Annual reports – How we are doing
The data from annual reports provides us with the opportunity to stop, think about how we did in previous years, how far we have come, and what goals we could declare achieved. Looking back, we may certainly feel a considerable degree of pride over each year that has passed.
The global pandemic confronted us with new challenges
2020 was an exceptional year for all of us. The global pandemic confronted us with new challenges. I am glad that our company has passed this test. Over the course of the year, we were able to ensure a full-fledged operation of information systems for our customers, and provide them with care for their end devices. On the other hand, despite the overall decent revenue of the PosAm group at the amount of EUR 35,044 thousand, we were unable to reiterate the very good profitability of the previous year. Its significant decline to 9% can be attributed to a combination of several factors.
The PosAm Group on a solid footing
After the record year of 2019, we were unable to repeat the excellent results in 2020. The onset of the pandemic, combined with austerity measures in the parts of the customer base across all sectors, as well as the financially demanding projects under way, resulted in the worsening of the economic results of the PosAm Group.
It was a challenging year in all respects
From a business point of view, it was one of the most challenging years in the history of the company. The Covid-19 pandemic had the greatest impact in commercial segments. It has significantly changed the purchasing behaviour of customers. The energy sector was affected by the reduction in energy consumption during industrial disruption, which caused the postponement of purchasing decisions on the side of our customers. On the other hand, customers in the finance and telecommunications sectors have sought to accelerate their digital transition programmes. This has been demonstrated by increasing investment in application solutions for online communication, as well as by strengthening infrastructure especially in the area of data storage systems.
We are able to implement even the most demanding IT projects
Thanks to the implementation of two large software projects over the course of last year, the importance of the preparation phase of complex software projects became visible. It is not possible to start any large software projects just by defining a huge set of diverse business requirements; it is rather necessary to develop them into a structured form – the so-called business architecture.
Commander was able to strengthen its market position even during the mobility crisis
Last year was marked by a pandemic. Experts called the citizens to reduce mobility. We saw deserted cities, empty motorways and trains, or the sky without planes. Both ParkDots and Commander are closely linked to mobility, which suffered from the crisis in 2020.
We worked hard despite limited personal contact
There is no doubt that in 2020 the pandemic heavily affected everyday social life. Our company switched to a work-from-home mode literally overnight. Thanks to the specialists who take care of the internal systems and infrastructure, we have not noticed any difference from a technical point of view. However, personal contact has been severely affected. And this is the key to the work of the Human Resources Division. We have, therefore, sought innovative ways to maintain mutual relationships, corporate awareness, and corporate culture. We have transferred the activities related to providing our employees with information to the virtual space. Personal meetings with company management have been replaced by video conferencing. To compensate for the lack of personal contact and person- -to-person connection, we have regularly published colleagues’ stories about the way they manage isolation and the “home office” mode.