Latest news with #ITsolutions
Yahoo
3 days ago
- Business
- Yahoo
Novian's consolidated revenue increased 2.4% in 2024 to EUR 38.9 million
The Novian IT group's consolidated revenue in 2024 amounted to EUR 38.9 million and grew 2.4% compared to 2023. The group's EBITDA for the 12-month period was EUR 2.57 million and was 2.1 times the previous year's figure. The operating profit for last year was EUR 1.5 million, or 14.3 times the amount in 2023. Novian last year earned most of its revenue – 59% – from activities related to IT solutions, with another 24% coming from software development and 17% from IT services. Its companies conducted operations in 37 countries, earning 77% of their revenue in Lithuania, 12% elsewhere in Europe, and 11% in other countries of the world. 'We are pleased with last year's results, which again show that the success of an IT business depends not just on experience and the application of relevant innovations but also work together with clients to create innovations. I am grateful to the team, which has contributed to this,' says Tomas Vitkus, the CEO of the Novian group. He says that, looking forward, the priority areas for Novian's work include not only projects for national institutions and businesses, but also defence projects, artificial intelligence and high-performance computing solutions to address the challenges of climate change, and potential applications of quantum technologies. 'In the context of the digital era, with Lithuania and Europe actively considering ways to strengthen their defences, advanced technological and programming solutions that leverage artificial intelligence and other innovations should be among the top priorities for the country and the region. We are confident that Novian's experience and know-how can be useful, and we are ready to contribute to projects in this area,' Vitkus says. In the area of software services, the past year stood out not only for the creation of modern national-level information systems, but also for advanced defence, aviation and space projects carried out together with European partners. Novian has undertaken a wide range of defence projects since as far back as 2004. In 2024 alone, Novian took part in a total of seven defence projects funded by the European Commission. This year it is continuing four such projects: PEONEER (implementing Activity Based Intelligence to complement geo-spatial activities), SESIOP (enhancing the interoperability of military Air C2 systems and integrating Single European Sky rules), FIRES 2 (developing next generation ammunition), and ODINS' EYE 2 (developing a European space-based missile early warning system). Another project currently underway is HIPSTER, which is developing an innovative software solution for effectively identifying, analysing and resolving hybrid threats. Using advanced OSINT, SocMINT, NLP, and AI technologies, HIPSTER will automatically detect threats and deploy countermeasures to prevent potential damage. The project is linked to EU initiatives. 'In the area of IT solutions and services, last year stood out for new public sector cloud computing architecture and procurement consulting projects in African countries. We also expanded our business client portfolio by offering IT infrastructure services and introduced high-performance computing solutions for weather forecasting and climate change modelling," notes Gytis Umantas, the CEO of Novian Technologies. He says the company has played an active role too in creating a quantum technology ecosystem in Lithuania. Early this year, guidelines for the development of quantum technologies in Lithuania were presented, setting out the priorities and opportunities in that field. Also noteworthy with regard to innovations is Novian's membership of a consortium for implementing the Massachusetts Institute of Technology (MIT) International Science and Technology Initiatives Programme (MISTI) in Lithuania. The consortium signed a cooperation agreement with MIT in early 2025. In the course of this project, Novian aims to expand the uses of AI-related innovations, to create technologies for increasing public safety and resilience and for using high-performance computing to combat climate change, and to develop quantum technologies. According to an independent valuation carried out by the financial consultancy Deloitte Verslo Konsultacijos, the fair value of the Novian group at the end of 2024 was almost EUR 22 million and was 11.7% higher than at the end of 2023. This figure reflects not only the financial performance of the group's companies, but also the estimated one-off impact that could arise if there is an adverse court decision regarding the contract for a project undertaken by the group company Novian Systems to provide modernisation services for the Central Public Procurement Information System. The Novian group consists of Novian Technologies, Novian Systems and Novian Pro in Lithuania, Novian Eesti of Estonia, Andmevara of Moldova, Zissor of Norway, and Novian Rwanda of Rwanda. The Novian group's results for 2024 are based on the audited results of Novian Technologies, Novian Systems, Novian Pro, and Zissor, and the unaudited results of the group's other companies. The Novian group is owned by INVL Technology, a company that invests in IT businesses. The person authorized to provide additional information:Kazimieras TonkūnasINVL Technology Managing PartnerE-mail Novian 2024 results
Forbes
4 days ago
- Business
- Forbes
Blowing The Lid Off Small-Business Success
