Q: The economic landscape is presenting various challenges globally. How is Noventiq navigating these challenges in the CEE region, specifically in Romania, and what business opportunities do you see in this context?
Mr. Marius Filipas: In the face of global economic challenges, the IT industry stands at the forefront, tackling issues such as the persistent COVID-19 pandemic, geopolitical tensions, and the surging demand for digital transformation. For Noventiq in the CEE region, Romania included, addressing these challenges requires a proactive approach, focusing on innovation and ensuring agility.
In Romania and throughout the region, Noventiq is proactively navigating these challenges by promoting cutting-edge technologies and novel business models to maintain our competitiveness and adaptability. We're achieving this by capitalizing on cloud computing, artificial intelligence, and other emerging technologies to design innovative solutions tailored to meet the ever-evolving needs of businesses.
Our commitment extends to investing in our workforce and equipping our employees with opportunities for training and development. This empowers them to acquire new skills and remain updated with the latest industry trends and technologies. We've sharpened our industry-specific focus to better understand vertical trends and deliver custom solutions to our customers, encompassing services, hardware, software, and dedicated solutions.
Amid these challenges, we identify numerous business opportunities in Romania. For instance, we're poised to assist businesses in the country in developing bespoke software solutions crafted to their precise needs. Additionally, our expertise in cloud migration allows businesses to streamline operations, reducing costs and enhancing overall efficiency. We're also at the forefront of helping companies harness emerging technologies like artificial intelligence and machine learning, enabling them to glean insights from their operations and make data-driven decisions.
In essence, Noventiq, both in Romania and across Europe, is strategically positioned to confront economic challenges by harnessing emerging technologies and delivering innovative solutions to meet the evolving demands of businesses.
Q: Cost optimization through digital transformation is a key focus in response to inflation and rising energy prices. Could you elaborate on specific areas where businesses can optimize costs through IT solutions and how Noventiq contributes to this transformation?
Mr. Marius Filipas: Cost optimization through digital transformation is a vital strategy in the face of inflation and soaring energy prices. IT solutions serve as powerful tools for businesses to realize cost efficiencies across several key areas.
At Noventiq, we specialize in assisting organizations in their transformation towards efficient and secure digital operations in today's increasingly digital economy. We offer a diverse array of digital transformation solutions aimed at empowering businesses to optimize their costs:
Custom Software Development: Our custom software development services enable businesses to design and deploy tailor-made applications, leveraging a global talent pool and deep industry expertise to address their specific needs.
Cloud Computing: Migrating IT infrastructure to the cloud represents another transformational avenue. By doing so, businesses can trim hardware and maintenance costs, enhance scalability, and achieve operational flexibility. Cloud computing also plays a role in reducing energy consumption by allowing resources to be utilized as needed.
Automation: Businesses can drastically reduce labor costs and improve efficiency by automating their core processes. This not only streamlines operations but also minimizes errors and enhances overall accuracy.
Data Analytics: Leveraging data analytics tools, businesses can gain valuable insights into their operations, uncover inefficiencies in their supply chain or production processes, and identify areas for cost optimization.
Cybersecurity: Investing in robust cybersecurity solutions is paramount. It protects businesses from cyber threats, which could lead to costly data breaches or downtime.
Remote Work Solutions: Implementing remote work solutions is another cost-saving measure. It enables businesses to reduce expenses related to office space, utilities, and other overhead costs.
Noventiq plays a pivotal role in this transformation by providing businesses with the technical expertise and support required to implement these solutions. We facilitate the migration of IT infrastructure to the cloud, develop tailored automation solutions, deploy data analytics tools, and offer guidance on cybersecurity best practices.
By partnering with Noventiq, businesses in Romania can harness the power of digital transformation to optimize costs and gain a competitive edge in the market.
Cybersecurity is a growing concern for businesses. How is Noventiq helping clients address cybersecurity challenges, and what specific strategies do you employ in collaboration with your clients to ensure optimal solutions?
Mr. Marius Filipas: In an era marked by escalating cybersecurity threats, Noventiq is steadfast in its commitment to fortify our clients' security posture. Our industry-leading security services are designed to bolster even the most complex digital environments. With a robust arsenal of tools, unrivalled expertise, and a talented team, Noventiq is uniquely positioned to safeguard our clients against evolving cybersecurity challenges.
