In the current strategy period, SPS corporate strategy will focus on the following key priorities:
In our portfolio we expand our onsite document logistics and mailroom business by introducing new services and capturing adjacent growth opportunities within our Enterprise Workplace Solutions (EWS) business.
Since our last report we have successfully expanded our front-of-house and ambassador services, and are on the verge of launching SPS Nexus, a digital platform designed to organize hybrid working, allowing employees to effectively work with maximum efficiency, whenever, wherever.
In Technology Business Solutions (TBS), we develop new growth lines, driven by technology and right-shoring, with a particular focus on the BFSI and healthcare sectors.
To accelerate this growth, we have hired a global leader for the BFSI service line to address this target segment across regions. A current key focus area is becoming the leader in the industrialized application of GenAI in business processing. SPS—Defining the future of banking.
We continue to evolve our customer communications solutions towards an end-to-end, omni-channel, one-stop-shop platform. This includes seamless integration with our TBS offering, demonstrated by recent breakthrough deals in the German banking sector
Strategically, our growth trajectory is based on both organic growth and targeted merger and acquisition (M&A) activities, particularly within TBS. Last year we successfully completed the integration of the Avaloq Outline business into our customer communications division in Switzerland.
We continue to strengthen our profitability by concentrating on effective contract management and successful contract renewals. This unwavering focus resulted in another successful year with a contract renewal rate of 97%.
Our business strategy continues to prioritize our core markets in Switzerland, Germany, the UK, and the US, while actively leveraging growth opportunities in Asia. Since our last report, we have made significant strides by opening new offices in Japan, allowing us to tap into growth potential in one of the world’s largest economies. This strategic move underscores our unwavering commitment to providing innovative business solutions and enhancing our global reach.
Our expansion into Japan signifies more than just geographic growth. It embodies our mission to bring global expertise closer to our clients and to embrace the rich culture of innovation that Japan is renowned for.
Alongside our expansion, we have seen a higher revenue share for the TBS business, as well as continued growth in the US market. In addition, a landmark moment was achieving the largest contract win in SPS’s history with a global leader in financial services.