1.
Presented by:
Jelena Bogdanic
Marketing Manager
jelena.bogdanic@puzzlesoftware.rs
as the most promising
destination in Europe?

2.
The outsourcing sector on software industry has long favoured Asian
countries due to the low service costs. Software outsourcing to India
has gained momentum over the years.
But, Eastern European countries are now asserting their presence in
the IT outsourcing market.
In Southeast Europe, Serbia is finally recognized as a high level
outsourcing destination and the most promising IT outsourcing
destinations.
www.puzzlesoftware.rs July 2014

3.
www.puzzlesoftware.rs
 5 good reasons Why to outsource in Serbia
 Facts from Serbian IT industry in 2013/2014
• Growing trend in Serbian IT industry
o Government support geared towards IT sector
• Serbian companies on the world's largest IT events
• Official international cooperation in IT sector in 2013/2014
• International companies already on Serbian IT market
• What is happening on the Serbian IT market after all?
• What are the key trends and forecast for Central and Eastern
Europe IT market?
 Puzzle Software as the Serbian IT Outsourcing Partner
July 2014

4.
www.puzzlesoftware.rs July 2014
Serbia can provide cost-effective, quality withholding and functional
type of IT outsourcing in the same time. There are many explicit
reasons to choose Serbia for outsourcing IT area of the business:
1. Highly skilled labour affordable by low cost
2. Cultural similarities with no language barrier
3. Time zones / geo position
4. Safe and secured IT outsourcing services
5. Growing IT industry

5.
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Competitive advantage of outsourcing such as
lower costs, IT expertise, economies of scale
and labour flexibility may become your core
strengths through the outsourcing
arrangements with IT companies in Serbia. The
Serbian educational system is based on strong
mathematical and logic background.
July 2014
There are more and more ways for quality software engineering
education and production of excellent IT experts in Serbia, due to the
awareness of the high-level demand for this type of professionals.

6.
www.puzzlesoftware.rs
The people of Serbia have a strong understanding of the western
culture, both on a personal and business level. Together with fluency
in English, it results in making the constructive and rich
communication, both written and verbal, with much more pleasurable
business interaction.
July 2014

7.
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Serbia is in the Central European Time Zone, 1 hour ahead of
Greenwich Mean Time (GMT+1). This location is especially
advantageous if we are talking about nearshore outsourcing contracts.
Serbia is well connected with the rest of Europe and almost any
destination can be reached within 3 hours. So, control workloads
through outsourced projects are guaranteed.
July 2014
!
Serbia

8.
www.puzzlesoftware.rs
Serbia has long unreasonably been characterized as a poor and
untrusted country. Lots of people around the world do not aware of its
numerous resources. Nowadays, situations are changing. Serbia is a
candidate for EU membership which means that its economy has the
growing trend and this country has finally gained the necessary trust!
Many leading global ICT companies, such as Cisco Systems, Adobe,
Motorola, Ericsson, Oracle, Google, Hewlett Packard, SAP, IBM,
Siemens, Intel, Telenor, Microsoft and SKF Group, have already
recognized great software development competitive advantages of
Serbian market and set up theirs business in this country.
July 2014

9.
www.puzzlesoftware.rs
Government support geared towards IT sector in Serbia is the best
evidence of awareness about the Serbian potential in world`s IT
industry. Last year there were over than 2,000 software companies in
Serbia which hired more than 6,000 developers.
July 2014

10.
www.puzzlesoftware.rs
According to Serbian Deputy Prime Minister and Minister of Foreign
and Internal Trade and Telecommunications, Serbia exported annually
about 250 million of software, where the value of the entire Serbian IT
market is around 470 million euros.
It is a significant increase from 2007 when the value of exports in the
software industry was 62 million euros.
Serbia, as he pointed out, in the economic area approximately invests
EUR 60 per capita, which is level with Bulgaria and Romania, and is
significantly more than in Montenegro, Macedonia and Bosnia-
Herzegovina. With adopted state IT strategy in 2014, these
investments will be definitely higher as well.
July 2014

