Innobyte, a Romanian software development company specialized in eCommerce, ended 2020 with a turnover of 1.8 million euros, 55% higher than in 2019. The favorable context and dynamics of online offer premises for maintaining the growth trend in 2021, when the company’s representatives estimate that Innobyte will exceed the turnover threshold of 2 million euros and EBITDA will reach 460,000 euros.
The development of the company’s current customer services has led to an increase in expectations for the software development company, along with the accelerated dynamics of the eCommerce market. Thus, in 2020, the turnover had an increase over the initial pre-pandemic estimates, while the company’s profitability tripled compared to 2019, EBITDA reaching 430,000 euros.
For the current year, Innobyte is counting on a 15% increase in turnover, thus exceeding the threshold of 2 million euros, maintaining the level of profitability and increasing by 25% the number of employees.
The Pandemic, a catalyst for the development of the eCommerce market
With the forced maturation of the eCommerce market, the business needs of Innobyte customers they became more specific and focused on the rapid implementation of technical solutions, adaptation to context and optimization at the operational level.
The pandemic had a catalytic effect on the eCommerce market and propelled online businesses. We have registered a remarkable increase in the demand for services from current partners, amid their need to develop their platforms, and this trend will continue in 2021 “, says Cătălin Bordei, Managing Partner of Innobyte.
Trends in eCommerce – personalization, marketplace and subscription
The factors that will contribute to reaching the threshold estimated by Innobyte refer to both accelerated digitization and the fact that in 2021 the basic need will be related to the performance of existing platforms and the development of solutions that place each business in the top of customer searches and accesses. to differentiate them from the competition.
The user is the element around which it will be built in 2021. The trend of securing and increasing the performance of platforms will also be maintained. ECommerce companies will implement more and more campaigns to attract and retain customers – which will involve new developments and ensure a favorable technical framework: online stores will be needed to operate at optimal parameters, to ensure a browsing experience very good, safe and allowing more traffic on the platform, stated Cătălin Bordei.
Also, among the trends of the eCommerce market is the continued development of type platforms marketplace , to offer a wide range of products, but also the development of niche stores, where more emphasis is placed on personalization and creating a great experience for customers.
The model of subscription it is another trend that is being observed more and more in eCommerce. It allows online stores to secure recurring customers for whom they will deliver their favorite products on a regular basis. Also, the orientation towards the development of mobile applications continues the growth curve, becoming an increasingly important tool in the strategy of eCommerce players.
In a market where there are more and more bidders, customers will choose to access the online store whose “voice” resounds in the crowd, they will buy from those who offer a safe and very good browsing and shopping experience. Thus, the personalization of the browsing experience will be a differentiator and we will certainly see more online projects that will capitalize on this trend., Cătălin Bordei also explained.
Team expansion and internship programs
In 2021, Innobyte aims to increase the number of employees by 25%, so that the team reaches 50 eCommerce specialists, in order to increase the capacity to manage new projects.
We continue to recruit specialists in our team , both programmers and specialists in testing and project management. We also intend to launch a new internship program, through which to offer a group of passionate people some of our know-how in software development and eCommerce, also specified Cătălin Bordei.