A technology company specializing in consultancy services and software development.
SoftServe, Inc., founded in 1993 in Lviv, Ukraine, is a technology company specializing in consultancy services and software development. SoftServe provides services in the fields of big data, Internet of things, cloud computing, DevOps, e-commerce, computer security, experience design, and health care. With its United States headquarters in Austin, Texas and European headquarters in Lviv, Ukraine, the company employed more than 10,000 people in offices in 2021. It is one of the largest employer for software developers in Eastern Europe, and the largest outsourcing and outstaffing IT company in Ukraine.
SoftServe was founded in 1993 in Lviv. The company was started by postgraduate students of Lviv Polytechnic National University Ihor Mendzybrovsky, Yura Vasylyk, Taras Kitsmey and Yaroslav Lyubinets, later joined by Taras Vervega. The first to support the company on the path to development was the Rensselir Polytechnic Institute (a private university in Troy, New York, USA), and the first known client was General Electric.
The company opened its first office in the United States in 2000. SoftServe played an important role in the creation of Microsoft Bird's Eye in 2004. The same concept was later used by Google to develop Google Street View. For his contribution to the SoftServe project, he was invited to speak at the annual Microsoft conference, where the company set an example of building business applications by technology corporations.
In 2006, the company founded SoftServe University. The university has become a venue for corporate training programs for developers and retraining. Located in Ukraine, the university offers international professional IT certifications to employees who complete the program. SoftServe University became the first corporate university in Ukraine. In 2008, SoftServe also co-founded the Lviv Business School at the Ukrainian Catholic University.
In 2008, the company opened its US headquarters in Fort Myers, Florida.
As of 2017, SoftServe was one of the largest IT outsourcing companies in Ukraine, with a staff of 4,500 employees, second only to EPAM Systems. In 2018, the number of employees increased to 5,000.
SoftServe moved its US headquarters from Florida to Austin, Texas in 2014. That same year, SoftServe opened offices in London, Amsterdam, Sofia, Wroclaw and Stockholm. Also, in 2014, the company bought out Amsterdam-based technical services firm Initium Consulting Group BV. The company was founded in 2012 and served mainly the healthcare and private investment sectors. SoftServe also acquired the European IT company UGE UkrGermanEnterprise GmbH and opened a new head office in Lviv. In 2017, SoftServe acquired the Polish development company Coders Center, which specializes in corporate content management systems and e-commerce platforms.
In June 2021, one of SoftServe's subsidiaries won an open auction by the Ministry of Justice of Ukraine to sell the property of a former penal colony in Lviv. It is planned to build a creative office campus SoftServe on the site, which was purchased for about 378 million hryvnias. According to preliminary estimates, the project will last from five to six years.
Around 2013 the company began large-scale growth. It opened new offices in the United States, Poland, London, Amsterdam, Sofia, and, Stockholm and began a still running (as of 2020) greater-than 20% per year growth streak. About the same time it reached $100 million in yearly revenue. In the following years SoftServe also purchased Initium Consulting Group BV and UGE UkrGermanEnterprise GmbH. Chris Baker was named the company's new CEO as growth continued as the company opened more offices in the United States and Europe. In In 2018 the company revenue was estimated to have surpassed the $250 million mark. By the end of 2020, despite the global pandemic, the company grew by at least 20%, reaching an estimated $450 million in revenue. The company is targeting a yearly revenue of $1 billion by 2025.
SoftServe has extensive experience in software development - from Cloud, Security and UX Design to Big Analytics and Internet of Things. The main areas for which the company develops software solutions are healthcare, retail, financial services and software.
In 2012, SoftServe initiated the annual Ukrainian IT Award competition, which identifies the best professionals in the Ukrainian IT industry. The company remains a partner of the competition to this day.
On September 1, 2020, an encrypted virus was uploaded to the company's internal network, which caused problems in some services. Management announced a cyber attack, which gave hackers access to the company's infrastructure and launched encryption software.
As a result of the attack, personal data and documents of former and current employees and clients, contracts, settlement documents, company accounting, source code of applications of such clients as Microsoft, IBM, CISCO, Deutsche Bank and others were made public. It has been suggested that SoftServe may have been attacked by a group of cybercriminals for material gain or for competitive reasons.
Since 2004, SoftServe has been a member of the Microsoft Partner Ecosystem and was a finalist for the global Microsoft Partner of the Year in both 2006 and 2007. The company was recognized for the same award in 2008 and 2009 in Eastern Europe. SoftServe has continued to receive recognition from Microsoft, including by Microsoft Ukraine in 2012 for Partner of the Year, for Innovation in Business Analytics.
