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Leading Lithuanian Tech Companies Display Crisis Immunity
Export development agency "Enterprise Lithuania" indicates that due to COVID-19 pandemic Lithuanian exports of services could shrink by 10 to 25 percent.
"In the first week of quarantine we initiated calls with all our clients - none were planning changes to previous orders. On the contrary, during the pandemic the importance of IT systems only grew in importance in their operations" - said CEO of technology company Agmis Saulius Kaukenas.
Service exports constitute approx. 80% of Agmis sales revenue. The main company export markets include USA, Germany, Switzerland, France and Republic of South Africa. According to Mr Kaukenas, although we are facing a global economic downturn, Agmis client geography and distribution among business verticals allows the company to minimize business risks.
"Even in the wake of a downturn we are looking for 10 new employees. Plus we are contracting extra specialists from other IT companies" - noted Mr Kaukenas.
Agmis is one of the founding members of ELIT technology cluster. During the crisis cluster serves as the backbone for cooperation and mutual support - member companies aid each other in business development, as well as share spare workforce capacities.
According to Mr Kaukenas, sound strategic decisions made in the wake of crisis will support the business in the long term. His opinion is shared by CEO of iTo - another founding member of ELIT cluster - Paulius Lazauskas.
"In iTo we have already undertaken critical scenario analysis and business contingency plans. Currently we are practicing 'business as usual' and are in close communication with our clients about their situation, their cash flow, orders and work scope" - said Mr Lazauskas.
iTo consults organizations on digital business transformation, develops and adapts mobile technology solutions. The company is one of the largest service providers in Lithuania in its sector.
As the crisis unfolds IT companies indicate a shift in technological business priorities. Among them - an increase in e-commerce platform development.
"For most retailers e-commerce was not the primary business channel. This changed in a fortnight, as e-commerce became the sole source to ensure business continuity" - said CEO of e-commerce platform development company Adeo Web Paulius Nagys. The company serves leading e-commerce retailers in Lithuania. Other company markets include USA, Nordic and Baltic countries.
Businesses are also struggling to adapt to remote working conditions.
"Many companies were faced with remote work in these shock conditions. However, the number of remote work places will only increase. It is essential to deploy future-proof tools for remote team communication and management of field-force employees" - adds Mr Kaukenas.
Learn more at http://www.agmis.lt