Kutia, a software development company based in Pristina, improved its operations through better corporate governance, resulting in its ability to expand its business into international markets. With USAID’s support, the company embarked on a journey to strengthen their corporate governance, transforming its internal management structures and creating capacity to enter new export markets.
The USAID-sponsored approach necessitated implementing a comprehensive governance framework that specified clear delineation of roles and responsibilities, robust financial reporting systems, internal controls, collaborative practices, transparency, accountability, and effective communication. These changes were instrumental in enhancing decision-making and operational efficiency, resulting in improved daily operations.
These changes in corporate governance allowed Kutia to make significant improvements to its business structure and development plans that then allowed for acquiring ISO 9001 and ISO 27001 certifications, which played a crucial role in its expansion into international markets. With a solid corporate governance foundation, Kutia has since ventured into new countries, establishing branches in Albania and Delaware, USA.
“We succeeded because we had a plan, which derived from the application of the corporate governance principles that, above all, changed our mindset” says Arianit Fazliu, CEO of Kutia. “I wish we had undergone this process earlier, maybe two or three years ago. Nevertheless, it’s never too late, as it plays a key role in the development of Kutia on a global level, not just in Kosovo.”
The success of Kutia demonstrates the significant impact that effective corporate governance can have on a company in Kosovo. By supporting companies to enhance their corporate governance, USAID Kosovo Compete Activity is playing a pivotal role in driving the future success of Kosovo’s private sector.
DT Global for USAIDKosovo