News & Activities 21 January 2022

‘Bluebik’ Expects Strong Growth Rate of More than 30% in 2022 on Continuous Digital Transformation among Financial Institutions and Insurance Firms

           Bluebik, a leading consultancy on comprehensive digital transformation, is progressing with sustainable growth, expecting its revenue increase of at least 30% in 2022 on the expansion of most of its key services thanks to steadily rising demand for digital transformation. It served at least 30 large customers last year and this year it is confident of continuous and strong growth.

           Mr. Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited (BBIK), said that the company would definitely maintain its strong growth in 2022. Its income from services will rise by at least 30% from last year because demand for digital transformation is growing among customers in various business sectors and they are likely to invest more in the transformation to increase their business capabilities and competitiveness in the digital era and to unlock their growth potential.

            In 2022, Bluebik foresees growth in most of its key service areas – Big Data & Advanced Analytics that will boost organizations’ efficiency in data storage and analysis, Digital Excellence and Delivery which covers the development of digital systems and technology consulting, and Management Consulting that also includes strategies. In addition, Bluebik intends to raise income from its roles as a strategic project management office (Strategic PMO) and new services namely Marketing Transformation and Marketing Strategy.

            “Over the past year we saw large-scaled companies announcing business transformation to deal with changes resulting from disruptive technology or to increase their growth potential. I think that digital transformation is likely to grow further among financial institutions, banks, insurance firms, telecommunications operators and retailers and will be a factor behind the growth of our company,” Mr. Pochara said.

            The Chief Executive Officer of BBIK said 2021 was the year of growth and success for the company because it served at least 30 large-scaled customers. It expanded its customer base to Indonesia and Singapore and income from the neighboring countries formed about 10% of its total revenue in 2021. Besides, customers entrusted the company to maintain its services for them and investors warmly welcomed its listing on the Market for Alternative Investment (mai) in September 2021.

            Moreover, Bluebik has launched comprehensive consulting on marketing strategies (Marketing Transformation and Marketing Strategy) and remains in contact with customers who give it positive responses. The company is implementing projects and receiving new assignments. This year it expects impressive growth from ORBIT Digital Company Limited (ORBIT). Bluebik holds 60% of shares in the joint venture with PTT Oil and Retail Business Public Company Limited (OR) which has a 40% stake through a subsidiary. ORBIT was founded to provide customers with fulfilling experiences created with digital innovation and technological advances that also increase the business value and opportunities of OR.

         “We are confident that our performance in the fourth quarter of 2021 will show strong growth. We expect recognized revenue to reach its target and the total revenue for the whole year should amount to at least 300 million baht because of continuous demand from customers. Besides, the company has a huge backlog in 2022 which will help realize the expected growth,” Mr. Pochara said.