T1 Innoteh (Innoteh Group of Companies)
Since 2019
Russia
Central Federal District of the Russian Federation
Moscow
121205, territory of Skolkovo innovation center, Lugovaya street, house 4 building 5, room 19
Owners
T1 Innotech is a group of companies that since 2020 has been developing software for the digitalization of the banking industry by ensuring the automation of processes using advanced technologies.
Performance indicators
2023: Revenue growth doubled to RUB 101.77 billion
In 2023, Innotech's revenue amounted to 101.77 billion rubles against 49.99 billion rubles a year earlier. The company's net profit in comparison with these periods increased from 38.03 billion to 72.71 billion rubles. This is evidenced by the data of the Kontur. Focus service, which TAdviser got acquainted with in April 2024.
As the general director of Innotech Dmitry Kharitonov told TAdviser, the growth in the company's revenue is due to an increase in demand for import-substituting software for the financial sector, as well as the high demand of the market for custom development amid the departure of Western vendors.
 | The revenue growth rate of the Innotech Group is ahead of the market growth, which is also supported by areas related to the sale of licenses for proprietary software. Positive dynamics in net profit (an increase of more than 1.9 times compared to 2022) is also due to the large volume of sales of own developments. Expenses on intangible assets created by the company in the form of software are capitalized and further amortized over the useful life. At the same time, the sale of licenses is recognized at the time of the transaction. Thus, we see a high level of profitability, - said Kharitonov. |  |
In 2023, the cost of sales of Innotech Group of Companies LLC amounted to 25.03 billion rubles (in 2022 - 10.98 billion rubles), gross profit - 76.74 billion rubles (in 2022 - 39 billion rubles), profit from sales - 71.54 billion rubles (in 2022 - 37.28 billion rubles). The group's commercial expenses in 2023 reached 645.4 million rubles against 438.4 million rubles a year earlier, management costs increased from 1.29 billion to 4.56 billion rubles.
Innotech's accounts payable by the end of 2023 decreased to 5.43 billion rubles from 6.05 billion rubles at the end of 2022, and accounts receivable rose from 2.35 billion to 3.19 billion rubles. The volume of cash and its equivalents for the year increased several times from 318.6 million to 5.13 billion rubles. Financial investments (excluding cash equivalents) at the end of 2023 were measured at 27.89 billion rubles.
History
2024
TAdviser interview with Stanislav Obukhov, Director of the Division of Technological and Internal Processes and Services
With increased supply and the challenges faced by companies in resource management, interest in automating these processes is increasing. Stanislav Obukhov, Director of the Division of Technological and Internal Processes and Services T1 Innotech (Holding T1), in an interview shared his vision of the development of the procurement market, key customer priorities and conditions under which the business needs specialized software. Read more here.
Participation in the TAdviser conference "Import substitution in IT 2024: real experience"
T1 Innotekh, a leading supplier of innovative solutions for business digitalization, will take part in the TAdviser conference "Import Substitution in IT 2024: Real Experience," which will be held on September 10, 2024. Read more here.
2023
Leasing marketplace: what should not be forgotten by those who launch their project
Understanding the promise of digital channels to attract customers, financial companies began to look towards e-commerce and create products unique to the industry. Many of them are completely built on modern online solutions and do not imply the participation of the manager in the transaction procedure, which makes the financial product more affordable and faster. Konstantin Abakumov, director of the technological development division of Innotech Group subsidiaries, talks about what mistakes developers can make when creating such services and how to fix this. Read more here.
Renaming "TS-Innotech" to "T1 TRACK"
According to the Unified State Register of Legal Entities, from July 11, 2023, the company TS-Innotekh LLC (part of the Innotekh group) changed its name to T1 Territory of Radioelectronics and Cybernetics LLC (T1 TRACK LLC).
"Innotech" - winner of the TAdviser IT Prize 2023
The Mirion graph platform of the Innotech Group (part of the T1 Holding) won the TAdviser IT Prize 2023, the national prize in the field of information technology in the corporate sector, in the nomination "Big Data: Platform of the Year." Read more here.
2022
According to information for 2022, the company works with large banking organizations in Russia. Actively builds partnership work in the Middle East, Africa and Southeast Asia. The coverage of users of the company's products is more than 15 million people, and the staff of developers has more than 6 thousand employees.
Innotech requested 530 million rubles to refine the Dion VKS service to the level of Zoom, MS Team and WebEx
As it became known to TAdviser, the Innotech company, which is part of the T1 group, estimated the revision of the Dion VKS service to the level of Zoom, MS Team, WebEx, GoogleMeet at 530 million rubles. TAdviser was informed about this by an informed source.
According to the interlocutor of TAdviser, on July 27, 2022, at a meeting of the competence center for the development of Russian system-wide and application software, necessary to replace the currently used foreign analogues (Communication Services CDC), the possibility of supporting the VKS service to obtain state subsidies was discussed. Initially, Innotech asked for 1.2 billion rubles to finalize the VKS service, but then reduced the amount to 530 million rubles. Read more here
Appointment of Dmitry Kharitonov as CEO of Innotech
On June 15, 2022, the Innotech group, a supplier of innovative solutions for business digitalization, told TAdviser about management changes: Dmitry Kharitonov was appointed CEO. He replaced Igor Kalganov, who headed the T1 Group in May 2022. Read more here.
