Faces: Eugene Goland

By Natalia Anishyuk

Finance magazine, a Moscow-based business weekly, profiles Eugene Goland, President of DataArt. The feature article addresses the history of the company’s formation, its resilience during this and previous crises, and discusses measures that help DataArt overcome turbulent market times. Goland notes that a tremendous revenue growth in the first three quarters of 2008 allowed the company to stay on target for the projected annual revenue, which has increased by 49%.

“DataArt had anticipated the crisis, and we’ve been taking measures since early 2008 to make sure the company is prepared to handle its possible effects, such as delays in accounts receivables, delays in starting new projects and a general “waiting mode” of the market,” said Goland. “We’ve slowed down on our expansion efforts until at least next year, and believe our situation is stable: the company is well-diversified, we don’t depend on any one large client for our financial health, there are no debts and we’ve modified our corporate governance structure, making it more flexible. We see this crisis as an opportunity to flesh out our long term goals, and in the meantime focus on retaining clients and personnel, not on increasing profits.”

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