SoftServe is a software application development company as well as consulting firm. Its services include software optimization, software as a service, cloud computing, mobile, UI/UX, analytics, and security. It provides its services mainly in the healthcare, retail, and technology. One of the "SoftServe Business System" divisions also releases its own products, which are specially designed for Ukraine in order to find new technological solutions in IT. SoftServe has continuing partnerships with: Amazon Web Services, Google Cloud, Microsoft, Salesforce, Apigee, and other organizations.
Founded in 1993, SoftServe is a digital product development firm. SoftServe has its headquarters in Austin, Texas with offices in London, Poland, Germany, Bulgaria and Ukraine. SoftServe's team consists of over 5,000 employees that specialize in custom software development, cybersecurity and web development. SoftServe provides services to clients in the healthcare & medical, information technology and retail industries.
SoftServe’s healthcare SMEs helped create an innovative patient-provider product by guiding human-driven designs and prioritizing a sensitive user experience.
January 26, 2022
Enterprises can struggle with fully optimizing all that Salesforce has to offer. Like any other complex system, Salesforce needs to be advanced and maintained on a regular basis. If a company had implemented Salesforce technology years ago, chances are that business processes would have already changed. To adapt to these ever-evolving changes, the system should be continuously optimized to increase value and decrease potential risks.
Do you feel like you are not getting all you need out of the Salesforce platform, but confused about where to start? You’re not alone. To address these needs, SoftServe’s Salesforce audit service helps review the current problems, identify root causes, and provide a complete solution to address them.
When to Perform the Salesforce Audit
The following red flags might signal it is high time to perform the Salesforce audit:
The Salesforce audit is not just about analyzing technical components. It is also aimed at finding out how the business is utilizing the technology, what are the pains and gains the business gets out of implementing it. Furthermore, the inspection identifies what areas of Salesforce can be optimized to deliver a better return on your investment.
Customer Success Story
Let’s have a look at the case of our global commercial real estate client who requested the Salesforce audit. Being successful, our client was already benefiting from using the Salesforce platform, although it needed some improvements. We evaluated the current Salesforce configuration, security breaches, data quality, and system integrations. As a result, the following issues were identified:
After completing both technical and functional parts of the Salesforce audit, the client received a final report with all functional and technical issues along with proposals on how to fix them and the initial cost estimates of these changes. For this specific client, we developed a series of recommendations to better leverage the Salesforce platform:
To increase the quality, speed, and win rate of the company’s sales department, SoftServe reconfigured Sales Cloud functionalities, bringing only relevant features that help create a well-structured sales process. Additionally, we enhanced the system security and reduced the cost of support and maintenance of the system.
Salesforce Audit Benefits
It never hurts to have an audit and learn what Salesforce adjustments can contribute to the customer acquisition and overall business growth. By leveraging the Salesforce audit, companies get:
SoftServe provides customers with the professional and independent Salesforce audit to identify key areas of improvement and provide best practice recommendations.
January 13, 2022
Over the past few years, augmented reality (AR), virtual reality (VR), and mixed reality (MR) have grown rapidly, bringing new technologies, devices, and new use cases to users and businesses. Eventually, all these technologies united under the umbrella of extended reality (XR), representing the whole range of digital solutions for headsets, smartphones, and wearables. The technology growth was relatively steady until the recent events of 2020-2021, which worked as a catalyst for the change.
Everything accelerated when Facebook announced its rebranding to Meta. With the evolution of its name, Meta introduced new strategic goals of conquering extended reality, making it accessible to everyone, and having ten billion users on their platforms within the next ten years. Metaverse―a digital world by Meta, should become the main development vector, which combines all that is necessary for both consumers and businesses.
COVID pandemic and the need to work remotely boosted the already growing XR technology adoption rates. Businesses started to rebuild processes to keep remote workers efficient in the new settings, and XR solutions were a huge part of that.
Let's dive into what happens on the market and with XR technologies, and how the future of industrial XR use cases will look like worldwide.
EXTENDED REALITY MARKET TRENDS
Accenture research showed that 80% of business executives believed that it is crucial to leverage XR solutions to go over physical distance during employee engagement. For instance, the US government is interested in immersive technologies for training purposes and willing to invest up to $11 billion into augmented, virtual, and mixed reality training systems by 2022. North America stands as a pioneer and holds the largest market share in XR, building up the new use cases for XR. However, its growth speed is even higher in the Asia-Pacific region right now. The extended reality innovation will become the focus of many industries, particularly in the military, manufacturing, retail, and more.
According to Mordor Intelligence, the market is growing yearly, mostly due to the technology advancements in motion tracking, increasing private and government AR & VR investments, and the adoption of 5G networks to process an increasing amount of shared data.
Financial trends in Extended Reality
XR
According to Marketsandmarkets and Mordor Intelligence reports, we may observe slightly different dynamic scenarios of growth in the XR market. Both agree that the extended reality market is developing faster than it did in previous years. In 2020, the XR market was valued between $26.05 billion and $33.0 billion. While showing a positive compound annual growth rate (CAGR), reports predict how different market valuations by 2026, anywhere between a more conservative $125.2 billion and a more optimistic $463.7 billion.
AR/MR
Mordor Intelligence reports that in 2020, the global AR and MR market was valued at $553.27 million and is expected to reach $5.81 billion, increasing by 47.9% by 2026. AR and MR software development valuation is estimated to reach $32 billion by 2026. Currently, the AR market is worth a purported $3.5 billion. AR investments are becoming increasingly bigger, which brings virtual content into the everyday world. People have gotten used to the AR environment by using a lot of smartphone applications such as Facebook, Snapchat, and Instagram.
VR
According to Business Data Platform Statista, the AR-VR market will increase up to $209 billion worldwide by 2022. In 2020 the number of global VR device shipments was 13.48 million units, and by 2026 it is expected to reach a volume of 112.62 million units, which in turn will be increasing by 33.85% over the forecast period of 2021 to 2026.
User trends and numbers
Today, AR technology is more popular than VR. GlobalWebIndex shows that the majority of AR users are the younger generation, aging on average from 16 to 34. 70% of them believe that XR can bring a lot of benefits to their lives. For instance, almost half of the consumers would be more likely to choose a retail store that utilizes AR or VR technology. Yet, just over half of consumers (53%) reported that they were interested in using VR or AR in the next three months.
Where does XR & Metaverse go?
With the major shift from Facebook to Meta, technologies that are built on XR and virtual worlds experienced a significant push forward. Meta’s focus is to bring Metaverse to life and to connect, find communities, and grow businesses in virtual worlds for everyone to enjoy.
As Meta has set the development vector in this innovative industry, we may assume that the company will release games and simulators, developed specifically for Metaverse, very soon. These applications will provide ample opportunities for both ordinary users and businesses. Other common games will face new competition from Meta and would need to offer new ways for gaming to rival the entertainment that Metaverse offers.
In a short time, the VR equipment will be optimized, elaborated, and improved for maximum user engagement in Metaverse. Other manufacturers will not lag either, which has already been proven is by the latest news.
Meta will enable its users to enjoy not only the visual advantages of Metaverse but also the tactile ones by using the technologies of the acquired companies.
XR Technology Development on Markets
The extended reality adoption has been significantly accelerated with the COVID-19 pandemic, Meta's announcement of Metaverse, and less market moves. Let’s see what extended reality solutions look like among the biggest companies.
These are several developments that fuel extended reality adoption rates across both consumer and business markets. New devices enable new communication mediums, and new human-computer interaction approaches will enhance experience while interacting in digital worlds.
What industries will benefit the most
Challenges and Opportunities for Extended Reality
As the technology is still in the major adoption phase, it goes through regulation transformation, and integration challenges.
Most of the time extended reality applications collect and process real-time data about surroundings and the user. This data must be protected within the XR platform that it is being used in, and all the data must be anonymized to comply with GDPR, CCPA, or DPD laws.
Historically, XR devices are bulky and rarely comfortable to use for an extended time. Today, these days XR applications are being built for the new generation of headsets, smartphones, and wearables that are designed for a comfortable user experience. The hardware itself is already mature and efficient enough to process and display high-resolution XR images, with performance and battery capacity that can serve for hours.
Integrating XR solutions used to be another challenge to address across industries, however, device vendors, software companies, and third parties have already provided toolsets, APIs, and SDKs to customize the XR experience and integrate it into the existing infrastructure.
The technology cost steadily goes down, enabling many companies to adopt the initial XR technology use cases, or at least to build a foundational platform to integrate XR solutions integrate into their infrastructure.
As each day passes, we are one step closer to solving these issues so that we will see many more mainstream applications of all XR technologies over the coming years.
For the next few years, the technology adoption rate will only increase, introducing many market players that innovate their business and production processes with XR solutions. We at SoftServe R&D, have already walked a long path of developing XR applications and devices and building efficient business processes for remote work based on XR. Companies are already building solutions that bring remote workers together, simplifying complex training involving equipment, creating long-lasting customer experiences in venues, and much more.
The XR train has hit the road. We’re on, come join us!
Founded in 1993, SoftServe is a digital product development firm. SoftServe has its headquarters in Austin, Texas with offices in London, Poland, Germany, Bulgaria and Ukraine. SoftServe's team consists of over 5,000 employees that specialize in custom software development, cybersecurity and web development. SoftServe provides services to clients in the healthcare & medical, information technology and retail industries.
SoftServe’s healthcare SMEs helped create an innovative patient-provider product by guiding human-driven designs and prioritizing a sensitive user experience.