With unprecedented disruptions across the dimensions of people, business models, processes, and functions brought forth by the pandemic; the efficient financial risk distribution can only be achieved, with effective and renewed globalization initiatives as opposed to localization of business entities. Setting up Global Centers of Excellence (GCoE) has been the go-to strategy to combat disruptions, manage financial risk, build expertise in technologies, and keep pace with the competition.
Eastern Europe, over the last few years, with a strong workforce, not influenced by migration and a positive attitude among professionals, Eastern Europe established itself as a powerful tech ecosystem in the last years. There has been a huge boom in the investment made by global organizations and investors both locally and globally, into this ecosystem. The influx of investment from across the key players in the global technology ecosystem has led the Eastern European talent to drive innovation locally by leveraging into the rich local talent pool.