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We had a conversation with Pavlo Pylypenko , the Finance Manager at Xpand , delving into the current state of the IT industry in Ukraine, financial resilience during the crisis, and how #Xpand has navigated through rough times. We also explored the potential future challenges the company may encounter.
After the onset of the full-scale war, the IT sector emerged as the sole industry that managed to sustain work volumes, particularly in terms of export. According to the data from the National Bank of Ukraine, in 2022, the IT sector provided foreign currency inflows into the Ukrainian economy amounting to $7.34 billion (+5.8% YoY)*. In this regard, the share in the overall export of services was 44%. For the results of the three quarters of 2023, the export of IT services from Ukraine amounted to $5.02 billion, which is 8.4% less compared to the same period last year, and the share in the export of services remains at more than 41%.
But today, it is the IT sector that has become the anchor among Ukraine's industries, and IT companies continue to actively generate tax revenues to the budget, provide jobs and social guarantees to our citizens, as well as actively develop new services and products taking into account new realities.
As of now, 100% of the company's clients continue to collaborate with us on both existing and new contracts, allowing us to generate tax revenues for the country's budget. We have managed to avoid project cutbacks, and we have slightly increased our workforce. The company continues to pay salaries in full and on time, provide a compensation package (insurance, course attendance), and has even launched a new direction in psychological support for our employees. We financially support colleagues who have joined the Armed Forces of Ukraine and ensure the preservation of their jobs.
As a Ukrainian company, we actively engage in volunteer activities (educational, military), assisting the defense forces of Ukraine and all those fighting for our freedom on the front lines. We do everything in our power during these difficult and dark times.
All of this became possible through rapid managerial adaptation and crisis management of the company's operational and financial activities, but what is equally important is understanding the potential concerns and "pains" of our clients. At the core of all our services is a customer-centric approach, which has allowed us, among other things, to work proactively.
We quickly adapted to the new conditions by developing and implementing clear instructions for employees and a detailed action plan for our collaboration with clients. This systematic approach and detailed analysis helped develop and implement a comprehensive Business Continuity Plan, which, in turn, focused on addressing issues in the following areas:
Provided all employees with the necessary equipment, regardless of their actual location. Facilitated online work through a robust business communication and information exchange system. Transformed offices into autonomous hubs with generators, charging stations, and uninterrupted internet connectivity, reducing the risks of negative impacts from blackouts. Diversified information security and ensured data confidentiality through both cloud and local solutions. Opened a branch in Lithuania to ensure the stability of specific services and risk diversification.
Active management of the cash flow and accounts receivable/payable. Activated marketing and sales efforts to search for new projects/clients, expanding the company's client portfolio and having a diverse income structure (risk diversification).
This year, as well as the war, has not yet ended. Still, as of now, thanks to the implemented comprehensive measures, we can predict our activities with some confidence, providing high-quality and uninterrupted services and products to our clients, generating cash flows and added value, although it's worth noting - with a significantly lower level of business margins.
However, neither we nor our clients, and even competitors in the market should delude ourselves and form a false impression of the real state of affairs and prospects. Speaking of plans and prospects for the next year, we assess the situation in the internal and external IT services market in a few words - "challenges," "turbulence," and "uncertainty."
The above-mentioned assessment of the sector's prospects, including those of our company in particular, is supported by several objective factors. Firstly, it's the war in Ukraine, which will continue to have a destructive impact on the country's economy as a whole, and the IT sector in particular. Potential blackouts, mobilization, access to communication, sector investments, and the trust of international clients will all have an impact in the coming year.
Secondly, the global economic downturn, which with almost 100% certainty will transition into a phase of a global financial crisis or economic adjustments within specific regions, will impact the cost of services, market player certainty, resource costs, and competition.
Well, thirdly, artificial intelligence will bring adjustments to the entire IT sector, as alongside the factors mentioned above, it will force companies to consider cost reduction in wages through simultaneous automation or even "robotization" of processes.
At Xpand, we use accumulated experience and already have some expertise in facing extreme challenges that have been on our path in recent years. Simultaneously, considering market realities and the global situation, we are prepared for a marathon during which we constantly improve, adapt, and unfold both within the company and in collaboration with our clients and partners.
Crdito Agrcola, one of the largest banks in Portugal, serves more than 1.2 million customers across 700 locations. In order to better support their increasingly mobile customer base, the bank created consumer banking apps for three mobile operating systems in the platform-specific languages.
Curious if anyone has tried any of these. I use Xpand!2 often enough that eight bucks for a bunch of new presets seems interesting, but it's a ROMpler with limited controls. I guess it would be the various sounds layered and tweaked.
I usually end up using the more "vanilla" presets, like if I want a double bass or drum machine. I don't use it for inspiration like I do with say, Vacuum Pro or Hybrid 3 or Element or my AAS player packs.
I have installed it. Took a little time before i found where it was in xpand. The only three i tested right now is called arppad - insomnia/ something or nothing/ zion - and was great fun. Especially the first insomnia was alone worth the 8 euro.
XPand!2 is a ROMpler, so what it has under its hood is a collection of sampled waveforms that can be tweaked (with filter and volume envelopes) and layered and effected and arpeggiated to create presets. It comes with 2500+ presets. Each preset can layer 4 of the waveforms.
These are more presets, not more waveforms. Whether the folks at Patch Hut have done something interesting with the sounds is the big question. I went to their site and listened to some of the demos, and perhaps to their credit, they tend to leave the reverb out of the patch, which is my strong preference, I like to use my own way better sounding reverbs on synths rather than the ho-hum ones that tend to come built into synths.
I use Xpand! a lot. It's got some great balls-to-the-wall pads among other things. I too grabbed the expansion pack and never noticed it's all in the X86 folder. I thought Xpand! was 64-bit. Maybe the preset location is legacy (where it was when it was 32 bit.)
Hi @Max Deland ! Thanks for the quick response. Would you be interested to share your experience with Xray for a customer success story? :) Perhaps you we can move this to email - Feel free to reach me at
tonislav...@xpand-it.com
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