Sigma Software and IdeaSoft Reveal the Results of Their First Year of Cooperation
About a year ago Sigma Software and IdeaSoft announced the start of their partnership. IdeaSoft has become a part of Sigma Software Group, while securing their identity, structure, and approaches. With this merger taking place, Sigma Software expected to strengthen the core management team and enhance its offers to Customers in various domains. IdeaSoft in turn, received an opportunity to implement well-built processes, get higher brand credibility, improve HR brand, and get new and amazing projects from a wide array of customers from Sigma Software’s network. Let us take a closer look at the results of the first year of cooperation.
In 2021, both companies showed significant growth. According to Vladislav Polikarpov, COO and Co-founder at IdeaSoft, Sigma Software's well-known brand helps their company find people for the team easier and faster. Despite some initial fears that the merger would add more bureaucracy to the day-to-day work of IdeaSoft team, those concerns eventually faded away. At the same time, the company was able to strengthen its business with the fine-tuned processes and approaches that Sigma Software has developed over 20 years of operations.
Watch the video where Sigma Software and IdeaSoft co-founders talk about the main achievements of the first year of cooperation (English subtitels are available).
“Teaming up with Sigma Software has allowed us to strengthen the company`s competitive edge and learn from some of Sigma Software’s experience in building business processes and organizing workflows. Consolidation of expertise has expanded the talent pool of resources of both companies,” he says.
The ability to use the brand and network of a multinational company with a wide geographical footprint has had a positive impact when negotiating with clients as well, says Peter Kolomiets, CBDO and Co-founder at IdeaSoft. Moreover, being able to work with experienced people with wide expertise in very different domains helps the IdeaSoft team put their business on a more efficient track. “The partnership with Sigma Software has opened up a lot of new opportunities for us. We are learning how to do business at the next level, including marketing, sales, budgeting, etc. We are learning not just from Sigma Software, but from the whole Danir Group. It’s great to have the opportunity to work with such talented and ambitious people,” Peter notes.
Herman Stogniev, CTO and Co-founder at IdeaSoft agrees with Peter and adds that with this teaming up, IdeaSoft has obtained a broad field of knowledge and expertise to grow their process and skills in deliverables, management, technologies, and a lot more. “We are happy about our partnership and the chance to work together as a strong team of ambitious professionals,” he says.
Through the cooperation with IdeaSoft, Sigma Software in its turn was able to strengthen their expertise in FinTech, Blockchain, Telecom, and other verticals where IdeaSoft has had years of experience. The two companies’ joint efforts have contributed to the development of a balanced IT ecosystem. Among the many successful cases in 2021 we`d like to highlight the following.
- In 2021, Sigma Software Labs (one of the first Ukrainian service IT business incubators) and the managing teams of Sigma Software and IdeaSoft took an active part in the creation of a balanced IT ecosystem and support of promising Ukrainian startups. Thus, a fintech startup FinMap, which is an online financial accounting service for entrepreneurs and SMEs, raised investment from Sigma Software Labs and several individuals, including the founders of IdeaSoft. Another Ukrainian startup Global Ledger has expanded to the global market by signing a strategic partnership with Promethiem AG, a Swiss FinTech group. The startup was founded by Alex Fisun and Dimitrii Bilokon, and facilitated in the IdeaSoft business incubator. The product offers a unique service that dramatically disrupts money laundering and cybercrime allowing banks to freely work with cryptocurrencies. This is the result of Sigma Software Group and IdeaSoft continuous strategy to find and facilitate product business ideas within the service area.
- On December 7th, the co-founders of Sigma Sofware, IdeaSoft, and Datrics, a successful Ukrainian company that provides a no-code platform for data science, launched SID Partners Fund for startups on seed and pre-seed phases. The size of the trust fund is $15M. The fund focuses on the projects with Ukrainian founders in deeptech, B2B, Blockchain, FinTech, and the automotive industry.
- The companies united their efforts in the development of the IT community in Ukraine. IdeaSoft and Sigma Software specialists took part in many tech and business events, in particular, IT Arena, the largest IT conference in Eastern Europe, and IT conference organized by the European Business Association.
- We are also happy to promote a healthy lifestyle and boost sports community development together by taking part in sporting events and competitions.
Andriy Lazorenko, CEO and Co-founder of IdeaSoft, notes that the partnership can be successful when it is about people and FOR people. “We met a team of people who are very similar to us. This is about everything: global thinking, values, and performance. These are people who are pleasant to cooperate with, to be friends with, and to build a global business with. This partnership is about boosting long-term growth, improving knowledge sharing across both organizations, driving brand credibility and business processes maturity.”
“I am passionate about my team. They run IdeaSoft forward after the deal and I am truly proud of the growth rate they have achieved,” he continues. “It’s not just about delivery of services - it’s all about our approach of combining service business and IT products. We are full speed ahead now.”
In many ways, the story of IdeaSoft repeats the one of Sigma Software, which in 2006 joined the Swedish consultancy Sigma Group. “Back in those days we had already had several offers for acquisition from different companies, but none had met our expectations. When we met Sigma, we realized we would like to work with them from the first moment, since they had very similar approaches and their spirit was close to ours,” says Valery Krasovsky, CEO and Co-founder at Sigma Software. “Joining Sigma Group, we were able to maintain our brand and visibility, while gaining a much stronger position on the market. Likewise, the founders of IdeaSoft were also offered to sign an M&A with several companies. However, only Sigma Software provided an opportunity to secure their unique culture and brand, and everything people basically love about this company.”
Valery also adds that this M&A is actually unique for the Ukrainian market, when both companies can equally benefit from it, complement each other, and skyrocket each other`s development. “This is a very successful case of synergy between big and medium businesses, united by the same drive, goals, and aspirations.”