With the growing rate of vaccinated population and mitigation of restrictions related to the COVID- 19 pandemic, it seems that economy is starting to wake up. According to the latest data from Eurostat, Croatian GDP in the first quarter grew by 5.8% in comparison to the previous one. The preceding upheaval year was very challenging for the economy, however the Croatian IT sector kept supplying nothing but good news. The Zagreb based company specialized for custom software development, Ingemark ensured to add to the batch.

Clutch, one of the leading global companies for grading and reviewing B2B companies, every year highlights the top 100 fastest growing companies as well as top 100 companies with sustainable growth based on financial data available. Ingemark was listed on the top 100 growing companies who closed the last year with revenue of US$2.3 million which is a growth of roughly US$1 million in comparison to 2019. Pleased with another accomplishment was Ingemark CEO Viktor Matic.

“It is flattering that we are on the top 100 fastest growing companies in the world list. This confirms that our engineers are doing great work and I am very proud in that regard. The decisions that we have made in the last two years were focused on growth of Ingemark, the organizational changes and increased caution with project evaluation before taking them on board. We have completely reorganized and are continually developing, thus being selected in the top 100 list is in a sense a confirmation that we are heading in the right direction which makes me extremely pleased.”

The companies that are selected for this list are usually headquartered in the USA, Australia, and India. The great minority of only around 10% are companies with over 1000 employees and the great majority with over 50% are companies with less than 50 employees, including Ingemark who currently has 40 employees; however, we do intend to increase that number by the end of next year.

“Regarding the number of employees, the general goal is to reach 70 employees by 2022. I believe that it is difficult to plan in the future for the more extended period than that. With this severe growth concerning the number of employees it is imperative to set up processes which will ensure that everyone knows what is expected of them as well as, what they can expect from their colleagues. In that sense, the defining and clarification of processes is one of our top priorities. As part of that we have recently certified our company in compliance of ISO 9001 and ISO 27001 standards”, said Matic.

For 2021., Clutch criteria for the list of top 100 fastest growing companies is based on their absolute revenue growth rates from 2019 to 2020., whereas the list for top 100 companies with sustainable growth is based on their absolute revenue growth rates from 2017 to 2020. With excellent business dealings and increase in the number of employees Ingemark expects the revenue to increase all the way up to US$4 million by the end of the year. If you were to judge by Tatjana Barancic, a long-term president of CISEx, who stated in February that the IT sector is expected to grow by at least 10% and

IT exports by 20% in 2021, it is to be expected more positive news from the IT sector by the end of the year.