What OLSYS does

OLSYS (legal name Olsys Ltd) is a privately held custom software development and delivery partner headquartered in Northbrook, Illinois, with an additional Chicago office and a globally distributed engineering workforce of 200+ professionals across Central and Eastern Europe, Central Asia, and the Americas. Founded in 2007 as an on-premises development provider for the financial sector, the company has expanded into insurance, healthcare, e-commerce, and retail, and now operates four primary engagement streams: Custom Software Development, Managed Software as a Service (MSaaS), Staff Augmentation, and Managed Support Services. Its go-to-market is enterprise field sales into mid-market and enterprise buyers, executed under custom-quoted B2B contracts with remote delivery as the default format, supplemented by a flexible Expert Network Program for senior and lead-level collaborators.

The technology stack is broad and full-stack, spanning backend (Java, .NET, Node.js, Python, Go, PHP), frontend (React, Angular, Vue), mobile (iOS, Android, Flutter, React Native), cloud (AWS, Azure, GCP, Kubernetes, CI/CD), and e-commerce platforms (Salesforce, Oracle, Magento, Sitecore). OLSYS's most notable proprietary asset is EltegraAI, an AI-driven product development platform the company claims accelerates software cycles by 30% and reduces defects by 40% at enterprise scale, positioned as the foundation of its Next-Gen AI & Legacy Modernization strategic focus for 2025+. Domain concentration is heaviest in banking, finance, and insurance, with named enterprise references including Bank of Montreal (real-time payments microservices), RBS, and ABN AMRO, alongside e-commerce clients such as Rough Country, Marfa, and Eden.

The business model is professional services and managed services, with revenue generated through time-and-materials or fixed-scope custom engagements, dedicated team placements, and recurring managed support contracts. Pricing is not publicly disclosed. OLSYS is founder-owned and independently operated with no disclosed funding rounds, parent company, or institutional investors, and offers no public API, mobile application, patents, or formal industry certifications. Recent strategic emphasis has shifted toward AI-driven delivery automation and legacy modernization as differentiators against a broad competitive set of nearshore and offshore software development vendors.

Name

OLSYS

Legal name

Olsys Ltd

Website

https://olsysltd.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

OLSYS is a privately held, Northbrook, Illinois-based custom software development and managed services partner with 200+ engineers delivering custom software, managed SaaS, staff augmentation, and legacy modernization primarily to enterprise clients in banking, finance, insurance, and e-commerce across the US, Central/Eastern Europe, Central Asia, and the Americas.

Ownership category

akta.pro rank

Product category

Custom Software Development Services

NAICS

Custom Computer Programming Services (541511), Computer Systems Design Services (541512), Computer Systems Design and Related Services (54151), Computer Systems Design and Related Services (5415)

SIC

Services-Computer Programming Services (7371), Services-Computer Integrated Systems Design (7373), Services-Computer Programming, Data Processing, Etc. (7370), Services-Management Consulting Services (8742)

akta.pro primary industry

ERP Implementation & Systems Integration Services (BPAEAGAA)

akta.pro secondary industries

AI/ML Solution Integration & MLOps Enablement (BPAEAAAJ), Enterprise Application Managed Services Outsourcing (ERP/CRM/HRIS AMS) (BPAEAMAI)

Keywords

• Custom software development
• Managed software services
• Staff augmentation
• E-commerce platform development
• Enterprise software engineering

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Others

Revenue model

1. Custom Software Development: Full-cycle custom software development services for mid-market and enterprise organizations including enterprise software engineering, legacy software modernization, and support and maintenance.
2. Managed Software as a Service: Managed SaaS offerings providing support and maintenance for systems in production, including proactive maintenance, security monitoring, reliability engineering, and disaster recovery.
3. Staff Augmentation: Dedicated team services that seamlessly integrate with existing IT infrastructure, providing engineers and technical specialists for project delivery.
4. Managed Support Services: Support and maintenance services for production systems with dedicated experts, guaranteed reaction times, and coverage for cloud infrastructure and applications.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

OLSYS is a custom software delivery and development partner providing full-cycle software engineering, managed services (MSaaS), and staff augmentation for mid-market and enterprise organizations. Their core practice combines enterprise software engineering with specialized expertise in banking/finance/insurance and e-commerce platforms (Salesforce, Oracle, Magento, Sitecore). They also offer a proprietary AI-driven product development platform called EltegraAI that automates software delivery requirements.

Product overview

OLSYS is a custom software delivery and development partner offering a portfolio of services rather than a single unified product. The core offerings include Custom Software Development, Managed Software as a Service (MSaaS), and Staff Augmentation. These are complemented by specialized service lines: Enterprise Software Engineering (including Legacy Software Modernization), E-Commerce Solutions (specializing in Salesforce, Oracle, Magento, and Sitecore), Banking/Finance/Insurance Technology Services, Managed Support Services, and Quality Assurance & Testing. The company also operates an Expert Network Program for flexible expert collaboration. For 2025+, their strategic focus is on Next-Gen AI & Legacy Modernization, delivering bespoke LLM solutions and AI-driven modernization services.

Differentiator

Problem solved

Functional benefit

Brands

• OLSYS Expert Network: A program that brings together experienced technical and non-technical professionals to collaborate with OLSYS on a flexible, trust-based basis.

Products and services

• Custom Software Development Full-cycle custom software development services for mid-market and enterprise organizations, bringing products to market at speed aligned with value creation objectives.
• Managed Software as a Service (MSaaS) Managed hosting and support services for software already in production, providing dedicated expert teams with first-hand system knowledge and guaranteed reaction times.
• Staff Augmentation Scaling engineering teams by connecting organizations with skilled professionals who seamlessly integrate with existing IT infrastructure.
• Enterprise Software Engineering Custom enterprise software development including full-cycle development, legacy software modernization, and support and maintenance services.
• Legacy Software Modernization Transformation of existing enterprise systems including AI-driven legacy modernization, moving to modern architectures and cloud-native solutions.
• E-Commerce Solutions Comprehensive e-commerce services including development, automation, third-party integrations, testing, QA support, creative/design services, maintenance and support, and consulting. Specializing in Salesforce, Oracle, Magento, and Sitecore platforms.
• Banking, Finance, and Insurance Technology Services Software engineering and delivery services for financial sector including enterprise software, application integration, regulatory compliance applications, data analytics technology, and talent delivery.
• Managed Support Services Support and maintenance for production systems covering proactive maintenance, security monitoring, reliability engineering, and disaster recovery/chaos engineering.
• Quality Assurance & Testing Strategy Dedicated QA team undertaking full responsibility for product quality including manual and automated testing, load and performance testing services.
• Expert Network Program Flexible collaboration program connecting experienced technical and non-technical professionals with businesses seeking innovative technology solutions. Includes part-time consulting, pre-sales participation, technical interviews, architecture reviews, and advisory partnership under B2B contracts.
• Next-Gen AI & Legacy Modernization Services Strategic focus area delivering bespoke LLM solutions, AI-driven legacy modernization, and advanced software transforming enterprise technology.

Quantifiable outcome

• 30% faster software cycles for AI-native product development
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability12 records

Feature2 records

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• BairesDev: Nearshore IT services firm delivering staff augmentation and dedicated teams for US enterprise clients across banking and retail — comparable go-to-market and engagement model.
• EPAM Systems: Global IT services and custom software engineering firm with strong Eastern European delivery and deep financial services practice — directly comparable to OLSYS in delivery model, verticals served, and engineering-led value proposition.
• Globant: Global digital engineering and IT services company serving banking, retail, and e-commerce with similar staff-augmentation-plus-managed-services mix and AI/GenAI offerings comparable to EltegraAI.
• SoftServe: IT services firm with Eastern European delivery roots, strong financial services and retail/e-commerce verticals — closely mirrors OLSYS's vertical focus and global delivery footprint.
• Ciklum: Custom software development and engineering services company with Central/Eastern European delivery and verticalized solutions in financial services and e-commerce — directly comparable peer in scale and model.

Emerging players

• Andela: Global tech talent marketplace and engineering services firm connecting enterprise clients with vetted developers — overlapping with OLSYS's staff-augmentation and Expert Network offerings but more platform-model oriented.
• Toptal: Premium freelance talent network connecting enterprises with elite engineers — overlaps with OLSYS's Expert Network Program and high-end staff augmentation positioning.

Broad incumbents

• Accenture: Global consulting and IT services incumbent with large financial services and retail practices; competes for the same enterprise RFPs as OLSYS but at much greater scale and breadth.
• Cognizant: Large IT services and digital transformation provider with deep banking/financial services presence — competes for enterprise modernization and managed services contracts comparable to OLSYS's offerings.
• Deloitte Digital: Consulting-led digital engineering practice serving banking, insurance, and retail; overlaps with OLSYS in legacy modernization, cloud migration, and managed services for regulated industries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/61553137689045
• LinkedInlinkedin.com/company/olsysltd
• Instagraminstagram.com/olsys_software

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OLSYS