DeepInspire achieved its valued presence in the software era and successfully held on to a vast portion of it. Read the company’s success story in the words of Pavlo Terletsky, the CEO of DeepInspire.
DeepInspire is a leading software development company with comprehensive expertise in creating fintech solutions. They have been in the software market since 2000 and have headquarters in Lviv, Ukraine. Additionally, DeepInspire’s branch office is in London, as most of its clients are based in the UK.
The company provides full-cycle software development, from creative designs to engineering, testing, and support. Collaborating with founders, product owners, and CTOs, they transform business ideas into excellent IT products. It is worth mentioning that DeepInspire holds a secure position as one of the top software development companies in Ukraine at GoodFirms.
The GoodFirms team interviewed Pavlo Terletsky, the CEO of DeepInspire, to learn more about the company and its ethical values.
Please introduce your company and give a brief about your role within the organization.
DeepInspire is a boutique software development company with extensive expertise in building fintech solutions. We have been on the market for more than 22 years, since 2000. The company is headquartered in Lviv, Ukraine, and also being present in London (since we work mostly with clients from the UK).
We provide full-cycle product development from ideation, architecture and design to engineering, testing and support. Partnering with founders, product owners and CTOs we transform bold business ideas into exceptional digital products.
As DeepInspire CEO, I mostly communicate with our clients & partners, provide advisory support for each of our projects, and handle the company’s development strategy.
What is the story behind starting this company?
While studying at the university, I was passionate about software development and worked as a part-time programmer at several companies.
One day I decided to start my own business in the IT industry, and in 2000 I founded DeepInspire company together with my friend Roman Cheryba. Initially, there were only two of us – Roman was creating designs, and I was coding. Over time we have put together our core team (that stays with us until today).
What are your company’s business model – in house team or third party vendors/ outsourcing?
At DeepInspire, we adhere to high-quality standards, and one of the ways to achieve this is to keep the majority of the team in-house (what we actually do). Live communication allows us to deliver more efficiently, be flexible, and solve issues quickly.
How does your company differentiate itself from the competition?
We call DeepInspire a boutique software development company.
This means we are focused on more customized services for a limited client list. Because our company is not large, we can ensure the maximum presence of our top experts (CEO, CTO) on projects. I am personally present at each of our projects (communications, advisory, help with solution architecture, risk management).
What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?
Over 80% of our projects lay in the fintech industry. We deliver end-to-end solutions for trading platforms, exchanges, investment platforms and a wide range of fintech startups. But, over 20 years, we’ve also done a lot of different projects from various industries: logistics, real estate, human resources, education and more. And there is another industry that we have a passion for – space. For today, we only dream and observe, but someday we’ll be there 🙂
Please share some of the services that you offer for which clients approach you the most for?
We don’t provide just development services but complex solutions to reach our clients’ business goals.
We have extensive experience in developing complex financial solutions with custom APIs, various third-party integrations, automatic processing of incoming and outgoing payments, compliance solutions and others.
Our involvement in a project starts with a discovery phase that entails research, analysis, exploration, and planning. Then we move on to custom software development that includes solution architecture, front-end and back-end development, UI/UX design, DevOps, quality assurance, project management and client support.
What is your customer satisfaction rate according to you? What steps do you take to cater to your customer’s needs and requirements?
DeepInspire’s customer satisfaction rate is definitely above 90%.
Our clients appreciate our “can-do” attitude, attention to detail, and flexibility through all processes. We successfully combine technical expertise with commercial knowledge that helps us understand business, its needs and pains. We relieve businesses of the heavy technical burden, taking on the responsibility for robust financial technology solutions.
What kind of support system do you offer to your clients for catering to their queries and issues?
Honestly said, we’re proud of our excellent project management. It makes our clients’ life easier.
Our clients are able to focus on strategy and key elements rather than on daily routine or micromanagement. They can be confident that all the project tasks and requirements will not be lost, will be implemented and well documented without needing additional control and supervision from their side.
What kind of payment structure do you follow to bill your clients? Is it Pay per Feature, Fixed Cost, Pay per Milestone (could be in phases, months, versions etc.)
In most cases, we work with a dedicated team model. It’s a straightforward and transparent pricing system: monthly payments depend on the team composition. In the dedicated team pricing model, the budget is fixed, but the scope remains flexible. This model is perfect for long-term projects.
We prefer the dedicated development team model as we are convinced that this model is the best for achieving our clients’ business goals. A dedicated team has product-oriented thinking and a profound understanding of the client’s project and business goals, necessary to deliver efficient digital solutions.
Do you take in projects which meet your basic budget requirement? If yes, what is the minimum requirement? If no, on what minimum budget you have worked for?
DeepInspire is open to all clients. We work with early-stage startups, SMBs, as well as huge enterprises. Building complex products from scratch, solving challenges, innovating – that’s what drives us. In some cases, we partner with early-stage startups as technical co-founders and invest in them with a development team resource.
What is the price range (min and max) of the projects that you catered to in 2021?
The price of our dedicated team for fintech product development varies between $40-80К per month, and most of our projects are long-term (12+ months).
Where do you see your company in the next 10 years?
We have a shared vision with our partners on this topic – we want to remain a boutique company (up to 150 people). Small enough to keep our boutique approach to product development, big enough to deliver complex projects efficiently. Our primary goal is to grow and extend the expertise, not the number of developers.
As I mentioned before, we have a great passion, and that is SpaceTech. I believe that in the next 10 years we will start our involvement in software development for the space industry. It’s going to be really exciting!
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About the Author
Working as a Content Writer at GoodFirms, Anna Stark bridges the gap between service seekers and service providers. Anna’s dominant role is to figure out company achievements and critical attributes and put them into words. She strongly believes in the charm of words and leverages new approaches that work, including new concepts that enhance the firm’s identity.
