Noventiq has reached an exciting chapter. The company remains on a stable growth path, driven by quality customer relationships and a systematic expansion of its service portfolio, with a strong focus on ensuring synergies between teams and regions. Zoltán Mészáros, Vice President of Central and Eastern Europe at Noventiq, gives an overview of the plans and directions for the future.

Noventiq has had a busy year. What characterized this past period?

The Noventiq Group continues to be on a strong growth path, also demonstrated in the achievements of the past period. In our FY23, the company continued to increase its turnover, reaching $1.6 billion. We closed the fourth quarter, which ended on March 31, with a record revenue of $480.7 million. This is proof of our unwavering commitment to innovation, quality and customer satisfaction.

In addition, Noventiq set itself the goal of becoming a NASDAQ-listed company. The NASDAQ index includes the most prominent technology companies, so we’re undoubtedly preparing for a significant step, and we’ve already set the stage for it. This move facilitates opening new funding sources, the wider utilization of M&A opportunities and the acceleration of our own technological developments which include our own IP on Artificial Intelligence Weaver AI. This AI solution allows us to bring enterprise-class generative AI to many industries, and has already been implemented in some projects including the one we did with a large central European bank, Raiffeisen Bank International.

Regarding the Central and Eastern European market, for which I’ve been responsible for five years, I think it’s important to emphasize that, in the recent period, we’ve laid the foundations for further growth. On the one hand, we’ve targeted new business segments, paying special attention to the needs of small and medium businesses. In the past, we typically focused on the enterprise segment, so this shift required a new business model and a more systematic approach on our part. Working actively with SMBs has been a very positive experience, and this is having an impact on a global scale.

On the other hand, our inorganic growth strategy and successful acquisitions have helped us to develop a very wide service portfolio in the region, and thus increasing our profit-generating ability. This is largely due to how we always integrate the experience and knowledge gained in connection with acquisitions into our services after careful planning. This ensures that we can provide our services at a consistent high level of quality in any market, and that we operate in a coordinated manner across the entire group of companies.

What other factors play a role in growth?

For a company, growth is inconceivable without constant attention to customer relationships. Customer trust is hard to gain, and even harder to keep. We continuously strive to ensure that our existing customers choose us over the years, whether it is to serve their new needs or to update existing services. Our strategy has clearly been successful so far, as not only have we been able to increase the number of new customers in recent years, but the vast majority of our existing customers also trust us, year after year. We understand, however, that this can only be achieved through teamwork, so business success is also the achievement of our colleagues. In summary, we provide high-quality service with the help of excellent professionals, and we are extremely customer-oriented. We always keep the interests of our customers in mind and, together with them, we create the most appropriate solution.

On what are Noventiq’s plans built?

We plan for the future with a strategy based on four pillars. The first pillar is growth in terms of geography. Under this, we determine the new areas we aim to reach, whether organically or inorganically. Thanks to a recent acquisition, for example, we’re already present in the Baltic States; we have expanded to Montenegro and Bosnia and Herzegovina, and we’ve set foot in Germany, too. This is all thanks to our constant monitoring of opportunities to enter different markets, and weighing up our options.

The second pillar of our strategy is portfolio and services expansion. This includes acquiring new capabilities in areas such as cybersecurity, software asset management, AI, and proprietary products, while we keep expanding our partner relationships as well. This also helps Noventiq’s teams to acquire a deeper knowledge of the services our vendors provide.

Third, we’re committed to expanding our sales channels. Whether it is offering new services to our existing customers, capabilities gained through acquired companies or strengthening our business in the SMB sector. As I have already mentioned, we are relentlessly exploring our growth opportunities.

Last but not least, we also constantly look at the quality of our team’s operations. As a knowledge-based company, what skills and abilities our colleagues have, what kind of leaders determine our future directions and how we ensure cooperation across teams are extremely important for us. That’s why we pay great attention to finding and retaining talent; we take seriously the role of continuing education and constant motivation, in order to build well-thought-out, long-term career paths for our colleagues. It is thanks to these four pillars that we continue to create value every day for our customers, partners, shareholders, and employees.

Photo: Enterprise