Starschema Has Significantly Increased Its Turnover

The turnover of Starschema Ltd. reached HUF 7.7 billion last year, an increase of 55% compared to 2021, the IT company has told MTI.

The domestic market leader in data analytics and data visualization has boosted its growth rate despite the unfavorable economic environment, closing with a 20-25% increase in previous years, it said. This was explained by higher-than-expected demand for Starschema's services.

In the face of these challenges, more and more companies are looking to make better use of data and artificial intelligence in their business processes to improve efficiency and reduce costs. Almost 60% of orders come from the United States, with a significant proportion of customers coming from pharmaceutical and financial companies, they added.

The company expects good results again this year as they see customers spending a lot on data asset management and data analytics despite the crisis. In their experience, there is also significant demand for manufacturing process automation and digitalization projects. In the field of business data processing, the use of artificial intelligence-based chatbots, i.e. software capable of human speech, was mentioned as an exciting development, and they would like to see further developments in this area.

Budapest-based Starschema Ltd. was established in 2006, became a subsidiary of Indian HCL Technologies in April last year and was merged into the parent company at the end of the year. According to their report, they will achieve revenues of more than HUF 3.9 billion in 2020 and almost HUF 4.3 billion in 2021, predominantly from foreign orders. Meanwhile, their profits fell from HUF 453 million to HUF 392.5 million.