Hyarchis, the Dutch market leader in enterprise content systems for the financial services industry, has decided to expand its operations to Kaunas. The company will move a few of its key activities to Lithuania and plans to use Kaunas as a hub to launch its product suite in the Nordic and Baltic markets.
Hyarchis is a Dutch software developer company with a long history that rolls back to the mid-eighties. Starting as a provider of document management software, Hyarchis has grown into a provider of full-scale enterprise content management systems which are used by 92% of the financial services providers in the Netherlands. Now the company has reached its limits of growth in their home country, Hyarchis plans to expand its horizon to the Nordic and Baltic countries and sees Kaunas as the perfect location to do so.
Hyarchis will be the fourth innovative Dutch IT company to settle in Kaunas within little more than a year’s time. Whereas GeoPhy and Meridia are already fimly established in Lithuania’s second city, Centric recently announced the opening of a large-scale IT center in Kaunas. It raises the question what makes Kaunas so attractive to Dutch IT companies.
For the owner of Hyarchis, Andre van der Doelen, this is not a difficult question to answer. “As the market leader in our line of business, we always need to stay a step ahead of our competition. In the Netherlands we have found it increasingly difficult to attract the right talent to keep our innovative edge and for a few years we have therefore experimented with stationing project teams abroad. After moving from one country to another, we were thoroughly impressed with the talent that we found in Lithuania. All this time we have been looking for high-skilled talent that can pro-actively help us to lift our product suite to the next level. In Kaunas we found just that type of people”.
“As a player in both the financial services and legal industry, Lithuania is a very attractive location to us”, says Andre van der Doelen. “The fintech and legaltech markets are booming and Lithuania is quickly developing into one of its main hubs in Europe. As a company we’re always looking for break-through solutions within our market and Lithuania offers the kind of talent that we need to stay ahead of our competition. Our office in Lithuania will be a key factor in these ambitions since it will not only be tasked with the product development, but also with our international sales and marketing activities”.
Adriaan Hoogduijn, who previously guided GeoPhy and Meridia to Kaunas, will support Hyarchis with setting up operations in Lithuania. He is very excited about the project and believes that Hyarchis is a great acquisition for the country: “In my dealings with other foreign investors I have noticed a great eagerness to embrace next-generation solutions. The times that Lithuania was preceived to be a low-cost country are long gone and many companies have made it a priority to scale and automate tasks once deemed tedious. Hyarchis’s product suite caters exactly for such digitalization and I believe that it is the right time for them to step into this market”.
Apart from finding new markets in the Baltics, Hyarchis also voiced its enthusiasm about initiatives like the LegalTech Lab of the Mykolo Romeris University in Vilnius and a similar laboratory at the Vytautas Magnus University in Kaunas. Andre van der Doelen: “The first months will be dedicated to laying good foundations for our activities, but once these have been put in place, I would be very interested to see the results of bringing our experience together with the country’s young and bright minds”.