Lance Reid is CEO of Telcion Communications Group, a provider of IT solutions and managed services for the healthcare industry. As a small-business owner, I've learned to always look several steps ahead. While focusing on the challenge or opportunity right in front of you is important, you cannot focus on that to the detriment of the other challenges and opportunities also on your plate. Call it multitasking with a purpose. Citing data from the U.S. Bureau of Labor Statistics, the Commerce Institute said that one-fifth of small businesses overall fail in their first year. That percentage rises to nearly 50% by year five and more than 65% by year 10. The category my company most closely aligns with—professional, scientific and technical services—fares slightly worse than average, with a 10-year survival rate of about 31%. So, I consider myself lucky that the IT services firm I co-founded in 2002 is still thriving and growing its market share. According to Investopedia, the four top reasons small businesses fail include inadequate capital and marketing missteps. But I want to focus on the other two: ineffective business planning and inadequate management skills. Ineffective business planning occurs when an owner concentrates on the task at hand with no larger thoughts about the business. As the owner, you should know the answers to the following: Who are your competitors? What are your advantages against them? How are they better than you? What micro and macro trends are likely to affect your business in the months and years to come? Who are the other leaders in your company whom you can rely on? By readily knowing the answers to these questions and understanding the unique business proposition your company brings, you can plan more effectively. Of course, sometimes the task at hand truly is the most important thing, such as a critical deadline for your best customer or preparing for a pitch meeting that could mean significant growth for your company in the next year. But you can never lose sight of the bigger picture: the ongoing future success of your business. The main strategy that I've used over the years to help with this is to set a specific time on my calendar for strategic planning. The best results come when I get away from the office and turn off all notifications so I can have some uninterrupted thinking time. I've also found it very useful to set aside two to four hours with my team to brainstorm and talk about long-term strategic direction. This forces me to get my thoughts together and be prepared for a discussion. There are always fires to be put out, clients to call and urgent tasks that come up day to day, but if I don't make time for it, I'll never get it done. Inadequate management may be even tougher to deal with because, in small businesses, the owner is often the only manager. Without a network of peer owners or business advisors to rely on, owners can lose sight of the business in the day-to-day rush to serve customers, drum up business and manage staff. I recommend constantly growing your own skills so you can be a better manager, a better mentor and a better worker within your business. Listening to podcasts and reading books on management is a simple step to start with. If you find resources that are really good, go through them with your team so they can learn with you. I'm constantly looking for good books to read on leadership. For example, one of the most influential books I've read is John C. Maxwell's The 21 Irrefutable Laws of Leadership. My biggest takeaway from the book is that you do not want to be the lid for your organization. A business can't grow beyond the competence—the lid—of its leader, which means you'll need to learn new things you might not otherwise want to. For example, I love the technical aspects of my business, but at one point, I had to put other people in charge of the technical side because my time and attention as a leader were better spent elsewhere. Likewise, managers and other executives aren't likely to be attracted to companies where the CEO or president doesn't offer an opportunity for that manager to grow in responsibility. I might not be the smartest person in the room, but I must bring a holistic perspective to the business that other leaders, managers and employees don't have. To help foster this holistic perspective and foster further growth as a leader, mentorship can also be worthwhile. Early in my career, I hired an executive coach to hold me accountable. Later, I joined a CEO group with a local chapter, where I could talk with other CEOs and be held accountable by the group chair and my peers. It's a constant challenge to keep raising the 'lid' and learning new things, but it's critical to the success of your company. Personally, if I ever get to a place where I'm not willing to challenge myself in this way, then it's time for me to step aside and let someone else lead the company. I never want to be the lid for my organization. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Al Bawaba
12-06-2025
- Business
- Al Bawaba
LG Reshaping and Empowering Smarter Workplaces Through Next-gen It Solutions
LG Electronics (LG) is continuing its dedication to transforming business operations in the region with its latest collection of innovative IT solutions, including top-tier monitors and powerful ProBeam laser projectors. Crafted to address the changing needs of corporate offices, educational institutions, and different business sectors, these solutions are ushering in a new era of smart working and monitor lineup leads in ergonomic design and visual comfort, essential for today's demanding work environments, where models like the 27' Full HD IPS, and 34'' UltraWide™ WQHD IPS monitors, both with built-in webcams, exemplify LG's drive to offer features that focus on user well-being and Reader Mode and Flicker Safe, the LG 27' Full HD (1920x1080) IPS monitor also boasts advanced eye comfort technologies, minimizing eye strain during long hours of work, while its ergonomic design allows for adaptable adjustments to fit individual preferences. For professionals needing more digital workspace, the LG 34'' UltraWide™ WQHD (3440x1440) IPS monitor provides a wide screen for superior multitasking, allowing users to handle multiple applications simultaneously with both monitors feature convenient USB-C connectivity, simplifying cable management and providing a single-cable solution for power, data, and video transmission, thereby streamlining the workspace and improving overall efficiency, as well as a built-in webcam and mic, and a 99% coverage of the sRGB LG's innovate monitors are the ProBeam Laser Projectors, including the ProBeam 4K Wireless Laser Projector and the ProBeam WUXGA Laser Projector; projectors designed to deliver sharp presentations and encourage dynamic collaboration. With a 4K (3,840x2,160) or a 1920x1200 Wide Ultra Extended Graphics Array (WUXGA) resolution, they ensure detailed and precise images in any business ProBeam's mercury-free laser offers an exceptional lifespan, too, of up to 20,000 hours, maintaining 99% of its initial brightness over time, while providing nearly maintenance-free operation. Its longevity, combined with smart wireless connections through webOS™, Miracast™, and Bluetooth, makes screen and sound sharing easy and stress-free, adapting effortlessly to a variety of business needs, from small meetings to large LG ProBeam, with as much as 6,000 lumens of brightness, promises clarity even in well-lit convention centers, providing powerful performance from a small 16.7-liter body, and flexible installation options, including Lens Shift and Zoom x1.6, allowing it to fit any space perfectly, while also featuring four Corner Keystone for precise screen adjustments. LG's integrated approach to IT solutions, from monitors to projectors, empowers businesses to adopt flexible and hybrid work models, enhancing employee engagement and productivity. By combining top-notch image quality, ergonomic design, smart connectivity, and flexible installation options, LG's monitors and ProBeam Laser Projectors are the ultimate tools for modernizing business presentations and daily operations, ensuring LG remains a leader in offering cutting-edge, efficient, and sustainable B2B IT solutions, setting new standards for business environments across the region.
Associated Press
10-06-2025
- Business
- Associated Press
Black Book Research Demonstrates Two-Decade Commitment to Excellence in Managed Care Industry Insights
In-Depth, Transparent Industry Studies Highlight Leading IT Solutions, Managed Services, Outsourcing, and Advisory Firms Serving Health Plans Since 2004; AHIP Conference to Showcase Top Vendor Recognitions LAS VEGAS, NV / ACCESS Newswire / June 10, 2025 / Ahead of next week's AHIP Annual Conference in Las Vegas, Black Book Research highlights its long-standing commitment to providing comprehensive, unbiased, and actionable insights within the Managed Care sector. Since 2004, Black Book has conducted rigorous surveys and studies focused on IT solutions, managed services, outsourcing partners, and consulting and advisory firms dedicated to supporting health plan operations. Renowned for its detailed methodology and transparency for commercial insurance tech, Black Book surveys delve deeply into the operational efficiencies, technological advancements, and strategic complexities faced by health plan organizations. Its extensive surveys evaluate more than 50 specific categories of software and services within managed care, capturing the unfiltered voice of end-users and stakeholders. Black Book's unbiased results offer unmatched clarity, empowering managed care organizations to make informed decisions based on real-world experiences. At the upcoming AHIP conference, June 16 - 18, 2025, in Las Vegas, Black Book Research will spotlight the top-performing IT vendors serving the managed care industry, recognizing outstanding performance in user satisfaction, innovation, and operational excellence in dozens of software and managed services categories. Curently Featured Q2 2025 Reports and Deep-Dive Analyses (Each of these detailed studies is available for full and complimentary access to all managed care stakeholders through Black Book Research's website, facilitating transparent knowledge sharing and industry growth. All four press releases are also available in the Black Book Newswire media room at providing direct access for industry stakeholders.) Ensuring Real-Time Compliance and Operational Excellence: Technology Strategies Used by 5-Star Medicare Advantage Plans (Released May 2025) This report explores strategic technological deployments in Medicare Advantage (MA) organizations that consistently achieve top-tier star ratings. It emphasizes how leading MA plans employ IT for real-time compliance, provider integration, and efficient operational management under intensified CMS audit pressures. Optimizing Member Experience: Technology Strategies Behind Elite Medicare Advantage Plans' Success (Released May 2025) Detailing digital strategies that underpin superior member engagement and satisfaction, this study underscores best practices and IT innovations adopted by elite MA plans to improve CAHPS and NPS performance scores. Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics (Released May 2025) This comprehensive analysis outlines the impactful use of data analytics, AI-driven insights, and sophisticated care coordination technologies by high-performing MA plans, demonstrating their strategies to achieve operational excellence and regulatory compliance. The Elite 50 Technology Vendors Driving Medicare Advantage 5-Star Ratings Amid Heightened CMS Audit Standards: An Industry Resource (Released May 2025) A pivotal report identifying and ranking the top 50 IT vendors whose solutions directly contribute to achieving and sustaining high Medicare Advantage star ratings. The detailed vendor evaluations reveal critical technology capabilities that ensure CMS compliance and performance success. Each of these detailed studies is available for full and complimentary access to all managed care stakeholders through Black Book Research's website, facilitating transparent knowledge sharing and industry growth. See The Rapid Expansion of Healthcare Outsourcing (Released April 2025) Also includes vendor evaluations and insights into the managed services and outsourced/offshored niches of the managed care industry. It is available for download at AHIP Conference Recognition and Ongoing Commitment Black Book Research will publicly acknowledge the distinguished IT vendors who have consistently demonstrated superior client satisfaction, measurable outcomes, and innovation at the AHIP 2025 Conference. Additionally, Black Book experts will be on-site to engage with attendees, offer strategic insights, and further deepen the conversation about industry trends shaping the future of managed care. 