Baltic Amadeus Plans an Expansion with New Digital Products2021 05 11
The developer of unique solutions, Baltic Amadeus, reported an income of nearly EUR 11 million in 2020; despite the pandemic, its sales remained stable. To continue its successful export operations, the company in planning to expand in the pan-Baltic region and invest in the development of new digital solutions.
“In 2020, we paid a lot of attention to the research and development of new products. After our employees brainstormed, we assessed and analysed more than 60 new ideas. Two of these – a mobile banking platform and a new unique B2B process management and transaction platform – are currently in the final phase of development, to be launched later this year. We also actively engaged in expanding our service portfolio and developing new business digitisation, architectural development and IT security audit services,” said Andžej Šuškevič, the company’s CEO.
According to the CEO, it pays to invest in new solutions, for this allows unique products to be designed that help resolve a variety of problems and make our daily living easier. For instance, the medical equipment assembly line software that Baltic Amadeus developed in 2020 is helping operators working on the production line: the operator is virtually being “led by the hand”, with information on the screen telling them what they need to do, when, and whether the task has been performed correctly. This solution received the Industry 4.0 Star award. “We will continue to invest in the development of cutting-edge artificial intelligence solutions for the global market. For instance, we will be launching a digitalised solution this year based on the principles of machine learning and artificial intelligence, which will help companies improve the time-demands and cost-efficiency of their procurement procedures and will boost the procurement economy,” revealed the Baltic Amadeus CEO Andžej Šuškevič.
The geography of the company’s business has expanded over the past year, with its export income growing by 10% to reach EUR 6.7 million. In the words of Andžej Šuškevič, Baltic Amadeus is planning an expansion in the pan-Baltic region this year: “We will focus on the Nordic markets; Sweden and Norway in particular. In addition, we wish to obtain a stronger foothold in our home market of the Baltic States. In association with our partners, we have already launched a number of successful digital projects in the sales sector where we intend to progress. In the face of the pandemic, business digitisation and e-channels are areas where the needs of businesses are experiencing the fastest growth, and we are in a position to offer both unique solutions and experience.”
In summarising the effects of the pandemic, Andžej Šuškevič highlighted the company’s stronger competency in managing human resources. “Even though we have been teleworking for the better part of a year, we have managed to establish effective measures to support our corporate culture, strengthen the mutual ties among employees, and even mirror the changes in the demands and challenges faced by our team. One of our most successful initiatives has been the emotional support line that we set up for our employees during the first lockdown. This investment in wellbeing may have cut into our net profit, but we have managed to ensure that our employees have remained loyal and are feeling positive,” said the CEO.
Baltic Amadeus works with major banking, e-commerce and energy companies, including Luminor, SEB, Ignitis, Eurovaistinė, Azeta, Girteka and DPD.
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