There are 7 Companies in Ukraine
that provide Due Diligence Services!

IT is the most advanced and popular field in Ukraine. Ukrainian IT industry is expected to reach $10 billion in value by 2021. The local software development community has grown by 27% in 2017 and currently employs over 185,000 IT specialists.

Ukraine ranks 4th in the world by the number of tech workers after the United States, India, and Russia. Moreover, its IT workforce is expected to surpass the 200,000 marks in 2021

Why you should work with Ukrainian IT companies?

The Ukrainian tech industry has benefited from a close cultural fit with European and Western markets as well as a central time zone. This means that the cultural fit comes both from a shared European history as well as working regularly with international businesses. Since 2013 an agreement between the European Union and Ukraine has also made it easier for Ukrainians to travel throughout Schengen to build business relationships.

 Additionally, the considerably lower prices compared to other European countries, made from Ukraine a good destination for sourcing out talents and workforce with relatively competitive skills and education. 

What to be aware of when working with Ukrainian IT companies

Due to the cheap prices Ukrainian web agencies offer, the market perception tends to take professionals and companies based in Ukraine as an outsourcing destination or a budget project alternative to other similar European opportunities. Additionally, cybersecurity, piracy and tech skills raise questions about hiring or not a Ukrainian web agency for web projects

How reliable are Ukrainian companies

Having the association agreement with the EU, Ukrainian companies starting 2013 entered a new phase of cooperation and received more access to European market, business culture, and IT environment and infrastructure. It is considered now, in 2020 more reliable than it was before and visible progress was registered; but with the regional background, is still far behind its neighbors in terms of competitiveness and skills

How the Ukrainian IT industry relates to the neighboring countries

With three large competitors as neighbors, Ukraine has been struggling to become the largest tech hub in the region. Compared to Russia, Ukraine enjoys a similar IT infrastructure but has more opportunities due to access to the EU market. Poland, on the other hand, has a considerable advantage due to advanced facilities and market investments which makes it more attractive than Ukraine. Also, Romania is a strong competitor in the region that claims leading positions in software development and IT infrastructure development. 

Overall, Ukraine has a strong position in the region and in Europe, with a massive IT presence which allows companies based there to attract more customers from different segments. However, the trends show that market preferences move to another price segment than the one Ukrainian companies are on to.

Due diligence services are like thorough investigations that help businesses make informed decisions. They assess risks and opportunities when entering into partnerships, acquisitions, or other critical business transactions.

Many IT companies offer due diligence services, specializing in analyzing technology, data security, and compliance aspects of potential business ventures. Notable IT companies providing due diligence services include Deloitte, KPMG, and Ernst & Young (EY).

Due diligence service providers use a combination of tools and technologies to assess various aspects of a business. These may include data analytics platforms, cybersecurity tools, compliance management software, and financial modeling software. They also leverage document management systems and communication tools for efficient collaboration during due diligence processes.

Due diligence and audit services share similarities in their examination of the financial and operational aspects of a business. However, they differ in scope and purpose. Due diligence is typically conducted before entering into a business transaction to evaluate the potential risks and rewards. In contrast, audit services are often part of ongoing financial reporting and compliance requirements within a business.

Due diligence services are closely related to other advisory and consulting services, including:

• Financial Advisory: Providing financial insights and recommendations.

• Cybersecurity Assessment: Evaluating a company's cybersecurity posture.

• Mergers and Acquisitions (M&A) Consulting: Assisting in the strategic aspects of M&A transactions.

• Compliance Consulting: Ensuring adherence to industry regulations and standards.

Selecting the best IT company for due diligence services requires evaluating their expertise, industry knowledge, track record, and the comprehensiveness of their due diligence process. Seek providers who can tailor their services to your specific industry and transaction type.

Due diligence service providers are essential for various projects, including:

• Mergers and Acquisitions: Evaluating the financial health and potential risks of target companies.

• Investment Assessments: Analyzing potential investments in startups or new ventures.

• Partnership Agreements: Assessing the suitability and risks of partnering with another organization.

• Regulatory Compliance: Ensuring adherence to data protection and industry-specific regulations.

Conducting due diligence is essential for businesses of all sizes and industries. Some examples include private equity firms, which need to assess potential investments and portfolio companies; startups, which must evaluate the feasibility and risks of new business ventures; large corporations, which conduct due diligence on acquisitions and strategic partnerships; and financial institutions, who ensure compliance and risk management in lending and investments.

The cost of due diligence services can vary significantly based on the scope and complexity of the project. Factors such as the size of the target company, industry regulations, and the depth of analysis required influence the price. In the US, costs can range from a few thousand dollars to millions for complex M&A transactions. UK and Australian costs can be similar but may also vary depending on regional factors and the specific nature of the project. It's advisable to obtain quotes and assess the value provided by service providers before proceeding with due diligence.