Connections Consult achieves 177 Million Lei revenue in 2023, marking 203% growth and net profit of 11.2 Million Lei

 

Connections (CC), a digital transformation company listed on the AeRo market of the Bucharest Stock Exchange, has increased its revenue by 203% in 2023, reaching 177 million lei, while net profit has surged by 162%, surpassing 11 million lei.

These results encompass the activities of all companies in which Connections Consult holds stakes (Connections Consult – 100%, Connections Technologies – 100%, Outsourcing Support Services – 100%, Brusch Services – 100%, Connections Serbia – 100%, Connections Bulgaria – 100%, 10Plus – 25%), with the most significant contribution to growth coming from Software Development and Integration services provided by the issuing company.

In 2023, Connections’ focus was on acquiring new clients and enhancing the relevance of projects in terms of technical complexity. Internally, attention was directed towards strengthening corporate governance and carrying out initiatives to increase capital through free share issues at a ratio of 1:10, completed in August.

The company’s development strategy aimed at both short-term results and the medium-to-long-term consolidation of its market-leading position in complex digitalization projects.“Last year was marked by turbulence on a global scale. The world economy and geopolitical status quo faced various uncertainties, compounded by the rapid growth of artificial intelligence in technology, posing significant challenges to economic actors across multiple sectors. Nevertheless, for Connections, 2023 proved to be the best year in its history so far, marking several essential milestones for the road ahead – from revenue, which nearly tripled the estimates from the listing memorandum, to the successful initiation and completion of two highly complex projects (8 million euros and approximately 10 million euros), with significant impacts on clients and, by extension, on society. Additionally, it underscored the consolidation of expertise as a technology integrator, providing us with a strong edge in the tech industry,” stated Bogdan Florea, Founder and co-CEO of Connections.

2023 also brought a significant growth in the team’s competencies, directly impacting the revenue and profit structure.

The proposed revenue and expenditure budget for the year 2023, as well as the estimates outlined in the listing memorandum on the AeRO market, were surpassed significantly, both in terms of revenue (116%) and net and gross profit (102% for both).

Throughout 2023, all verticals of the group experienced leaps between 5-10%, with a spectacular growth (549%) in the RPA and software development division.

Thus, the largest contribution to the growth in 2023 came from Software Development and Integration services, which accounted for 73% of the group’s total revenue, compared to 36% in 2022.

In addition to expanding the client portfolio, enhancing the relevance of projects undertaken, and boosting internal team competencies, in 2023 Connections Consult continued to explore opportunities for acquiring stakes in new companies with potential.

We collaborate with two companies specialized in M&A and continuously monitor potential acquisitions. The M&A market context still maintains high expectations following the sharp growth observed in the years 2019-2022. However, we have chosen to exercise caution and refrain from engaging in advanced discussions with target companies throughout the past year. In our opinion, valuations remain unrealistic and do not justify the investment demands from sellers at this time. Nevertheless, we remain open to realistic investment opportunities in fields such as cybersecurity, custom software development, AI, and ERP system implementation,” stated Radu Marcu, co-CEO of Connections Consult.

In 2024, Connections aims to take its first steps towards accessing the main market of the Bucharest Stock Exchange (BVB), strengthening corporate governance, and preparing the company for the transition to IFRS reporting. Strategic development will continue this year with the support of the newly established Advisory Board and by expanding the Board of Directors with two additional seats, providing a much stronger mechanism of checks-and-balances at the management level. Additionally, the company’s leadership plans to host investor events aimed at enhancing investor confidence and transparency in Connections’ operations, as well as fostering solid partnerships with key players in the stock market. This includes transitioning to quarterly financial reporting starting in 2025.

The comprehensive report detailing the 2023 Financial Results is available for consultation at the following link.

Connections integrates AI into one of its products for the first time: ID Scanner for all types of documents

Connections, a leader in Romania’s digital transformation market, listed on the AeRO market of the Bucharest Stock Exchange (BVB) under the symbol CC improves the way data is extracted from all types of documents, with the launch of the latest version of its ID Scanner application equipped with artificial intelligence. 

