Sophisticated Software Solutions

Sophisticated Software Solutions

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Sophisticated Software Solutions
Sophisticated Software Solutions
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Technology and Communications
Technology
Business Model Description

Develop, sell and maintain software products and services to improve business operations, such as custom software development, cloud computing services, data analytics and business intelligence, and cybersecurity services. Customers receive delivery, implementation, training and support. Software services developed in Serbia are mainly exported. Sophisticated software solutions can target a wide range of industries, including healthcare, finance, manufacturing, retail, education, transportation and logistics.

Expected Impact

Increase efficiency and productivity, improve decision making, create job opportunities, and provide access to information and knowledge.

How is this information gathered?
Updated: 29 Jun, 2023
Serbia
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
> 25% (in ROI)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Short Term (0–5 years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
< USD 50 million
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
> USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Industry, Innovation and Infrastructure (SDG 9) Gender Equality (SDG 5)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Quality Education (SDG 4) Responsible Consumption and Production (SDG 12) Reduced Inequalities (SDG 10)

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Sector Sources
  • 1) International Trade Administration, Information and Communications Technology Market, 2022. https://www.trade.gov/country-commercial-guides/serbia-information-and-communications-technology-market 2) Official Gazette of RS, Strategy for the development of electronic communications in RS from 2010 to 2020, 2009. https://www.ratel.rs/uploads/documents/pdf_documents/documents/Regulativa/Strategije/Strategija_razvoja_elektronskih_komunikacija_2010-2020.pdf 3) International Trade Administration, Information and Communications Technology Market, 2022. https://www.trade.gov/country-commercial-guides/serbia-information-and-communications-technology-market 4) FAO, EBRD and WBIF support Serbia to expand broadband to rural areas, 2021. https://www.fao.org/in-action/territorios-inteligentes/noticias/detalle/en/c/1373515/ 5) The Borgen Project, What Serbia's technology industry can do for its economic situation, 2021. https://borgenproject.org/serbias-technology-industry/ 6) Talas.rs. Low wages in Serbia and the development of technologies - lessons from developed countries, (2021). https://talas.rs/2021/01/18/niske-plate-u-srbiji-i-razvoj-tehnologija-lekcije-iz-razvijenih-drzava/ 7) MESTD of RS. Smart specialization strategy in the Republic of Serbia for the period 2020-2027, (2020). https://prosveta.gov.rs/wp-content/uploads/2020/03/strategija_pametne_specijalizacije.pdf 8) The World Bank, Breaking the blackout cycle of Roma Exclusion in the Western Balkans, 2019. https://documents1.worldbank.org/curated/en/758911554459613139/pdf/Executive-Summary.pdf 9) Social Inclusion and Poverty Reduction Unit of the Government of the Republic of Serbia, Gender Equality Index for the Republic of Serbia 2021, 2021. https://serbia.un.org/sites/default/files/2021-10/Gender%20Equality%20Index%20for%20Serbia%202021.pdf 10) N1 Serbia, Serbia will continue to invest in the development of technologies for a better future, 2022. https://n1info.rs/scitech/matic-srbija-ce-nastaviti-da-ulaze-u-razvoj-tehnologija-zarad-bolje-buducnosti/ 11) Netokracija.rs, More than $135 million in investments for Serbian startups in 2021, 2022. https://www.netokracija.rs/startup-genome2021-197914 12) PC Press, Technology ignores the elderly and the poor, 2021. https://pcpress.rs/tehnologija-zanemaruje-starije-i-siromasne-osobe/
IOA Sources
