When Veselin Jevrosimović is asked what his job is, rather than tell people that he is the Founder and President of technology group Comtrade, or even the President of the Athletics Federation of Serbia, he responds that he is a futurist.
“You have to see in the future and not look behind you,” Jevrosimović says by way of explanation.
Comtrade, he adds, has always embraced a futuristic outlook. “Our vision has always extended far beyond the present landscape to what’s on the horizon and how we can answer the coming trends,” he says.
Jevrosimović founded Comtrade more than 30 years ago as a distributor of computer equipment and services. Today, he presides over a global group of technology enterprises, which is equally successful in software, technology distribution and system integration, and employs over 5,000 people – the majority software engineers.
As a leader in software development, Comtrade has established itself as a global data processing powerhouse, consistently pushing the boundaries of innovation. Ten years ago, thanks to its expertise in data storage, Comtrade was chosen as a member of the CERN (European Organization for Nuclear Research) openlab, contributing to the development of the EOS project.
EOS is the large, distributed data storage system innovated to store data generated in physical experiments, none more so than CERN’s lighthouse project – the Large Hadron Collider.
Jevrosimović knows that, if he hadn’t had a vision to diversify the business beyond hardware over 20 years ago, Comtrade wouldn’t have survived the many crises it has faced – the imprint of which, he jokes, scar his body.
Following his instincts
Founded in an era when few businesses had any in-house IT capabilities, Comtrade quickly became a leader in the hardware space in Central Europe.
“But we needed something new that would propel us into the global landscape,” he explains.
Jevrosimović had already tasted international success with his earlier businesses: a German IT equipment distribution company he co-owned and a computer distribution business in the United States which, at the time, was one of the largest in the world.
“I had a gut feeling software would be the way to go,” he says.
The 2008 acquisition of Hermes Softlab, the largest software company in Slovenia at the time with over 1,000 software engineers, signaled the company’s first steps into the software realm. But the timing couldn’t have been worse, coinciding with the Global Financial Crisis.
It also didn’t help that Jevrosimović knew he had overpaid for the business.
“It wasn’t an easy decision, and everyone told me I was buying a dinosaur and that it would be the end of our group. And, at times it was very painful, because for two years we didn’t have any orders or even enquiries,” he reflects.
But rather than panic, he followed his instincts and used the time to harness the newly acquired expertise and develop its own range of products. His vision paid dividends.
“Two years after the acquisition, we sold our software product to our first big client and after that, bigger companies started to follow,” he says.
Today, its software touches all corners of the globe, with offices in Europe, the United States and Asia.
Some of its leading software companies are Comtrade AI, headquartered in Switzerland and focused on developing state-of-the-art AI and machine learning solutions; Comtrade 360, a Boston-based leader in custom-made data protection and cybersecurity solutions; and Comtrade Gaming, a world-leading software provider in the gaming industry for more than 20 years, with offices spanning from Manila to Ljubljana and solutions deployed by operators world-wide (including Austria, Australia and Africa).
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“As we keep on developing our technology and our own products, we are constantly looking to expand our expertise by founding new startups and pursuing acquisitions in the field, such as AI and machine learning, robotics, computing and other deep expertise,” he says.
A catalyst for resurgence
For Jevrosimović, the acquisition of Hermes was one of the company’s defining moments.
“Like many others during the economic crisis, we endured significant hardships with some believing that it would spell our demise, however, the financial crisis ultimately served as a catalyst for our resurgence,” he says.
One of the biggest lessons he learned from the time was that during times of crisis it’s crucial to invest more.
“Most companies pull back, but my advice is to use that opportunity to expand, be different,” he says. “If you cannot find a solution today, you will find it tomorrow. Patience is key; sometimes solutions emerge with time.”
After all, he knows that if he and his team had rushed during the turbulent crisis years of 2008 and 2009, there’s a high probability that Comtrade would not exist today.
“We were bleeding cash badly at the time,” he explains. “All the financial institutions, all vendors, everyone who knows a bit about our industry, were advising us to let go of 50 percent of our employees.
“I decided not to – if the boat was going down, we would all go down together with it.”
A year and a half later, when Jevrosimović thought he had two months maximum left to stay above water, its lucky break came.
“We started to turn a profit,” he says. “We endured the storm together.”
