Product development
For successful product development, it is important that all parties understand the “big picture” and plan their activities accordingly. The product development team has to be innovative, wholly involved and flexible, and unite the best specialists of different fields.

At Finestmedia, our strength through the years has been the capability of putting together project teams, in which the best knowledge on technology, business development, marketing, and design are represented. We have participated both in the launches of several classic start-ups as well as the projects of big corporations, where new product lines are opened or new markets conquered. In doing so, we have seen both business success stories as well as failures. Our 15-year experience makes us a valuable partner in the implementation of product development projects, as in addition to the capability of delivering high-quality software solutions, we also perceive the real challenges of the project, can offer ingenious ideas to get through the bottlenecks and treat each project as a commercial whole, in which every investment must be economically justified.

The successful implementation of product development projects is supported by the following services

Business analysis

In order to initiate product development projects, we implement business analysis in its broadest sense. As a result of business analysis, a roadmap of necessary technological solutions with the timeline and budget of its implementation is completed. If necessary, this is preceded by the compilation of an adjusted business plan, during which we help to look at the project more broadly than just from the technological viewpoint. We analyse market opportunities and competition situation and together set the primary plans for sales, marketing, organisational structure and everything else that is necessary for launching a successful business. With a complete package, it is possible to apply for necessary financing from investors or the company’s council.

Developing a product

Finestmedia is able to provide a project with the whole resource necessary for product development, incl. project manager, developers, designers, analysts, testers, user interface specialists, lawyers, photographers, translators, etc. Analysts and architects, who are the key members of the development team, step on board already during the business analysis phase and are therefore familiar with the project background when the development starts. We apply the project management methodology, which allows the product to change flexibly, but always implement the development tasks in the order of their importance based on the project’s business objectives and budgetary possibilities.

Support and maintenance

After the completion of software, we offer all the necessary IT-related services in order to guarantee the smooth functioning of the launched business. Our experienced team helps to find suitable solutions of infrastructure, arranges the software hosting, monitoring and implementation of necessary maintenance procedures. We also help to regularly complement the completed software solution, which is almost always necessitated by the changing environment and developing business. Although many necessary support services are offered today by third parties (cloud servers, monitoring services, etc.), everything remains simple for a Finestmedia’s client: Finestmedia handles the communications with the other parties and guarantees the security of the software solution and the stability as a complete package for the client.

Completed works


Maksekeskus (Payment Centre) is a payment exchange and consolidation service offered for the e-merchants of the Baltics. The service has proven to be very popular; within the first 18 months of activity over a 1000 e-merchants joined the system. Finestmedia participated actively in the compilation and implementation of the business plan and created all the necessary technical solutions for the launch of the service.

Alexela Energia

Alexela Energia ( entered the market in the beginning of 2013, when the electricity market opened in Estonia. Today, the company caters to more than 30 000 places of consumption and is therefore the third largest electricity seller in Estonia, preceded by market share only by former monopolistic companies Eesti Energia and Elektrum (Latvenergo). Finestmedia participated actively in the compilation and implementation of the business plan and has created all the software solutions necessary for the sale of electricity and the balance sheet management of the portfolio.


The Digidoc application for iOS and Android platforms was implemented in collaboration with AS Telia Estonia and AS Sertifitseerimiskeskus. As the state-operated DigiDoc software family lacked the support for mobile devices, Finestmedia and its partners created the digital signing and validating application, which is today used by tens of thousands of business users in Estonia. The project was implemented as a social contribution by the partners and its development has not been supported by the state. Finestmedia has been the initiator of the creation of the application and the developer of the applications.


Priit Penjam
Chief Executive Officer
I joined the Finestmedia team in 2005 and have participated in almost all the bigger product development projects conducted by Finestmedia as development manager and member of the board. My main strength is the integral perception of commercial needs and limitations and technological possibilities and complications, which helps to find effective solutions in seemingly extremely complicated situations. Cooperation with clients has, on a number of projects, continued long after the primary software planning and development phase; for example, I also work today as a member of the council for both Maksekeskus AS and Alexela Energia AS.

Phone: +372 522 5262