ScienceSoft stands tall through the storms of 2014

Published: Mar 30, 2015

Moving towards the close of Q1 2015, ScienceSoft's family gathered for the annual meeting and used this moment to look back at the ups and downs of the previous year. Amidst the economic turmoil and feverish currency rates, we still have shown a steady growth thanks to our professional united team and loyal clients. We are happy to share with you our most prominent highlights from 2014 and a vision for the future:

Growth

Despite the economic turbulence we managed to reach our target revenue growth of ~15%, totaling $11.5 mln. But what really matters are the projects and people behind these numbers.

While remaining stable in quantity, our team was tirelessly flexing its professional muscles in quality: we entered 2015 with more certified specialists than ever and a growth in ratio of middle and senior software and testing engineers.

Awards

In 2014 our applications and performance entered tough competitions
and were marked by two prestigious awards:

ScienceSoft’s CEO Nick Kurayev became the Winner of 2014 Ernst&Young “Entrepreneur of the Year” in the national nomination “Fastest Growing Business”.

Clients

Throughout the past year we launched and delivered projects with 121 Customers in
29 countries worldwide and we are proud to say that 76% of our business was done with Customers who we serve for more than 1 year. This is the best hallmark of trust and reliability that we strive for.

Work

Last year we enriched our portfolio with new offerings in
Penetration Testing, Identity and Access Management solutions.

With the fastest growing technical direction being Content Management we entered
a strategic partnership with the leader in Enterprise Information Management
OpenText and gained expertise with their groundbreaking technology StreamServe.

We persevered in developing our specialized services for in Business Intelligence
and Security Information and Event Management (SIEM) for banking.

Geography

The fastest growing region for us last year was North America and we were glad to battle through time zones to bring to life the ideas of our Clients from the USA and Canada (+62% growth in the region).

We believe that a handshake is more powerful than an email: we welcomed Clients in our development offices in Europe and have plans to go local in the US by opening two offices there (Texas and the North-Eastern region) in 2015 H1.

The emerging market which came out of shade last year turned out to be Azerbaijan with several challenging projects underway.

In 2014 it took us a lot of preparation work and pilot projects to make the launch of our development center in Vietnam possible early in 2015, which will bring more saving for our Clients.

New horizons

With the target organic growth set high this year, we are no longer
looking forward, but already putting to practice our vision of 2015
which is best summed up in the motto “Sell value, not hours”.

This year we are also planning to further grow our operations in Vietnam
from 5 to 20-30 full-time employees and to extend delivering capabilities.

A big proportion in our budget will be invested into Custom Software Development
and IT Consulting resulting in more favorable conditions to end-users.