1 billion for the Lithuanian economy: investing in the growth of the business services sector
Ministry of the Economy and Innovation is investing in the automation of business processes in business service centres in Lithuania. From the €1 billion economic stimulus package, a €3 million call for project implementation plans has been launched for business service centres wishing to automate their business processes. The aim is to create a favourable environment for the development of global centres and to accelerate the growth of this sector.
"The technology revolution is changing the global business service centre business model, and this instrument is a response to the changing needs of the industry. The technological solutions we have put in place will save staff time, which can be dedicated to high-value-added tasks. This will not only enable the creation of new jobs, but will also create a favourable business environment and make it easier to attract new service centres to set up in Lithuania," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The tool will allow business service centres to automate management processes, as well as operational processes such as sales or marketing, and ancillary processes such as accounting, recruitment, etc. Up to 50% of the total project costs will be financed. The project activities will have to be implemented within 15 months from the signing of the contract.
The projects will be implemented by selected project promoters - Business Service Centres (BSCs) established in Lithuania - which will be able to use the funding to assess the potential of Robotic Process Automation (RPA) and Artificial Intelligence (AI) solutions, and to design and develop these solutions. This will enable them to automate routine, repetitive operations, reduce process costs and improve quality.
The number of business service centres in Lithuania has grown rapidly over the last six years, with around 90 service centres currently operating in the country, employing around 23,000 professionals providing complex services to clients worldwide. Business service centres have dozens or even hundreds of processes that are suitable for automation, but around 61% of centres have not automated a single process yet.
The Central Project Management Agency will accept the project implementation plans by 31 May. Full terms and conditions of the Facility are available at www.esinvesticijos.lt.
Last updated: 15-02-2023
Related news:
Plans to build a film studio in Vilnius: Cooperation Agreement Signed
30 million euros in additional funding for investments in innovative businesses
The State Audit Office's recommendations support the ongoing transformation of innovation policy
E. Grikšas: We are allocating more than 105 million euros in additional funding to businesses