DocProcess appoints Costin Baicu as the new Group CFO
Bucharest, 27 May 2020 – DocProcess, a Romanian company developing digital solutions that help automate business processes in a partner ecosystem, has appointed Costin Baicu as the group’s first full-time chief financial officer. Costin Baicu’s financial management experience will support DocProcess’s European expansion and ambitious growth goals.
“Coming from another local entrepreneurial business, Costin understands very well the opportunities and challenges that fast-growing IT companies face. His strong financial background and experience in helping companies expand internationally will be valuable assets in the next stages of DocProcess’s development. Together with our partners at Morphosis Capital, we are excited to welcome him to the team” said Liviu Apolozan, founder and President of the Board of Directors at DocProcess.
Costin Baicu has over 20 years of experience, having served in senior finance and management consultant positions. Prior to joining DocProcess, Baicu served for 14 years as the Chief Financial Officer of a Romanian IT company TotalSoft SA and was on the management team until 2020. In that period, the turnover of TotalSoft grew from 5 million euro to over 22 million euro. Costin played an essential role in the acquisition of 100% of shares in TotalSoft by Logo Software Investment SA and the subsequent integration of the Romanian business into the structure of the Turkish group.
“DocProcess team developed state-of-the-art technology solutions, grew an impressive portfolio of clients, scale, and expanded abroad, becoming in the past years one of the most dynamic entrepreneurial companies in Romania. Joining DocProcess gives me an exciting opportunity to work with a highly committed and professional team and to contribute to the development of an ambitious international growth strategy” said Costin Baicu, new CFO at DocProcess.
In his new role, Costin Baicu will oversee all the markets of the activity of DocProcess. He will work directly with the Board of Directors and the DocProcess international executive team to implement the firm’s strategy to achieve business expansion and profitable growth.
The appointment of a CFO marks a new chapter for DocProcess, a Romanian entrepreneurial company. In April this year, DocProcess has inaugurated a new commercial office in France and appointed Christophe Lacaze, a CEO for France and VP of international expansion, accelerating its development plans.
In 2019 DocProcess had revenues of approximately 3,2 million euro. The target for 2020 is to reach 4 million euro turnover and to book sales of at least 1 million euro on the French market. By the end of this year, DocProcess expects to reach 75 employees, including 25 based in France. The company is currently recruiting for new positions for offices in Bucharest, Paris, and Grenoble, having already expanded its international team with four new employees in the last two weeks.
Costin Baicu holds a bachelor’s degree in finance from the Bucharest University of Economic Studies and is currently following Executive MBA program within the Maastricht School of Management.
DocProcess is a Romanian entrepreneurial company established in 2005 by Liviu Apolozan. DocProcess develops digital cloud-based solutions that streamline and automate procurement, sales, logistics, financial and accounting processes within business ecosystems of partners. Currently, DocProcess offers three core products to help companies eliminate paper and repetitive manual work: DocXchange (Purchase-2-Pay and Order-2-Cash automation platform), DxArchive (electronic archiving), and DxContract (electronic contract management).
DocProcess has over 3,500 large clients, including prominent local and international players such as Carrefour, Cora, Mondelez, Covalact and Albalact. The solutions developed by DocProcess are used by global companies in sectors ranging from retail and e-commerce to production, transport and logistics, Business Process Outsourcing, utilities, IT, pharma, insurance and banking. In 2019, DocProcess received its first round of financing from the Romanian private equity fund Morphosis Capital. The company has offices both in Romania (in Bucharest and Brasov) and in France (in Paris and Grenoble).