The escalating prominence of cybersecurity issues necessitates concerted efforts by IT companies to guide their clients in effectively mitigating these challenges. Empowering clients with the technical proficiency required to deploy robust cybersecurity solutions is imperative. At Noventiq, our approach to addressing cybersecurity concerns involves a comprehensive array of strategies:
Risk Assessment: We commence by conducting thorough risk assessments to identify potential vulnerabilities and threats lurking within a client's IT infrastructure.
Security Audits: Regular security audits are integral to our methodology, ensuring that our client's IT setups adhere to prevailing security standards while being fortified against potential threats.
Employee Training: Recognizing that a chain is only as strong as its weakest link, we invest in the training and development of our clients' employees. This equips them with the latest cybersecurity best practices, keeping them ahead of emerging threats.
Incident Response: In our readiness to combat potential cyber threats, we work with clients to establish robust incident response plans, facilitating swift and effective countermeasures in the event of an intrusion.
Our collaborations with clients are marked by meticulous attention to detail to ensure optimal cybersecurity solutions. This involves:
Customization: We develop tailored cybersecurity solutions meticulously aligned with a client's specific needs and requirements, as we recognize that no one-size-fits-all approach suffices.
Compliance: In tandem with clients, we ascertain that they are compliant with all relevant regulations and industry standards.
Continuous Improvement: The cybersecurity landscape is dynamic. We engage with our clients continuously, identifying areas of improvement and orchestrating the adoption of new technologies and best practices to bolster their security posture.
Ultimately, Noventiq and our clients stand as a formidable bulwark against cybersecurity threats. Our deep technical expertise and systematic strategies converge to ensure the deployment of optimal solutions in a world increasingly challenged by evolving cyber risks.
Hardware deliveries are under high pressure globally. How is Noventiq assisting organizations in identifying ideal hardware choices and overcoming challenges related to hardware availability, especially when projects involve EU funds?
Mr. Marius Filipas: In the dynamic landscape where global hardware deliveries face mounting pressures, Noventiq takes a proactive approach as an IT integrator, playing a pivotal role in assisting organizations in navigating the challenges linked to hardware availability. This task becomes even more critical, especially concerning projects that are intertwined with EU funds.
At Noventiq, we pride ourselves on being a steadfast partner for organizations seeking ideal hardware solutions. Our expertise extends to developing scalable Data Centers within hybrid environments, making us a trusted partner for top hardware producers such as Dell, Fujitsu, and HP Inc.
Our approach centers on collaboration with our key partners in addressing the challenges related to hardware. Our hardware partners bring with them an array of essential attributes that ensure the right hardware choices:
Business and Market Insight: Our partners are well-versed in the business and market dynamics. This knowledge allows them to tailor hardware choices to meet specific business needs, industry demands, and project requirements.
Industry Expertise: Our partners bring industry-specific expertise to the table. This specialization ensures that hardware choices align with the unique requirements and regulations that govern specific sectors.
Cultural Alignment: Understanding the culture of an organization is paramount. Our partners are open-minded to embrace and align with the distinct culture of each company they collaborate with, enabling a seamless integration of hardware solutions.
Business Needs: Our partners delve deep into understanding the business needs of the organizations they work with. This comprehensive understanding is pivotal in proposing and implementing hardware choices that cater to the unique demands of each project.
Noventiq, in collaboration with our network of proficient partners, guides organizations through the complex terrain of hardware availability. Together, we assist organizations in identifying the most suitable hardware choices that align seamlessly with their unique project requirements, especially when these projects are linked to EU funds. Through this partnership, we ensure that projects continue without disruption, even in the face of global challenges affecting hardware deliveries.
Given the current economic situation, how has the pandemic affected the pace of digital transformation for Romanian companies, and what are the critical risks associated with a potential slowdown?
Mr. Marius Filipas: The COVID-19 pandemic has left a profound impact on the pace of digital transformation within Romanian companies. This unprecedented global event accelerated the need for organizations to embrace digital technologies and swiftly adapt to new ways of doing business. While the pandemic brought forth various opportunities for digital transformation, it also brought forth specific risks associated with any potential slowdown in this process.