11.
www.puzzlesoftware.rs
New program of support for the IT industry, which is adopted by the
Government of the Republic of Serbia in March 2013, is a proof that
the industry of information technology is one of the most important
priorities of the overall strategy of domestic re-industrialization. These
steps will rank Serbia as the most attractive country in the region to
invest in the IT sector. Also, domestic software development
companies will be given support in order that Serbia had a better
export product.
Areas of Government support geared towards IT sector are: support
for startups; technology parks, incubators and clusters; tax breaks;
legal framework; investment incentives; institutional support and
export promotion.
July 2014

12.
www.puzzlesoftware.rs July 2014
http://siepa.gov.rs/sr/files/pdf2010/IT_
industry_CeBIT.pdf

13.
www.puzzlesoftware.rs
Agency for Foreign Investments and Export Promotion of the Republic
of Serbia (SIEPA) is organized for the tenth time performance Serbian
companies on the world's largest trade fair of information and
communication technologies – CeBIT 2013 in Hanover, Germany.
July 2014
Serbian minister of Finance and
Economy visited this IT event and
present a new program of support for
the IT industry.

14.
www.puzzlesoftware.rs
SIEPA also organized a performance of Serbian IT companies at the fair
GITEX 2013, DUBAI, UAE which is the largest fair of information and
communication technologies in the Middle East and North Africa.
Performance of Serbia as a partner country of the fair has significantly
deepened inter-state cooperation with the UAE, which is based on the
Law on Ratification of the Agreement on Cooperation between the
Government of the Republic of Serbia and the Government of the
United Arab Emirates, where it was established that the economic
cooperation between the two countries place especially in the field of
information technology.
July 2014

15.
www.puzzlesoftware.rs
In April 2013, an international conference of the IT market
development in Serbia was organized in cooperation with non-
commercial association of independent software vendors Russia and
Ukraine (ISDEF), whose president Dmitry Kurasev said that the two
countries since 2000 was done much to the development of IT
industry. He also said that many Russian IT companies already
operating in Serbia, so that it can be a bridge between the EU and
Russia.
The attendees of the conference were more than 80 representatives of
ICT companies from Russia, Ukraine, Belarus, USA, Germany, Italy and
the Netherlands, and consider about investment opportunities in the
ICT sector in Serbia.
July 2014

16.
www.puzzlesoftware.rs
In June 2013, Serbian Deputy Prime Minister and Minister of Foreign
and Internal Trade and Telecommunications and British Ambassador to
Serbia signed a Memorandum of Understanding in the field of ICT in
education and the development of economic and trade relationship
between the two countries. Serbian Deputy Prime Minister pointed
out that the document is a good precondition for British investment in
the IT industry in Serbia, as one of the most dynamic sector that has
great potential for development. Also, he said that Serbia has already
signed a similar memorandum with the U.S. and Azerbaijan.
British Ambassador to Serbia said he expects the intensification
cooperation between the two countries in the region will contribute to
increased investment in the IT sector in education. He added that the
British Council, in cooperation with the Ministry of Foreign and Internal
Trade and Telecommunications of the Government of Serbia, has
already launched several similar initiatives.
July 2014

17.
www.puzzlesoftware.rs
Lot of large companies, such as Microsoft, SKF Group, Adobe, Oracle,
Google, Hewlett Packard, SAP, IBM, Siemens, Intel, Cisco, NCR
Corporation, Erickson and the others, already have their development
centres in Serbia or use outsourcing services of the local Serbian IT
company. Good conditions for investments by foreign companies in the
IT sector in Serbia was recognized by one of the biggest IT companies
in the world – EMC, which operates in Serbia for six years and is
interested in new investment.
At the 13th Synergy, the largest IT conferences in the Southeast
Europe, Acting Managing Director of Microsoft in Serbia, Andreas
Hartl, confirmed that Serbian IT industry has great potential for
growth.
July 2014

18.
www.puzzlesoftware.rs
New program of Government support for the IT industry and its further
development has started to be realised in the end of 2013 and during
2014.
StartLabs Tech Accelerator was founded in Serbia, in 2013. Its goal is to
build a bridge connecting tech startups from Serbia and Western
Balkans to markets, experts and investors from the Silicon Valley.
July 2014

