Production of IT services in Belarus to exceed $1bn in 2014

        In 2014 the production of IT services in Belarus will exceed $1 billion, BelTA quotes Yevgeny Radionik, Head of the External Communications Department of the investment company UNITER, from the 11th international forum on banking technologies BankIT. In the future Belarus’ IT industry will keep its growth potential. “We expect that the production of services will exceed $1 billion in 2014, an increase of 24%,” noted the expert. By 2018 the total production of IT services in Belarus will approach $2 billion. “The key trends will be the transition of some companies to the business-to-consumer model (B2C) and the reduction of the profitability of companies using the business-to-business model (B2B),” added Yevgeny Radionik. The expert said he believes that outsourcing will exhaust its growth potential soon. As a result, the growth of the production of services by companies using the outsourcing model will slow down.
      While ten years ago the profitability of such companies was close to 100%, today it is as low as 15-25%.