The critical risks tied to a potential slowdown in digital transformation include:
Loss of Competitive Advantage: Companies that fail to keep pace with digital transformation initiatives risk losing their competitive edge. In today's rapidly evolving landscape, businesses that remain digitally stagnant may find themselves outperformed by more technologically advanced competitors.
Decreased Efficiency: Digital transformation plays a pivotal role in streamlining operations and enhancing efficiency. A slowdown in these initiatives could lead to decreased efficiency and increased operational costs.
Decreased Innovation: Digital transformation is a catalyst for innovation, enabling companies to develop new products and services. A slowdown in digital transformation efforts might result in decreased innovation and a dearth of new offerings, thereby stifling growth and adaptability.
Decreased Resilience: The COVID-19 pandemic underscored the importance of resilience for businesses. Digital transformation empowers organizations to bolster their resilience by enabling remote work, refining supply chain management, and enhancing customer engagement. A slowdown in these efforts could diminish resilience and render companies more vulnerable to future disruptions.
In this context, it is of paramount importance for Romanian companies to maintain their investments in digital transformation despite the multifaceted challenges brought forth by the pandemic. Continuing to embrace digital transformation will equip these organizations to remain competitive, efficient, innovative, and resilient in an increasingly digital world.
Ultimately, the pandemic has reinforced the notion that digital transformation is not merely an option but a necessity for businesses to thrive in the evolving economic landscape.
You are indeed well aware of the importance of a clear digital transformation strategy. How can Noventiq support businesses in creating and implementing effective digital transformation strategies?
Mr. Marius Filipas: Indeed, a well-defined digital transformation strategy is of paramount importance for businesses seeking to thrive in today's dynamic market. Noventiq, as an IT Integrator, stands ready to provide robust support to enterprises in crafting and executing effective digital transformation strategies.
Our approach involves the following strategic steps:
Comprehensive Business Assessment: Our journey commences with a thorough assessment of your current business landscape. This evaluation encompasses an in-depth analysis of your technology infrastructure, workflows, and processes. By understanding your organization's existing state, we identify areas ripe for enhancement and establish a performance baseline for future measurements.
Definition of the Desired Future State: We collaborate closely with your team to clearly outline your envisioned future state. This stage involves the articulation of specific goals, objectives, and key performance indicators (KPIs) that will serve as benchmarks for measuring success.
Development of a Transformation Roadmap: Building upon the insights from the current state assessment and future state definition, we craft a comprehensive transformation roadmap. This blueprint delineates the precise steps and activities required to bridge the gap between your existing and desired states. It incorporates timelines, milestones, and resource allocations, ensuring a clear path forward.
Technology Selection and Alignment: Noventiq aids in the selection of technology solutions that harmonize with your strategic goals and objectives. We meticulously evaluate your current systems while identifying new technologies that align with your digital transformation vision.
Implementation and Integration of Technologies: Our expertise extends to the seamless implementation and integration of these selected technologies within your existing infrastructure. This includes system configuration, data migration, and employee training, ensuring a smooth and efficient transition.
Ongoing Performance Monitoring and Optimization: Noventiq undertakes the vital role of continuously monitoring the performance of newly implemented systems and processes. This ongoing assessment ensures alignment with established KPIs and offers early identification of areas for optimization and adjustment.
By diligently following these steps, Noventiq empowers businesses to create and enact digital transformation strategies that fuel growth and triumph. Our commitment lies in providing tailored solutions that enable your organization to thrive in a rapidly evolving digital landscape.
In sum, our role is to be a strategic partner, guiding companies toward a digitally transformed future, enhancing competitiveness and fostering innovation and success.
For enterprises with slower adoption of technology, how does Noventiq address the challenges related to lengthy decision-making processes and encourage the adoption of technology?
Mr. Marius Filipas: System Integrators in the IT domain often encounter challenges when working with enterprises that exhibit a slower pace of technology adoption. Among these challenges, one of the primary obstacles is the protracted decision-making processes. To address this specific issue and catalyze technology adoption, Noventiq implements a structured approach:
Identifying the Root Cause of Delay: The initial step involves a thorough examination to uncover the root cause of the delay in decision-making. This could arise from several factors, such as a lack of understanding regarding the technology's potential, resource constraints, or other contributing elements.
