With funding from the European Union under the EU4Business Initiative, the European Bank for Reconstruction and Development helped ScienceSoft, a software producer from Belarus, to diversify its client base and to expand business through a merger, increasing turnover by 65% in one year.
The EBRD helped ScienceSoft to almost double in size and to diversify its client base, as well as to overhaul the management team, to improve planning, and to enter new markets.
Founded in 1989 as an innovation management software company, ScienceSoft launched an IT service arm in 2003, with a focus on customer software development and IT outsourcing. In the competitive IT industry, ScienceSoft were looking to diversify their offer and increase work abroad.
The EBRD connected them with Gerry Cahill, an adviser from Ireland with over 20 years of experience in IT and telecommunications. He worked closely with the company to help them define a strategy for increasing sales in Western European markets and move up the value chain into more complex projects.
During the project, ScienceSoft merged with Tieto in the largest M&A transaction in Belarus in 2012. The adviser helped strengthen the marketing department and integrate the newly acquired company into the organisation.
The management organisation was also restructured to embrace the ScienceSoft management style (i.e. New Managing Director, VP Technology and Sales Manager appointed) substantially improving the management structure of the expanded company.
Additionally, the adviser:
- Significantly enhanced Enterprise Resource Planning (ERP) Operations (i.e. matching demand planning between Sales and Technology functions);
- Enhanced marketing strategy (e.g. Belarus-based Marketing manager hired);
- Account Management function restructured
ScienceSoft established new business intelligence models, launched a fully operational marketing department headed by the marketing director, and introduced new sales channels. As a result the number of leads increased three times as compared to previous years.
The company introduced client managers for their largest customers, such as IBM and Viber, in order to improve efficiency of servicing them. Moreover, the client base was diversified in order to reduce business dependence from large clients. They have explored opportunities of entering new markets, opening a front-office in the US. This helped to diversify clients geographically.
Incentive schemes were introduced and the sales department strengthened. As a result, ScienceSoft has seen increased turnover, increased exports and a 300% increase in leads on new orders.
Total project value