TmaxSoft sets W50 bil. sales projection this year

By Lee Min-hyung

TmaxSoft, the nation’s leading enterprise software provider, said Monday it will generate more than 50 billion won ($45 million) in sales this year, backed by growing popularity for its Tibero database management system.

The company said in a statement that Tibero has driven its sales for the first half of this year, with its sales up 78 percent from a year earlier. But the company did not unveil the exact value of its sales figures.

The company attributed the growth to higher-than-expected performance overseas in countries such as India, Thailand, Singapore and Brazil.

The company said Tibero’s stability and cost-effectiveness are the two major factors that have driven its growth.

According to TmaxSoft, growing numbers of companies ― both in public and private sectors ― are moving to adopt their database management systems from expensive overseas products to Tibero.

The companies include the Korean National Police Agency, Shinhan Bank and Hyundai Card.

TmaxSoft CEO Jang In-soo said: “Based on three key features ― software stability, cost-effectiveness and technological excellence ― we are going to aggressively push for gaining more market share.”

The TmaxSoft head also said it will continue to adopt various marketing policies to attract more customers. The company said its aggressive marketing strategy also played a central role in sales growth.

During the first half of the year, TmaxSoft had held a series of promotional events across the nation. The move reflects that increasing numbers of state-run organizations are relocating their headquarters into provincial cities ― including Daejeon, Daegu and Gwangju ― as part of the government’s bid to decentralize governing power to the provinces.

TmaxSoft’s marketing efforts were in line with government policy, winning favorable responses from regional customers, the company said.