19.
www.puzzlesoftware.rs
Startit Fest was organized in May 2014. Managing director of SEE ICT
said that goal of Startit Fest is to show how to develop applications,
software and programs, in order to present them to the market and
how to sell them to the world. This is one of the leading businesses in
the developed world, and Serbia has a capable and innovative young
people who need particular support in this way to make connection
with the foreign IT market.
July 2014
There were over that 20 investors in IT projects at
the Startit Fest, as well as numerous of investment
funds such are Seedcamp (UK), Eleven (BG),
Launchub (HU), RSG (SLO), Speedinvest (AU),
Startlabs (RS), Kwame Corp (UK) and the others.
This was awesome opportunity for business connection and
interaction in the world of information technology. Eleven so far
invested more than half a million euros in Serbian startup

20.
www.puzzlesoftware.rs
Similar gathering – international FundraiseIT conference, was
organized in Serbia, also in May 2014. Belgrade was the centre of the
most prominent and global leaders of VC and startup communities.
The event was completed with Pitching event where eight prospective,
domestic and regional start up projects have been selected to pitch in
front of some of the world’s most famous investors and renowned
business angels from Silicon Valley and Western Europe.
In the press release in June 2014, Serbian Deputy Prime Minister and
Minister of Trade, Tourism and Telecommunications said that the
sector of information technology in Serbia cannot be further
developed without the help of the state, but noted that companies in
this field may expect the reduction of para-fiscal levies from the state.
July 2014

21.
www.puzzlesoftware.rs
According to PMR, a British-American company which providing
market information to international businesses interested in Central
and Eastern Europe, IT market in Central and Eastern Europe (CEE) will
increase by 4.5% annually in 2014-2018.
The value of the IT market in CEE totalled at €14.6bn in 2013, which
meant a growth of 2.5% compared to 2012. Against this limited rates
of growth which have recently characterised the CEE countries, the
faster increase of IT market is expected in the coming years.
July 2014

22.
www.puzzlesoftware.rs
 Who we are?
 Why Puzzle Software as your IT outsourcing partner?
July 2014

23.
www.puzzlesoftware.rs
Puzzle Software is a group of agile software experts specializing in
execution of tailored architectural and software solutions for large
corporations, both in Serbia and internationally.
Primary specialization is in Banking, Telecommunication, Insurance,
Software and Heavy Industry sectors. Likewise, our IT experts can offer
you particular business know-how and experience in other industries
as well.
July 2014
 Agile Software Development
 IT Experts Engagement and Consultancy
 Onshore/Nearshore/Offshore Software Outsourcing
 Scrum Education and Scrum Certification with the
Puzzle Software Business Profile

24.
www.puzzlesoftware.rs July 2014
We know that you need people who knows business and software
development in the same time. Also we know that you need a partner
to sell your product. With our knowledge in specific business area,
Software Development and connections in local market we can be your
partner who will help you deliver best quality product on market, and
in the same time become your point of sales for the Balkans.
Our philosophy
“Lets become partners!”

25.
www.puzzlesoftware.rs July 2014
We have deep knowledge in banking business and technologies, as
well as security protocols used in that industry. Some of the systems
we worked on are:
Experience in Banking sector
E-Banking, Collateral Management system,
Loans, Product pricing system,
International payments, Detailed
knowledge of swift protocol, Mobile
banking, risks and collateral calculations,
deep knowledge of BASEL II and ICAAP
standards...

26.
www.puzzlesoftware.rs July 2014
We have worked on development of insurance software from scratch.
In these projects, our developers and architects covered business areas
such are: Car insurance system, Life insurance, real estate insurance.
Experience in Insurance sector
Also, we worked on complete assessment
system which is used to cover and
calculate risk and other factors for
insurance policy value.

27.
www.puzzlesoftware.rs July 2014
Worked for project in fixed and mobile telephony such as CRM, Billing
and rating system, user transfer system from network to network, user
contract system, e-Commerce for mobile phones sales…
Experience in Telecommunication

28.
www.puzzlesoftware.rs July 2014
Our software experts covered complete steel making lifecycle in US
Steel Company in Serbia.
Experience in Steel making
We have deep knowledge in Blast
furnace system, Desulphurization
system, Steel shop systems, cold
row mill and hot row mill systems.

