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Sophio Khidesheli

Fixed Assets Inventory Service„VEON GEORGIA“ is owned by Cellfie, leading international provider of telecommunications and internet services, headquartered in Amsterdam, The Netherlands.In 2019 – 2020, JSC “SavvY” Valuation Department provided fixed assets inventory service to LLC "Cellfie". The project included an inventory of fixed assets on the company’s balance sheet.JSC “SavvY” Valuation Department has provided the following services: physical inspection of fixed assets and assign them with individual barcode stickers, reconciliation of the lists of described fixed assets and the company’s balance sheet.JSC “SavvY” Valuation team has compared and then arranged lists of the fixed assets described during the inventory procedure with the items in the company’s financial accounting system.Market Value Appraisal Service"Cellfie" is Georgia’s third-largest telecommunications operator. The company is owned by VEON, a leading international provider of telecommunications and internet services, headquartered in Amsterdam, The Netherlands.In 2020, JSC “SavvY” Valuation Department carried out an inventory assessment process and determined the market value of the identified assets. Due to the company’s work specificity, the company owns mainly specialized assets (servers), which is one of the most crucial components for the given company to operate.The valuation process was divided into the following stages:Valuation team have audited the assets, identified them to be evaluated and outline the purpose of the valuation, have communicated with stakeholders, identified the company’s expectations and requirements;Optimal methods and approaches for the valuation of movable property were determined.After preliminary analysis, data selection and moving property market research, with selected methods and approaches, the team calculated the market value of the assets.At the final stage, the evaluation report was prepared in full compliance with IVS and IFRS 13 standards.

Cellfie

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Asset Valuation

 Fixed Assets Inventory Service in Cellfie

LTD “New Networks“ Is a private operator of electronic communications network in Georgia. It cooperates with leading telecommunication companies in different countries around the world.In 2019, For LTD “New Networks“, Evalution team of SavvY assessed Movable and immovable property on the Company’s balance sheet. &nbsp;The provided service consisted of the following stages:<ul><li style="text-align:justify;">Inspection of assets, Identify the asset to be valued and the purpose of the valuation, high communication with stakeholders and other Audit Companies;</li><li style="text-align:justify;">The optimal methods and approaches were defined for Assessable property;</li><li style="text-align:justify;">The fair value of the property was determined by the selected methods, and market research of Movable and immovable property;</li><li style="text-align:justify;">after all result agreement , In accordance with IVS&nbsp; and IFRS 13 standards, an evaluation report was prepared. &nbsp;</li></ul>

New Networks

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Asset Valuation in Telecommunication Company

JSC m² Real Estate was established by JSC Bank of Georgia in 2006 and has become a significant player in the Georgian real estate market. In 2018, SavvY’s valuation team for JSC m² Real Estate carried out an inventory count process of fixed assets and inventory located at 25 sites. The final report, which included data about the predetermined characteristics of the units of the assets, was presented to the client.

m² 

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Asset Valuation in m²

In 2022, SavvY Valuation Team conducted the inventory of fixed assets of LTD "Geoplant". The project included an inventory of fixed assets reported in the balance sheet of the company.SavvY Valuation Team performed physical inspection of fixed assets and their marking with individual barcode stickers and reconciled the list of assets identified during the census and reported in the balance sheet of the company.The SavvY Valuation Team compared and reconciled the fixed assets described in the census to the records in the company's financial accounting system.

Geoplant

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 Inventory of Fixed Assets of Gurieli

In 2021, SavvY’s valuation team carried out the census of the supplies of LTD “Crosty Global”.&nbsp; The project included stocktaking of&nbsp;supplies recorded&nbsp;in the company’s accounting system.JSC “SavvY” Valuation Department has provided the following services:&nbsp;Physical accounting of supplies and reconciliation of the results with the list of supplies recoded in the accounting system.JSC “SavvY” Valuation Department&nbsp;prepared the inventory report and the appropriate policy document on inventory process.

Crosty Global

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Census of The Supplies of Crosty

Insights

<img src="/uploads/what_is_working_capital_1f73283076.webp" alt="what is working capital">If you’ve ever wondered how some businesses always seem to stay strong, no matter what, the secret is simpler than you think: working capital, which isn’t just about making sales or reducing costs, but about having enough financial resources to make sure that the business keeps moving forward.A company with sufficient working capital can pay its bills on time, invest in growth, and handle unexpected expenses without stress. On the other hand, poor working capital management can lead to cash flow problems, delayed payment,s and even more serious financial trouble.In this blog, we’ll explain&nbsp;<a href="https://wesavvy.co.uk/services/financial-management">working capital&nbsp;</a>meaning, how to calculate it and why managing it well is key to a company’s financial growth. But before we go further into why it is essential for success, let’s first understand what is working capital and why it’s so important for business leaders.<h2 style="text-align:justify;">Clarifying the working capital definition</h2>Understanding working capital meaning is essential for any executive who is focused on financial stability. While sales and profit are important, without enough working capital, a company may have trouble covering everyday costs, which can cause more and more problems.&nbsp;In the business world, working capital is a key number that shows how strong a business’s finances are. It’s the difference between what a company owns (like cash, money from customers and products) and what it owes (like bills and short-term loans). It also tells you, if a company can pay its bills and keep everything running without problems, at the same time.&nbsp;This is why business leaders pay close attention to working capital. They understand that managing it well opens the door to new opportunities. With effective management, companies can grow and reduce financial risks.However, while working capital is essential for daily operations, there are other financial tools that are also important for bigger projects and long-term growth.<h2 style="text-align:justify;">Working capital vs. other financial tools</h2>Besides working capital, which focuses on a company's daily operations and shows how well a business can cover its short-term expenses, there are other financial tools. With them, loans, debt and equity are typically used to fund larger projects. To put it simply, while working capital helps cover everyday costs, loans and debt provide the money that is needed for improvements. However, equity allows a business to raise funds without borrowing.For businesses, especially those that are in development phases, understanding the balance between working capital and these long-term financial instruments is even more important. For this reason, sometimes businesses invest in consulting firms to ensure they manage financial tools effectively. These firms help companies make the right decisions regarding their working capital, loans, debt and equity.&nbsp;<h2 style="text-align:justify;">How to calculate working capital: what you need to know</h2><h3 style="text-align:center;">Working Capital = Current Assets – Current Liabilities</h3>It’s rare to find a business owner or company that doesn’t know the meaning of this formula, which provides a clear picture of a company’s financial status. Understanding how to calculate working capital is essential, but what really matters is knowing the quality of your assets and liabilities. Some assets are not easy to sell quickly for cash, and some bills may need to be paid sooner than you thought. It’s important to know how fast you can get your money, when you need to pay your bills, and how different seasons can affect your cash flow.It is also worth mentioning that working capital management is not just about calculations; it's about making smart choices to keep a business stable and running well for a long time. For top management, having enough working capital is key to staying financially flexible.&nbsp;For this reason, consulting firms like&nbsp;‘’<a href="https://wesavvy.co.uk/">SavvY</a>” can help review and improve strategies to make sure they match your business goals.<h2 style="text-align:justify;">From numbers to strategy, managing working capital effectively</h2>The formula we mentioned earlier is just the beginning. After calculating working capital, the next step is to use that information practically, which is key to running your business effectively. You need to apply this data to make strategic decisions. It’s often said that effective working capital management is about balancing short-term needs with long-term goals to ensure that resources are used correctly.Once you understand your working capital, it can help you make better decisions. By checking it regularly, you can keep your business balanced between having enough cash and growing. For example, if your working capital is high, you might want to invest in new opportunities or grow your business. If it’s low, you may need to reduce unnecessary costs. The key is to stay flexible and be ready for changes in the market.<h2 style="text-align:justify;">Why positive and negative working capital matter</h2>After calculating and using your working capital effectively, the next important factor is understanding whether it’s positive or negative, because it significantly affects how your business works.Positive working capital means you have enough assets to pay your short-term debts and it shows that your business is financially stable. This helps you pay bills on time and take advantage of new opportunities. On the other hand, negative working capital means your debts are higher than your assets, which can make it hard to pay bills and run your business without problems. This situation needs careful attention to avoid cash flow problems. When you know if your working capital is positive or negative, you can make smarter decisions.<h2 style="text-align:justify;">“SavvY” -&nbsp;Your partner in improving working capital management</h2>In conclusion, managing working capital well is important for businesses to run effectively, but as we've seen, it’s not just about understanding the numbers; it’s about making good decisions based on that information. Since working capital and other financial tools are so important, many companies choose to get help from experts.Here’s where&nbsp;“SavvY” can make a difference for your company. This business consulting firm, based in Tbilisi, Georgia, uses a simple and effective approach to help businesses manage their working capital and improve their financial strategies. With good knowledge of the local market and global best practices,&nbsp;“SavvY” helps businesses turn challenges into opportunities.&nbsp;

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What is Working Capital? Understanding Its Importance and Role in Business Success

News

<figure class="image"><img src="/uploads/Screenshot_2025_04_01_164544_d3b33a61ac.png" alt="Free Industrial Zones – Time to Invest with Mariam Koyava"></figure>There is a belief that, amid high uncertainty and increasing unpredictability in the global economy, special economic zones provide a relatively predictable stable business environment.The World Free Zones Organization (WFZO) estimates that there are 7,000 special economic zones worldwide. However, tracking and identifying which zones are truly active and successful remains a challenge.&nbsp;According to Adrianople Group, there are 4,921 active zones in more than 90 countries.As for Georgia, the country currently has four operational free industrial zones: Poti Free Industrial Zone, Kutaisi Free Industrial Zone, Hualing Kutaisi Free Industrial Zone, and Tbilisi Free Zone.Additionally, two new zones are in development. The Sagarejo Free Industrial Zone is scheduled to begin operations no later than March 1, 2026, while the GIG Free Industrial Zone in Kutaisi is set to open by December 1, 2026.<a href="https://bm.ge/news/tavisufali-industriuli-zonebi-investitsiis-droa-mariam-qoiavastan-ertad">To watch the full interview, follow the link</a>

Free Industrial Zones – Time to Invest with Mariam Koyava

<figure class="image"><img src="/uploads/giorgi_gudabandze_w_h_598e10ae06.jpeg" alt="giorgi-gudabandze_w_h.jpeg"></figure>"The low share of the EU in exports is alarming," said Giorgi Gudabandze, Associate Partner at SavvY, in an interview with BMG.Exports from Georgia to the European Union have dropped to record lows. In the first ten months of 2014, Georgian businesses exported only $456 million worth of goods to EU countries. The EU’s share in Georgia’s total exports fell below 10%, reaching just 8.4%."The country and the private sector are not prepared for a market with high-level requirements. Moreover, Georgia’s recognition as a supplier of specific products in the EU market is quite low, which results in a lack of trust from European buyers in long-term business relationships. Logistics also remains a major issue, limiting Georgia’s competitiveness. We are not fully utilizing our geographical advantages, and as an overall result, our export share remains low," said Giorgi Gudabandze.&nbsp;<a href="https://bm.ge/news/eqsportshi-evrokavshiris-dabali-tsili-sagangashoa-giorgi-gudabandze">To read the full interview, follow the link</a>

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Low Share of EU in Exports is Alarming – Giorgi Gudabandze

<figure class="image"><img src="/uploads/Screenshot_2025_04_01_162636_2de06da5a4.png" alt="fmcg market overview"></figure>In Georgia, consumers spend approximately one-third of their disposable income on food and non-alcoholic beverages. This figure has been steadily increasing over the past five years, rising from 30.09% in 2017 to 33.39% in 2023.According to statistics, the sector's turnover in 2023 reached 20.4 billion GEL, with a CAGR of 17.8% between 2019 and 2023. Additionally, TBC Capital's calculations indicate that the share of the organized market is growing in Georgia as well, increasing from 17% in 2016 to 36% in 2023. Their forecast suggests that by 2025, the organized market share will reach 45%.According to TBC Capital's FMCG sector overview, Nikora is the market leader in sales volume, followed by Ori Nabiji, Carrefour, and Spar.The FMCG market is represented by several large players and is characterized by intense competition. However, in recent years, no significant shifts have occurred in market distribution. In 2024, however, several major market players merged, including Daily, Magniti, Spar, Gvirila, and Ioli, forming a single group. There are expectations—and BMG has insights—that market consolidation will continue.According to the Georgian Competition and Consumer Agency (GCCA), in 2023, nearly 12,000 companies operated in the FMCG retail sector nationwide. One-third of the market is concentrated in Tbilisi, where competition is particularly fierce. However, the share of the organized market remains relatively low in other regions of the country, indicating significant growth potential.&nbsp;<a href="https://bm.ge/news/fmcg-bazris-mimokhilva-saqartvelo-investitsiis-droa-mariam-qoiavastan-ertad">To watch the full interview, follow the link</a>

fmcg market overview

FMCG Market Overview (Georgia) / " Time to Invest" with Mariam Koyava!

Press Releases

<figure class="image"><img src="/uploads/savvy_w_h_3f6be5290a.jpeg" alt="savvy_w_h.jpeg"></figure>A $35 million investment portfolio, three large-scale development projects in Georgia, and over 30 evaluated investment proposals—all of this is the result of a three-year partnership between the business consulting company SavvY and Sodi Investment.&nbsp;The strategic collaboration between SavvY and Sodi began in 2021, supporting the development of Georgia’s real estate market and other key sectors through foreign direct investment.&nbsp;As a consulting firm, SavvY's role is to assess potential investment proposals and monitor the efficiency of the existing investment portfolio. According to the company's managing partner, Mariam Koyava, SavvY evaluates whether an investment business idea aligns with Sodi Investment’s investment mandate and the vision of its founder, Dominique Romano.&nbsp;"We started our strategic collaboration with Sodi in 2021, which involves financial management and investment advisory services. Given the large scale and complexity of the company's projects, we work closely with the management team to assess the financial viability of each project and ensure effective financial management and monitoring of executed investments.&nbsp;Over the past 3.5 years, we have evaluated over 30 investment projects, the majority of which were in the real estate sector, including residential and hotel-type accomodations. While Sodi Investment actively seeks interesting projects and niche investment opportunities, it is also open to potential partnership deals. We assess how attractive, profitable, and strategically aligned each project is with Sodi’s founder’s&nbsp;investment strategy,” says Mariam Koyava.&nbsp;Sodi Investment's portfolio includes large-scale projects, such as a high-end international brand hotel in Batumi. This will be an Accor-branded hotel located in the city's historic district, set to open in a test phase by the end of next year. Another key project is a mixed-use development on the former film studio site in Tbilisi, which will feature residential, hotel, and commercial spaces. The former film studio project is expected to be completed within three to four years.&nbsp;"Based on Sodi’s founder’s vision, restoring, preserving, and revitalizing historic projects is a priority. That is why our Batumi hotel project is centered around reconstructing a historic bank building while preserving its original facade. In addition to financial benefits, every Sodi project must offer advantages not only to investors but also to the local community and the country as a whole,” says Sodi Investment's director, Irakli Alasania.&nbsp;According to Sodi Investment, their partnership with SavvY provides deep sectoral expertise, which translates into tangible results. When asked whether outsourcing financial services is a viable approach, Irakli Alasania explains that working with a consulting firm has fully met their expectations.&nbsp;“For Sodi Investment, existance of companies like SavvY is crucial. SavvY possesses deep sectoral knowledge and experience that is constantly being updated. Flexibility and independence are also key factors, as an external advisor, SavvY is always motivated to remain as unbiased and objective as possible in evaluating investment opportunities.&nbsp;At Sodi Investment, we strive to keep up with market trends in developed countries and introduce innovations. When we considered partnering with SavvY, we made a positive decision, and we can say that the collaboration has been a success. Our expectations were met, and the results speak for themselves,” says Irakli Alasania.&nbsp;Sodi Investment emphasizes that working with a consulting firm ensures continuous service quality.&nbsp;At SavvY, they hope that their collaboration with the investment company will continue even after the completion of the current projects and looking ahead, both sides will work together to expand the investment portfolio. Discussing future cooperation, Sodi’s director highlights that a stable partnership is essential for rapid growth.&nbsp;"A stable partnership is crucial not only for risk management but also for fast growth. We expect that the collaboration and partnership we established with SavvY three years ago will continue into the future,” says Irakli Alasania.&nbsp;<a href="https://bm.ge/news/35-milioniani-sainvestitsio-portfeli-da-sami-masshtaburi-proeqti-savvy-da-sodi-investment-is-3-tsliani-partnioroba">To read the full interview, follow the link</a>

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Projects I've worked on

Fixed Assets Inventory Service in Cellfie

Asset Valuation in Telecommunication Company

Asset Valuation in m²

Inventory of Fixed Assets of Gurieli

Census of The Supplies of Crosty

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Publications

What is Working Capital? Understanding Its Importance and Role in Business Success

Free Industrial Zones – Time to Invest with Mariam Koyava

Low Share of EU in Exports is Alarming – Giorgi Gudabandze

FMCG Market Overview (Georgia) / " Time to Invest" with Mariam Koyava!

A $35 million investment portfolio and three large-scale projects – a 3-year partnership between SavvY and Sodi Investment

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