Egzakta offers a wide range of services encompassing Go-to-Market strategy, IT strategy, and digital transformation. What are the most common problems you need to address?
Egzakta was founded as a high-quality management consulting company with a broad spectrum of expertise and services for clients from various industries. The market has recognized management consulting as a powerful partner for future stability and growth. Southeastern Europe has been developing in the field of consulting for years. The market has reached the maturity needed to recognize the benefits of consulting. In recent years, we have worked on various projects, from procurement and product costs to Go-to-Market and growth strategies. However, nearly all our projects are either related to or encompassing IT and digital components.
Additionally, clients buying consulting services are still looking for recommendations, plans, or advice on how things should be done. There is a clear need for consulting to go hand-in-hand with solutions and implementation. For example, if we work on improving processes, the task is not completed solely by designing a map of the proposed method. We must go further in establishing those processes, designing and implementing software solutions for the digital environment (internal and customer-facing), and introducing these processes into pilot or full-scale implementation for the client.
Have you noticed changes in your client's needs after the Covid-19 pandemic?
The fact is that the pandemic has changed everything, both in our private and business environments. The focus of our clients has shifted to organization, digital efficiency, and processes, as well as IT systems connected to the new reality of remote work, social distancing, and lockdown measures across Europe. Any business that wanted to survive had to change its way of operating thoroughly; that was the main problem we tried to solve. We had several IT and digital projects accompanied by process improvement, changes, and the implementation of digital business models. On the other hand, many of our clients used this opportunity to optimize their organization and improve efficiency. Future perspectives and assessments of options were also very present, and although we believed that we would only work a little on strategy with our clients, we had many strategy projects in 2021.
Egzakta has two lines of business - management consulting and financial consulting. In which direction do you see the company's business developing in the future, and where will your focus be?
We started with financial consulting a few years ago and are keeping that line of business in response to our client's needs. However, we see further growth in management consulting and business solutions as a clear path to the future. Our growth has shown us that we are on the right track. We are the fastest-growing consulting company in the region. Our portfolio of projects, clients, and compact team allows us to compete against global giants in the market. Besides the methodologies and practices of big names, we bring local flavour and local knowledge, which has proven to be the best combination for our clients. We don't pretend to be as large as our global competitors operating in the Southeastern European market. Still, we can undoubtedly offer as much as they can, even more in our region. Specializing in management consulting related to IT and the digital field, we can provide a wide range of services that generate stable growth. Building our team has been vital in recent years. Now we see that this investment has brought us triple-digit growth in the last three years. Southeastern Europe is our playground, but we plan expansions to new markets, exploring neighbouring countries in Central and Eastern Europe and the Middle East, Russia, China, and other emerging markets. The stable foundation we need to build allows us to grow even beyond Southeastern Europe.
The supply chain has been significantly disrupted due to the Covid-19 pandemic. How do you see its impact on the economy of Southeastern Europe?
Many indicators show that transport prices have significantly increased in the past year, with multiples of x2 or even x3. We are also witnessing a sharp rise in raw materials prices such as aluminium, copper, iron, wood, and wood products. These changes also affect prices in the construction sector and other sectors. This change can no longer be considered minor but a turning point, especially for small economies like those in Southeastern Europe. This is the price we all pay for globalization, the relocation of production to the East, and the general neglect of our local economies. The localisation of the economy is the answer to what needs to be done. Most of these products that are now difficult to import, transport, or afford were once produced in our country or region. Local, smaller players with proper financing approaches can replace prominent players in local markets. Competitiveness is no longer a question, as supply chain disruptions have increased prices and caused severe shortages of certain products and materials. Digitization and the startup community can be pillars of local growth. Still, governments in Southeastern Europe need to quickly recognize this opportunity and shift their support logic from globalization, foreign direct investment, and support for foreign investors to supporting local companies and startups and investing in regional cooperation.
How do you support market participants in Southeastern Europe's merger and acquisition (M&A) process?
Before the COVID-19 pandemic, significant private equity funds and leading players in mergers and acquisitions (M&A) were less active globally. When the crisis related to the pandemic began, activity in this area significantly increased. The same situation occurred in Southeastern Europe. It was expected because funds had a lot of capital to invest, but market prices were relatively high, so everyone was waiting for better opportunities. Every crisis is similar in that regard. Some companies are struggling, while others can expand, grow, and seize the opportunity to rise in the market. Mergers and acquisitions (M&A) during this pandemic and later in the post-pandemic era will be the main lever for getting the economy back on track. Most unsuccessful companies will change owners.
Egzakta has been supporting many mergers from the beginning, as well as due diligence projects, to integration projects after the merger. Again, our main field is Southeastern Europe, and most of our clients are either global players or local players expanding their business through mergers and acquisitions in the region.
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