Cegeka has consolidated its nearshore presence in Eastern Europe in 2019, and reached an optimal, integrated onsite and nearshore services mix, for a full proposition within the overall Cegeka offering.

In Romania, headcount at our offices in Bucharest and Iasi reached 565 FTEs, for both cost and profit centers. Revenues in the profit center alone increased by 35% and profits increased by 52% in 2019, compared to 2018, through better allocation of resources.

From only an emerging player on the Romanian market for Professional Services / IT Staffing last year, Cegeka Romania is now at the very top of local providers, with a significant increase in personnel and general market recognition.

New projects have been completed successfully in the areas of AI/ML, Fintech and RPA, with new own-Cegeka IP generated - most notably the Intelligent Virtual Assistant, a world-class Natural Language Processing and Natural Language Generating tool (adaptable to any language).

In the Czech Republic, successful efforts were made towards the development of our own IP in the Banking & Insurance area; we are looking to further expand our business in this country through organic growth, but also possible acquisitions.

Upon carefully analyzing the entire marketspace in Eastern Europe, Cegeka decided to expand to the Republic of Moldova. Very attractive prices (lower than Ukraine) and quality developers have set us on this path, where we are in the process of establishing a strong market presence - leveraging Cegeka development processes and unique employee benefits to attract the best Moldovan talent.