Educating Decision-Makers: Once the underlying cause has been identified, Noventiq embarks on an educational campaign aimed at decision-makers. This outreach is designed to elucidate the myriad benefits inherent in the adoption of new technology. By comprehending how technology can enhance operational processes and elevate efficiency, decision-makers are more likely to be motivated to proceed.
Providing a Clear Roadmap: Clarity is essential in fostering technology adoption. Noventiq proffers a well-defined roadmap that charts the course for adopting new technology. This roadmap delineates the necessary steps to be taken, along with their respective timelines. It offers decision-makers a tangible and comprehensible framework.
Offering Training and Support: A pivotal element in mitigating resistance to change and promoting technology adoption is the provision of training and support. Noventiq facilitates training programs to equip employees with the necessary skills and knowledge to comfortably navigate new technology. This initiative helps to alleviate concerns and empowers the workforce to embrace change with confidence.
Collaboration with Stakeholders: Lastly, Noventiq actively engage with all relevant stakeholders, fostering a spirit of collaboration and alignment in the technology adoption process. This ensures that all parties are united in pursuing a common goal and encourages a more cohesive, concerted effort.
In essence, our role at Noventiq encompasses not only the introduction of advanced technology but also the orchestration of a well-crafted strategy to guide enterprises with slower adoption through the entire process. By addressing the challenges of protracted decision-making and instilling a deep appreciation for the benefits of technology adoption, we aim to expedite the journey toward a more digitally-enabled future, enabling businesses to remain competitive and innovative.
Through these strategic measures, we facilitate the harmonious integration of technology into an enterprise's operations, even when faced with the challenges of a slower adoption curve.
Leveraging EU funds for digital transformation is highlighted. Could you provide examples of how Noventiq supports businesses in utilizing these funds efficiently, and what advantages does this present for companies in Romania?
Mr. Marius Filipas: Leveraging EU funds for digital transformation stands as a pivotal driver in modernizing businesses within Romania. Noventiq plays a crucial role in supporting companies on this journey by delivering customized digital transformation solutions that seamlessly align with the requirements of EU funding programs. This strategic approach ensures that companies can effectively and efficiently harness these funds to revamp their operations, elevate their competitive edge, and pave the way for sustainable growth.
The advantages for companies in Romania are multifaceted and far-reaching. By partnering with Noventiq to make the most of EU funds, businesses can expect:
Improved Efficiency: Our expertise lies in integrating solutions for specific verticals from various Independent Software Vendors (ISVs). This tailored approach streamlines operations and enhances efficiency, allowing businesses to achieve more with less.
Enhanced Competitiveness: Through our turnkey solutions, we simplify the process of solution design and implementation. This not only accelerates digital transformation but also empowers companies to stay ahead of the curve and remain competitive in today's rapidly evolving business landscape.
Global Market Position: As businesses in Romania efficiently utilize EU funds to embrace digital transformation, they find themselves in a stronger position within the global market. This shift to more innovative and technology-driven processes helps them expand their reach, tap into new markets, and contribute to economic growth and innovation.
Noventiq, in its commitment to driving digital transformation, empowers companies to unlock the full potential of EU funds. By offering tailored solutions that align with funding requirements and integrating solutions from various ISVs, we provide a seamless path for companies to embrace digital change. This, in turn, leads to a myriad of benefits, including enhanced efficiency, increased competitiveness, and a more prominent role on the global stage – ultimately fostering economic growth and innovation within Romania.
As a company operating in almost 60 countries, how does Noventiq bring global expertise to benefit Romanian companies in their digital transformation journey, and what local outcomes have resulted from this global knowledge transfer?
Mr. Marius Filipas: Noventiq operates in nearly 60 countries, and our extensive global footprint allows us to bring invaluable global expertise to benefit Romanian companies throughout their digital transformation journeys. We understand the importance of combining this global knowledge with a localized approach, tailoring solutions to address the unique needs of businesses in Romania.
This dynamic approach offers several key advantages to our local partners:
Customized Strategies: We leverage our global knowledge to create customized strategies that are specifically designed to address the requirements and objectives of Romanian businesses. This ensures that the digital transformation journey is aligned with the local market's intricacies.
