30/05/2017
Digital excellence a key challenge /
New innovation labs drive digital transformation
The msg group grew its revenue yet again in 2016, recording the highest revenue development in the history of the company at 812 million euro. Annual revenue in 2015 was still just about 727 million euro. After experiencing above-average growth this last year, the company now aims to achieve even more significant revenue growth this year, with plans to increase its numbers by about 11 percent. They also plan on hiring around the same number of new employees as they did in 2016. In 2016, msg managed to hire more than 1,000 new employees at their global locations in a single year, despite the shortage of experts and trained staff the era of digitalization has created. They intend to sustain that growth over the next few years as well. 2017 saw msg being recognized as a “Great Place to Work” for the second time.
A wide range of industries and strong collaborations as key success factors
To help ensure its future growth, the msg group is relying on a variety of factors, including the experiences they have gained from collaborations in a wide range of industries. “Today’s markets are opening up and are even easier to penetrate than ever before. Cross-disciplinary cooperations often result in new, innovative business models,” explains Hans Zehetmaier, Chairman of the Board of Directors at msg systems ag, the company at the heart of the msg group. “We are able to take the experiences we gain from collaborations between our group companies and through our work in a total of nine different industries and use them to develop new ideas and solutions for our customers.” msg is also expanding their business consulting units to help cover the growing demand for consulting in the field of digital transformation.
Digital products and solutions form the basis for growth
A product-based solution approach is and remains a key pillar of msg’s business strategy. “Customers need modern and innovation standard solutions that put them in a position to develop their own customer-oriented business models,” the Chairman of the Board of Directors continues. Which is why in addition to their usual investments, msg will also be investing in digital products and solutions in 2017. That includes the msg.Insurance Suite, a modular insurance solution. The company even presented the latest version of the solution at inscom 2016, msg’s industry event for the insurance industry. Within the banking industry, msg is currently working with a network of partners to develop a new risk and return management platform. With the platform, the partners intend to create and establish a new market standard for regulatory software in Germany. And last, but certainly not least, msg’s partnership with SAP continues to play a key role in the development of product-based solution approaches. For example, msg and SAP are continuing their expansion of the Meat and Dairy Management solutions for the food industry in 2017.
Innovation labs giving new impulse
The competitive pressure digital transformation is placing on markets and companies is forcing business departments and top management at companies to develop even more innovative solutions and even newer business models while also using the latest technologies. The msg group is using their newly-founded innovation labs in Toronto, Canada and Passau and Munich, Germany to give new impulse to these areas. “msg is not only able to offer its customers expertise in the latest technology there is, but also industry expertise based on 35 years of doing business. With that in mind, we are confident about the future and look forward to mastering digital transformation and the challenges it presents,” concludes Hans Zehetmaier.
