Bluebik Group Public Company Limited (BBIK), a leading consultancy and service provider for end-to-end digital transformation, has formulated its new key strategies for a growth rate of at least 70% per annum. Designed for implementation in the next three years, the key strategies focus on rapid business expansion through Bluebik’s Digital Transformation Consulting Services & Digital Platform Portfolio. The expansion will happen in the form of organic growth meaning increased revenue generation by existing key services and inorganic growth through mergers and acquisitions (M&A), joint ventures (JV) and new subsidiaries. This is aimed at introducing technology-related services and products to penetrate new markets in and outside the country and underline the company’s position as a truly end-to-end digital transformation partner.
Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited, said that with the major strategic change the company would have comprehensive services for digital transformation to meet the demand of organizations in all sizes. The company has a more tangible direction for its targeted growth and revenue generation. There are four key strategies as follows.
1. Making core services comprehensive to be a truly end-to-end service provider – This is to meet the digital transformation demand of clients. Bluebik will emphasize service quality and new business activities, especially those related to important technologies and services of post-digital transformation, to increase competitiveness and revenue. The company has started its Cyber Security and Solution Implementation Services because businesses have realized the importance of preparedness to cope with cyberthreats apart from digital transformation. Bluebik Titans Company Limited was founded to handle this business.
2. Investing in digital platforms for future tech – This is to create business opportunities through services related to the digital platforms and IT solutions that can meet new demand and business trends to generate recurring income and reaching clients in all sizes. Seeing growth potential through the digital platforms that support digital transformation and business trends, the company resolved to found Bluebik Nexus Company Limited to produce digital platforms and blockchain solutions.
3. Expanding business overseas to prove its international standard – This is another key strategy of Bluebik to create its business opportunities in big overseas markets with continuous high demand for digital transformation. The company will use its highly capable IT personnel and internationally competitive service fees to break into overseas markets. The company has expanded its Digital Excellence and Delivery services to Europe by establishing Bluebik (UK) Company Limited in the United Kingdom. It is considering setting up more subsidiaries in other countries.
4. Growing through more mergers and acquisitions (M&A) and joint ventures (JV) – Bluebik will actively invest with the partners that are strong and have expertise in the fields that help it further develop its services and business (synergy). This growth plan is also an important mechanism to support above-mentioned plans and will create new opportunities for business expansion with partners in the future for mutual exponential growth. For example, Bluebik together with PTT Oil and Retail Business Public Company Limited (OR) invested in ORBIT Digital Company Limited last year.
“The company has the four key business strategies, knowledge and understanding about business and deep tech which covers technology implementation and software and digital platform development and advantages from its recognized overseas business and foreign IT experts in plenty. So, we are confident that our company will definitely achieve its goal of exponential and sustainable growth,” Mr. Pochara said.
To be the “Truly End-to-End Digital Transformation Partner” is another primary goal of Bluebik’s business development. The company is determined and dedicated to the creation of competitive edge for local and international business organizations amid business uncertainties. This is the reason why Bluebik never stops developing services, looking for new technologies and innovations and improving the expertise of its personnel to help clients turn around, create value and positive experiences, and generate revenue and profit consistently in the era of digital economy.
Bluebik foresees that its business will grow dramatically by at least 70% this year. Its revenue backlog amounts to 448 million baht, as much as 226 million baht of which will be recognized this year. In the first six months of this year, the company generated 243.19 million baht in revenue and 62 million baht in net profit. The revenue soared by 92% from 126.90 million baht during the same period of last year. The net profit was 105% higher compared with its 30-million-baht net profit a year earlier. Recurring income formed about 46% of its recognized total revenue. Last year the revenue of the company stood at 303 million baht.