In the process of digital transformation of companies, the demand for software solutions that scan documents to extract information using artificial intelligence has grown significantly over the past year and continues to grow.

According to data recorded by Connections Consult, interest in solutions of this type has seen an increase of over 200% since the previous year – 2020, when the company launched ID Scanner, the first such application on the market. As of 2024, the app is running in a new artificial intelligence-based version, with expanded functions that allow scanning of any type of document, including those not in standard formats.

“ID Scanner is aimed at companies that want to integrate a scanned document processing component based on AI technology into their existing or soon-to-be-developed systems. The Connections team puts cybersecurity first when it comes to product development, as it is an essential component when it comes to accessing personal data and beyond”, says Radu Marcu, Connections co-CEO. 

The ID Scanner application can be easily integrated into IT ecosystems implementing complex business workflows.  

One of the strengths of this software solution is the integrated AI technology, which allows scanning all types of documents. European passports, driving licenses, or new format ID cards are just a few examples of documents whose information can be quickly extracted with ID Scanner. I. It can also process even untyped documents, which until recently was considered impossible. This means that information can be extracted from invoices, consumption receipts, balance sheets, or any other type of document.

The IDScanner application has been designed in such a way as to ensure maximum data protection, which is why all documents are processed in a virtual environment, so that they never come into the possession of Connections.

Connections continues to invest in technologies such as AI-based technology and the highest level of working standards. Recently, the company has achieved a new certification in RPA (Robotic Process Automation with Software Robots), becoming a USN partner. This status confirms that Connections professionals have the right level of expertise and can deliver state-of-the-art RPA implementations consistently at the same level as the UiPath Professional Services team.

2024 News: Connections obtains UiPath USN Certification

The Connections team has achieved a new recognition and, starting in 2024, is a certified USN partner of UiPath, one of the top providers of RPA (Robot Process Automation) technology.

The new certification demonstrates the standard and competencies of the Connections team in delivering hyper-automated solutions for companies and is part of the continuous growth strategy of the internal team’s competencies.

The UiPath USN technology partnership program is an open ecosystem that brings together an elite network of business partners, offering a wide range of services that clients can rely on when seeking competent leaders capable of providing references and sharing best practices. Partners have the opportunity to consistently deliver state-of-the-art RPA implementations with the same level of expertise as the UiPath Professional Services team.

“The digital transformation is the primary tool that currently keeps any business on the path of growth and modernization, being the main differentiator in an increasingly competitive world that utilizes advanced technological solutions. By obtaining the USN accreditation from UiPath, our team elevates the standard of work in our client relationships, enhancing accuracy and scalability. We are pleased to offer our collaborators, with the assistance of UiPath, top-notch RPA solutions, leveraging our entire experience in business process automation and supporting their efforts for growth and differentiation in the market,” says Radu Marcu, co-CEO of Connections.

The USN partnership program defines the level of competence of the best implementation partners along with ensuring that all USN members have the appropriate level of competence and are ready to provide professional services at the same quality as UiPath.

HR Challenge: Why automation when we have talented people in the team?

To be or not to be, that is the question. Talented individuals working efficiently or automated processes? Or a mix of both? 

As long as we have talented individuals in the team, who do their job well and deliver results, why invest in technology or robots? What does automation help us with, as long as things are functioning well without it? 

The answer is simple: to retain our talented people in the team, to develop them, and to invest in them for the highest return on investment, ensuring they have a high level of satisfaction. The quality of people’s work and their satisfaction level at the workplace are essential pillars in the entire ecosystem of a business – from the quality of relationships within the team to the ability of individuals to deliver projects at the highest standard, with a direct impact on the quality of relationships with clients. 

Who is afraid of technology? 

