Background: Business Partner Search & Selection for Finnish ITC company
The Challenge:
Our Client for this Business Partner Search & Selection project was a Finnish ITC company specializing in network and geographic information solutions, with more than 25 years of experience in the field. Their customer base includes owners, contractors, designers and maintainers of various utility networks, both underground and on the ground. They serve more than 300 customers dealing with telecom networks, water service networks, electricity distribution, street lighting, district heating and natural gas.
At the time of the project, the Company was expanding internationally with the help of local business partners active in the ITC and Software development sector.
The Client requested FRD Center to help them find suitable local ITC firms in order to form a partnership and enter the Romanian market.
The Solution:
FRD Center is an evaluated consultant part of the Business Finland Expert Network. More details at https://expertsearch.businessfinland.fi/#/profile/JjXdeswP?companyName=FRD%20Center
Once we clarified with the Client the criteria for the Local Targets, the FRD Center consultants carried out a comprehensive market scanning and players analysis, in order to identify the Romanian software and IT companies that most resembled the ideal local partner criteria.
The Client received a report with the players brief profiles, expertise, technologies used etc. From this longlist, based on the details provided by FRD Center, the Client shortlisted a number of local players, to be contacted by FRD Center in the 2nd stage of the process.
FRD Center verified the shortlisted companies’ reputation and checked for any issues related to potential corruption cases or similar. As a next step, we have presented the Client’s portfolio, business model and expansion plans for Romania to the shortlisted local players, at Decision Maker level: Owner / GM / CEO and pursued them to obtain their feedback.
Those companies whose Decision Makers that expressed interest in a direct discussion with our Finnish Client have been profiled in detail and presented to the Client. Upon the Client’s approval, we arranged 1-2-1 e-meetings between the two parties and facilitated their direct contact.
The Client had three direct meetings out of which they have selected two candidates for the Partnership. After one month of discussions and negotiations, they signed off their Romanian Partner.
Quite satisfied with the FRD Center local consulting services and support, the Client required FRD Center to replicate the project in other markets in the SE Europe, to be decided by end of 2020.
More details about the FRD Center Market Entry Services are available at http://www.frdcenter.ro/services/market-entry-and-b2b-matchmaking-in-eastern-europe/
What are the opportunities on the Romanian BPO and SSC market? Why outsource software development in Romania? How to expand through acquisition of local players in the business processes outsourcing in Eastern Europe?
More details at this link: https://market-entry-romania.blogspot.com/2019/04/bpo-ssc-software-and-outsourcing-in.html
The Romanian software market is one of the most dynamic sectors in Europe, presenting numerous opportunities for foreign players interested to enter the region. FRD Center has developed strong relations at Decision Maker level in local companies as for the last 20 yreas has been assisting foreign companies and organisations contact the local relevant players. For more details regaring our B2B liaison support contact the FRD Center team at email: europa@frdcenter.ro
The modernisation of the key economic sectors in Romania, such as digitalisation, is expected to continue offering opportunities for providers in the IT sector in the healthcare, banking, oil, gas, energy and telecommunications sectors.
Turnover in the Romanian software and IT services sector has risen by 13.4% from 2014 to 2017 and is expected to grow to 15.3% over the next few years, according to a report by AVentures Capital, Aventis Capital and Capital Times. The rapid development of the sector is mainly driven by foreign investment. There are approximately 185,000 specialists employed in the IT&C sector in Romania. While wages increased by an average of 11.5%, they are still over 50% lower than those in Germany.
How to identify and select the best Business Partners in emerging markets in Europe such as Romania, Hungary, Bulgaria, Serbia, Poland, Lithuania, Ukraine etc.?
How to reach out to the Decision Makers in the Romanian software and IT sector and discuss a strategic partnership? Are you looking to acquire a relevant local player operating in the software solutions development field in Romania or Eastern Europe? Perhaps the FRD Center team can be of assistance to you. Contact us at email europa@frdcenter.ro
Recently, FRD Center assisted a Client operating in SE Europe to correctly identify, select and contact at Owner level local software companies according to their specific requirements.
Thanks to the FRD Center target origination services, our Client – a leading enterprise software vendor – was able to acquire a local player with a TO in excess of 3 mEUR in 2021 and thus expand in the region adding on to their already existing capabilities and expertise.
How to identify Targets for acquisition in Romania and approach their Owners / Decision Makers?
For over 20 years, FRD Center consultants assist the Foreign Buyers with Target Origination and Investment Project Sourcing in Romania and the region, regardless of the sector or industry.
More details at https://market-entry-romania.blogspot.com/2022/06/how-to-reach-out-to-decision-makers-in.html
This is the FRD Center “How to” Guide of Business Partners Search in Emerging Europe available at this link: https://market-entry-romania.blogspot.com/2020/01/the-frd-center-how-to-guide-of-business.html
How to find importer-distributors, clients, new vendors, service suppliers and how to approach them at Decision Maker level? Email FRD Center at europa@frdcenter.ro for more details.
