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.
DISTRIBUTION
Nasdaq Helsinki
Key medias
www.qpr.com