  • 21) Telegraf. HYCU is a company that deals with data protection of the world's largest companies, and its software solutions are created in Serbia, 2018. https://www.telegraf.rs/hi-tech/zanimljivosti-hi-tech/2997778-hycu-je-kompanija-koja-se-bavi-zastitiom-podataka-najvecih-svetskih-firmi-a-njena-softverska-resenja-nastaju-u-srbiji 22) Pc Press. Endava is opening over 80 jobs in Serbia, 2020. https://pcpress.rs/endava-otvara-preko-80-radnih-mesta-u-srbiji/ 23) Telegraf. Comtrade opened the doors of its company in Belgrade, 2017. https://www.telegraf.rs/hi-tech/zanimljivosti-hi-tech/2882468-comtrade-otvorio-vrata-svoje-kompanije-u-beogradu-briga-o-zaposlenima-im-je-najbitnija-a-tek-da-vidite-sta-su-sve-postigli-do-sada-foto 24) Development Agency of Serbia, THE VORWERK & SOHN GROUP, n.d. https://ras.gov.rs/en/the-vorwerk-sohn-group 25) B92.net, A development centre opened in Belgrade: 85 percent of the company's employees came from Russia, 2022. https://www.b92.net/biz/vesti/srbija/u-beogradu-otvoren-razvojni-centar-85-odsto-zaposlenih-kompanije-doslo-iz-rusije-2244438 26) Vojvodina ICT Cluster, ICT IN SERBIA at a glance, 2022. https://voict-c1c3.kxcdn.com/wp-content/uploads/2022/12/ICT-in-Serbia-At-a-Glance-2022.pdf 27) Official Gazette of RS, National strategy for gender equality for the period from 2021 to 2030, n.d. https://view.officeapps.live.com/op/view.aspx?src=https%3A%2F%2Fwww.rodnaravnopravnost.gov.rs%2Fsites%2Fdefault%2Ffiles%2F2022-02%2FNacionalna%2520strategija%2520za%2520rodnu%2520ravnopravnost%2520za%2520period%2520od%25202021-2030.%2520godine.doc&wdOrigin=BROWSELINK 28) SDG Indicators. https://sdg.indikatori.rs/sr-latn/area/no-poverty/?subarea=SDGUN010602&indicator=010602IND01 29) Data Hub, Individuals who own a mobile cellular telephone, n.d. https://datahub.itu.int/data/?e=ROU&c=&i=20719&d=gender 30) Official Gazette of RS, The Law of electronic commerce, 52/2019. https://www.pravno-informacioni-sistem.rs/SlGlasnikPortal/eli/rep/sgrs/skupstina/zakon/2009/41/4/reg 31) Official Gazette of RS, The Law on Personal Data Protection, 2018. http://www.croso.gov.rs/storage/files/propisi/Zakon_o_zastiti_podataka_o_licnosti.pdf 32) Official Gazette of RS, The Law on Electronic Communications, 95/2018. https://www.paragraf.rs/propisi/zakon_o_elektronskim_komunikacijama.html 33) Official Gazette of RS, The Law on Cybercrime, 10/2023. https://www.paragraf.rs/propisi/zakon_o_organizaciji_i_nadleznosti_drzavnih_organa_za_borbu_protiv_visokotehnoloskog_kriminala.html 34) Official Gazette of RS, The Law on Free Access to Information of Public Importance, 105/2023. https://www.paragraf.rs/propisi/zakon_o_slobodnom_pristupu_informacijama_od_javnog_znacaja.html 35) ekapija.com, New Support Program for Digital Transformation of MSMEs - Subsidies between 6,000 and 12,000 EUR, 2022. https://www.ekapija.com/financing/3728423/novi-program-podrske-digitalnoj-transformaciji-mmsp-subvencije-izmedju-6000-i-12000-eur 36) zstax.com, Tax incentives for the IT sector, 2019. https://www.zstax.rs/poreske-olaksice-za-it-sektor/ 37) The call for participation in the third edition of the BioSens accelerator has been announced, 2022. https://biznis.rs/vesti/srbija/raspisan-poziv-za-ucesce-u-trecem-izdanju-biosens-akceleratora/ 38) Netokracija. IT Serbia from outsourcing to a leading country for the development of digital products and services, 2022. https://www.netokracija.rs/it-industrija-srbija-198977 39) IDM Works: Subsidies For Technology & Why That May Be a Good Thing, 2020. https://www.idmworks.com/ciso-news/cares-act-tech-subsidies/ 40) The Basics Of Innovation Risks: Make Smarter Decisions, n.d. https://www.acceptmission.com/blog/innovation-risk/ 41) Agency for Business Registers, n.d. https://www.apr.gov.rs/%d0%bf%d0%be%d1%87%d0%b5%d1%82%d0%bd%d0%b0.3.html 42) Eurostat: Use of ICT at work and activities performed, n.d. https://ec.europa.eu/eurostat/databrowser/view/isoc_iw_ap/default/table?lang=en 43) Peterhof Consulting stakeholder consultations, February, 10th 2023.