Operational Efficiency: Through this global-local synergy, we help Romanian companies enhance their operational efficiency. Our expertise drawn from various markets enables businesses to streamline their processes and adapt to global best practices, making them more efficient and competitive.
Access to Cutting-Edge Technologies: Romanian companies benefit from access to cutting-edge technologies and innovative solutions, thanks to our global knowledge transfer. This ensures that they stay at the forefront of technology trends, fostering innovation and preparing them for the future.
The local outcomes of this collaboration are substantial. Romanian companies can experience improved efficiency, increased competitiveness, and access to advanced technologies, all of which drive growth, foster innovation, and support market expansion. At Noventiq, we're dedicated to bringing global knowledge to our local customers to facilitate their digital transformation journeys and help them thrive in the rapidly evolving business landscape.
Which economic sectors in Romania do you believe can benefit the most from Noventiq solutions, and what specific expertise does Noventiq offer in sectors such as FinTech, healthcare, manufacturing, and retail?
Mr. Marius Filipas: Noventiq's solutions offer substantial benefits to a variety of economic sectors in Romania, with a notable focus on FinTech, healthcare, manufacturing, and retail. We bring specialized expertise to each of these sectors, catering to their unique needs:
FinTech: In the FinTech sector, we provide expertise in delivering secure, compliant, and efficient digital financial services. Our solutions support businesses in ensuring the integrity of financial transactions and data security while complying with regulatory requirements.
Healthcare: Noventiq offers robust expertise in the healthcare sector. We provide solutions for comprehensive data management, cybersecurity, and telehealth capabilities. These solutions contribute to the efficient and secure management of patient data, supporting healthcare institutions in delivering high-quality care. We've organized and participated in 5 dedicated in-person and online events, reaching out to over 200 Romanian medical institutions. These events involved solutions from 10 different Independent Software Vendors (ISVs).
Manufacturing: For the manufacturing sector, Noventiq is dedicated to supporting Industry 4.0 initiatives. We optimize operations with solutions involving the Internet of Things (IoT) and automation. Our expertise enhances manufacturing processes, drives efficiency, and helps businesses stay competitive. We've organized and participated in 4 dedicated in-person and online events, connecting with over 300 Romanian manufacturing companies. These events involved solutions from 3 different ISVs.
In the Education sector, we've organized and participated in 10 in-person and online events, communicating our solutions to over 100 universities and over 500 K-12 institutions. These events involved solutions from 5 different ISVs.
Our goal is to continually provide value and stay relevant for our customers. We adapt our expertise and solutions to the ever-evolving needs of these sectors, promoting growth, efficiency, and innovation within Romanian businesses.
What specific opportunities do you foresee for companies and institutions in Romania in 2023, and how can organizations leverage these opportunities for digitalization adoption in the coming years?
Mr. Marius Filipas: In 2023, there are significant opportunities for companies and institutions in Romania to advance their digitalization efforts. These opportunities include:
EU Funds: The availability of EU funds for digitalization projects presents a substantial opportunity. Romanian organizations can leverage these funds to invest in digital transformation initiatives, such as upgrading IT infrastructure, implementing advanced technologies, and enhancing cybersecurity.
Emerging Technologies: The rapid development of emerging technologies like artificial intelligence, cloud computing, and the Internet of Things provides a unique chance for Romanian companies to innovate. They can harness these technologies to improve processes, offer new products and services, and gain a competitive edge.
Cybersecurity: With the growing concern for cybersecurity, there's a considerable opportunity for organizations to strengthen their defenses. Noventiq offers expertise in cybersecurity solutions that can help Romanian companies protect their digital assets, customer data, and overall operations.
Remote Work: The adoption of remote work is likely to persist. Companies can use this as an opportunity to redesign their work models, providing flexibility to employees and potentially reducing overhead costs by optimizing office space.
Data-Driven Decision-Making: Organizations can benefit from data analytics and insights to make informed decisions. Noventiq's solutions can assist companies in collecting, processing, and interpreting data to enhance their operations and customer experiences.
