Founded in 1990, our company's predecessor specialized in developing custom software applications, and by the Millennium, the small business had grown to be a market leader. After going public in 2004, performing acquisitions and restructuring the organization, now FreeSoft is a public corporation with more than 310 employees, and its annual income exceeds HUF 8 billion.
The dynamism in the 1990s
Developing custom applications and migration tools, FreeSoft Ltd., then led by Vilmos Vaspál, formulated its still valid strategy during the unprecedented dynamic growth period of the technology industry: to assist its customers in achieving business success by providing complex IT services which are based on leading technologies, satisfy unique needs, and meet the highest quality expectations.
Our company implemented its projects on state-of-the-art UNIX, NT and VMS operating platforms, and Oracle and other relational database management systems. At the end of the decade, our developers built the Unified Governmental Document Management System (KIR), an electronic archival system which has been deployed by several governmental agencies since. In cooperation with Oracle Hungary, we developed a specialized, therefore more accessible and easier-to-deploy version of Oracle Financials, customized with parameters for Hungarian SMBs, known in the market as e-Start. During these years, our company started to build relationships with large hardware manufacturers such as HP or Sun Microsystems, and with smaller, specialized development and consulting companies, certified according to the standards of our quality management system.
FreeSoft Kft. built its customer base in the first decade of its history from the governmental sector and the financial community, and also enterprises and medium businesses from Hungary and abroad. Our company's goal is to build long-term business relationships with our supplier partners and customers, based on mutual trust and satisfaction; we still deliver our software solutions, now at a higher level of energy, to these segments. In doing so, we capitalize on our continuous ability to innovate, which opens up additional professional and business markets for us.
A multi-national software publisher headquartered in Budapest
Another result of the decade characterized by incessant growth was that in 2002, a remarkable shift took place in FreeSoft's customer base. While until the 2002 financial year most of our customers had come from the governmental sector, state-owned companies and financial institutions, in 2003, a significant amount of our revenues resulted from the commercial sector and foreign markets.
At this point in our dynamic growth, in 2003, our company transformed into FreeSoft Software Development and IT Services, Inc., and went public in 2004, as the only Hungarian medium-sized business in that year. The success of the subscription process resulted in our share capital raising to HUF 1.435 billion. In September 2004, the operative leadership was taken over by János Keresztesi, whose goal was to develop FreeSoft into a Budapest-headquartered multinational software publisher within three years.
In addition to our financial results, streamlining our portfolio in 2003 and a reorganization of the company also plays a key role in achieving this strategic goal. Our development efforts are primarily based on Java and Oracle technologies. Our company has been specializing in Oracle's advanced database technologies since its beginnings; our back-end (or backoffice) application development and deployment projects are based on these technologies. Front-end applications are developed on the Java platform, which is a key technology throughout the world; it enables us to provide the companies with the efficiency and portability which ensures the required performance, flexibility and security in the world characterized by the Internet and web-based interfaces. At the same time, we also rely on our experience with Microsoft's development environments, in accordance with the requirements of heterogeneous corporate systems, the popularity of Windows clients and our customers' needs. After having changed our corporate form, a restructuring took place in January 2005. The earlier organization, which had been based on topics and projects, was replaced with an organization of more than 310 employees, which is based on strong controlling, clear incentives, a transparent system of responsibilities, and uses an ISO 9001:2000 quality assurance system. Based on our existing and acquired competencies, we split our activities in seven new organizational units. While our newly-formed corporation reorganized its internal structure and processes, its management team was strengthened with professionals who had gathered experience with international companies. The next steps were to perform three acquisitions, to found two international subsidiaries, and to set up FreeSoft's seven divisions.
Custom Development - development and implementation of specific, custom-made software systems.
Migration - adaptation of software (databases and applications) to modern environments.
Document Management and Collaboration - development and implementation of custom made and packaged document management, knowledge management, portal and collaboration applications.
Business Intelligence - complex services for business needs in the areas of ERP, DSS and CRM, implementation, support, consultation.
Big Fish Internet - web and Internet-based development, services, graphical and creative design, consultation.
Business Mobility - design, development and implementation of mobile business applications.
Services - operation, support, outsourcing, ASP, hosting and other IT services.
Acquisitions and divisions
In January 2005, we obtained 100% ownership of web development expert Big Fish Internettechnológiai Kft., and signed an agreement on purchasing the shares of Mooltech Informatikai Szolgáltató Kft., which develops business applications based on mobile technologies. In March, we acquired 100% of Axis Kft.'s shares. FreeSoft Plc. acquired HUMANsoft Ltd. in October 2007, BankSoft Ltd. in April 2008. These acquisitions were determining consollidation steps on the Hungarian infoMtion technology market; our range of activities and our product portfolio has expanded, so we can deliver even more sophisticated and comprehensive, high-tech solutions to our customers.
A customer-oriented corporate culture
The significant growth of our development team, and the establishment of divisions and subsidiaries have resulted in the diversification and specialization of our activities. The knowledge accumulated during our dynamic growth in the first one and a half decades of our history required a new, well-structured and controlled form of collection, processing and maintenance. As a result, we document our experience and success in software development using advanced knowledge management, and capitalize on it in our recent projects.
This enables us to assess and understand our customers' needs in a complex way, and to address them at a high quality level. Our business relationships which date back many years demonstrate that our customer-oriented approach has resulted in satisfied customers, who rely on our services in the long term, showing their trust in our ability to innovate and our global aspirations.
At FreeSoft, efficient internal communications and employment information systems receive a key emphasis. Our human resource management efforts have enabled us to establish a unique corporate culture, which combines the friendly and familiar atmosphere of a small business with the result-oriented and performance-centered attitude of multinational companies - to provide the best of both worlds.