Comments from the CEO
CEO Per Wallentin gives his comments on Knowit’s Annual Report for 2024.
Per Wallentin, Chief Executive Officer and President.
The year we put behind us has in many ways been shaped by dramatic changes and uncertainty as well as technical development and innovation. War, inflation, and geopolitical worries have created a challenging environment for companies and authorities in the Nordic region, and the digitalization market has continued to weaken as an effect of delayed investments. At Knowit, our intensive work to optimize our organization and work proactively with our clients and partners have showed results and we are closing the year on a solid ground, ready for continued development.
Despite a tougher market, we have worked intensely throughout the year to meet our clients’ needs and ensure that we have a client offer that is relevant for current times. Our focus has been on intensifying sales activities, deepening our client dialogues, and retaining long-term, proactive relations. At the same time, we have taken important steps to optimize our organization and strengthen our internal efficiency. At the end of the year, we had around ten percent fewer employees, which means lower personnel costs, but also an increased focus on developing our employees’ competence to match clients’ needs.
Through dedicated work and a clear strategy, we have gradually improved the use of our capacity. We have seen a gradual improvement of utilization, in particular in our largest business area, Solutions. This is proof of the strength of our teams and our ability to adapt to changed circumstances.
The possibilities of tech strengthen Knowit
Technical developments continue to change how we work and live. Tech helps companies strengthen and retain their competitiveness and operate in a world with increasing demands on security. For us at Knowit, being at the cutting edge of this development is a given. Regardless of the economic climate, our clients continue to invest in cloud services, data-driven development, and cybersecurity – areas in which Knowit is well-positioned as one of the leading players in the Nordic region.
The breakthrough for AI gives us and our clients new possibilities for automation, optimization, and value creation in ways that were not previously possible. By integrating AI into our solutions, we help our clients navigate the challenges of today and to create long-term competitiveness.
The breakthrough for AI gives us and our clients new possibilities for automation, optimization, and value creation in ways that were not previously possible. By integrating AI into our solutions, we help our clients navigate the challenges of today and to create long-term competitiveness. A good example of how we currently use AI to support our clients to become more innovative is the packaging solution AIDEN, an AI bot for packaging recommendations, that Knowit has created together with Boxon. This innovation contributes to a decreased climate footprint, improved customer experiences, and a more efficient process of finding the right packaging.
During the year, we have strengthened our position in the defense sector, where the need for digitalization and innovation is larger than ever before. Here, our work is an important contribution to society’s security and development, and we have established partnerships with both the Swedish Armed Forces and the Defence Materiel Administration, as well as close collaborations with international armed forces.
During the year, we have reinforced our competence through new recruitments and implemented training initiatives in the defense sector for our employees.
A focus on our employees
Our employees are and remain the heart of Knowit. Even in times when the focus on recruitment has decreased, we have continued to work to be one of the most attractive employers in our industry. By investing in education and creating effective, cross-functional teams, we are now stronger and better equipped to meet a changing market.
Being an attractive employer is also about creating a workplace where our employes feel inspired, motivated, and included in our future. This has always been a strategic priority for us, regardless of the economic climate.
2024 has been a challenging year, but also a year of learning and development. We are now stronger, more focused, and better equipped for the future.
A sustainable shift – a priority for the future
Sustainability is a central part of our strategy, for both us and our clients. Regardless of the economic climate, the shift to a more sustainable society is not just important, it is absolutely crucial.
We see that our clients continue to prioritize sustainability and that digitalization has a key role in this shift. We are proud to be a partner that facilitates this journey, through both our technical solutions and our advice.
Moving forward together
2024 has been a challenging year, but also a year of learning and development. We are now stronger, more focused, and better equipped for the future. I want to thank all our employees for their hard work, commitment, and professionalism. I also want to thank our clients and partners for their confidence and for the collaborations that make us stronger together.
We look forward to meeting 2025 with renewed energy and the ambition to remain a leader player in the Nordic digitalization market. Together, we can meet the possibilities of tomorrow and create solutions that make a difference – for our clients, our employees, and society.
Per Wallentin
Chief Executive Officer and President
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