Trask grows with three new subsidiaries, a 25% rise in turnover and expansion to America, all in one year
PRAGUE, September 20, 2023 – Trask’s fiscal year closed at the end of June. The results show a continuation of the long-term growth trend - turnover increased by 25% year-on-year (from CZK 1.2 billion to CZK 1.5 billion). Other notable achievements include the establishment of three new subsidiaries, expansion into the American market, and several major awards. Moreover, Trask plans to be listed on the New York Stock Exchange (NASDAQ) by 2028. However, as a technology expert, it mainly wants to remain a strategic and reliable partner for its clients.
Trask has long been a leading provider of reliable technology innovations in the finance, insurance, telecommunications, energy, and manufacturing industries. An example of successful cooperation is the IT transformation at one of the largest European insurance holdings, Vienna Insurance Group, which included a new client zone for the Kooperativa and ČPP insurance companies. It won the Golden Crown Award for Innovation of the Year. The key objective of the project was to simplify the onboarding of new clients and make the user experience more pleasant – complex processes tend to result in customer dissatisfaction and their defection to competitors.
Another important project last year was the successful completion of payment infrastructure modernization for the leading European financial conglomerate UniCredit Group in 11 countries at once. Trask continues to hold a strong position as an industry leader and had plans for further significant growth in the future. This is also confirmed by Trask CEO Pavel Riegger.
“It is essential for us to do what we are good at and what we have been doing for almost 30 years. We do not plan to diverge from our craft, but we do want to fully demonstrate our technological expertise, i.e. what we can do thanks to our hundreds of experts.”
Pavel Riegger, CEO, Partner at Trask
To enable Trask to respond even more flexibly to changing client requirements, new entities have been created within the group:
• Team8 provides “on demand” services that enable clients to quickly get the IT professionals they need, whether it's to temporarily cover higher demand or to acquire specific expertise.
• Meonzi offers premium IT consulting, for example in defining IT strategies or reviewing IT costs.
• Trask Telco has been part of the group for a relatively short time and consists of a team of experts who have been modernizing telecommunications technologies in the Czech Republic, Slovakia, Belgium, Greece, and the United Arab Emirates since 1993.
Nonetheless, Trask remains the strongest pillar of the group, delivering complex projects including the option of follow-on support or “as a service” operations.
Another major milestone for Trask is its expansion into North America, confirming the company's global ambitions. To this end, a team of experts has been set up, led by John Weisel, former managing partner at Ernst & Young in the region for 15 years, where he was responsible for financial services (having previously worked at Accenture).
“The technological expertise and quality of Trask’s solutions stands up to the highest global standards. I am therefore convinced that we will be highly competitive in the United States as well,”
adds John Weisel.
Within five years, profits from the US market should account for up to 30% of Trask’s total turnover. All of this continues with an emphasis on long-term relationships, both with clients and employees. “We are proud of what we have achieved in the Czech Republic, the clients we have been able to help here, and we will of course continue to do so,” says Pavel Riegger.
About the Company
Trask is a Czech technology company that has been specializing in developing technological innovations for leading companies around the world since 1994. Its expertise covers the areas of finance, insurance, telecommunications, energy and manufacturing.
The company has a team of more than 1,400 IT professionals with proven know-how and experience in large-scale projects. Its customers include Erste Bank, Société Génerale, ČEZ, VIG, KBC Group, UniCredit Services, Škoda Auto, VW, and Bentley. Trask is represented in the Czech Republic, Slovakia, Austria, Germany, Benelux, the United Kingdom, the United States, and Canada.
Read more at: https://www.thetrask.com/
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