Process, and Technology to the triple-A one: Automation, Artificial Intelligence, and Analytics. We design, architect, integrate, and deliver digital business solutions for various industries. We use rapid prototyping and design thinking to deliver innovative solutions. 

Support 

It’s always good to choose reliable providers and ensure that you are provided with a good support system. Different RPA vendors offer different kinds of support. You will want to check if the vendor provides part-time, contractual, or a dedicated round-the-clock support team and what kind of training or certification is required related to the functioning of the RPA tool. Best practices ensure strong maintenance procedures, so you must ensure access to these too.

 

Remember that each RPA tool has a specific purpose and doesn’t follow the size fit approach. Each tool has a specific purpose, and to evaluate the full potential of an RPA tool, you will need to prioritize one or more criteria over the others and choose the one which closely matches your requirements. If you are looking to gain further insights, schedule a meeting with one of our experts, and find the RPA solution for your needs.

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Top 5 reasons outsourcing benefits your company

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In the background of a highly competitive market, the digital transformation of companies has never been more necessary. Thus, the demand for outsourcing software and process automation services is expanding. You’re probably familiar with the overall benefits and compromises widely associated with outsourcing, but not all outsourcing markets and companies within them are the same. Due to many foreign language speakers and IT specialists, Romania is among the top 20 preferred outsourcing countries globally and the top 3 in Europe. 

In short, whether you’re a startup or a global corporation, software development outsourcing can be the way forward. There are countless benefits to taking the weight off your shoulders and putting your trust in another company for this stage of the company process.

Reducing cost 

The process of hiring and training a full-time team can be expensive, especially for short-term projects. Outsourcing your custom software development needs is a good approach for businesses to cut operational costs. Typically, this rationale is supported by certain advantages that outsourcing provides to a business regarding cost-savings and reduced ongoing investments in an internal infrastructure required to perform the same activities in-house.

Moreover, since the outsourcing professionals you will be working with are highly trained in accounting, the time it takes to process invoices for accounts payable is less than what it would take for an in-house team. Your company will also save the time required to recruit and train a new employee.

Focus on the core business 

Every team member should have to focus on what they do best and activities that bring revenue for the business to be successful. When you entrust processes to another company, much of your workload is gone, and you have time to focus on the core segments of your business. Thus, outsourcing is a great solution to experience an increase in efficiency and productivity while lowering resource consumption.

Improved task management efficiency 

More than delegating work tasks that are laborious to handle, outsourcing permits businesses to take notice of the business process re-engineering and its benefits. Unmanaged departments and operations that use uncontrollable resources are the first to be outsourced to specialists who usually have extensive management experience. Also, outsourcing provides business continuity and controlled workflow.

Modern technology access

Most tech support outsourcing companies require regular training on new practices and technology with their employees. With an outsourced technical support team in this field, you get access to the best technology that fits your business needs. You can be sure to receive reliable advice and transparent service for all your IT-related business needs. 

Establishing a solid relationship with your outsourcing partner is important, as they can provide top-notch customer service on your behalf while sharing their expert knowledge on all things tech that can help run your business seamlessly.

Increased flexibility and service quality

One of the benefits of outsourcing is guaranteeing an improvement in company performance because an expert will perform an activity much faster and much better than a non-specialist employee in a particular segment, as he already has the necessary experience. Considering that outsourcing organizations have experience in this sector, they will perform the risk analysis and risk management plan professionally. This saves money and time for training and reduces risks. Specialists will find the best option for your business. 

The team may also have strategies for creating and improving software functionality, which will lead to additional innovation. Furthermore, they may generate ideas for how to overcome existing company difficulties.

Another important benefit is that outsourcing companies also have the flexibility to meet changing business demands. This feature allows a business the option to outsource part of a function, an entire division, or even specific responsibilities depending on its strategy.

Looking for the right outsourcing partner for your business? Contact us at Connections Consult! We are a technology-focused team company, process & people-centric. We “sell” ROI using digital transformation and various service-based business models – BPaaS, professional services, staff augmentation, and traditional services outsourcing.

Experts with over 20 years in technology are joining Connections Consult and form the new Advisory Board

Connections Consult improves access to justice by implementing the electronic file

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Experts with over 20 years in technology are joining Connections Consult and form the new Advisory Board

Bucharest, November XX 2022 – Connections Consult SA, listed on the AERO market of BVB and the leader of the digital transformation market in Romania, signed a new significant contract with the Ministry of Justice for the implementation of the ECRIS management system, which facilitates access to justice and implements the electronic file.

The project, one of the most complex in recent years in the field of digital transformation in the public sector, was won by a consortium of partners whose leader is Connections Consult SA. The total amount of services delivered will be over 39.4 million lei plus VAT, and the value of the activities carried out individually by Connections Consult SA will be 23,138,159 lei plus VAT.

“Connections continues to implement the strategy of expanding the portfolio of significant digitalization projects. We are pleased to announce the signing of a new contract with the Ministry of Justice for the delivery of services for the development, testing, and commissioning of the new ECRIS V case management system and related staff training services. The new digital architecture will significantly contribute to increasing the degree of digitization of the judicial system, among the major functionalities brought is the electronic file, which will allow the beneficiaries full electronic management of the documents in the files – at the level of courts and prosecutor’s offices”, said Bogdan Florea, founder and CEO Connections Consult.

Implementing the new ECRIS V electronic case management system also requires interconnection with other existing IT systems, including implementing a unified data standard. In addition, ECRIS Courts will be integrated with the ECRIS Portal Courts application, which will become the key component for the digitization of the judicial system and can be used by interested parties (parties to a case, lawyers and others) about the courts as a single point of online interaction – submitting documents online, consulting the contents of a file online, etc. Also, a similar portal for prosecutors will be created – ECRIS Portal Prosecutors.

The estimated deadline for the delivery of the solution to the Ministry of Justice is July 2024.

 

Connections enters the shareholding of the edtech company 10 Plus and acquires 25%

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The acquisition of the platform will bring a yield of at least 30-40% annually, in the next 5 years

Bucharest, November 3rd, 2022 – Connections Consult SA, listed on the AERO market of BVB and the leader of the digital transformation market in Romania, announces the acquisition of a 25% stake in the edtech 10 Plus Future Education SRL company.

The company, specialized in online courses for adults and children, language courses, mathematics, Romanian language, etc. is the first acquisition of this year of Connections Consult SA, after last year’s full purchase of Brusch Services SRL. After the acquisition, Brusch proved to be a real success, with excellent performance, considerably above last year’s figures.

“The reason why we decided to make this transaction is the explosion of edtech services, respectively the digitalization of education using the latest technologies – virtual reality, augmented reality, artificial intelligence. We estimate that the acquisition of the www.10plus.ro platform will bring a yield of at least 30-40% annually, in the next 5 years, either from exploitation or from finding of a new partner. The takeover of the shares was achieved through a transaction that implies only the investment made by Connections in the technological development of the digital platform for the delivery of online courses and in online marketing services to attract customers”, says Bogdan Florea, founder and CEO Connections Consult SA.

Connections Consult S.A. aims to contribute together with the founder Victor Militaru and Anca Florea, managing partner, to the development of the company in digital environment.

 “The entry into the 10plus.ro shareholding of Connections Group represents, on the one hand, the validation of the efficiency and efforts invested by the current management team, and, on the other hand, a trust capital earned by the company, for the accelerated evolution in the next 3-5 years, towards the flagship edtech platform of the South-East European region”, added Victor Militaru, founder of 10plus.ro.

10plus is positioned today among the best performing companies in the industry, through its didactic expertise, constant technological innovations, and background in organizational processes.

The 10Plus journey began in the year 2012, at the same time as Google Glasses, 4 years before the launch of Google Translate and 8 years before COVID-19.

The founder of the company, Victor Militaru together with Imelda Bădescu, a teacher with over 14 years of experience, chose a business model little known to the Romanian market at that time – online courses to complement the traditional education system. They have developed an entirely online teaching system based on a premium educational standard and teaching methods.

After 10 years, the live teaching-learning platform with 10Plus teacher has become one of the most popular, especially due to the expertise of teachers, teaching methodology and the relevance of language courses, Romanian language and mathematics.