29.
www.puzzlesoftware.rs July 2014
Our IT experts created and implemented complete E-commerce
solution which is covering manufacturing system, B2B system and web
shop system with integrated Content Management System.
Experience in E-commerce

30.
www.puzzlesoftware.rs July 2014
Why to make Outsourcing and Sales partnership with us
 Your intellectual property is totally safe
 Software experts in business area you need
 100% agile software development using Scrum
 Software Development based on experience
 Profitable, effective and safe offshore outsourcing
 We can do the pilot project
 We can develop and sell your product
 We can give you flexible contract terms

31.
www.puzzlesoftware.rs July 2014
 Big pool of good software developers and architects
If you need developers that we do not have in our company at that
moment, we have several ways for quick employment according to
your requirements. We have partnership with several companies on
market which can give us required resources and we are members of
e-Development association of Serbia which is big resource pool for us.
More information at www.puzzlesoftware.rs/software-outsourcing

32.
www.puzzlesoftware.rs July 2014
Spider.NET DMS – Document
Management, MapaVodiMe
Banking Sector
Product Delivery, Cheque Reader 2012, Collateral
Management system, Workflow for Loans approval for
legal persons, Customization Tool, Document
generation tool, iBank, Product Catalogue and Pricing
module, P&L per customer, Loan portfolio automation
Telecommunication
Telenor Account, SelfCarePortal
Insurance Industry
Selfnet, Oyez WebInterface, Clains hub
LMF Alloying Model, New Lance Blowing Profile, BF L2
DB and Reporting, Hot Iron Desulphurization Model,
Slab Quality Code, BOP Alloy Model
Steel Heavy industry
Legal Sector
Oyez Gateway, Oyez WebInterface, IFLR1000
Commerce & Brand Digitizing
Brandbank Web Platform, E-commerce portals for
Australian company, Booking In application
Publishing Sector
Audience Development – ADvance (abacus e-media)
Health Care Industry
Insurance system for Military Medical Academy
(VMA)
Public Sector
Real Estate Cadastre Serbia – Government project,
Dositheus – education and science
Logistics, Distribution & Airline
FunShip Business Suite, The Airline Analyst
Other business sectors

33.
www.puzzlesoftware.rs July 2014
Excerpt of Puzzle Software’s references

34.
Name: Puzzle Software
Address: Jove Ilica 55
City: 11000 Belgrade
Country: Serbia
Vat No.: 107849973
Reg. No.: 20882956
Phone: +381 11 3911 245
sales@puzzlesoftware.rs
marketing@puzzlesoftware.rs
hr@puzzlesoftware.rs
scrum@puzzlesoftware.rs

35.
Thank you to your attention!
Source:
http://www.rts.rs/page/stories/sr/story/13/Ekonomija/1309260/IT+industrija+najzdraviji+deo+ekonomije.html
http://siepa.gov.rs/sr/index/podrska-izvozu/sajmovi/izvestaji-sa-sajmova/cebit.html
http://siepa.gov.rs/sr/files/pdf2010/IT_industry_CeBIT.pdf
http://siepa.gov.rs/sr/index/podrska-izvozu/sajmovi/izvestaji-sa-sajmova/gitex.html
http://www.rts.rs/page/stories/sr/story/13/Ekonomija/1309260/IT+industrija+najzdraviji+deo+ekonomije.html
http://www.srbija.gov.rs/vesti/vest.php?id=192047
http://www.srbija.gov.rs/vesti/vest.php?id=196401
http://www.dnevno.rs/biznis/98181-srpska-it-industrija-ima-veliki-potencijal-za-rast-navode-u-kompaniji-majkrosoft.html
http://startit.rs/
http://www.fundraiseit.rs/
http://mtt.gov.rs/slider/na-it-sektoru-treba-da-zasnivamo-ekonomski/
http://www.ceeitandtelecom.com/analysis/784/it-market-in-central-and-eastern-europe-key-trends-and-forecasts
http://www.puzzlesoftware.rs