The labor market has been experiencing, for years, a phenomenon felt by every Human Resources department: difficulty in the recruitment process, attributed to a high demand for professionals in the market. Remote work becomes an increasingly important criterion when it comes to choosing a new job; moreover, employees feel the need to be valued and connected to the organizational culture, no matter where they work. 

Perhaps counterintuitive in some instances, all these factors have a common and accessible solution: technology makes people choose companies where they work in a modern, efficient manner, where there is no need to allocate hours to a repetitive task. Technology enables remote work without disconnecting from the pulse and updates of the organization, providing the time and mental space needed to come up with new ideas, approaches, and solutions in business relationships with collaborators. 

As repetitive tasks disappear, people are motivated to become the best version of themselves. They have a real opportunity to showcase their value, space to learn new things and put them into practice, and can respond to new technological challenges that can take them and the organization to the next level as professionals. 

How often has it happened that you recruited someone with significant growth potential? And, after these candidates with potential have become team members, how many of them have truly reached their potential? 

Certainly, growth is a time-consuming process, we would say. But it takes even longer if the first 3 months are for enrollment, the next 6 are filled with repetitive tasks, and only after 9 months of hiring does the person begin to focus on indicators. 

The first year on the job is about getting used to the new work environment; the team leader does not have the possibility to grow the team, and the new employee already has low motivation because they couldn’t prove their qualities. The organization grows more slowly than it could, even though it has experienced and talented people, as well as juniors with potential. 

A vicious circle that technology can transform into real growth: everyone gains time and space for development, reaching a high level of job satisfaction. 

It’s worth mentioning that an employee with access to advanced technology becomes a spontaneous brand ambassador in discussions with other professionals. These brand ambassadors feel more empowered overall, which will be reflected in the quality of the organizational culture. 

Let’s see what the statistics say… 

In Romania, a third (35%) of companies face challenges in recruiting personnel, and 41% struggle with the lack of skills needed to meet current requirements, according to the Deloitte Global Human Capital Trends 2023 study. 

To overcome these challenges, companies are adopting strategies such as ‘workforce ecosystems,’ integrating consultants and subcontractors to complement the traditional workforce. The digital transformation of a company becomes a key element in this equation, with 30% of study participants mentioning the implementation of technological solutions and artificial intelligence to optimize human resources. 

A McKinsey study also indicates a significant increase in the adoption of generative artificial intelligence, confirming the regular use of AI in one of the departments of organizations for a third of respondents. 

What do these figures reveal? 

That recruitment is becoming an increasingly challenging process, making it harder to retain talents within organizations. 

That it would be beneficial to give our people the necessary space for growth. 

That adapting to the new market needs and ensuring employee retention become major challenges for any company aspiring to remain competitive and claim new growth territories. 

Some of these difficulties may stem from the reluctance of many organizations towards technology. 

For leaders who have yet to prioritize the digital transformation of their company: to what extent is the technology used in your companies a differentiator in recruitment? 

TechSession #52 – An evening in the Oracle universe

Romanian Oracle User Group (RoOUG) is organizing a new event within the TechSessions series, aiming to bring together enthusiasts of Oracle technologies.

Edition #52, hosted by Connections Consult, offers Oracle product users the opportunity to delve into the latest developments in Oracle technologies alongside two industry veterans: Valentin Robu, with 20 years of in Oracle systems administration, and Alberto Antonie, with a 20-year background in complex Java Enterprise projects.

The event is scheduled for February 29, 2024, starting at 18:00, at the Connections Consult headquarters, 71 Buzești Street.

Participation is free, subject to available seats, but prior registration is required.

EVENT AGENDA:

18:00 – 18:15: Arrival and Registration

An opportunity to meet participants and initiate interactions.

18:15 – 19:00: Valentin Robu | GoldenGate Microservice new paradigm

19:00 – 19:15: Break

An opportunity to socialize and connect with professionals passionate about Oracle technologies.

19:15 – 20:00:Alberto Antonie  | Observability – pillars, principles, good practices in

the world of microservices with hands-on example

ABOUT THE SPEAKERS:

Valentin Robu is an Oracle engineer with 20 years of experience in administration and support. He has a background as a programmer and database administrator.

His expertise covers database replication solutions (GoldenGate), database migration and upgrades, Database & SQL tuning, as well as backup and recovery policies in disaster situations.

Valentin is actively involved in volunteering for Oracle Academy, where he teaches and organizes workshops and seminars on technologies related to Oracle databases.

Alberto Antonieis a technical team lead at Luxoft DXC Technology. His core value is being a lifelong learner with a focus on progress rather than perfection, and he follows the split-apply-combine strategy approach.

With 20 years of experience in complex Java Enterprise projects, he initiated his journey with an ERP project and subsequently engaged in e-governance projects for a decade. Over the past 7 years at Luxoft DXC, he has been dedicated to banking projects.

Within his role, Alberto frequently dons the solution architect hat, immersing himself in architectural thinking. He collaborates with team members and peers on frameworks, design patterns, and best practices to establish a connection between business change/requests and technology solutions. His objective is to delineate each phase and requirement necessary to ensure the effectiveness of the solution.

HOW TO PARTICIPATE:

Considering the limited number of seats, to ensure your access to this event, please register by sending an email to contact@rooug.ro with the subject TechSession52-Registration and specifying:

  • Name
  • Company
  • Position in the company
  • Phone number

In case the maximum number of registrations is reached, participant selection will be based on the already known criteria, which can be consulted here.

We invite you to join us at TechSession#52 and stay updated on the latest innovations in the Oracle universe!

Enhancing operational efficiency through IT services outsourcing

CLIENT: With an extensive presence across over 700 locations in Romania and over 8,000 users, the client made the decision to outsource their IT support activities. This choice allowed them to focus their efforts on core operations, the extraction, and marketing of petroleum products.

PROJECT: The client aimed to outsource complete management of hardware and software faults, IMAC operations (Install & Move & Add & Change), network services, as well as ticket allocation and management to the support team. These activities were provided both remotely and on-site. Additionally, reporting and managing response times (SLA) and performance indicators (KPI) were included in the project scope.

APPROACH: From the initial stage involving a detailed analysis of existing services to the final implementation stage, the technical details of adopted technologies were explored. Strategies for managing essential services were laid out to implement a scalable and efficient solution.

SOLUTION: To meet these requirements, the Connections Consult team opted for a multi-stage approach:

Documentation: The current state of services was extensively documented using Business Process Management (BPM) techniques. This method formed the core of the implementation process, enabling detailed analysis, service mapping, process redesign, technical implementation, and continuous governance, ensuring efficient deployment.

Analysis and Calibration: This involved reevaluating and redesigning services where necessary, considering identified challenges and optimal implementation methods.

Deployment: IT and telecommunication systems were selected and implemented, including the ServiceNow platform for efficient ticket management and workflows.

KEY ELEMENTS

SLAs were a crucial component of this implementation, establishing parameters and standards for response and resolution times, among other aspects of the services provided. Examples of SLAs include response and resolution times job tickets, response times for incidents based on priority levels, and completion times for IMAC operations.

Adhering strictly to SLA timelines, we provided the client with both technical support and an exceptional service experience, with rapid solutions for critical incidents, efficient online interactions, and a minimum 97% ticket resolution rate within our service sphere.

In addition to technical implementation, special attention was given to Governance, ensuring compliance with client standards and objectives. This involved continuous service quality review to identify and rectify any deficiencies, thus maintaining high operational standards.

The implemented solution brought operational benefits such as reduced resolution times and increased efficiency, contributing to the client’s commitment to quality standards and services offered. By successfully integrating cutting-edge technologies and service management practices, the client solidified its position as a leader in the oil and gas industry, adeptly adapting to the challenges of a constantly changing digital world.

APPLICATIONS AND PLATFORMS USED

Cutting-edge technologies were employed, focusing on efficiency and scalability. The ServiceNow platform played a central role in efficient ticket management and workflows, along with a suite of applications covering various aspects of IT support, from hardware and software fault management to IMAC operations, including:

  • NETWORKING: OSI, TCP/IP Networking
  • PROGRAMMING: Scripting
  • USER ADMINISTRATION TOOL
  • CLIENT TOOL OUTLOOK: (Microsoft Outlook/Outlook Exchange/Microsoft Office 365) – Mailbox, PST, OST, Archiving, Public Folders, SMTP, POP3
  • MICROSOFT ACTIVE DIRECTORY
  • MICROSOFT Exchange Anti-SPAM, Anti-Virus, Backup Solutions
  • APPLE: Software Support

IMPLEMENTATION TEAM

The implementation process was coordinated by a dedicated team of professionals from Connections Consult, specialized in various fields such as IT infrastructure, service management, and cutting-edge technologies.

The team contributed their expertise to ensure seamless integration of proposed solutions within the client’s existing infrastructure, generating added value for them and supporting business objectives.

IMPACT

Over 8,000 client employees rely on advanced technical solutions in their day-to-day activities.

The end-of-year challenge for the industry: How do we keep our employees motivated?

In an ever-changing economic landscape, starting from November 2023, IT companies are facing challenges related to tax modifications: the elimination of tax exemption on incomes exceeding 10,000 lei gross and the optional contribution to the second-pillar pensions, which has become optional for the period 2024-2028.

This has a significant impact on the IT industry, where approximately 80% of employees surpass the tax-exempt salary threshold, according to the data provided by the National Association of Software and Services Companies (ANIS). Moreover, the average net income in the IT industry was 10,419 RON in August 2023, as reported by the National Institute of Statistics.

With these measures in place, companies must discover new ways to retain their current employees while also attracting young talents.

Concerning Connections, where a significant number of employees are directly affected by the new tax regulations, the company has decided to absorb the additional salary costs, ensuring that the net incomes of team members are not negatively affected.

“We are aware that these changes can significantly impact our colleagues’ incomes. Therefore, to ensure that our team remains motivated, we have decided to shoulder the additional costs generated by these new tax provisions. We will cover the tax difference for our employees by adjusting gross salaries, and this step represents a firm commitment by our company towards our employees’ financial stability and, most importantly, providing a predictable work environment. At present, a significant percentage of our colleagues benefit from this measure that we have implemented internally. Regarding the optional contribution to the second-pillar pensions, this, too, will be compensated by the company,” stated Radu Marcu, co-CEO of Connections.

Meanwhile, some IT companies resort to restructuring and workforce adaptations to cope with the new economic conditions, as indicated by the BestJobs recruitment platform.

“Professionals in this field are very attentive to the benefits offered by employers. In light of the new tax measures, we believe that our proactive approach in compensating for the additional costs will play a crucial role in retaining and attracting top talents. Through this initiative, we aim to convey a clear message: our commitment and the well-being of our employees are our priorities, and investing in people is essential for long-term success.” added Radu Marcu.

The company currently employs over 350 individuals and has recently opened 10 new positions, all holding key roles with a high specialization in the field of technological competencies.

The job openings in recruitment can be found here.

Meet our Connectors. George Radu, The MultiTasker

George Radu. The MultiTasker

In any room, there’s a person who stands up first to answer the door when someone knocks. In our case, that’s George, a tech enthusiast and the jack-of-all-trades. ‘Every digitalization project I work on is a personal challenge. If you want to grow, then step out of your comfort zone,’ he says. George’s story, the one who spontaneously raises his hand to the toughest challenges, can be read below.

Who is George Radu?

A technology enthusiast, whose story began with his first visit to an Internet café 😊 (an explanation for tech natives: long ago, in the ’90s, internet access was only possible this way). Since then, some years have passed, and his passion for technology has become a full-time job alongside the Connections team.

In the approximately 15 years of working in the IT field, he has done and been through a lot, from being a Community Manager in the gaming industry, to an Account Manager for antispam solutions for web hosting companies, to an Enterprise Account Manager for chatbot solutions, and eventually a Business Development Manager for Connections. The IT industry solutions and services he has interacted with throughout his career have helped him develop technology consulting skills that he uses today in interactions with Connections’ clients and partners.

‘I am fascinated by everything related to technology, from software development to exploring the cosmic space. I keep up with every significant technological progress and discovery; I subscribe to numerous technology news sources and magazines, dedicating a considerable part of my time to it.’ says George.

Since when Connector@CC?

I joined Connections Consult in October 2020 for two significant reasons. The first reason was my resonance with George Nita, who at that time held the position of RPA Manager at Connections Consult. I was drawn to his expertise and his unconventional and innovative approach in the field of business process automation.

The second major reason was my meeting with Bogdan, the founder and CEO of Connections. I was impressed by his ‘western’ thinking and his growth-oriented vision. Although we’re talking about an industry where innovation is a driving force, it’s rare to find a CEO in Romania who adopts such a progressive vision and is so open to innovation—those who have explored the field know what I mean.

Why did I continue to stay in this team?

Because we all approach technology similarly: we view digitalization as a powerful tool that can free people from monotonous and repetitive work, and has the ability to pave the way for mental and creative energies to generate greater value, elevating things to a new level. Technology can create a virtuous cycle that brings concrete value into our lives as individuals and professionals.

What do you specifically do at Connections?

I handle Business Development, or more specifically, my role is to aid in the company’s business growth, both by identifying new opportunities locally and internationally, and by maintaining and developing existing partnerships. In other words, when I’m not already in meetings with the company’s clients, I strive to find new business strategies to attract new clients for the projects in their initial stages. And for this, I benefit from working closely with multidisciplinary teams within Connections, ranging from project managers, marketing, development, legal, to top management.

This multi-disciplinary perspective offers me unique opportunities and aligns well with my personality. I’m constantly passionate about new things, innovative tools that make our work easier, and discussions with colleagues from various departments challenge me to discover new ways in which I can help the organization work better and more efficiently. I strongly believe, and I have practically validated, that professional and personal development opportunities arise from situations that are less comfortable. Those situations make you know your limits, push past them, and explore further.

3 essential impacts of technology in your life.

Communication: For me, one of the crucial aspects is communication. Technology has created numerous channels through which I can converse with clients, collaborators, and colleagues. Whether it’s during work hours or leisure time, there’s always an application that makes communication easier and more efficient for me, changing the way I interact with the world around me—for the better, as it no longer matters where I am, I can stay connected. 🙂

Utility: I mention it as second, but it’s equally important. For 90% of my activities, whether work-related or in my free time, I find an application or a technological solution that makes my respective activities more efficient. You feel more in control and relaxed when you know you can manage almost anything with ease and speed.

Access to data and facilitating learning: Someone once said that if you were to show a smartphone to a person from the 1800s, they’d likely consider it a magical object. The idea of being able to access practically any information in just a few seconds seems truly remarkable to me. Technology has brought us into a ‘vast ocean of information,’ providing an invaluable resource for learning—and the effects are visible and will continue to be seen in all areas that involve continuous learning, research, and access to global experiences.

If the IT industry were to organize a global roundtable discussion, what would be the top subject on which they should agree?

In my opinion, the IT industry is at a crossroads similar to the situation faced by scientists who developed the nuclear bomb. Today, the major challenge in the IT world is the development of General Artificial Intelligence (AGI), which can have a significant impact on how we live.

The key decision that needs to be made is whether research on AGI should continue at the current accelerated pace or if certain limits and restrictions are necessary in this field so that each step in AGI development consistently aims to protect human interests and undergoes an ethical filter to prevent it from becoming a threat to society.

Binary code reflections: If digitization were a character, what would it look like?

I don’t think I could categorize digitization into a specific character type. I see technology more as a revolution, much like the industrial revolution in the early 19th century or the WWW revolution that essentially changed society from individual lifestyles to how the global economy functions.