'We have maintained an unwavering commitment to provide the managed care industry with actionable insights derived directly from healthcare leaders and technology users,' said Doug Brown, Founder of Black Book Research. 'Our detailed approach ensures stakeholders access the most relevant and transparent evaluations available, positioning them effectively to respond to emerging challenges and capitalize on transformative opportunities.' To explore these comprehensive managed care industry studies and access the reports at no cost, visit About Black Book Research For over twenty years, Black Book Research has delivered impartial, robust market research and industry analysis across international managed services, outsourcing and the healthcare technology sectors. Known for transparency, meticulous data collection, and unmatched industry expertise, Black Book is trusted by health plans, providers, technology vendors, investors, and consulting firms globally. Several gratis reports on industry top vendors and current trends are available for download on the Black Book website. Contact InformationPress Office 8008637590 SOURCE: Black Book Research press release
Zawya
02-06-2025
- Business
- Zawya
How businesses in Africa are finally closing the efficiency gap?
In today's economy, businesses lose up to 30% of revenue annually due to inefficiencies stemming from outdated systems and manual processes. Across Africa, enterprises are particularly overwhelmed by complexity, managing an average of 45 to 75 disconnected IT tools, while automation remains underutilised. However, this is changing rapidly. At the forefront of change is the adoption and deployment of IT automation solutions. These tools and systems automate repetitive tasks and manual processes, reduce errors, and streamline operations and workflows. In South Africa, Think Tank Software Solutions [TTSS] is at the forefront of this shift, partnering with global automation leaders such as Docusign, Workato, and Zapier. Case studies indicate that these automation tools can help African businesses cut turnaround times by up to 80%, reduce manual tasks by 80%, and boost ROI by as much as 291%. 'As businesses across the continent face growing pressure to do more with less, automation isn't just a cost-saver; it's a competitive edge,' says Greg Strydom, Managing Director at TTSS. 'Our partnerships with leading platforms allow us to deliver secure, scalable, and simplified operations that drive measurable impact across HR, sales, procurement, and IT. Three Powerhouse Platforms Enabling Real-World Transformation Docusign: Compliance, Contracts & Speed 82% of agreements are completed in less than a day; 49% in under 15 minutes. Automating agreement workflows leads to an 80% faster turnaround, 40% lower processing times, and significantly improved audit compliance. TTSS uses Docusign to transform contract lifecycle management and reduce friction in high-risk environments. Workato: No-Code Integration at Scale 3+ billion workflows automated per month across 11,000+ companies. Delivers 291% average ROI over 3 years (Forrester TEI Report). Enables 'citizen automation' by empowering business users to build powerful integrations, no dev required. TTSS uses Workato to connect finance, HR, and CRM systems, reducing IT backlogs and boosting enterprise agility. Zapier: Lightweight, Instant Automation Trusted by 3.4 million+ businesses, supporting over 8,000 app integrations. Users report 40% productivity increases and a 38% drop in data entry time. TTSS leverages Zapier for fast, affordable automation across SMEs and fast-scaling startups. Automation That Fits the African Business Landscape Whether it's a large financial institution handling global contracts or a startup that automates lead capture, TTSS has made automation accessible, secure, and scalable across the continent for over a decade. The firm's custom automation strategies decrease IT complexity while ensuring compliance and operational resilience. 'Automation is not a luxury, it's the lever for sustainable growth and digital transformation,' concludes Strydom. 'With the right solution and partner who understands how to implement efficiently and effectively, African businesses can move faster, serve customers better, and build truly modern operations. And that's what we strive to do here at TTSS – make Africa perform at a global level.' About Think Tank Software Solutions (TTSS) Think Tank Software Solutions (TTSS) has been a leading provider of enterprise software solutions since 2010. Specialising in Ivanti products, Think Tank Software Solutions helps businesses automate IT operations, enhance digital experiences, and improve business outcomes. With a focus on tailored, strategic guidance and end-to-end support, Think Tank Software Solutions (TTSS) collaborates with clients to create custom solutions that align with their goals. As South Africa's only Ivanti Premier Partner, TTSS offers exclusive expertise and industry-leading solutions that empower businesses to stay competitive and efficient in an evolving digital landscape.
