The head of one of the largest IT companies, Ciklum, Vitaly Nuzhny, believes that in the current situation both for his company and for the Ukrainian IT market as a whole, maintaining the current indicators can be considered a success.
The head of one of the largest IT companies, Ciklum, Vitaly Nuzhny, believes that in the current situation both for his company and for the Ukrainian IT market as a whole, maintaining the current indicators can be considered a success.
«If we maintain our position in 2025 at the level of 2024, it will be a success. Even in stable times, only 8% of companies grow within three years. What the Ukrainian industry has been doing all these years is a phenomenon. It is necessary to return to it», — said Nuzhny in an interview with Forbes.
The top manager added that Ciklum is holding on to a plateau in Ukraine, but globally expects a small growth of up to 10%.
According to him, in the current situation the expression flat is new up is very relevant, because before the IT industry was used to living with growth of 20-30% year to year, and now the task is to maintain the current volumes.
«There was a lot of hope in the market for food companies, but no one has long-term stability. MacPaw recently announced a 20% cut due to financial difficulties. Markets are very dynamic. The service industry in Ukraine competes with global players. Last year, all global companies fell or grew within 5%. The market trend is not very positive. Not so much because of war as because of macroeconomics. Competition has increased», — Vitaly Nuzhny described the situation.
The Ciklum executive also announced that they are currently looking at companies that can expand expertise, and have up to 10 such companies in the pipeline.
As for personnel, according to Nuzhny, up to 500 specialists work in the Romanian, Polish and Bulgarian locations, and Ukraine remains the largest location with the deepest expertise.
«In Romania, we expect a rapid scaling with one of the clients. Without a team of several hundred people in Ukraine, we will not be able to cope with this… In Ukraine, the trend is closer to maintaining teams. And in other locations we are actively growing. Given their small size, this is tens of percent of growth», — said the head of Ciklum.
According to Nuzhny, the demand for IT products is unstable, and companies invest less and want to release products to the market faster.
«This means that the development time for large projects is reduced from 2-3 years to a year and even six months. There are more and more smaller projects. Up to 40% of contracts expire each year. The product was released — and then only support», — he explained.
As we wrote, in February this year Vitaly Nuzhny joined the Ciklum team to develop the company’s business in Eastern European locations.
In 2022, after a 12-year career, Vitaly Nuzhny left Luxoft and focused on his own business for a while.
