Ektaco AS develops fifth generation POS system based on novel technology, and develops and launches the new work time management solution. The products are distributed in Estonia and on a number of foreign markets. The goal is to boost sales on said foreign markets and enter two or more new markets. The company’s internal processes are further developed and new methods are introduced as part of the project.
Main goals of the second phase of the development programme:
1. Develop and achieve marketability of the fifth generation of the CompuCash POS system that has been Ektaco’s core product.
2. Develop the CompuAccess work time management system – Ektaco’s new major product – into a scalable solution that can be supplied to manufacturing businesses. Achieve substantial growth in the sales of CompuCash on foreign markets. Update Ektaco’s growth strategy by introducing even bigger growth ambitions and an operational programme for the next period. Constantly grow Ektaco’s revenue and earnings.
Expected results as at the end of 2020:
1. Ektaco’s fifth generation POS system has a total of 500 users in Estonia.
2. Ektaco’s work time management system is used by a total of 3,000 employees across the Estonian manufacturing industry.
3. Ektaco’s POS system is used at a total of 200 points of sale on foreign markets.
4. Ektaco’s growth strategy for 2020-2022, including the operational programme and financing plan, have been approved
5. Ektaco’s revenue in 2020 amounts to EUR 3.5 million and the profit margin is 12%.
The total cost of project is EUR 463,900 and the aid intensity is in line with the rates applicable to small businesses.