Wizrom Software – Q3 Financial results

Wizrom Software recorded a slight market share increase and added in its existing portfolio 128 new customers after the first three quarters of 2010.

The Group overall performance (Wizrom Software, WizSalary Software and foreign subsidiaries) increased slightly compared to last year's turnover, situating at 4.8 million Euro.

Most projects that Wizrom initiated in 2010, which led to the company’s major revenues, were derived from the sale of licenses and services of the accounting and financial solution WizCount and the ERP solution WizPro. The contract value for this segment represented approximately 60% of the total revenue recorded by Wizrom Software in first 3 quarters of this year.

However, Wizrom Software identified a growing demand for outsourcing services and solutions acquisition as Software as a Service (hosting services and renting).

A significant increase was recorded from the sale of computer systems in the monthly subscription form (Software as a Service), which allows to implement solutions without any initial investment from customers, both in terms of necessary user licenses and hardware infrastructure“- Mr. Zemy Apfelbaum, Managing Director – Wizrom Software.

WizSalary solution, market leader in dedicated payroll solutions segment, personnel management and human resources, announced a number of 47 new contracts completed in the first three quarters of this year.

Among the contracts signed in the first nine months of this year, we can include: Tnuva, Rocast Nord, Zentiva, Vernicolor, Electrificare C.F.R, Saff Trading, Powertek, Cramele Halewood, Caroli Prod, Lemnconfex, Agro Expert GMBH, VBH Romcom or Cielo Venezia 1270 stores.

"For the end of 2010, we expect to reach a total of over 170 new contracts signed, which would mean a turnover of 6 million Euro" added Mr. Zemy Apfelbaum.