Exactpro, a leading independent provider of software testing services for mission-critical financial technology, will launch its subsidiaries in Lithuania and Sri Lanka in 2021.
Commenting on the decision, Alexey Zverev, co-CEO and co-founder of Exactpro, says: "It has been a great honour for Exactpro to serve its clients worldwide for more than a decade. The past and future growth of our software testing delivery centres in Europe and Asia is an example of our commitment to being responsive to our clients' needs, including the need to have the presence of their trusted software testing partner in optimal geopolitical locations."
According to Doing Business 2020, a World Bank Group flagship publication, Lithuania ranks 11th out of 190 countries evaluated for ease of doing business. It also came 15th out of 178 countries ranked by The Heritage Foundation in its 2021 Index of Economic Freedom. The country boasts a young and talented labour pool, a business-friendly environment, a great quality-to-cost ratio, a world-class infrastructure, and a perfect living pace. Lithuania's focus on tech education helps it to further build its reputation as a highly attractive location for global tech businesses.
Sri Lanka with its attractive and pro-business environment is a pivotal global centre for doing business. Its sophisticated and transparent regulatory and legal framework offers safety of foreign investments. Several open-market free economic and trade policies as well as bilateral investment protection agreements with many countries makes Sri Lanka's economy one of the most liberalized in South Asia. According to a recent “Sri Lanka IT-BPM Industry: State Of The Industry 2019/20” report by PwC and Sri Lanka Association for Software Services Companies (SLASSCOM), the IT-BPM industry has been a key contributor within the Sri Lanka’s service export segment and “accounts for over 90% local value addition, delivering world-class IT products and knowledge services.” As Island of Ingenuity, a general audience website owned by the Sri Lankan Export Development Board, puts it: “From electric supercars to powering one of the most active stock exchanges in the world, Sri Lankan businesses are at the forefront of technological innovation.”
"Our research and prior experience of Exactpro staff working in Sri Lanka during business assignments show that the country is one of the best places in South Asia to conduct business. The country has many highly qualified professionals with extensive experience in many fields, including ICT, a fast-developing infrastructure, and a great quality of life. This makes Sri Lanka a natural choice for us to expand our operations into the region and be closer to a few of our key clients", says Iosif Itkin, co-CEO and co-founder of Exactpro.
Currently employing over 650 specialists, Exactpro is proud to have been able to attract and retain a team of experienced and talented specialists and looks forward to continuing the delivery of its services to clients out of both the existing and new locations.