Why we need millions
PSolutions was the first company to implement and offer procurement service outsourcing to companies in Georgia since 2021. Today, the company is entering a new stage of development, and has large-scale and big plans for 2022.
Givi Lomidze, the founder and managing partner of PSolutions, talks about the current projects, investment offers and future plans of the company:
-- At what stage of development is PSolutions now?
Our company is exactly like we are: courageous, bold, and innovative. We made a decission to quit our jobs, and start this business when the pandemic and the resulting from it economic stagnation were rampant in our country. Despite big monthly bank commitments and a fairly high-paying job, I decided to quit my job, and start a new business. First we were in the lent office, then we rented a small office at a relatively low price, now we have allowed ourselves to move into quite nice office in one of the best locations in the city, near Vake Park. Visitors often ask me why I need such a large office, and my answer is that I feel good in a large space, and this is when I come up with ideas for doing great things.
At this stage our company already consists of up to 10 professionals, some of whom are the key members of my team, and some are involved in some specific projects in parallel with their rather high-ranking positions. Today, modern technologies make it possible for long distance collaboration of number of people.
--What experience do you and your team have in procurement? Tell us more about the team ....
My team and I have 15+ years of experience in procurement. Exactly 17 years ago, I was 17 when I started working. I did not have a diploma, or a military ticket at the time, and I was not even allowed to work on that position until I was 21 according to Georgian law, but I was somehow lucky. Since then I have changed 14 jobs, first I was a civil servant, then a hired employee, a half partner, and finally, starting from 2020 we belong to ourselves. I have literally gone through all the stages of development, which is very important for doing business when I look at it from this perspective now.
At first we started participating in relatively low-budget tenders, but experience has shown that in a tender where the estimated cost is low, and intellectually easy to execute, competition is quite high there, and profit is quite low. At this stage we have switched to projects where the estimated cost exceeds one million GEL, and due to the specifics of the goods and other tender conditions, many companies find it difficult to accomplish the project, both financially and intellectually. For the past 10 years our team has been leading procurement and logistics directions of various private and public services, where the annual procurements were quite diverse, and the annual budget exceeded 50 million GEL.
--How the projects are selected?
The more difficult the project looks from the beginning, the more interesting it is for us. As already mentioned, our company is just like we are, it is distinguished by its character and vision: for us there is no job that cannot be done, no goods that cannot be to be obtained, no service or supplier that cannot be found. At first it seems there is no chance to complete the project at a glance, but still we start working, and in the process so many interesting things come up and happens that we find solution anyways . I am a math high school and university graduate, and difficult projects are somehow associated with the difficult task I solved as a child at school, or at the math olympiad, which on the one hand brings me back to childhood, and on the other hand gives me great pleasure. Don’t’ we live on this earth to get as much pleasure as possible?!
--What is the main thing in your business that helps you to overcome obstacles?
Why we need millions? Exactly for implementation of large and important projects for the country. Today, finding financial resources in Georgia are squeezed into the frame: no matter how much experience you have personally, or your other companies, when you start a new business, you become a startup, and you face difficulties. None of the existing institutions can give you what you need, and development opportunities as well cannot be implemented at a sufficient pace due to lack of financial resources. Our requests to everyone is way out of standard and ordinary – we set high demands for banks, insurers, buyers, suppliers, team members and, first of all, for ourselves, but as it usually happens, show me the need and I’ll show you the solution - this is the case with us. The key to all of this is probably the character - if there is enough diligence, there is nothing that cannot be accomplished. Besides, the business should also be something to be proud of doing.
--Would you single out a project, working on which is especially interesting for you?
We recently came across with a very interesting tender with a budget of 9.5 million GEL. The purchase envisages provision and installation of a telescope and a dome at the Abastumani Observatory. The tender requirements were quite strict, and our company did not seem to meet its conditions but we still started looking for a telescope. As a result of the market research, we have identified one of the largest manufacturers in the world, negotiations with which are already in an active phase, and it envisages local support of this company by us both in the pre-tender stage, as well as in case winning we will be actively involved in the actual realization of the project. This is the first such purchase in the history of independent Georgia, and it is very attractive to us for this reason and for its content. We will be proud if our company contributes to the implementation of this historic project. The telescope which is operating there as of now was installed 85 years ago. Can you imagine what a huge technical difference will be between the old and the new telescope? We plan to implement this project with an involvement of the manufacturer, without an investor.
--What other projects are you working on, what are your future plans?
We also have 3-4 ongoing large (budget 3 million and more) and very interesting projects in the field of agriculture, medical education, and sports infrastructure where we are actively searching for investors.
By the way, our offer is quite interesting for investors, subject of duration of the project and the profitability margin. Depending on these we offer them an annual interest of up to 10-15% on the amount invested. We also allow investors, who have no free working millions but have property, to participate in different projects by securing an advance bank guarantees and, consequently, partial advances. And most importantly, we are a team of free-thinking young people with quite big experience, and we do not limit ourselves to consider diverse offers. We look at the development of the company more in the long term scope, and therefore, along with the financial benefits, more important for us is development at this stage.
Contact us for a personal meeting, and to learn about our offer in more details:
