IBS Group Developed Forecasting System That Predicts Needs in Human Resources for Russian Ministry of Education and Science

IBS Group Developed Forecasting System That Predicts Needs in Human Resources for Russian Ministry of Education and Science

RAMSEY, The Isle of Man, August 8, 2013 /PRNewswire/ --

    IBS Group [http://www.ibsgr.com ], a leading software development and IT services
provider in Central and Eastern Europe, announces that IBS IT Services, a subsidiary of
IBS Group, has successfully developed an analytical system for the Russian Ministry of
Education and Science that forecasts the Ministry's demand for trained personnel.

    This system, which has already been provided to the Ministry, is aimed at determining
demand for professionals based on objective data. This data will also be used by colleges
and universities to determine the number of students that should be enrolled in programs
that are funded by the Federal government.

    Given the market's current shortage of professionals, caused by many factors including
a sharp decline in number of births in the 1990s, it is crucial for Russia's higher
education system to provide sufficient professionals to meet high demand. This is
regulated by the state through the Ministry of Education and Science, which determines
admission targets and distributes them among colleges and universities on an annual basis.
The accuracy of these figures determines the employment opportunities of the students and
whether or not the demand in human resources of the Russian companies will be met.The
system is capable of factoring in different scenarios of economic development (base case,
optimistic and conservative), and determining the most relevant measures to fine-tune the
national education system.

    Using reliable and scientifically proven methods of analysis through socio-economic
modelling will bring the professional education system in line with market demand,
decrease unemployment and make available enough professionals for both state and business.

    Sergey Matsotsky, Senior Vice President of IBS Group, commented, "The forecasting
system that we have developed will enable the Russian Ministry of Education and Science to
adjust more quickly to market demand for professionals.Without a skilled labour force the
economy simply can't develop. For this reason, it is of utmost importance that the
Ministry now has one more reliable and convenient tool to be added to its methodology for
managing the country's professional education system."

    About IBS Group Holding Limited

    IBS Group is a leading software development and IT services provider in Central and
Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it
offers a wide variety of information technology services, such as software development and
IT services outsourcing, IT infrastructure and business applications implementation. IBS
Group has business operations in Russia, Ukraine, Romania, Poland, Germany, Switzerland,
the UK, the USA, Vietnam and Singapore. IBS Group employs more than 8,500 people
worldwide. In the year ended March 31, 2013, the Group reported US GAAP consolidated
revenues of USD870.3 million. IBS Group's Global Depositary Receipts are listed on the
Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR;
Reuters: IBSGq.F)

       
        For more information about IBS Group please visit http://www.ibsgr.com or contact
        Investor Relations:
        Andrei Novikov
        IR Director
        tel: +7(495)967-8000 (ext.3095)
        anovikov@ibs.ru

        Media Relations:
        Ekaterina Beskhizhko
        PR Manager
        tel: +7(495)967-8080 (ext.2963)
        ebeshizhko@ibs.ru

IBS Group Holding Ltd