Precise Biometrics presents new organization and new business areas
2006-12-19 - Precise Biometrics AB (publ), which develops and sells world-leading and user-friendly biometric security solutions based on fingerprints and smart cards, has decided to implement an organizational change. This will be conducted as part of a new and long-term improvement of efficiency and marketing strategy. The objective is to achieve significant savings through internal coordination, while at the same time future marketing efforts can be more effectively controlled towards several prioritized market segments. The plans follow what has already been described in the Prospectus, which was published in conjunction with the recent new share issue.
The organizational changes will also affect the subsidiaries in the group. The changes are being implemented as part of the work to achieve a significant improvement of cost-efficiency, but also to better coordinate the group’s sales, consultancy and development resources. Precise Biometrics’ CEO Thomas Marschall considers that it is now time to put the changes into effect.
“Since I took over as CEO we have conducted intensive work to analyze the efficiency of the organization and its costs, as well as the prerequisites for enhanced sales and a more effective marketing strategy. We have defined a number of areas where we see potential for significant improvements of cost-efficiency, which are necessary if we are to achieve our target of a positive cost flow, but also exciting opportunities to enhance sales and move forward our position on the market. As part of a new marketing strategy we have, for example, decided to form the new business areas Biometric Aviation Solutions and Biometric Embedded Solutions. In Biometric Aviation Solutions we will be basing our efforts on the success we have had with the biometric application developed for SAS. We are now going to market this concept internationally with the requisite adaptations for different countries, airlines and airports. In the field of Biometric Embedded Solutions our partnership with the Oki Group has produced such positive signals of predicted volume markets that we have decided to initiate more extensive processing of the global market to establish additional partnerships with the major players on the market,” says Thomas Marschall.
The organizational changes mean that the group is expected to reduce the number of employees by about ten persons. Including normal attrition this will mean a 25% reduction in personnel in comparison with the beginning of the third quarter. Thomas Marschall sees this as a necessary, but also natural measure, among other things because the biometrics market is now entering a new phase and the focus is shifting from technology to the market.
As part of better utilizing the synergies that operations in Fyrplus Teknik can produce for the rest of the group, the operations will be more clearly integrated in Precise Biometrics.
“Our ambition to conduct marketing on the basis of a significantly stronger focus on customer requirements and broader solutions, where Precise Biometrics offers more fully comprehensive total concepts in relation to both partners and end customers, means that we must further emphasize the unique cutting-edge competence that exists in the group. Some of this competence is in the subsidiary Fyrplus Teknik and by integrating the sales and consultancy resources to a greater extent under the trademark Precise Biometrics we will be able to offer more attractive solutions,” concludes Thomas Marschall.
Precise Biometrics AB (publ.) is an innovative security company that supplies world-leading systems for fingerprint and smart card-based authentication. The company’s solutions replace keys, PIN codes and passwords and enhance the integrity of ID cards and passports. With its Precise Match-on-Card(TM) technology, the company is a market leader within smart ID cards. The product line includes systems for access control to buildings, computers and networks and for integration into ID cards and passports. The Precise Biometrics group has subsidiaries in Sweden, Great Britain, USA and a joint venture agreement in China. The group headquarters are in Lund, Sweden. Precise Biometrics is listed on the small cap list at the Nordic Exchange in Sweden (symbol: PREC). For more information, please visit www.precisebiometrics.com
- Contact Information
- Ann-Sofi Höijenstam
- Corporate Communications Manager
- Precise Biometrics AB
- Contact via E-mail
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