BSC WITH A SUCCESSFUL YEAR: SALES SOAR TO CZK 369 MILLIONAugust 2019
Banking Software Company, the developer of proprietary software products for the banking sector with 25-year experience, has had a very successful year. The sales across the group, which sells its software to customers in Europe, Asia and the United States, have grown steadily by nearly 20% annually over the last three years. In 2018 the consolidated sales were 369 million.
All business lines were profitable and the growth was reported on all markets where BSC is present. “We were exceptionally successful in the Czech Republic and Slovakia, where the growth was above average. This is a clear proof that even during its international expansion BSC does not forget its home customers,” says CEO Petr Koutný, commenting on the results.
BSC thinks into the future and investments into company products are the highest expense item of the company. The company invests a significant portion of its operating profit into research and development. In 2018, around 14% of company revenues and over 80% of reported net profit were reinvested into development.
”We invested 62% more funds in development than in 2017. The amount of such investment shows that at BSC we really believe in the future of our products. In future years we want to focus mainly on the growth of revenue from software sales rather than the provision of IT services. It is in software that see our highest added value,” says Petr Koutný, commenting on the BSC plans.
The entry onto the U.S. market, which brought first real results in 2018, was a major achievement. A number of contracts were signed and the digital transformation of first banks in the United States was completed. This year, BSC awaits launch of around five banks and the company believes that in 2020 the number of U.S. customers will hit a two-digit number.
Last year the number of associates working in BSC teams grew against the previous year. The number of full-time employees grew 14% against 2017 to the number of 318, with total fluctuation low at 6%. The growth was achieved by increasing the size of teams at all offices.