Riding the wave: Software Sauna’s H1 insights
In recent months, headlines like “Unprecedented Decline in the IT Sector” and “Software Agencies on a Downhill Slope” have been making waves across media and social media platforms. Every other article shouts about how digital service providers face layoffs and an overall downturn. But how much of this is reflective of the actual situation? Let’s take a look at our H1 insights here at Software Sauna!
The media frenzy
According to various reports, the IT landscape, especially software businesses and agencies, has been hit hard by a sluggish economy. With less investment in digital solutions, there’s been a reduced demand for developers. This has led to numerous layoffs, creating an influx of available developers in the talent market. Suddenly, you have highly skilled professionals actively seeking new opportunities, which is quite a shift from the previous high-demand, low-supply scenario.
A silver lining?
Let me paint a picture of how I see it at the moment. The poor economy has led to a need for more investment in digital solutions, resulting in less need for developers. Consequently, corporations and agencies had to react, leading to an increased number of available developers in the market.
I know Python, and I am a great team player!
This influx of talented candidates has kept recruiting executives on their toes. You can almost feel the enthusiasm in their applications: “I know Python, and I am a great team player!” Personally, I find this development quite exciting. Eager developers with a perpetually junior mindset are the backbone of any thriving software agency.
With fewer projects and more competition, it’s understandable why the media is taking notice. On the surface, it appears to be a near-impossible market to thrive in. However, is this truly the case for all software agencies? Not quite, at least from our perspective!
How did Software Sauna sail through the windy waters?
At Software Sauna, we’ve experienced a different reality. Despite the challenges posed by the current market, we’ve managed to survive and thrive. Here are some numbers comparing last year’s H1 to this year’s H1:
- Customer meetings: increased by 51%
- Revenue: increased by 15%
- Profitability: increased by 59%
Yes, you read that right. Our profitability has seen a 59% increase. While we reluctantly admit that the market has been difficult, there’s been a massive demand for quality nearshoring services. The traditional status quo of software consulting has been disrupted, and tech leaders actively seek new ways, solutions, and partners to enhance their capabilities.
Conclusion
While it’s easy to get caught up in the doom and gloom painted by media headlines, it’s essential to look at the bigger picture. Yes, the IT sector is facing challenges, but these challenges also present opportunities for growth and innovation.
By staying as adaptable and forward-thinking as the people at Software Sauna are, companies can turn these challenges into opportunities for success. Now, those people – including me – have earned a small summer break!
Embrace the sun, have a few cold ones, enjoy your loved ones, and let’s see what H2 has to offer. Živjeli!
