The fast-growing domestic IT company Q achieved HRK 141 million in revenue in 2022, or 44 percent more than in 2021, and plans similar growth for 2023, with a focus on internal processes and efficiency and further expansion of the client portfolio and markets, especially in the Middle East. the leaders of Qa pointed out on Thursday.
At the annual meeting with journalists, the president of the management of the Zagreb company Filip Ljubić, member of the management for finance Goran Kovačević and head of human resources Sara Šitum pointed out that Q provides innovative digital services, solutions and products (applications, web platforms, portals, etc.) orders from clients, of which there are more than 40 from Croatia and around 20 countries around the world, and more than 18 global corporations are among the clients.
Q was founded in 2013, and for the last five years the business has been growing significantly, with their revenues from 2017 to 2022 increasing by as much as 840 percent, from HRK 15 million in 2017 to the aforementioned HRK 141 million in 2022, Kovačević said.
This was accompanied by a large increase in the number of employees, by as much as 485 percent in five years – from 60 in 2017 to more than 350 in 2022, while in 2023 they plan to further increase their number to more than 400, offering them, in the words of Ljubića and Šitum, very competitive conditions.
“Q’s biggest strength is its employees, in whose development of competencies and creation of a business culture we constantly invest a lot. Satisfied employees and clients are a sign of success, which makes it easier to deal with the crisis and the increase in business costs, for which we also have various solutions,” he said. is Ljubić.
He also announced that the natural path for them is to go on one of the world’s stock exchanges, which, depending on the development of the company and the market, as well as geopolitical-economic trends, they plan around 2025.
The key challenges are growth, new employment and new markets
For 2023, in addition to the increase in income and new employment, Q plans to focus more on new markets, especially the Middle East, where they see great long-term opportunities in Saudi Arabia and Dubai in particular, as well as on the US market.
“Growth will always be present in the plans as our DNA, and in 2023 we plan to achieve it by expanding our client portfolio, opening new markets and new sales partners,” Ljubić pointed out, adding that apart from Zagreb, there are also Q offices and centers in London (United The Kingdom is their biggest market), in Belgrade, in the Philippines and a smaller one in Zurich.
Ljubić also pointed out that last year the company Q was ranked among the ten best “web development” companies in the world according to Clutch, the world’s leading research agency for ranking IT companies, which was also their strategic goal, and he explained that they achieved this by that during the pandemic they did not cut costs but hired additional people in sales and communications, deciding to focus globally on industries not affected by the crisis, such as medicine and pharmaceuticals.
Among the many digital solutions and products they have worked on for clients are, for example, the development of a mobile and web application to help German driving school students pass the theory test in cooperation with the German startup Streamways, then a software solution that helps a donated kidney find a suitable recipient more easily and quickly, or determines in advance whether the recipient will be able to receive the organ before it is transplanted, in cooperation with the English company Accunea.