A relatively low conductivity of PtSi is one of the impediments to its application as a contact material in semiconductor technology. In this paper we discuss a possible strategy to control the conductivity of PtSi by manipulating the density of states at the Fermi level through alloying. Using density functional theory, we demonstrate theoretically that alloying PtSi with Ti substantially increases the number of conducting electrons, and suggest possible ways to increase the Ti solubility limit. We identify a tertiary compound with the conducting electron concentration almost three times larger than that of bulk PtSi. We analyze the effect of Ti alloying on the work function of PtSi, and its Schottky barrier height to Si and we examine the effect of alloy scattering on PtSi conductivity.