Cornerstones of the business
He can reflect on the turbulent times today from a position of strength as he looks to propel the company forward. All companies under the Comtrade umbrella are now, as he describes them, ‘highly profitable’.
“We have plans for further global acquisitions in the coming years,” he says.
A key focus will be zooming in on what Comtrade is best at.
“This is providing fast, smart and reliable software solutions that are unique in the market, whether through the continuous growth and success of our gaming business or through the development of new solutions in the fields of data protection and AI,” Jevrosimović says.
Making the impossible possible
Jevrosimović has been a mentor and friend of HYCU for many years. “I can’t stress enough how he has shown me the magic of making the impossible possible,” explains Founder and CEO Simon Taylor.
HYCU is the world’s fastest-growing data protection company in the world, with over 4,000 customers in 78 countries.
“From the start of working with Comtrade, we’ve always understood that they are going to help us to go to market and help us accelerate our development life cycle, and they’re going to be a great partner,” he says.
On its side, HYCU brings to Comtrade a concrete relationship, a true best-in-class data protection software and software as a service product that can also enrich the businesses of Comtrade’s customers.
“That’s emblematic of a very synergistic relationship, where they’re adding a tremendous amount of value to us, and we ensure that its customers’ data is protected no matter the challenge,” he confirms.
The partnership has evolved from its business base to a reciprocal relationship where each shares – and relies upon – wisdom and expertise.
“What that does is it opens up not only new avenues for business, but new avenues for networking, new avenues for relationship building and new avenues for life. It is very holistic,” he adds.
“I believe Comtrade really stands above the rest for its ability to bring a true level of innovation to every client engagement. We always feel that we have a true partner that will stand behind and that has our back and makes sure that we work together through the most difficult challenges.”
Jevrosimović, Taylor continues, is somebody who has a unique ability to drive forward and achieve results.
“When you get to work with somebody like that, it can truly be life-changing,” he says.
Jevrosimović sees cybersecurity and AI as cornerstones of the business over the next 10–15 years.
“We have always understood the importance of developing our own products,” he says. “So, we applied this same principle to the realm of AI by establishing our AI Lab to innovate our own tools and solutions. We have extensive AI expertise – even a decade ago, we were employing more than 200 AI specialists.”
Its latest state-of-the-art AI solution has been deployed in a new project funded by the European Space Agency, where Comtrade has a role as the AI work package leader.
This initiative focuses on leveraging advanced AI to revolutionize the manufacturing processes of Stirling cryocoolers, which are essential components for space satellites.
Chosen for its strong background in real-time data analysis, anomaly detection and predictive analytics, Comtrade is developing new data-driven methods to make satellite components more reliable and efficient. This collaboration combines AI technology and precision engineering to address the aerospace industry’s complex challenges.
Partnering for the future
As a teen, Jevrosimović was a member of the Serbian national athletics team and became a university pole vault champion. Today, he’s President of the Athletics Federation of Serbia and a member of the Executive Board of the Serbian Olympic Committee. Still a keen athlete who sees exercise a way of life, he also views business through a sportsmanship lens.
“Business has never been solely about profit but about the drive to compete, challenge yourself and win,” he says.
He has long understood the importance of having a strong team around him, including key partners who are the best in their industries, like HYCU, Swiss Rockets, Boston College, Antaris Space and a Swiss incubator and accelerator dedicated to nurturing and developing biotech startups.
He also knows not to meddle with a winning formula, particularly when it comes to company culture.
“Our philosophy is centered around granting people freedom,” he says. “We don’t operate like an army. Our employees are empowered to work in a manner that suits them best as long as they meet their objectives. Everyone has a plan, everyone has a budget and everyone knows what to do. I don’t need to be a kindergarten teacher.”
With its numbers steadily growing in its offices around the globe, Jevrosimović adds that each company follows its own set of local rules.
“If teams are performing well, there is no need for unnecessary changes,” he says.
Jevrosimović appreciates that he has finally achieved what, for many budding entrepreneurs, is the dream. He hopes his journey can inspire others.
“We all go through difficult times that we think would spell our demise,” he says. “But challenge brings opportunity. Use that opportunity to be different. Trust your instinct. Don’t rush.
“One’s greatest asset is their own mind, something that can never be taken away.”
