The research deals with application of the LEAN principles to business processes of a typical IT company. The paper discusses LEAN principles amplifying advantages and shortcomings of their application. The authors suggest use of the LEAN principles as a tool to identify improvement potential for IT company's business processes and work-flow efficiency. During a case study the implementation of LEAN principles has been exemplified in business processes of a particular Latvian IT company. The obtained results and conclusions can be used for meaningful and successful application of LEAN principles and methods in projects of other IT companies.