Promwad’s Transformation Strategy: A Long-Term Vision
In mid-2022, we presented our company's development strategy to our employees and partners, and today we are publishing its key points for a wider audience.
We have a vision of how Promwad should transform itself in the future: into a large international holding with several brands and our IP, intellectual property. By that time, we plan to increase our staff by several times, develop a network of our European offices, and strengthen our reputation and brand awareness. To achieve this global goal, we have followed our transformation strategy for several years now, moving toward the intended result.
How do we envision Promwad in the future?
Promwad is an international holding with distributed European offices. Our headquarters are now located in Lithuania, with a sales office in Germany and engineering centres in Latvia and Serbia. We plan to open new European locations, bringing us closer to our customers and enabling us to serve them promptly.
We actively attract investments for breakthrough developments and use other financial instruments. This is possible due to financial stability, increasing the company's capitalisation, and additional growth opportunities in competitive markets.
We participate in global business ecosystems. We work with global vendors for direct access to the latest components and supply chains, training our engineers and diving into the latest technologies.
We create platforms and solutions that accelerate the market entry of our clients’ devices and software.
We are reinforcing our engineering team. Promwad’s development is impossible without our main resource — our specialists. Therefore, one of our key points is to create a distributed team of leading specialised experts who can find technical solutions for the most complex engineering and business problems of our enterprise-level clients and market leaders.
Our offices in Essen, Germany and Vilnius, Lithuania, before Christmas
Focus on growth industries and breakthrough technologies
The company has formed business units that specialise in industries and in-demand technologies:
- Industrial Automation
- Adaptive computing systems, including edge computing, ASIC & FPGA design
- Video streaming services
- Full-stack software development: from "bare metal" and firmware to web and mobile development
Engineers in our industrial stack will work with large customers, immerse themselves deeply in their business, study industry standards and certifications, and develop solutions and platforms for customer projects.
The work within certain technology stacks aims to create our own IP: licensed libraries, cores, and platforms and is focused on serving three key industries.
Also, we will continue to provide classic hardware and software development services: this will help us keep up to date with trends, understand customer needs and maintain the skills of our engineers.
Five trends are close to us and our clients in the automotive electronics:
Electronic control units for electric and fuel vehicles — for hydraulic, motors, actuators, body control, HVAC and etc.
Cars as living and working spaces: in-vehicle infotainment (IVI, ICE), video solutions for cars, hardware and software for connectivity.
Integrated solutions for "connected" cars, telematics and intelligent road infrastructure: traffic management systems, in-car gateways, OBD/GPS trackers.
Safety & ADAS: driver assistance systems, recognition systems with machine vision and AI on Edge.
E-mobility / urban mobility and developments for electric vehicles: electronic control units, inverters, EV charging networks and battery management systems (BMS).
In the telecom industry, we will work on the following solutions for our clients:
Corporate, accessible and industrial switches (edge computing for telecom networks).
Satellite communications and broadband networks (SatCom): ground-based equipment, digital electronics and software — up to 10 GHz.
Data centres: software and hardware, including switches.
Our telecom unit is focused on software development now, as this is a promising area in which we are working on server and client applications; hardware monitoring solutions, fault management, billing integration; VoIP based services; TR-069/SNMP management; OpenWRT based network devices, WiFi6E / Mesh and more.
Development of engineers and technology leaders
The professionalism, value, and efficiency of each individual in the company remain paramount. Our engineers can choose to specialise in industry or technology and develop their skills in a specific area. And industry and technology leaders can develop their management skills by working directly with customers and project managers (PMs). Thanks to this mix, we will be able to build strong expert teams with competencies in different areas and solve clients' challenging tasks.
We continuously improve our business processes in response to market needs and customer demands. We confirm the quality of our work through international certifications. In the near future, we intend to obtain certification for information security (ISO 27000) and industrial standard for evaluating software development processes in the automotive industry — ASPICE.
What drives us towards this vision
In the original version of the strategy, we had a list of 7 values that guided our work, such as proactivity and positive thinking, customer orientation, teamwork, etc. But as a result of trusted interviews with the team, we have realised our true driver on the way to our goals. Here's how it works within our company and interacts with the tech market, from setting the challenge from our clients to bringing a new solution to the market:
Promwad's DNA: how challenge drives us to achieve meaningful results for the growth of our engineers and our customers' businesses
We are "fired up" by the desire to take on challenges that we receive from clients or spot in the market ourselves. Challenging and ambitious tasks excite us and motivate our team to do our best to successfully meet the challenge.
This value system "Challenge — Open Communication — Significance, self-realization" does not only work within Promwad. This approach affects everyone involved in the process: us, our customers, our partners, and the tech market.
When we say "challenge", we don't just mean risk. Challenge is an examination of our capabilities and potential, professional excitement, and, of course, the responsibility we take towards customers, partners, employees, and ourselves.
What happens when we solve a challenge?
- Our client receives a solution that allows them to expand their market reach and come out with a breakthrough product or service.
- We build our expertise and dive deeper into other potential challenges and opportunities in specific industries.
- Our partners and the entire business ecosystem gain new knowledge that can be used to create complementary solutions.
Thanks to open communication and support for the initiative, we have already managed to meet challenges that may have seemed impossible at the start. We believe that this approach is one of Promwad's true core values, so we are consciously developing it.
This year, we launched our innovation club to support new initiatives and solve engineering problems, both internal and external, received from our customers and partners in various industries.
Our goal is to increase the share of projects with solutions that tangibly change or expand the market with breakthrough solutions to grow our customers' businesses and empower our engineers. It is these solutions that motivate us to go even further in our development.
We expect that our investment in our team will pay off, and we will be able to offer our clients ready-made solutions for their industry-specific problems before they even form their own problem. :-)
Since the early days of the company, these three key components have kept us together: Challenge — Open Communications — Significance, self-realization.
This core of values, our DNA, ensures the professional fulfilment of each engineer and the growth of the expertise of our team. And further on, we are ready to take on new challenges, even tougher and more interesting to drive our customers' business with the latest technology!
We will continue to refine and strengthen Promwad's development strategy, based on our vision, market requirements, and the wishes of our customers, who will be informed of the details in the near future.
Would you like to solve a new engineering challenge with us?