SOFTECH, our software development company from Cluj-Napoca, Transylvania region, Romania just got listed in Forbes Romania’s 2023 Champions League, that is the list of companies in Romania that recorded continuous growth and profit over a period of 10 years! The announcement was made by Forbes Romania in June 2023, after analyzing 600.000 active companies in Romania and the list of growth champions shrank to a set of 1069 companies! The official Forbes Champions League Gala took place last Friday, June 30th, in Bucharest.
About Forbes Romania’s 2023 Champions League
“The difference between champions and ordinary people is, first and foremost, the ability to continuously improve their performance. The ability to constantly assess their strengths and weaknesses, to persevere and endure through introspection allows champions to progress even when others give up. In the same way, successful companies manage to thrive regardless of the economic and social context they face.
Forbes Romania has compiled, for the second year in a row, a list of the champions of the last decade*, i.e. those companies that have continuously grown their business and remained profitable despite any adversity, be it economic crisis, social crisis or pandemic.” – writes Ionuț Bonoiu, Chief Editor of Forbes Romania, in his article.
The Findings
In order to understand the importance of this short list, we have to look at the collected data, as presented in the editorial. According to the study methodology, In 2021, only 5% of the total active 600.000 companies in Romania have managed to reach a turnover of over one million euro. To raise the bar, the analysts found that less than 3% of the same total reached a limit of 2 million euro annual turnover.
In the end, only a little over 1000 companies managed to meet the growth champion criteria as defined by the Forbes Romania methodology and based on the data centralized by Credit Sky: to record growth and profit in each year of the analyzed decade ( 2012 – 2021).
What is even more interesting is that 700 companies out of this select lot of 1069 companies are small enterprises (with annual turnovers of less than 10 million euro). One third of these companies is formed of medium enterprises (with annual turnovers of less than 50 million euro), while less than one eighth consists of large companies (with annual turnover of more than 50 million euro). Yet, it is also worth mentioning another fact revealed by Forbes Romania: 70% of the total turnover and two thirds of the cumulated profits are concentrated in the records of the large companies.
SOFTECH’s Ranking
According to all the criteria, SOFTECH srl, a tech company founded in 1998, in Cluj-Napoca, ranks 552 out of 1069. That literally means a few positions above the middle of this distinguished list. It is a valuable ranking because, as Credit Sky analysts reveal, the last decade of business champions list is dominated by traditional industries – the “brick & mortar” or so called “legacy industries” – as opposed to the number of tech companies in the list.
Since SOFTECH is celebrating its 25 years anniversary this year, we cannot but be proud of this public recognition as a part of Forbes Romania’s 2023 Champions League. We publicly congratulate the entire team of software development and administration for such a fantastic endurance and results on one of the most challenging markets in Europe.
Let’s continue being committed to excellence and we will win each race together!
The full article is available online in Romanian: https://www.forbes.ro/10-ani-de-crestere-333189. Under the article you can find the final list, where you can navigate from one page to another in order to check the rankings.
About the “10 Years Of Growth” Project by Forbes
The latest issue of Forbes Romania presents those companies that have managed to constantly be profitable and grow over the last decade.
The project is a sequel of the 2022 project: List of King Midas, who, according to the legend, turned everything he touched into gold. It was a first-ever ranking made by Forbes Romania of the 100 most profitable companies in Romania: the companies that made a profit in each of the last 10 years.
Therefore, Forbes Romania has compiled, for the second year in a row, the list of the champions of the last decade.
