Innofactor updates its strategy
Innofactor Plc Stock Exchange Release October 8, 2018, at 9:30 Finnish time
The Board of Directors of Innofactor Plc in its meeting on October 7, 2018, decided to update Innofactor’s strategy. The key points of Innofactor’s updated strategy are presented below.
Mission: Driving the #ModernDigitalOrganization
Vision: The leading provider of organizations' digital transformation in each of the Nordic Countries (Finland, Sweden, Denmark and Norway)
Innofactor's strategy for achieving this vision includes:
- The best Nordic professionals in the Microsoft ecosystem
- Highly productized cloud offering and managed services
- A proactive, value-adding and flexible delivery model
- Innovation creation with leading customers in selected industries
The Innofactor's long term financial goal was not changed. Innofactor’s goal is to grow profitably:
- To achieve annual growth of about 20 percent, of which majority is intended to be achieved by organic growth
- To achieve about 20 percent EBITDA in relation to the net sales
- To keep the cash flow positive and secure solid financial standing in all situations
The main actions for reaching the approximately 20 percent growth and 20 percent operating margin:
- Focus on selected industries and solution areas (customer journeys) that provide the highest growth opportunities and allow us to best scale existing offering in the Nordics
- Focus on current customers and cross sales to get a bigger share of wallet of customers’ digital transformation budgets
- Improving modern digital marketing and sales skills to achieve better and more cost-effective sales results
- Focus on competence planning, recruiting and resource optimization across Nordics
- Shifting revenues from projects and professional services toward products, IP-based and continuously managed services that support selected solution areas and industries
- Strengthening continuously our specialists’ professional skills and improving our leading offering in order for our customers to pay hour price above market average
- Aiming to move to self-organized teams and to reduce organizational layers achieving better communication and faster decision making
- Continuously improving our flexible value-adding delivery model minimizing number of non-invoiced hours and maximizing customer satisfaction
"I am very satisfied with the strategy process, which we went through with the Board of Directors, Executive Board, and other management. Our refined mission describes exactly what we want to offer to our customers: the modern digital organization. Additionally, we updated our strategy to make it correspond better with the actions with which we believe we will achieve the long-term financial goals we have set," says Sami Ensio, Innofactor's founder, main owner and CEO.
On the basis of its strategy, Innofactor will initiate the needed actions.
Espoo, October 8, 2018
INNOFACTOR PLC
Board of Directors
Additional information:
Sami Ensio, CEO
Innofactor Plc
Tel: 9
Distribution:
NASDAQ Helsinki
Main media
Innofactor
Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its over 1,500 customers in commercial, public and third sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has approximately 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. In 2013–2017, the annual growth of Innofactor’s net sales has been approximately over 20%. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. #ModernDigitalOrganization