Companies of the Innotech group in 2021 increased revenue by 800-900%, the number of employees - 5-8 times
The companies of the Innotech group (part of the T1) in 2021 had a sharp increase in revenue, profit and the number of employees, TAdviser found.
According to the service "Kontur. Focus," the key company of the group "TS-Innotech" in 2021 revenue increased by 911%, from 848 million to 8.6 billion rubles, net profit - by 1386%, from 29.1 million to 432.5 million rubles, and the staff - 8 times - from 160 people increased to 1302 employees.
Other companies in the group have grown comparably. For example, at TS Digital Technologies, revenue increased by 822%, from 730 million to 6.7 billion rubles, profit - by 190% to 476.3 million rubles, the staff expanded from 128 to 999 employees.
The revenue of TS-Fintech grew by 519%, from 971 million to 6 billion rubles, profit by almost 192% to 560.6 million rubles, and the number of employees increased from 140 to 780 people.
Even the Datatech company, which was registered in July 2021, showed very high results at the end of the year. Its staff for half a year increased to 121 employees, while revenue reached 759.2 million rubles, and net profit - 134.7 million rubles.
At the same time, the process of creating new legal entities continues, so in February 2022 the Innotech Group of Companies was registered.
Entry into "Russoft"
On February 4, 2022, Innotech Group of Companies announced its entry into NP RUSSOFT"" - an association of development companies software Russia focused on the global market. As of February 2022, more than 250 organizations are members of the Association.
| | In just a year and a half, Innotech became the locomotive of the fintech industry. We develop high-tech solutions for the digitalization of the banking industry at the local and global level. The Innotech team already has more than 6,000 best specialists, and the reach of users of our products is more than 15 million people. Together with other member organizations of RUSSOFT, Innotech will be able to take an even more active part in shaping the position of the community, set trends in the Russian and international IT industry, and effectively respond to the challenges of our time, "said Igor Kalganov, General Director of Innotech. | |
Membership in the Association will give Innotech additional advantages for entering the international market, establishing a dialogue with the business community and participating in the discussion of key IT issues. By combining resources, it will be easier for participants to lobby the interests of companies engaged in the development of solutions in the field of high technologies, in particular software, and participate in the formation of a consolidated market position at the legislative level.
| | The entry of Innotech Group of Companies into RUSSOFT is largely a landmark event: in a short time, colleagues proved the ability to rapidly grow and organize high-quality development of high-tech products, securing the status of one of the most promising software companies. We need to combine resources with key players in order to jointly identify the problems of the industry, bring them up for discussion with business and the state, together solve and move towards the implementation of the key tasks of the country, "said Valentin Makarov, President of NP RUSSOFT. | |
Areas of activity
As of February 2022, Innotech Group of Companies:
- helps banks implement digital transformation without the need to replace IT infrastructure.
- creates high-load front-end systems, omnichannel products and highly reliable platforms to support the banking business.
- Helps take customer experience to the next level by incorporating AI technologies into banking products.
To create new and optimize existing mobile solutions, the company uses software development technologies that have proven to be safe and effective.
VTB transfers IT specialists to Innotech
On January 17, 2022, it became known about VTB's decision to transfer employees of its IT division to Innotech, which is 100% owned by the T1 group. The goal of this step is to save on taxes.
As one of Innotech's sources told Kommersant, "almost all of the bank's IT specialists will be transferred to this company." Another source familiar with the situation said that we are talking about a "significant part" of the staff. According to the publication, in the future VTB will become a co-owner of Innotech. The company will be led by Vadim Kulik, deputy chairman of the board and curator of IT at VTB.
The newspaper recalled that in the spring of 2021, many companies began to withdraw specialized employees to specialized structures to benefit from the tax maneuver in IT. So, according to the general director of OxygenPavel Kulakov, Sberbank and its subsidiary Sber Tech have already passed this way.
Co-owner of RuSIEMMaksim Stepchenkov also notes that the T1 is focused not only on internal orders, but even rather on external customers and works on all fronts.
| | T1 is a classic IT integrator who also supplies equipment, and the share of earnings from services is not so significant that it does not allow the company to receive benefits as an IT company, "he said. | |
According to Stepchenkov, the main reason for the emergence of allocated IT companies within corporations, in addition to tax incentives, is the possibility of faster hiring of employees.
An unnamed IT expert in a conversation with Kommersant noted that the creation of a digital division based on a separate company is already a common practice that allows you to reduce dependence on external contractors, ensure faster implementation of initiatives, reduce implementation costs and provide flexibility in attracting personnel.[1]
2021
Cooperation with Tomsk Polytechnic in the field of artificial intelligence in fintech
Tomsk Polytechnic University and the Innotech Group of Companies, a Russian manufacturer of software for the digitalization of the banking industry, signed a cooperation agreement on September 27, 2021. The company's specialists will participate in the educational process, students will undergo internships and practices at Innotech. The company and the university are also discussing the directions of joint research in the field of artificial intelligence for the field of financial technology. Read more here.
To be included in the T1 group
The group, T1 one of the representatives, Russian IT services market on April 21, 2021 announced the merger of the Group companies "" Technoserv under a single brand "T1." ON Innotech is responsible for the development of the application in the group. More. here
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |