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Mariam Koyava

PSP is one of the biggest pharmacies in Georgia, they import and distribute pharmaceuticals in approximately 220 PSP pharmacies located almost in every region of Georgia. Their products are imported from over 100 of the world’s leading pharmaceutical manufacturers. Every month 2 million customers choose PSP as their family's pharmacy.In 2017, SavvY implemented the following services: Full Diagnostics of IFRS, IFRS Implementation and Audit Support. Deriving from the company’s specific business activities the most critical elements were Property, Plant, and Equipment, Inventories, and Revenue.

Georgia

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IFRS Adoption & Implementation

IFRS Implementation in pharmaceutical company

SavvY was the implementing party of International Financial Reporting Standards (IFRS) Capacity Building Activity across Georgia which was initiated by the Ministry of Finance of Georgia’s Service of Accounting, Reporting, and Auditing Supervision (SARAS) and supported by the United States Agency for International Development (USAID) project “Governing for Growth” (G4G).The project had very significant role in supporting the companies in successful IFRS implementation that was required by the new law regarding Audit and Financial Reporting.&nbsp;The project had the following outcomes:<ul style="list-style-type:disc;"><li style="text-align:justify;">The pool of IFRS trainers was created: 30 English-speaking and 58 Georgian-speaking trainers were trained&nbsp;</li><li style="text-align:justify;">The interactive training modules materials and syllabus was created that became publicly available resource&nbsp;</li><li style="text-align:justify;">100 accountants were trained via the newly designed interactive training modules</li><li style="text-align:justify;">35 training modules with the materials amounting to more than 2500 pages were translated to Georgian language</li></ul>&nbsp;<h2 style="text-align:justify;">How We Helped</h2>Together with the international experts, such as Mike Wells, SavvY team helped SARAS to implement multi stage capacity building activity for smooth implementation of IFRS standards within Georgian companies that was required by the new law of Accounting, Reporting and Audit.&nbsp;SavvY did outstanding stakeholder coordination, as this project aimed to increase the capacity of the existing talent pool in Georgia that would result in having lasting effect.&nbsp;SavvY has created different platforms to engage all existing stakeholders in different roles:<ul style="list-style-type:disc;"><li style="text-align:justify;">All existing experts in the field were cordially invited to join the distinguished Review Committee that would thoroughly work on checking the quality of the translated 35 modules of IFRS for SME. Eventually, the Review Committee worked out to be very effective.</li><li style="text-align:justify;">All newly trained and retrained trainers were invited to join the IFRS Training Network that became the platform to share any upcoming training opportunities as well as insights and new developments within the industry</li></ul><h2 style="text-align:justify;">&nbsp;</h2><h2 style="text-align:justify;">Impact and Potential</h2>The project had multiple areas of impact, which include but are not limited to:<ul style="list-style-type:disc;"><li style="text-align:justify;">A new pool of high-quality trainers in IFRS was created – The project created 88 new trainers in IFRS that resulted in the increase of supply of trainings that was indeed of the crucial importance to support the companies to transfer from National Accounting Standards to IFRS. In addition, this activity facilitated additional quite strong income stream for consulting companies and freelancers&nbsp;that started to offer IFRS related training products.&nbsp;</li><li style="text-align:justify;">35 Modules of IFRS for SME translated in Georgian language – these materials were the core stone support while country’s transition to IFRS standards as it enabled the practitioners in the field to have access on the demanded content in the local language. These materials are used even today by the accountants and reporting specialists in Georgia.</li><li style="text-align:justify;">Training Modules in Georgian language – specifically for this project, SavvY designed training materials that were used to train the pilot company’s accountants that were selected for this activity. It’s worth mentioning that these materials are public on the SARAS web page until today and all trainers, even those that did not participated int the training of trainer’s activity back in 2018 are eligible to utilize these resources for their training</li></ul><a href="https://saras.gov.ge/ka/Home/Modules?Length=4">You can see this module on link</a>.

USAID (G4G)

Saras

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Ecosystem Development

IFRS for SME Capacity Building Project

SavvY created a business plan for Goodwill JSC to expand its hypermarket chain and fast food direction. Goodwill is Georgia's first hypermarket chain, providing customers with a diverse range of products. It has its own line of prepared meals, meat products, and confectionery. Additionally, Goodwill stands as a significant importer of food and non-food products from various countries including Germany, Netherlands, Italy, France, Bulgaria, and Ukraine.<figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:31.58%;"><col style="width:68.42%;"></colgroup><tbody><tr><td><h2>How we helped</h2></td><td>Throughout the project, SavvY’s&nbsp;team investigated the main target markets and assessed the potential demand.&nbsp;</td></tr></tbody></table></figure>The market investigation included secondary research, statistical data analysis, as well as primary research, face to face interviews with the sector representatives. On top of that, the team explored direct competitors operating in the local market&nbsp;and&nbsp;assessed their concept, pricing strategy, strength and weaknesses, and their current financial position.&nbsp;In the end, the team came up with the business concepts describing the business model, emphasizing the competitive advantage of the project and further development potential.&nbsp;Finally, a detailed financial model was prepared and various scenarios were discussed.<figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:25.15%;"><col style="width:74.85%;"></colgroup><tbody><tr><td><h2>Impact and potential</h2></td><td>As a result,&nbsp;the&nbsp;client was provided&nbsp;with a detailed business plan document with information about&nbsp;favorable and&nbsp;unfavorable conditions for business development in Georgia.</td></tr></tbody></table></figure>&nbsp;

Goodwill

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Business Plan

Investment Teaser

Ready-to-eat and semi-finished food production

SavvY has been a trusted partner to Sodi Investment, an investment fund and direct subsidiary of Guibor (a multi-sector investment company) providing comprehensive investment and financial advisory services. The primary objective of our involvement has been to assist the fund in navigating the complex investment landscape by offering independent financial advice, evaluating potential investment opportunities, and monitoring the financial performance of the investment portfolio.Sodi Investment focuses on real estate, with a concentration on both residential and hospitality sectors. The company’s core vision revolves around revitalizing old and historical buildings by infusing them with modern style and functionality.<h2 style="text-align:justify;">How We Helped</h2>SavvY played a strategic role in supporting Sodi Investment across the full investment lifecycle. Our work focused on empowering the fund with expert insights, data-driven analysis, and strategic financial advice. Key areas included:<ul><li style="text-align:justify;">Investment Evaluation &amp; Financial Modeling - We provided rigorous financial analysis and modeling to assess potential deals, ensuring each opportunity aligned with the fund’s objectives and market realities.</li><li style="text-align:justify;">Performance Monitoring &amp; Reporting - Through continuous tracking and evaluation, we helped maintain financial discipline across the portfolio, offering regular insights and updates to support data-informed decision-making.</li><li style="text-align:justify;">Strategic Financial Advisory - We acted as a trusted advisor in high-stakes financial negotiations and transactions, ensuring optimal financial terms and long-term value for shareholders.</li><li style="text-align:justify;">Audit &amp; Compliance Oversight - When needed, we facilitated external audits to uphold transparency, compliance, and investor confidence.</li></ul><h2 style="text-align:justify;">Impact and Potential</h2>Our engagement with Sodi Investment has enabled the fund to make well-informed, strategic investment decisions while maintaining financial discipline and operational transparency. The advisory support has been crucial in ensuring the financial soundness of investment opportunities and optimizing the overall performance of the portfolio. Through our active monitoring and expert financial recommendations, we have helped the shareholders enhance their investment outcomes and ensure the sustained success of their portfolio.This ongoing partnership highlights SavvY’s commitment to providing sophisticated, personalized financial and investment advice that supports long-term growth, financial efficiency, and success for institutional investors.

Sodi Investment

 Financial Management

Investment Advising

Financial Reporting

Fundraising

Sodi Investment Fund Advisory & Financial Management

SavvY has been a trusted partner of Kinor Investment, an investment fund, providing expert investment and financial advisory services. Our primary goal has been to guide the fund through the complexities of the investment landscape by offering independent advice and closely monitoring the performance of its real estate investment portfolio.<h2 style="text-align:justify;">How We Helped</h2>SavvY provided end-to-end financial advisory to support Kinor Investment’s strategic goals. Our core contributions included:<ul><li style="text-align:justify;">Investment Evaluation &amp; Financial Modelling - We built and assessed financial models grounded in market realities and shareholder priorities, delivering clear recommendations on investment viability.</li><li style="text-align:justify;">Performance Monitoring &amp; Reporting - We provided ongoing financial oversight across the portfolio, delivering regular performance updates and actionable insights, and ensuring transparency through access to essential data.</li><li style="text-align:justify;">Quarterly Financial Reviews - We conducted structured quarterly reviews of all active investments, identifying areas for improvement and helping boost financial efficiency.</li><li style="text-align:justify;">Audit &amp; Compliance Support - We facilitated external audits when needed, ensuring financial accuracy and alignment with industry standards to reinforce trust and compliance.</li></ul><h2 style="text-align:justify;">Impact and Potential</h2>Through our collaboration with Kinor Investment, the fund has been able to make informed, strategic decisions, maintaining both financial discipline and transparency. Our advisory services have played a crucial role in assessing the financial soundness of investment opportunities, optimizing the overall portfolio performance, and enhancing financial efficiency.&nbsp;

Kinor

Kinor Investment Advisory & Financial Management

Press Releases

<figure class="image"><img src="/uploads/maxresdefault_595fa05b0f.jpg" alt="maxresdefault.jpg"></figure>In a recent episode of her original program “Business 360 Degrees,” Mariam Koyava explored the state of venture capital in Georgia and what it will take to foster globally successful startups.- The discussion evaluated the current startup ecosystem and identified the key requirements for enabling global success stories.- The segment featured Sturgeon Capital, now the largest international VC fund operating in Georgia, with nearly USD 3 million invested in three high-potential startups - Payze, Cargon, and Klipy.- A major challenge highlighted was Georgia’s limited market size, which poses difficulties for building scalable businesses that align with global VC expectations.- As digital transformation accelerates worldwide, emerging markets like Georgia face a pivotal point. While the country boasts entrepreneurial drive and strong technical talent, its ecosystem still lacks the deep infrastructure, investment culture, and scale necessary for global competitiveness.What’s needed to accelerate growth? A precedent, a breakout startup that scales globally, a success story showing others new possibilities.Key insights from the discussion: •⁠ &nbsp;⁠Georgian startups must develop a clear understanding of global markets. •⁠ &nbsp;⁠Local investment is essential to close early-stage funding gaps and attract international capital. •⁠ &nbsp;⁠Venture capital has the potential to drive innovation not only in tech but also in traditional industries such as logistics, financial services, and&nbsp;agriculture.<a href="https://youtu.be/VQTcuHywbSc?feature=shared">To view the full interview, please follow the link</a>

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Venture capital in Georgia - Business 360° with Mariam Koyava

News

<figure class="image"><img src="/uploads/1752842459692_af25e68d0b.jpeg" alt="1752842459692.jpeg"></figure>As part of the International Transport and Logistics Exhibition, SavvY’s Associate Partner, Giorgi Gudabandze, moderated two panel discussions that addressed some of the most critical dimensions of Georgia’s transport and logistics sector development.This comprehensive session brought together a diverse group of leaders from the air, land, and rail freight sectors, along with experts in cargo insurance and logistics digitalization, to provide a 360-degree perspective on Georgia’s freight and logistics landscape.The discussion addressed a wide spectrum of critical issues, including operational realities, infrastructure capacity, digital transformation, and the country's ability to improve both regional and global connectivity.Panelists included:▪ Giorgi Zumbadze, CEO, SkyLog ▪ Levan Chkhatarashvili, Commercial Director, Silkway West Airlines GSSA Okilogistics ▪ Lika Useinashvili, CEO, Aramex Georgia ▪ Natia Bedineishvili, Executive Director, MSZ Georgia ▪ Mikheil Gotsiridze, Head of Sales Department, Royal Express ▪ Maksim Ezik, Director of Innovation, Legi ▪ Mikheil Namadov, Managing Partner, Kairos Logistics ▪ Giorgi Khazhomia, Head of Cargo &amp; Marine Insurance Department, GPI Holding ▪ Giorgi Jgharkava, CEO, Translive ▪ Mariam Zhgenti, Logistics Automation Manager, BDO Digital ▪ Davit Davitashvili, CEO, Tbilisi Cargo ServiceKey themes of the panel included:<ul><li style="text-align:justify;">Systemic infrastructure constraints across all freight modalities and the urgent need to invest in expanding capacity;</li><li style="text-align:justify;">The growing demand for multimodal transport solutions to enhance Georgia’s role as a regional logistics and transit hub;</li><li style="text-align:justify;">Digitalization as a strategic imperative, with emphasis on automation, smart logistics platforms, real-time tracking, and data integration;</li><li style="text-align:justify;">Risk management tools, such as comprehensive cargo insurance, as essential enablers of safe and scalable freight operations;</li><li style="text-align:justify;">Cross-border cooperation and regulatory reforms are needed to improve trade fluidity and long-term competitiveness.</li></ul>Panelists agreed that Georgia’s freight and logistics sector must embrace coordinated investment in physical infrastructure, digital innovation, and workforce development to remain competitive in the global supply chain landscape.

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Giorgi Gudabandze Leads Strategic Discussion on Georgia’s Transport Sector

<figure class="image"><img src="/uploads/0_O9_A0705_3066b7dec8.webp" alt="0O9A0705.webp"></figure>Within the framework of the International Transport and Logistics Exhibition, SavvY’s Managing Partner, Mariam Koyava, ACCA, MIRSoc, led three panel sessions featuring representatives from both the public and private sectors: The first session focused on unlocking the potential of Georgia’s logistics sector. The discussion featured Giorgi Cherkezishvili, Head of the Secretariat of the Investors Council, and Jemal Inaishvili, Chairman of the Tbilisi Dry Port. The panel addressed Georgia’s growing role as a regional transit hub, current infrastructure challenges, and priority directions for sectoral development. Special emphasis was placed on the importance of attracting private investment and strengthening institutional capacity within the logistics sector. The second panel discussion explored investment and financing opportunities offered by the public and banking sectors. Panelists included: ▪ Yulia Stepanova – Senior Banker, Property and Tourism Team at EBRD ▪ Davit Tavlalashvili, Enterprise Georgia – Head of Investment Department ▪Giorgi Darchiashvili, TBC – Director of Corporate Client Services for Medium and Large Businesses ▪ Zurab Gugushvili MBA, TBC Leasing – Commercial Director The session provided insights into existing and upcoming financial instruments that can support logistics and large-scale infrastructure projects. Panelists emphasized the crucial need for in-depth, cross-sector collaboration between public institutions and private stakeholders to effectively mobilize investment in this area. The third panel was dedicated to "Warehouse Infrastructure and TPL Services – Barriers and Development Opportunities." The discussion brought together industry practitioners to highlight key operational bottlenecks and identify practical solutions for advancing Georgia’s warehousing and third-party logistics (TPL) capacity. Panelists included: ▪ Merab Zhgenti Diplomat, Business Development Manager, Diplomat Georgia ▪ Nino Menteshashvili, Director, FedEx The panel addressed regulatory and infrastructural gaps, private-sector investment trends, and the evolving role of warehousing in supporting Georgia’s ambitions to become a modern, regional logistics hub. Panelists also explored innovations in TPL services and emphasized the importance of integrated warehousing networks in enabling supply chain efficiency. All three sessions demonstrated that the development of logistics infrastructure is not only a driver of accelerated economic growth but also a key pillar in strengthening Georgia’s geostrategic position.

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 International Transport and Logistics Exhibition

<figure class="image"><img src="/uploads/maxresdefault_d72eed8f3c.jpg" alt="maxresdefault.jpg"></figure>In today's episode, we kicked off a brand-new topic: Investment Funds - diving into the current landscape in Georgia, the opportunities at hand, and how they can be unlocked.As of 2024, total assets under fund management in Georgia surpassed 200 million GEL. The majority of investments are made through debt instruments, while private equity remains underrepresented.Investment funds are more complex to manage than banks. Globally, only about 30% of funds succeed — meaning they meet or exceed investor expectations.A successful fund typically stands on three pillars:•⁠&nbsp; ⁠Scalable, high-potential companies•⁠&nbsp; ⁠A strong, experienced management team•⁠&nbsp; ⁠Investors who trust and empower that teamAmong these, the management team plays the most critical role, driving strategy and execution.Don’t miss the next episode, where we continue unpacking the dynamics, challenges, and future of this evolving&nbsp;sector.<a href="https://bm.ge/news/biznesi-360-gradusit-kerdzo-kapitalis-fondebi">To view the full interview, please follow the link</a>

