Inside information: QPR Software Plc refines its strategy and renews its financial goals, plans a change in the organizational structure that supports the strategy and initiates change negotiations
14 Dicembre 2023 - 5:00PM
Inside information: QPR Software Plc refines its strategy and
renews its financial goals, plans a change in the organizational
structure that supports the strategy and initiates change
negotiations
QPR SOFTWARE
PLC
INSIDE
INFORMATION
14 December 14, 2023, at 6 p.m. EET
QPR Software Plc ("QPR
Software" or the "Company") has decided to refine its current
strategy to reflect market changes and the Company's priority
areas, and to announce renewed financial goals for the strategy
period. To support the company's adjusted strategy, the company is
planning a change in its organizational structure and will on
December 14, 2023, per the Act on Cooperation submit a negotiation
proposal to start the change negotiations.
Adjusted
strategy
In accordance with the
refined strategy, the Company profiles itself even more strongly as
a software and SaaS player and as a consultant for its core
business areas as well as a leading player in Digital Twin of an
Organization (DTO) technology. The aim of the refined strategy is
to further increase the value the Company produces for its
customers and to support the Company's growth through
concentration. The Company's mission is to innovate, develop and
deliver software for analyzing, monitoring, and modeling the
organizations’ operations. The Company also offers consulting
services to ensure that customers get full value from the software
and related methods.
In accordance with the
adjusted strategy (2024–2027), the Company focuses its business on
the international growth of SaaS solutions offered by Digital Twin
of an Organization (DTO) and the process mining at its core. The
Company's DTO offering also includes software developed for
modeling and managing and measuring the organization's strategy and
performance.
The Company's revised
financial goals for the strategic period 2024–2027
are:
- Average twenty (20) percent annual SaaS
growth,
and
- Sustainable operating profit.
The Company’s management
estimates that the size of the process mining market in 2022 was
approximately $1.1 billion. The management estimates that the
market continues to grow at an average annual rate of around 49%
and reach $28 billion by 2030. The demand for Digital Twin of an
Organization technology is expected to grow with the development of
the process mining market. The management estimates also that the
modeling and organizational strategy and performance management
software market is also around $1.0 billion. The market is quite
mature but continues to grow at an average annual percentage rate
of single digits.
The Company also
continues to build new strategic partner networks in accordance
with the strategy announced on March 10, 2022, to achieve a
scalable Go-to-Market model, expand its own offering and improve
the value it provides to its customers together with technology and
implementation partners. The Company concentrates its growth
investments in Europe and the Middle East and, through a partner
network, on new market areas such as North America.
Change in
organizational structure and change
negotiations
In the change
negotiations, the Company plans to change its organizational
structure related to the adjusted strategy. The goal of the planned
changes is to support a more efficient organization of QPR's
operations, to try to respond to changes in the operating
environment, and to renew the organization's structure in order to
achieve the Company's long-term growth and profitability
goals.
Change negotiations are
held separately in both QPR Software Plc and QPR Services Oy. A
total of 39 people are involved in the negotiations.
According to preliminary
estimates, the measures that may be implemented after the change
negotiations of both Companies could lead to temporary layoffs of
the personnel for a maximum of 90 days and, in addition, the
termination of a maximum of six (6) positions at QPR Software Plc
and a maximum of nine (9) positions at QPR Services Oy.
The negotiations will
start on 21 December 2023 and last two (2) weeks in accordance with
the Act on Cooperation.
For further
information:
Heikki
Veijola
Chief Executive
Officer
QPR Software
Plc
Tel. +358 40 922
6029
About QPR
Software
QPR Software Plc (Nasdaq
Helsinki) provides process mining, performance management, and
enterprise architecture solutions for digital transformation,
strategy execution, and business process improvement in over 50
countries. QPR software allows customers to gain valuable insights
for informed decisions that make a
difference.
www.qpr.com
DISTRIBUTION
Nasdaq
Helsinki
Key
medias
www.qpr.com
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