After stepping in as a CEO identifying that NEXT has a great technology, customers and engineers. I also found that NEXT performed all activities in-house, had a high cost level relative to its current revenues and that there was a lack of strategic thinking in how to best grow the company and scale our business to be successful. We started to bring a new team in place and started to evaluate how we can increase output more efficiently, at lower cost, provide less risk and yet be able to quickly scale when our improved growth agenda starts to take off. One of the conclusions was that the company need to focus on its core competencies and partner with outside vendors for certain functions. In addition, we were looking to find a better balance between high cost countries and more cost-efficient countries while still improving competence at NEXT. We will always own our core patented thermal sensor technology, but we don’t need to do everything in-house especially not certain SW development activities.
After internal dialogs and external analysis, we selected GlobalLogic who is a true SW provider and a Digital Product Lifecycle company. GlobalLogic’s HQ is in Silicon Valley, California US where the world’s top SW expertise is operating from. At the same time the company has SW-hubs around the world and the mix of provided expertise is great. GlobalLogic has experience in working with customers like, Google, Microsoft, HP, Panasonic as well as with other technology sectors globally. GlobalLogic also has experience from working with biometric companies as well as smartphone, PC and other HW related companies. We found this a perfect match for where we are heading.
GlobalLogic started to take over certain areas of our SW activities and took full responsibility for this from 1 July 2020. This after a couple of months handover and knowledge transfer. We have jumped out of the blocks in a great way, our customers and sales staff are now appreciating the improved competence and prompt output from our new team members.
Other benefits for NEXT is that we now have less risks, less legal entities at the same time we are able to much more quickly scale the company with our growth. We look forward to further develop this partnership between GlobalLogic and NEXT.
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