To leverage these opportunities effectively, organizations should collaborate with partners like Noventiq, which has a global perspective on digital transformation and can tailor solutions to the specific needs of Romanian companies. This collaboration will enable them to navigate the dynamic digital landscape, stay competitive, and foster innovation in the years ahead.
How does Noventiq approach talent development and leadership strategies to ensure a robust and adaptable workforce? Moreover, how do these initiatives align with broader industry trends and contribute to the company's resilience and competitiveness in the market?
Mr. Marius Filipas: Noventiq places a strong emphasis on talent development and leadership strategies to cultivate a robust and adaptable workforce. These initiatives align with broader industry trends and significantly contribute to the company's resilience and competitiveness in the market:
Training and Development: Noventiq invests in training and development programs to equip its employees with the latest skills and knowledge. This approach aligns with industry trends where continuous learning is essential in the rapidly evolving technology landscape.
Global Expertise: Noventiq operates in almost 60 countries, and its talent development and leadership strategies leverage this global reach. The company's employees gain exposure to diverse markets and practices, enhancing their adaptability and cross-cultural competence.
Industry Specialization: Noventiq offers specialized solutions in various industries, including FinTech, healthcare, manufacturing, and retail. Its talent development strategies align with industry-specific trends, ensuring that employees have deep expertise in the sectors they serve.
Leadership Nurturing: Noventiq fosters leadership within the organization. These leadership initiatives align with industry trends promoting innovation and agile decision-making. They contribute to the company's resilience by ensuring that leaders can adapt to rapidly changing market dynamics.
Adaptability: Noventiq's focus on talent development and leadership equips employees with the skills to adapt to new technologies and market shifts. This adaptability is a vital component of the company's competitiveness.
In summary, Noventiq's talent development and leadership strategies are forward-looking and align with industry trends. They equip employees with the skills and expertise necessary for success in the ever-changing digital landscape. These initiatives make a substantial contribution to the company's resilience and competitiveness in the market, ensuring that it remains at the forefront of digital transformation services.
In the short and medium term, what is your main message to clients and partners regarding the challenges and opportunities associated with digital transformation, and what role does choosing the right partner play in this process?
Mr. Marius Filipas: In both the short and medium term, our primary message to clients and partners revolves around the challenges and opportunities linked to digital transformation. We emphasize that:
Challenges:
Rapid Technological Change: The pace of digital transformation is accelerating. Staying current with these changes can be daunting, and we understand the challenges that accompany it.
Security Concerns: With the increased digital footprint comes heightened security risks. Safeguarding your digital assets is paramount, and we're here to assist in this critical aspect.
Resource Constraints: Many organizations, especially in the wake of recent economic challenges, face resource constraints. Navigating the digital transformation journey efficiently and cost-effectively is a priority.
Opportunities:
Enhanced Efficiency: Digital transformation, when executed thoughtfully, can significantly enhance operational efficiency. We underscore the potential for streamlined processes, cost savings, and improved customer experiences.
Innovation: This is a time of unprecedented innovation. Businesses that leverage digital technologies have the chance to innovate, creating new products, services, and business models.
Global Reach: With the digital landscape transcending borders, the opportunity to expand globally is more feasible than ever. We highlight the potential for international growth and market diversification.
The Role of Choosing the Right Partner:
Choosing the right partner is pivotal in this journey. Noventiq, with our global expertise, local outcomes, and a proven track record of facilitating digital transformation, can be a strategic ally. Our role as the right partner includes:
Guidance: We provide expert guidance, ensuring clients and partners make informed choices amid the digital transformation complexities.
Customized Solutions: Our approach is never one-size-fits-all. We tailor solutions to suit specific business needs, enabling clients to maximize opportunities while addressing challenges.
Risk Mitigation: As challenges and opportunities evolve, Noventiq assists in mitigating risks, particularly in areas like cybersecurity and compliance.
Long-term Vision: We advocate for a long-term vision of digital transformation. Our partnership extends beyond immediate needs, positioning clients and partners for sustained success.
In summary, our message underscores the transformative potential of digital technologies while acknowledging the challenges. We emphasize the critical role of choosing the right partner, and we position Noventiq as the ideal ally in this dynamic landscape. Together, we can navigate these challenges and harness the vast opportunities of digital transformation.
You can also find the full interview in the document below:
