There are 9 Companies in Lithuania
that provide Business Consulting Services!

In the past 10 years, Lithuania developed its IT industry and infrastructure. Projects like e-Lithuania, e-residency, and VR Lithuania among others, transformed the country into a fully digitalized hub in the Baltic region. 

The IT sector itself plays an important role in the Lithuanian economy, registering a 739 millions Euros turnover in 2020. Also, ~4.0% of the entire Lithuanian workforce is enrolled in the IT industry, for those 4200+ digital companies that export their services in 130 countries. 

Why working with Lithuanian IT companies

Essential e-solutions in Lithuania that enable the digital society to function smoothly were all built by local Lithuanian companies. This enhances the reliability of Lithuanian IT companies not only locally but also worldwide - about this we will relate a bit later. 

The already built digital system in Lithuania, already tells a lot about Lithuanian IT companies that perform excellently, and are becoming more and more attractive not only for companies but also for skilled professionals that are enjoying preferential conditions. 

So, after all, why you should work with Lithuanian IT companies?! 

• Skilled workers - that provide high-level digital services

• Open market - that facilitate and ease the access to IT resources and companies services

• Low taxes - compared with other European countries, Lithuania helps local IT and tech companies generate sales, by cutting taxes - which can reflect a lower price/project for the end customer

• Healthy business environment  - a well-established communication between businesses is assured 

What you should pay attention to when working with Lithuanian IT companies

However, working with Lithuanian IT companies can be also tricky. Even though the post soviet reminiscences are not visible, you still can hit Russian Lithuanians that are providing the same IT services, but on a relatively lower quality, and in a very specific manner. Roughly, some of the companies are only benefiting from the developed IT environment in Lithuania, but don’t follow the same guidelines as the wide majority of companies do. 

Another challenge is the limited human resources that Lithuanian companies can have. The country’s population is just above 3 million people and 6% of it is simply not enough to cover all market demands, so possibly it would be difficult to find an available IT company based in Lithuania to take a big project or so. 

How developed is Lithuanian IT Infrastructure

Lithuania ranks among the top European countries with the highest IT infrastructure. As mentioned previously, its digital transformation made the country one of the regional leaders in innovation. But even so, the country is still not done yet with developing its IT capabilities. 

How does the Lithuanian IT industry perform compared to the neighboring countries?

In the Baltics, Lithuania is a detached leader in IT. Latvia and Estonia are behind simply because they focused on developing other sectors. But the Lithuanian performance is also motivated by people’s attachment to digital technologies.  The continuously growing number of digital agencies confirms once again that Lithuania ranks better than neighboring countries. 

But speaking about Lithuania as an extension to Europe’s northern region, the country is in tight competition with Latvia and Estonia, which also find themselves somewhere in the first half of the European IT community. 

Compared with those two countries, Lithuanian companies will rather provide lower prices for their IT and digital services and products, but at the same time, Lithuania has way more limited resources than Estonia or Finland. 

All in all, Lithuania is a great country to consider for digital projects, and local companies' rich experience with digital transformation can make a difference in their projects. 

Lithuania's Tech in 2022 - Update

Considering the progress Lithuania made throughout the last 3 years, is no wonder that 2022 will be another good period for the ICT and especially local IT companies. Lithuania is abundant with news and tech-related events meant to  encourage startups and entrepreneurship. As a direct result of continuous efforts invested in ICT, Lithuania got the #10 global position in FinTech and has over 42K ICT specialists employed in the tech sector as of December 2021. With this speed, Lithuania is estimated to become more than just a competitive country in the region. 

Business Consulting is a professional service that helps businesses to improve their performance, solve problems and achieve their goals. It involves working with consultants that offer guidance, advice, and recommendations in various circumstances for a business's success.

A study by The Conference Board revealed that companies that use external consultants achieve higher profits and have better organizational performance compared to those that rely solely on internal resources.

The question that rise is why businesses without external support have a lower performance.

The answer is hidden in the following:

• Consultants assist in formulating business strategies and identifying target markets and growth opportunities, which is more difficult to do on your own.
• A problem is always easier to solve with someone's help. Consultants are problem solvers by nature. They excel in analyzing complex business issues and proposing effective solutions. 
• Consultants provide financial expertise, helping businesses optimize their financial performance, manage budgets, evaluate investments, and improve cash flow.
• At the same time, they can be your business marketers and branding persona. Consultants may support businesses in developing effective marketing strategies and improving their brand positioning. 

The next question to answer is how to choose the right Business Consulting Company. It is not easy, but possible by following the tips below:

1. Look for consultants with expertise and experience in your industry. Check their success stories to ensure they can deliver the results you seek.
2. Look for consultants that have good communication and collaboration skills, because they should listen to your requirements, understand them and collaborate with the team behind your business. 
3. Avoid offering one-size-fits-all solutions, given the fact that each business is unique and needs a unique approach. 
4. Consider the cost of the business consulting company services. Evaluate the potential return on investment and do not forget that quality consulting can have a positive impact on your business.

This being said we invite you to explore business companies' profiles on TechBehemoths platform and feel free to get in touch with them. There are more than 1803 service providers on our platform which offer a wide variety of business consulting solutions.