Investment Funds - Business 360° with Mariam Koyava

Insights

<img src="/uploads/What_Is_Cost_Optimisation_and_Why_Your_Business_Needs_It_04bb3b9f88.jpg" alt="What Is Cost Optimisation and Why Your Business Needs It.jpg">Have you ever wondered why some companies grow stronger while others fall behind, even when they seem to have the same resources? One of the biggest differences often comes down to cost optimization - the smart, careful process of making sure every dollar that a company spends brings real value.Cost optimization is a powerful strategy that can help businesses improve profits, compete better and use resources wisely. In this blog, we will explain why it matters and how it can help your business succeed. We will also explore how&nbsp;<a href="https://wesavvy.co.uk/services/financial-reporting">Strategic Cost Management Consulting</a> can help companies apply these ideas successfully.Spending Smarter, Not Just LessAt its core, cost optimization means using your company’s finances in the best possible way. Many people think it’s only about reducing costs, but that’s not true. It’s about spending more wisely - understanding which expenses are necessary, which ones are wasteful and where the business can make smarter choices to get better value.For example, a company might review how much it pays suppliers, how much it spends on equipment or how its teams work together. Sometimes,&nbsp;even minor expenses, over time, can weaken a company’s overall profitability.&nbsp;In other cases, the business may need to invest more in certain areas to improve efficiency.With the right approach, cost optimization works closely with strategic cost management, helping make sure cost decisions support the company’s big-picture goals. Without this, saving money today might lower the company’s chances for growth in the future. To handle this process successfully and avoid costly mistakes, some businesses turn to strategic cost management consulting services for expert guidance.Hidden Dangers of Wasted SpendingEven successful companies can waste money without realizing it. They might stick to old processes just because they’re familiar or continue using expensive suppliers without checking the market. Over time, these small issues can become big problems. Without regular reviews, hidden costs quietly grow and slowly weaken profitability, making it harder to invest in innovation and stay ahead of competitors.By focusing on cost improvements, businesses can:<ul><li style="text-align:justify;">Free up money to invest in new products or services</li><li style="text-align:justify;">Improve profits without raising prices</li><li style="text-align:justify;">Strengthen their position against competitors</li></ul>This isn’t just about short-term benefits. Companies that apply cost optimization effectively can build long-term strength. By creating a low cost structure, they stay flexible, adjust to changes and can more confidently invest in the future.&nbsp;Understanding Your Business’s Cost StructureTo optimize costs, a company first needs to understand the cost structure of a business model. This means looking at all the types of costs the company has:<ul><li style="text-align:justify;">Fixed costs, like rent or salaries, which stay the same no matter how much the company produces.</li><li style="text-align:justify;">Variable costs, like materials or shipping, which change depending on sales or production.</li></ul>By analyzing these costs, businesses can identify where they have the greatest potential to make changes. For example, if fixed costs are too high, maybe the company is paying for more facilities or equipment than it actually needs. If variable costs are the problem, maybe it’s time to review suppliers or improve production efficiency.This kind of detailed review is called&nbsp;<a href="https://wesavvy.co.uk/services/financial-management">cost structure analysis</a>, which helps businesses understand where their finances go and makes it easier to identify opportunities for improvement. These insights are central to strategic cost management, where companies make cost decisions that support their long-term plans.Finding Smart Opportunities for ChangeMany companies believe they already have a clear picture of their expenses, but a proper cost structure analysis often reveals surprising results.&nbsp;For example, they may discover they are spending too much on small, unimportant services, overpaying for deliveries because of weak contracts or using outdated systems that waste time and money.By performing this kind of analysis, businesses can:<ul><li style="text-align:justify;">Identify which costs bring value and which don’t</li><li style="text-align:justify;">Compare their costs with competitors in the same industry</li><li style="text-align:justify;">Find smarter ways to get the same results at a lower cost</li></ul>This step is important to be sure the changes are not just guesses and are based on real facts.Where to Start: Building an Action PlanTo start improving costs, a business first needs to collect useful information. This means reviewing all financial data, supplier contracts and operational processes. It also means talking to different teams to understand where challenges or waste might exist.Once the company has this information, it can begin to set goals and plan changes. Maybe the goal is to reduce overall spending by a certain percent. Or maybe the goal is to improve efficiency in one department or process. Once objectives are clear, it becomes easier to measure success.Some companies try to handle cost optimization on their own, but many choose to work with experts who can provide outside knowledge and experience. For this reason, many businesses rely on consulting firms like&nbsp;<a href="https://wesavvy.co.uk/">SavvY</a>. With years of experience helping businesses in many industries, SavvY guides companies through improvements using proven methods, detailed analysis and practical advice.A Stronger, Leaner, Smarter BusinessCost optimization is not just about saving money, it’s about building a better, stronger business. By carefully looking at costs, improving processes and making smart investments, companies can improve their profits, stay competitive and prepare for future success.With tools like cost structure analysis and the principles of strategic cost management, businesses can make sure that every dollar they spend is helping them move forward.&nbsp;Strategic cost management helps connect these efforts to the company’s broader goals, ensuring that cost decisions support sustainable growth and strengthen competitive advantage. For companies that want expert help, working with an experienced partner like SavvY can make this process easier and more successful.In today’s world, cost optimization is not just a good idea - it’s a necessary step for businesses that want to grow, stay flexible and win in their markets.

Hey, I'm Mariam Koyava and I'm gonna help you

Projects I've worked on

IFRS Implementation in pharmaceutical company

IFRS for SME Capacity Building Project

Ready-to-eat and semi-finished food production

Sodi Investment Fund Advisory & Financial Management

Kinor Investment Advisory & Financial Management

See All projects

Publications

Venture capital in Georgia - Business 360° with Mariam Koyava

Giorgi Gudabandze Leads Strategic Discussion on Georgia’s Transport Sector

International Transport and Logistics Exhibition

Investment Funds - Business 360° with Mariam Koyava

What Is Cost Optimization and Why Your Business Needs It

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