As CEO of Totvs since November 2018, Dennis Herszkowicz has led a move to diversify the company’s revenues. Totvs began focusing on new fronts, such as providing technologies for the financial sector, and agreed a deal with Itaú to create a 1-billion-reais (US$207.8 million) joint venture to operate in the sector, called Totvs Techfin. The executive also led mergers and acquisitions, the most significant of which was the purchase of digital marketing automation company RD Station for 1.86 billion reais (US$386.4 million). The company’s net revenue was 1 billion reais (US$207.8 million) in the first quarter of 2023, almost double that of the first three months of 2018 (518.9 million reais, or US$107.8 million), the year he took on the role of CEO. Consolidated quarterly net consolidated profit reached 99.5 million reais( US$20.6 million), up from 34.4 million reais (US$7.15 million) five years ago, an increase of 189%.
