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How Gera-IT Built Software Sold For $48.2m: Q/A with CTO Evgeniy Solovyov

How Gera-IT Built Software Sold For $48.2m: Q/A with CTO Evgeniy Solovyov

Bethenny Carl
Website Planet had the opportunity to speak with Evgeniy Solovyov, CTO & Business Development for Gera-IT, a software development company with over 200 successful projects delivered and 48.2 million USD generated from selling just a few of them.

We looked at how their approach to software development improves efficiency by 20-30% compared to in-house teams right now, and how Gera-IT plans to cope with the ongoing developments in AI and machine learning.

Let’s introduce Gera-IT to our audience. What services do you offer?

With 17 years of commercial experience, Gera-IT has been offering assistance in the development of top-notch software solutions for startups, SMBs, and enterprises.

We operate in various industries, focusing on Healthcare, Edtech, and Business process automation. Our team offers a complete project development cycle and team extension services to cater to our clients’ specific needs.

In addition to our services, we also have our own product, TestCaseLab, a cutting-edge QA test case management system.

The key strengths of Gera-IT are product design, a strong focus on quality, customer satisfaction, and an agile development approach.

Our expertise in product design allows us to understand each project’s unique requirements and develop tailored solutions that differentiate our clients’ products in the market

We always take responsibility for a product and tech vision, actively communicate with clients to provide them with the best possible options for evolving the product.

Our proactive approach, strategy development capabilities, and focus on business transformation differentiate us from the competition and enable us to deliver solutions that not only solve immediate problems but also unlock long-term value for their clients.

Our full-cycle software development service includes a comprehensive support system composed of several important resources:

1. Each client is assigned a dedicated project manager as their main contact point. This project manager is responsible for facilitating communication, managing the development process, and addressing any questions or concerns that the client may have.

2. We provide regular updates to inform our clients of their project’s progress and any new developments, ensuring they are always up-to-date.

3. We are always available to our clients via email, phone, or instant messaging. Quick response times are our top priority. Good communication with clients is key to a strong relationship.

4. We offer technical support services to assist clients in resolving any technical issues that may arise during or after the project development process.

5. Comprehensive training is provided to clients to help them fully understand and utilize their developed software or product. This allows clients to make the most out of it.

6. We offer post-development support, including bug fixing, software updates, and necessary modifications or enhancements to ensure seamless product use for our clients.

7. We understand the importance of resolving issues quickly and efficiently, and our team is dedicated to providing the best possible support to our clients.

Talking about support, at Gera-IT we utilize various strategies to maintain open communication with our clients and ensure that our team understands their expectations.

Firstly, we prioritize proactive communication by regularly checking in with our clients. This allows us to address any concerns or questions they might have and provide updates on the project’s progress. We take the initiative to provide regular updates and inform them of any potential challenges or changes that may arise.

Secondly, we have a comprehensive onboarding process for each project. This process includes thorough discussions and documentation of the clients’ requirements, goals, and expectations.

Thirdly, we foster open and transparent communication within our team. Holding regular team meetings allows team members to share any questions or concerns they may have. By creating a collaborative environment, we ensure that everyone is on the same page and understands the client’s expectations.

To maintain consistency in communication, we utilize project management tools. These tools help us track progress, assign tasks, and organize information. By centralizing communication through these tools, all team members have acc

We are also using innovative technologies such as IoT and AI/ML in the projects we develop. These technologies allow us to improve efficiency and provide valuable insights through data analysis and automation. For instance, we utilize NLP for chatbots to enhance communication with customers and computer vision for tasks that require image recognition and processing.

Numbers speak more than a thousand words here:
  • 17 years of commercial experience. We are on the market since 2006;
  • 100+ Clients served;
  • 200+ Successful projects delivered;
  • 50+ Team Members;
  • 57% of our clients stay with us for 5+ years;
  • 12 years – The longest current cooperation with the Client from the Healthcare industry;
  • 4.9 from 5 – Clutch rating (based on 19 reviews);
  • +20-30% to efficiency vs in-house teams (based on our internal statistics);
  • 98k+ Users used software developed by our engineers;
🔥 A few projects were acquired for around 48.2 million USD, but our tech teams still remain there.

How does your mission differ from other companies in your niche?

I joined the company 3 years after it was founded, and I have been continuously excited by the vision, mission, and projects we work on. Starting as an engineer and eventually becoming the CTO allowed me to understand every aspect of software development, giving me a unique perspective.

The gap in the market that we fill is the need for custom solutions. We combine maturity, tech skills, strong management, processes, and product ownership to deliver these solutions. We go beyond being just a software development vendor and often act as an external CTO with a dedicated team. We genuinely care about the projects we work on for our clients and strive to exceed their expectations.

Our unique approach and methodologies benefit clients in several ways:
  • Firstly, our project discovery phase provides a detailed understanding of requirements and potential risks, allowing for more accurate estimates and projections. This transparency ensures clients are aware of time and cost expectations.
  • Secondly, our budgeting process considers variables like quality control, team size, and complexity, providing clients with multiple options to make informed decisions. We also prioritize architecture and communicate potential evolution scenarios.
  • Our team allocation process ensures a highly skilled and compatible team is assigned to each project. We emphasize project management, proactive communication, and quality control for accurate and systematic delivery.
  • Lastly, we offer tailored delivery, production infrastructure, and support options to ease long-term management and support.
Our competitive advantages are the individual proactive approach to each project and the ability to create teams that are not only skilled but also culturally and mindset-aligned with our clients. Furthermore, our commitment to perfectionism sets us apart from our competitors. We strive for excellence in every aspect of our work, from project planning and execution to quality assurance and ongoing support.

What industries do you typically work with, and what are the common pain points your clients have when they come to you?

Our primary target market is two-fold. Firstly, we work with startups from the early stages. We understand startups’ unique challenges and requirements, and we are dedicated to providing the technical expertise and support to help them succeed.

We also serve established businesses by offering team augmentation or dedicated teams. We understand that businesses may have existing IT teams or projects that require additional resources or specialized skills. In such cases, we provide highly skilled professionals who can seamlessly integrate into their existing teams or work independently to deliver exceptional results.

In terms of industries or sectors, we have a strong presence in healthcare, education, and business process automation. These industries have been the most common in our portfolio due to their increasing reliance on technology.

The most common pain points faced by our clients are:

1. The scarcity of resources. Companies often struggle to find skilled developers and technical experts as well as capable managers for development and project management. To solve this, we offer flexibility in scaling the team up based on our client’s changing needs

2. The lack of technological skills and experience hinders from achieving business goals.

To help overcome this barrier, we provide our expertise and experience in technology, enabling our clients to make informed decisions and succeed in their endeavors.

3. Balancing cost and timely delivery;

In this case, we help clients understand technical aspects in simple terms, bridging the gap between technical and non-technical language to ensure clarity in project requirements and progress.

4. Data security and compliance with regulations.

Our team is well-versed in the latest security practices and technologies, helping our clients mitigate the risk of cyber threats and protect their sensitive data.

If a company chooses to ignore these problems, it will likely experience negative consequences such as:

  1. Financial Loss. Poorly managed outsourcing projects can result in cost overruns, delays, and additional expenses. This can have a significant impact on the company’s bottom line.
  2. Wasted Time: This can occur due to miscommunication, misunderstandings, and lack of alignment between the two parties.
  3. Lost Trust in Outsourcing: If a company has a negative experience with outsourcing, they may hesitate to engage in future outsourcing partnerships. This can limit opportunities for cost savings, access to specialized skills, and innovation that outsourcing can provide.
Typically, clients try to solve thjose challenges by working with freelancers or low-cost vendors. However, this approach often leads to a bad experience due to underestimating the resources required for development.

They eventually realize they need a better solution when they fail to achieve their goals, the solution doesn’t meet their expectations, communication with developers is problematic, or when they require specific skills or knowledge that their current vendor cannot provide.

Once they come to us, they are usually concerned about budget, project understanding, trust/credibility, and collaboration compatibility. Indeed, sometimes, our budget may look higher than competitors, but that’s because we cover all the details, risks, and realistic descriptions of the project’s future at the beginning of the project estimation. To establish trust and assess compatibility, we offer a short trial period for clients to try our services.

And what makes them eventually choose you over your competitors?

Our customers’ feedback highlights that the most beneficial attributes of our service are:

– Dedication;

– Proactiveness;

– Care for results;

– Strong processes.

Also, based on the customers’ reviews, the most valuable results are:

– Comprehensive documentation throughout the development process, ensuring clear understanding and transparent communication between all stakeholders.

– High-quality code that is well-structured, efficient, and maintainable.

– Analytical approach and technical expertise that assist in making important technical decisions.

– Following the plan set forth at the beginning.

While working with us, our clients can focus on other important processes within their projects, such as sales and marketing, as we handle their IT needs efficiently. We ensure our clients are not overwhelmed with technical tasks, allowing them to allocate their mental resources to more pressing matters.

Furthermore, we provide clear communication and transparency, enabling our clients to fully understand the ongoing developments and the current status of their projects. We always collaborate with our clients in challenging situations to identify suitable solutions. Overall, our approach allows our clients more time, clarity, and support, empowering them to achieve their goals more effectively.

More in general, based on the number of clients that come to us by reference, I want to believe our clients say something good 🙂 *

* Some of the references could be checked on platforms with verified reviews like Clutch and Goodfirms.

Can you share one success story from your customers?

It is hard to select one project from our portfolio. For 17 years, we have accomplished numerous exciting projects and faced equally interesting challenges. However, I think it is important to talk about our Remote Patient Monitoring system designed for Congestive Heart Failure patients.

The main challenges that our client faced were competition with existing systems, internal development of remote patient monitoring (RPM) solutions by competing systems, and ensuring HIPAA compliance for their healthcare solution.

Firstly, the prevalent systems in use by doctors are outdated yet popular and remain in operation due to the difficulty of transitioning historical data to new platforms. This challenges our client as he needs to convince healthcare professionals to switch to their system and overcome the inertia of using familiar systems.

Secondly, competing systems are starting to incorporate RPM solutions within their framework. This means that our client not only needs to differentiate their solution from other existing systems but also keep up with the latest trends in healthcare technology and continuously innovate to stay ahead.

Lastly, ensuring HIPAA compliance for the system is another major challenge. Healthcare providers are required to implement strict security measures to protect sensitive patient data. This involves understanding the specific requirements of HIPAA and implementing technical and organizational measures, such as encryption, access controls, and regular auditing, to ensure compliance. Failing to comply with HIPAA regulations can result in severe penalties and damage to the reputation of our client and their customers.

Our suggested solutions to tackle the challenges were:

1. We proposed developing migration connectors to integrate with the top 5 existing systems seamlessly. This would help facilitate data migration from these systems to our RPM solution without any disruptions or data loss.

2. We recommended collaborating with a select group of doctors to cultivate trust and establish a reputation in the healthcare industry. By working closely with these doctors, we could gain valuable insights and feedback to improve our solution and make it more appealing to other healthcare professionals.

3. We focused on establishing connections with other providers while carefully tracking the financial costs within our financial model. We also prioritized integrating with the FHIR/HL7 protocol, as our expertise in this system would ensure seamless integration and efficient financial planning.

4. The monetization strategy and user experience of each RPM solution would be shaped by the specific niche it caters to. We considered the example of cardiologists, where time tracking is crucial for compensation tied to insurance systems, and developed a solution to facilitate seamless and accurate time tracking, ensuring compliance with legal requirements.

5. Making the software HIPAA compliant is a complex task, especially if the team has no previous experience with it. We proposed creating a plan and prioritizing the milestones that should be implemented first. This would involve implementing various processes in development and policy to meet the requirements and recommendations of HIPAA.

The client came to us with a vision of using technology to develop digital solutions that could improve the quality of life and enable people to live independently for longer. However, they lacked the technical expertise to implement this vision.

After 5 years of successful partnership, the idea evolved into a complex technological system, which includes a web platform, mobile app, android tablets, and medical devices for measuring vital signs.

What were the specific improvements – it is better to ask directly to the project’s owner.

From my perspective, the main improvement is that they now have a trustworthy partner in Gera-IT. They can rely on us for all technological inquiries, documentation, and hiring of development teams, allowing them to focus on essential medical aspects that enhance patients’ quality of life.

What challenges and opportunities do you see in the future of your industry, and how do you plan to cope?

In the future, the main challenge in our industry will be to keep up with the rapid advancements in AI and machine learning. As more tasks are outsourced to smart services, it will be crucial for us to stay at the forefront of these technologies in order to provide the best solutions for our clients.

One opportunity from this trend is the ability to automate routine tasks, freeing employees to focus on more strategic and creative work. This will lead to increased productivity and efficiency in the industry.

To cope with these challenges and capitalize on the opportunities, our plan is to invest in growing skills and expertise in working with modern AI models and tools. This will involve continuous learning and training for our team members to ensure they are up-to-date with the latest advancements.

Overall, the future of our industry looks exciting, and this is awesome, as our mission was and is to provide cutting-edge technologies for those who need them.

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