Progress

Progress LLC was established in November 2019 to develop and implement software in various industries. According to the Unified State Register of Legal Entities, 51% of the company's authorized capital belongs to Russian individuals, 49% to the German software developer PSI Software AG.

The company offers SCADA and MES products for various industries - oil and gas, power, metallurgy and other heavy industries. Most of its developments use a single PJF software platform. The company also offers a system for automating the management of warehouse operations in real time (WMS).

Progress solutions are based on the development of PSI Software AG, a branch of its products that were originally created specifically for the Russian market.

In addition to PSI Software AG, the party associated with Progress is also PSI LLC, a Russian subsidiary of the German vendor, operating since 2008.

Performance indicators

2023:301% revenue growth

In 2022, the revenue of Progress LLC increased by 301%, to 474.1 million rubles, follows from its financial accounting, published in the database of the Federal Tax Service. The company completed the year with a net profit of about 126.3 million rubles. Previously, it showed losses for two years in a row.

From the explanations to the financial account, it follows that the largest share of the company's revenue is license revenues for the use of software and a comparable share - income from consulting activities on the setup and refinement of software.

The main drivers of growth in its turnover in 2022 in the company explained TAdviser as follows. First of all, in 2022 there was a transfer of business, a redirection of the client flow from PSI LLC, a subsidiary of PSI Software AG, to Progress LLC, a Russian IT company created in 2019 to localize software products in Russia. Secondly, a number of new large-scale projects were carried out for current customers.

A joint venture of Russians with PSI Software AG was created in 2019 "(photo - bus-news.com")

PSI, from which the business was transferred to Progress, in 2022 revenue decreased by 35%, to 282.9 million rubles.

At different times, the shares received from the sales of various products of the company can fundamentally change. At the same time, logistics-related solutions always account for more than 35% of revenue, - noted in Progress.

During 2022, a number of products, the exclusive rights to which belong to Progress LLC, were included in the register of domestic software in addition to those that were added there earlier. Among them are the Progress-Platform software complex for creating automation systems for industrial enterprises of the SCADA, MES and ERP levels in various industries and the UPwms WMS system, designed to automate the management of warehouse operations in real time.

All Progress solutions present in the register of domestic software are based on products that were originally developed by PSI Software AG specifically for the Russian market, follows from their description in the register. The exclusive rights to them were then transferred to Progress, which continued their development and improvement.

At the same time, UPwms is a new product, the promotion of which began at the end of 2022. Its predecessor is the PSIwms system. In 2020, Progress acquired from PSI Software AG the exclusive rights to the PSIwms branch, which was originally created for the Russian market, and in 2022 finalized the system for the ability to work with PostgreSQL DBMS, and also added a number of functions specific to the Russian market. The main competitor of its WMS in Progress is called SAP EWM.

In 2023, it is planned to promote an effective warehouse management system on the Russian market under the new UPwms brand. Due to various circumstances, the company does not expect explosive sales growth, but several new implementations are already planned, TAdviser was told in Progress, answering a question about plans for 2023.

Active and high-quality work with current customers will also continue - the development of functionality that increases the efficiency of customers' business, the launch of additional facilities, the company added.

Note that, unlike many Western companies, PSI Software AG did not make loud statements about the curtailment of business in Russia in 2022, although in March it expressed support for Ukraine and reported on the organization of humanitarian aid. At the same time, answering a question on the social network Twitter about their business in Russia, the company stated that they were working on a solution that did not put its employees at personal risk^[1].

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