A Year in Review: 2024

Navigating a Challenging Landscape

This year brought a global reduction in tech investments, leading to fewer opportunities in digital innovation. However, Vega IT remained steadfast, focusing on delivering exceptional value to our clients and staying true to our core principles. The determination and creativity of our team allowed us not only to persevere but also to lay the groundwork for future growth.

Global Footprint: Expanding with Purpose

Even in uncertain times, we made significant strides in expanding our global presence. In January, we opened our London office, further solidifying our position in the UK and Europe. The UK continues to be our largest market, contributing more than 40% of our total revenue in 2024. Remarkably, our revenue from this region grew by around 39% this year, reflecting the strength of the relationships we’ve built with our clients. Operating across 24 countries globally, the UK stands out not only for its substantial impact on our success but also as a mature market that provides valuable insights. These insights have helped us refine our services and implement best practices in other regions.

At the same time, we have been laying the groundwork for our Riyadh office, which will serve as our regional headquarters for the MENAT region. While the setup is still in progress, our team in the region has already begun collaborating on exciting initiatives with clients and prospective partners, further expanding our reach and impact.

These developments reinforce our commitment to serving clients worldwide with innovative and impactful solutions, offering them direct access to teams in London and Riyadh staffed by professionals with decades of consulting experience. This local expertise ensures a deeper understanding of regional markets, tailored strategies, and the ability to navigate complex challenges effectively, enabling our clients to achieve their goals with greater confidence and precision.

Driving Innovation Forward

In 2024, we continued to develop solutions that address real-world challenges and drive progress, leveraging our years of experience in specific domains and technologies to guide our efforts.

Each solution we built was carefully chosen based on the insights we’ve gathered from working closely with our clients and understanding their unique needs. By listening to our partners and identifying the challenges they face, we ensured that the products and accelerators we developed provided meaningful value. This approach will remain at the heart of our strategy, as we continue to innovate and deliver solutions tailored to the needs of our clients, including:

• Thrivea: Our modern Human Capital Management (HCM) solution, Thrivea, is designed to help businesses manage their teams with greater efficiency and insight.
• Flywheel: Our proprietary product discovery methodology proved invaluable in helping organizations refine their ideas and maximize their potential. So far, we conducted over 70 product discovery sessions, 11 of which were done using the Flywheel methodology. Recognizing the importance of sharing knowledge, we also created and released a comprehensive Guide to Product Discovery, offering valuable insights and practical steps for businesses looking to bring their ideas to life. This guide is available for free and can be downloaded here.
• Clinical Trial Acceleration Software: Through a 50-50 joint venture between Arthur D. Little and Vega IT, we have developed an innovative clinical trial acceleration solution. This groundbreaking platform combines decades of domain expertise, technological innovation, and entrepreneurial insight from both companies. By streamlining the clinical trial process, it aims to revolutionize how life sciences companies bring new treatments to market, ultimately improving patient outcomes and advancing medical research. This initiative also represents Vega IT’s largest investment to date in its own intellectual property.
• GuardIAM: Our identity and access management solution ensures secure, seamless access for organizations, enhancing operational efficiency and safeguarding sensitive data. We have already successfully implemented this solution on multiple occasions, with the majority of deployments so far being in the Financial Services Industry.

These innovative products and solutions highlight our ongoing commitment to helping clients navigate complex challenges and achieve their goals.

A New Home: Built for the Future

One of the year’s highlights was moving into our reconstructed headquarters at the former Workers University of Novi Sad. This sustainable and collaborative space symbolizes our dedication to innovation and creativity. It’s a physical reminder of what we can achieve when we stay focused on the future.

The new building has space for more than 500 professionals and has brought together our colleagues from multiple locations across Novi Sad under one roof. This consolidation fosters stronger collaboration, a unified culture, and greater efficiency. Moreover, the new headquarters positions us to continue growing as a business and supporting even more clients and partners in the years to come. It’s not just a workspace; it’s a foundation for our next chapter of success and innovation.

We’ve also designed the building to be a welcoming space for external visitors, enabling us to host a variety of events that bring the community together. From art galleries and a LEGO sculptures weekend to tech meetups, our headquarters has become a hub for creativity, knowledge-sharing, and connection, extending its purpose beyond being just a workspace. This was particularly meaningful for us because the building served as a gathering place for the community for decades before we purchased and reconstructed it. Being able to revive this spirit and create a space where people can once again come together, exchange ideas, and engage in meaningful experiences has been deeply rewarding and aligns with our vision of fostering collaboration and innovation within our community.

Giving Back to the Community

Even during challenging times, we stayed committed to making a positive impact:

• Through the “Vrati prirodi” campaign with DechkoTzar, we raised awareness and funds for environmental sustainability, planting 330 trees as part of this initiative to contribute to a greener and healthier environment.
• All profits from my book were allocated to scholarships, empowering young people to pursue education and achieve their potential.
• In December, we launched the “Mašna Humanosti” initiative in collaboration with the organization Anđeli Severa (“Angels of the North”) to raise funds for New Year’s gifts for children from socially vulnerable backgrounds. We engaged the community by installing a large decorative bow on our building in Novi Sad, inviting people to take photos or videos with it. For each shared post, we made a donation to bring us closer to our goal. The campaign culminated in a New Year’s Bazaar, featuring stalls with sweets, toys, and crafts generously donated by local companies, further raising funds for children’s gifts. This initiative not only provided essential support to those in need but also fostered a sense of solidarity and community involvement during the holiday season.

These initiatives reflect our belief in the power of giving back, no matter the circumstances.

Recognitions for Vega IT: Celebrating Excellence

In 2024, Vega IT was honored with several prestigious awards that highlight the impact of our work and the dedication of our team:

Virtus Award 17: This award recognizes our contributions to the NGO sector, specifically our efforts to support organizations that empower women. It celebrates three impactful projects from our Hackathons, which went live in 2024:

• Association Freedom Has No Price: An online platform for the prevention and protection of victims of human trafficking, focusing on women and children.
• Association ATINA - “Chance at Work” Web App: A tool for connecting job openings with individuals from vulnerable groups, offering them opportunities for a better future.
• Association ŽUKO - “Inform Women” Website: A platform designed to raise awareness among women in rural areas through the use of modern technology.

Chamber of Commerce and Industry of Serbia (PKS) Award: at the end of 2024, we were honoured with this award for our business achievements in 2024. This recognition reflects the success of our team in navigating a challenging year and delivering value to our clients and the community.

These awards are a testament to the hard work, creativity, and compassion that define Vega IT. They inspire us to continue making a positive impact in the years ahead.

What we have learned in 2024

Every year brings its share of lessons, and 2024 was no exception. Amidst the challenges and successes, we gained valuable insights that will shape our approach moving forward:

Embracing Generative AI and Investing in Value-Added Services

As generative AI continues to advance, it is revolutionizing how engineering teams work by improving efficiency and automating processes. This shift underscores the importance of companies like Vega investing more in domain expertise and building our own intellectual property, such as software accelerators. These efforts enable us to offer truly value-added services that differentiate us in an increasingly competitive market.

The Right Approach to International Expansion

Our experience with the office in the UK showed us that starting foreign offices with at least two experienced professionals significantly increases the chances of success compared to relying on a single individual. Their combined expertise and mutual support significantly increase the likelihood of success. Additionally, we learned that the entire organization must be aligned and ready to support colleagues abroad, ensuring they have the resources and guidance needed to make the most of our investment in these new ventures.

The Value of Preparedness and Diversification

Once again, 2024 highlighted the critical importance of being prepared for economic downturns.

At Vega, we never take stability for granted and consistently prioritize diversification - across industries, geographies, partnerships, and technologies. This approach not only helps us navigate turbulent times but also ensures we remain resilient and adaptive in a constantly changing environment.

These lessons remind us of the value of reflection and adaptability, enabling us to grow stronger and better equipped to seize opportunities in the future.

Looking Ahead to 2025

As we step into 2025, we remain focused on growth, innovation, and delivering exceptional value to our clients. Alongside exciting product launches, such as Thrivea and our clinical trial acceleration software, we are also prioritizing continued investment in strengthening our expertise and internal processes.

By refining how we work and deepening our domain knowledge, we aim to enhance the quality and efficiency of the services we provide. These efforts will enable us to adapt to evolving client needs, embrace emerging technologies, and maintain the high standards that define Vega IT.

With a commitment to collaboration, learning, and innovation, we are ready to seize the opportunities of the year ahead and build on the solid foundation we’ve laid. Here’s to a successful and impactful 2025!

Thank You for Being Part of Our Journey

To our clients, partners, and team—thank you for your trust, collaboration, and support throughout this challenging yet rewarding year. Together, we’ve demonstrated the power of perseverance and teamwork.

Here’s to a brighter, more innovative 2025!