UAB “Terra IT” is an innovative, fast-growing IT company operating since 2004. The company is a certified Microsoft partner in software development. Working with research institutions, UAB “Terra IT” works for both business and the public sector in Lithuania. The company has built up exceptionally broad experience in the transport, logistics, industry, manufacturing and service sectors.
To increase its competitiveness and range of products, UAB “Terra IT”, together with its partner UAB “Interneto svetainių dizainas”, is implementing the project partly funded by the EU Structural Funds “Research and experimental development for creating innovative high value-added products”. Project number: J05-LVPA-K-01-0280. Project duration: 24 months. Total project value: EUR 251,252.60, of which EU Structural Funds investment amounts to EUR 168,745.23.
The aim of the project is to create, based on research and experimental development, an intelligent system (software) that would help employees of trading companies to place orders for the goods needed and set their prices promptly and automatically, in real time, taking into account the system's recommendations, and, based on these decisions, to create planograms for product placement that allow daily changes to be made continuously when stocking shelves with goods received, thus getting the maximum possible benefit from the goods sold. Taking into account the cost of developing the system and the purchasing power of small and medium-sized trading companies, the software would be provided as a service for a monthly fee.
The project aims to contribute to increasing the activity, efficiency and accessibility of UAB “Terra IT” R&D and strengthening the company's R&D capabilities and innovation potential, which in turn will contribute to increasing the international competitiveness of the company and the Lithuanian economy and accordingly help reduce the gap in economic innovativeness between Lithuania and more developed countries.