Insights 28 June 2023

Bluebik foresees 5-fold growth in 2025 on full-scale overseas strategies and sustained service expansion

Bluebik Group Public Company Limited (BBIK), a leading consultancy on end-to-end digital transformation, is upbeat on its strategies which prove to be effective regarding the upward revision of its projected revenue growth rate from 100% to 120% to reach 1.2 billion baht worth of income this year. The company is expanding its overseas business which is likely to result in the record-breaking increase in its revenue from European and Southeast Asian markets this year. Bluebik also plans to break into the American market where there is huge demand for IT outsourcing. The company proceeds with its 360-degree business expansion which covers both existing services as well as new products and services to achieve its five-fold growth in 2025 compared with its performances in 2022 when it generated 564 million baht in revenue.

Bluebik is also actively developing generative AI products in response to the growing application of AI in the business sector. Bluebik intends to make generative AI products another important service category of its business that will help increase its recurring income. It is ready to develop such products and services with its business partners.

Pocharara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited (BBIK), said Bluebik will mark the 10th anniversary of its business in September. Since its foundation, the company has been achieving the exponential growth of its business and profit in accordance with its strategic plans. Today Bluebik has a solid foundation and is in a state of great readiness. The company provides end-to-end services comparable to those of international digital transformation consultancies and has potential to expand its business and penetrate larger markets.

Bluebik is confident that its plans and goals in the four following areas of activities will play important roles in driving its growth in the next three years.

1.) Overseas business expansion will result in a new high of revenue growth for Bluebik this year and the company will enter the American market.

Bluebik plans to set up a subsidiary in the United States because it has studied the market and found that demand for digital transformation is growing steadily and IT outsourcing is gaining momentum there. Bluebik is confident that its expertise in technologies and business which is its strength can meet clients’ requirements.

Bluebik is also experienced in international services in Asia and Europe. The company is capable of handling large-scale and complicated tasks because it has enough IT experts for its services in Thailand and other countries. The experts have been recruited through Bluebik Technology Centers in India and Vietnam.

2.) Bluebik will unveil its generative AI products suitable for applied business in all industries.

As a consultancy excelling in artificial intelligence (AI), Bluebik knows well that AI can be applied to further develop the business and potential of its clients. Bluebik has created two generative AI software applications on the ChatGPT technology. They are Marketing Intelligence (MI) and Knowledge Management (KM). MI and KM can be applied in the real business world and suit all industries. Bluebik is about to start their application with some of its present clients.

Bluebik always seriously develops new technologies and expects generative AI to help raise its recurring income and strengthen its services.

3.) Digital platform business opens the door to collaboration with partners and new business opportunities.

Apart from HumanOS, the human resources platform that wins recognition from many leading companies in the country, Bluebik has built White Label Platform, a ready-to-use business platform developed with the concept of APIs First (application programming interfaces), which facilitates the connection of different systems. Digital platform business will lead to new collaboration with partners and inclusive growth in many areas.

4.) Endless mergers and acquisitions (M&A) expand end-to-end services and support exponential growth.

M&A is an important plan for the exponential growth of Bluebik. The company focuses on developing cooperation and acquiring the businesses that can strengthen its core services and create new business opportunities.

Given its expansion through M&A, Bluebik has readiness and potential to realize inclusive growth with new business partners locally and overseas. The company expects to close at least another M&A deal this year.

“Apart from synergy between Bluebik and its subsidiaries, overseas business expansion, new product development and digital platform business are our highlights this year. M&A will continue to be a key factor behind the growth of our core services and new business opportunities,” Mr. Pochara said.