When old friends who lived in different corners of the world came together and found out that they were experts in various categories of business, they decided to set up a company covering different types of holdings. That is how HSP Holdings Incorporation was born.
The story of HSP is yet another proof that the foundation of every successful business is partnership of professionals who do what they love and love what they do.
QArea has been cooperating with HSP Holdings Inc. in many areas and has seen numerous examples of their unshakeable expertise, for instance Big Data expert knowledge.
We have decided to learn more about the driving force of the company and their choice for outsourcing vendors and met with HSP Holdings Inc CEO Hooman Motevalli, to talk about IT outsourcing, business partnership, and plans for future.
- Please tell our readers more about your business?
HSP Holdings Incorporation is an investment company, aimed at investing in startups that possess brilliant ideas and big thoughts. HSP’s investments could potentially be provided to many business domains or markets in any region across the world, as long as those projects demonstrate the ability to create value and positive change for all stakeholders involved. HSP projects are designed and implemented by means of organised task forces along with rigorous teamwork.
- What are the key challenges you’ve overcome?
Global teamwork management: we have provided a convenient environment where teams coming from across the world can easily communicate and work with each other.
Different time zones: Experts from a wide range of countries from Australia to Europe to the US have been involved in our projects. They are living not only in different but also completely opposite time zones having the least common time slots.
International talent acquisition: it’s honestly been tough to absorb talents and convince them into sticking with our projects whilst they are having different preferences and cultures. They may sometimes prefer to get hired by a local company than work for an international organization having just virtual communications with its employees.
- What were the key factors to motivate your choice of industry?
When it comes to our passion, in short, we are born to do IT projects!
We also believe that IT industry can revolutionize the world in a positive manner. Besides, Information Technology is the most effective and efficient enabler that could potentially bring democracy, freedom and prosperity.
- How is it like to run a multi-national enterprise with division of your core products into separate niche-relevant products?
As long as you find the appropriate partners, running a multi-national company ironically turns into smooth sailing and even fun! Long-distance communications have considerably become easier than ever in the 21st century as the Internet use has spread widely and a plenty of communication apps are available in the market. HSP management team takes advantage of these technologies in order to contact, oversee and guide other teams worldwide.
- How dependent are you on IT solutions?
Although the projects are outsourced, we are well aware of what is going on! Alongside vendors making endeavour on our projects, the managerial level, the board of directors comprising young and assiduous managers from all over the world have every single detail of these projects under control.
- What were the key factors that motivate your choice for software development outsourcing?
We have outsourced our IT related projects because of the following reasons:
- We were after cost-effectiveness;
- We wanted efficient and quality work;
- We aimed to capitalize on other firms’ best practices.
We were also seeking to obtain the following goals:
- We wanted to enter new markets;
- We intended to prove our capability in managing companies and teams globally.
- Are you also outsourcing any other core business activities?
HSP projects build upon the outsourcing of processes, experts and functions. For the time being, the main domains in which we have done outsourcing include high-tech, social media, financial markets, sports and gaming; the main markets where we have outsourced contain Europe and the United States of America.
- What are the factors you pay attention to while choosing a vendor?
Evaluating our potential vendors, we take the following factors into account:
- Vendors must have high performing teams
- They must provide deliverables on time and on budget
- Vendors are to come up with quality work
- Their past experiences are what ensure the quality we expect from vendors
- Due diligence is also one of the main factors in our assessment
- Why did you choose a Ukrainian partner for outsourcing?
Ukraine, in general, has an incredible history of great IT and also software related projects. QArea, in particular, has been the best option to work with due to its expertise being demonstrated through a huge number of similar projects and also a fantastic pool of talents gathered to help this company thrive and become one of a kind in the IT industry locally and globally.
- Are you planning to amplify and enhance relationships with outsourcing vendors?
Definitely, yes. Having drawn a 20-year roadmap up until 2030, HSP always has strategic approaches in that IT vendors must be involved in our projects for a long period of time. We have planned to cherry pick the most viable vendors of the IT market and get into a long relationship with them. We are currently thinking of a vendor management system which allows us to maintain our real-time connections with various vendors across the globe in the most effective manner.
Lately, such companies as HSP Holdings Inc. have been established more and more frequently but most of them suffer a failure in their first year.
However, background of the company founders and their effective multi-national partnership have enabled HSP not just to break-even but to develop into a successful enterprise with an enormous number of new projects.
Demand for such providers is caused by globalization since IT project needs can be much more efficiently satisfied with the help of companies like HSP, who actually aggregate the most talented resources suitable for a project, manage it taking all the risks associated with these activities. We hope HSP will reach the goals they aim at and QArea is going to do all the best to assist them in it.