As Novac writes, with more and more of the population being vaccinated against the novel coronavirus and the gradual relaxation of anti-epidemic measures, the economy also appears to be waking up, finally. According to the latest Eurostat data, Croatia’s GDP in the first quarter of 2021 grew by 5.8 percent when compared to the previous quarter.
Last year, the year dominated by an unprecedented global public health crisis, was extremely challenging and impossible to predict for the entire economy, but only positive news came from the blossoming Croatian IT sector. The Zagreb company Ingemark, which deals with the development of custom software, has been listed by Clutch among the top 100 fastest growing.
Clutch, one of the world’s leading global B2B rating and review companies, highlights one hundred of the world’s fastest growing companies each year, as well as the top 100 companies with sustainable growth based on financial data. The Zagreb company Ingemark, which ended last year with impressive revenues of 14.3 million kuna, which is 6.4 million kuna more than back in pre-pandemic 2019, has rightfully been included. Viktor Matic, the director of Ingemark, was also more than satisfied with another success.
”We’re flattered to have been placed on the list of the 100 fastest growing companies in the world. That means our engineers are doing a great job and I’m proud of that. The moves we’ve made over the past couple of years have focused on the development of Ingemark, organisational changes and a much more careful evaluation of projects before we take them over. We’ve completely changed our organisation and we’re constantly evolving, so this inclusion in the top 100 companies is, in a way, a confirmation that we are on the right track, which I’m extremely proud of,” stated Matic.
The companies on this list are mainly headquartered in the US, Australia and India. A smaller number, about 10 percent of the list, are companies with more than 1,000 employees, and most of them, more than 50 percent, are companies with less than 50 employees, including the Zagreb company Ingemark, which currently has 40 employees, but plans to increase that number.
”The indicative target is to reach 70 employees by the end of 2022. I think it’s hard to plan for a longer period than that. With this intense growth in the number of employees, it is important to set up processes that will ensure that all employees know at all times what is expected of them and what they can expect from their colleagues. In that sense, defining the process is certainly one of our priorities, and as part of that, we recently certified the company according to ISO 9001 and ISO 27001 standards,” said Matic.
For 2021, Clutch’s ranking of the 100 fastest-growing companies is based on their absolute revenue growth rate from 2019 to 2020, while the top 100 companies with sustainable growth are based on their absolute revenue growth rate from 2017 to 2020. With excellent business and an increase in employees, the Zagreb company Ingemark expects revenue growth of up to 25 million kuna by the end of this year.
Judging by the statement of Tajana Barancic, the longtime president of CISEx, who said back in February that the IT sector will grow by at least 10 percent this year, and its exports by 20 percent, more positive news from the Croatian IT sector is to be expected by the end of the year.
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