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NRD Companies, a group of companies specialising in global information technology and consulting, said its consolidated 9-month revenue of 2020, as compared with the same period last year, grew from EUR 4.735 thousand to EUR 5.465 thousand, with its net unaudited profit currently at EUR 298.6 thousand, compared with a net loss of EUR 160.2 thousand last year.
In a statement, the group said despite the COVID-19 pandemic, NRD Companies continued developing public sector management and economic digital infrastructure projects in 22
countries, including Lithuania and places as remote as Mauritius,
Uganda, Bangladesh, Samoa, and Eastern Caribbean.
Compared with
January–September 2019, the Group’s aggregate revenue in the
Lithuanian market fell by 12.1% but rose by 47.6% with respect to
foreign markets.
“The digital solutions we devise and implement play a strategic role
in the development of the countries we operate in,” says NRD Companies CEO Mindaugas Glodas. “This becomes very apparent during a recession when digital service delivery platforms become more important than ever
before. For example, on the basis of our GxP Customer-Centric
Service Delivery Platform, we are able to provide the government of
Barbados with a personalised digital service solution that will optimise their resources and help develop digital services previously unavailable in the country.
“In the Samoan Islands, meanwhile, we are currently developing a strategic plan of the national identification infrastructure. This infrastructure is intended to provide the Samoan people with digital access to various social services and lay the
groundwork for the country’s digital economy.
“Zanzibar is yet another example. On behalf of the Zanzibar Revenue Board, we are completing the
implementation of our VFD , a new-generation sales tax
administration system. With this system in place, the Zanzibar Revenue Board will have the means to curb the shadow economy and collect taxes promptly and transparently. We can see that the pandemic not only did not make countries recall such projects – it actually propelled them
to forge ahead.”
NRD Companies was able to successfully continue working on its projects thanks to the new remote working methodology. According to Mr Glodas,
although the lack of lively on-the-ground communication does present a bit of an obstacle in launching products in remote markets, the innovative remote working methodology allows us to maintain smooth operations with the existing clients.
“When you meet clients face to face, present your products and
services and have the opportunity to chat and form an emotional
connection, working with them is always easier,” Mr Glodas says.
“But we are now working remotely. And although this requires a more
intense level of communication with our clients, we as well as our
client countries have been able to adapt,” he adds.
Q3 of 2020 at NRD Companies is also marked by active dissemination of
pioneering ideas. Over the last three months, the Group ran four
[7]webinars [8] and e-conferences, where its own experts, as well as
those from the World Bank and the European Commission, met with public
sector decision-makers to introduce them to latest technologies and
their capacity to improve not only people’s lives but also the
business environment in accordance with the UN Sustainable Development
Goals. The last of the e-conferences, dedicated to digital
identification and its benefits, was attended by a total of 186
representatives from 56 different countries. The upcoming international
webinar, with the topic of effective tax administration in online sales,
is scheduled for November.
NRD Companies also gained further recognition this quarter. The personal
income tax declaration guide, which was developed by NRD Systems, one of
the group’s companies [9]won the title [10] of the Best Solution for
Lithuania.
The group’s companies are constantly striving to develop new products
and provide innovative services. This year, NRD Companies successfully
developed or substantially updated some of their technology solutions,
such as the GxP customer-centric service delivery platform, the KASU
POST, a robust solution for improving the operational efficiency of post
offices, the VFD, a new-generation virtual fiscal device management
system for optimising tax administration and curbing the shadow taxes
and the Unified Registry Platform, a system that automates standard
registration procedures.