This new revolution comes armed with machine learning algorithms and artificial intelligence, which we will use to anticipate human needs and provide solutions to complex problems we face in the 21st century. Essentially, digitization will cause a pivot in all structures of modern society to make the world more efficient, smarter, and help us evolve towards a better future.

Message to a beginner tech enthusiast: What would you say?

The IT industry is extremely dynamic, with a vast array of technologies emerging and evolving constantly. This dynamism is reflected in the fact that IT has been rapidly adopted in all other industries. A simple message for a beginner in IT would be: ‘Stay curious and embrace new challenges; every line of code can shape the world we live in! ‘ 😊

Romania, among the top countries that hire women with degrees in Information Technology and Communications (ITC)

The importance of ITC studies for finding the best job possible is determined by the increasingly prominent role of technology in almost all aspects of our lives. 

Although the latest statistics show that, at the European level, men with ITC degrees are overwhelmingly employed compared to women, Romania is among the top countries hiring women with degrees in this field. 

This is a topic that companies should take into consideration as a self-assessment milestone, and it’s equally important for young individuals who are just starting or at intermediate stages of their careers. Whether it’s a technical role, such as programming, or a more strategic role, like IT management, ITC knowledge and skills are in demand in various industries and represent an asset for career prospects. 

Growing Demand for Individuals with IT Education 

According to statistics provided by Eurostat, in 2022, there were 3.0 million people employed with IT education in the European Union, which is 6.7% more than in 2021 (2.8 million). 

This indicates that an increasing number of individuals understand the importance of keeping pace with technological advancements and are inclined towards acquiring knowledge in this direction and subsequently finding employment in this sector, as evidenced by the overall growth rate of IT employees. Thus, the percentage of IT employees in the EU increased by 11.5% in 2022. The number of active male professionals in this field is 2.5 million, which is 7.1% higher than in 2021, while the number of women employed in this sector has grown by 4.4%, reaching 463,100 individuals. 

Regarding EU member states, Slovenia (93.0%), Latvia (91.0%), Poland (90.3%), the Czech Republic (89.9%), Belgium (88.7%), and Slovakia (88.5%) had the highest proportions of male employees with IT education. 

At the top of the list of countries with the highest number of women employed with IT education are Bulgaria (31.5%) and Denmark (31.3%), with nearly equal proportions, followed closely by Cyprus (30.2%) and, with a slight difference, Romania (29.9%). 

The Snowball Effect 

The percentage gap generates reluctance among women when it comes to taking on such roles. According to the “Women in Tech” report, conducted in 2021 by the global cybersecurity company Kaspersky, over a third of women working in the IT and technology industry worldwide believe that the absence of women in their sector has made them cautious about entering the profession. 

Fortunately, statistics seem to be improving year by year, and gender perceptions are also changing for the better. Kaspersky also conducted a new report, which revealed that 56% of women working in IT globally agree that there are now more women in 

IT and technology roles in their organization than two years ago. Additionally, 7 out of 10 female respondents who participated in the study believe that their skills and experience are more important to employers than their gender. 

In the end, we shift our attention to our own organization and are pleased to observe that professionalism disregards gender: in 2023, 46,5% of the Connections team is comprised of women, while in the management teams, the percentage rises to 55,6%. 

 

Connections Consult HQ relocation. A big move for bigger achievements

We are pleased to announce that our company’s headquarters has moved to the address below: 

Connections Consult S.A. 

New Address: 71 Buzesti Street, 7th-8nd Floor, 1st District, Bucharest, Romania 

Telephone switchboard: 0372 368 332  

Google Maps: https://maps.app.goo.gl/cgFAnTUbSBA71c4v8  

This will be our new home from where we will continue to grow the team “Transforming Business. Digitally.” 

Why a new headquarters? 

As Connections Consult continues to grow, we are excited to be able to expand our workspace with a better place for our employees by increasing the number of meeting rooms and open workspaces. As our team continues to grow, we need more space to accommodate everyone.