Annual Report 2010
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- CEO comments
- Important events during the year
- This is Precise Biometrics
- Summary of 2010
- Research and development
- Business areas
- Customers
- Employees
- Sustainability
- The share and shareholders
- Risks
- Five-year review
- Key ratios
- Administration & Corporate Governance report
- Financial reports
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- Audit report
- Board of Directors
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- FInancial glossary
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Precise Biometrics in one minute
Precise Biometrics delivers solutions that quickly, securely and reliably replace PIN codes, passwords and keys with fingerprint recognition. The Company’s solutions and advanced technology are used by companies and government agencies all over the world.
The technology
Precise Biometrics supply biometric solutions that include hardware and software for smart cards, computers and embedded solutions.
Precise Biometrics packages its solutions for different market segments. The product portfolio includes Precise Match-on-Card™ – a technology that enables matching and storage of fingerprints on a smart card. Precise Biometrics is a world leader in Match-on-Card and has sold approximately 100 million licenses.
Business model
Precise Biometrics offer both fully packaged end-to-end solutions as well as solutions developed in cooperation with its partners. The Company’s products are therefore sold both directly and via partners to end-customers.
Through a powerful network of selected partners, Precise Biometrics can reach out very effectively to the whole world. The Company’s partners include the major smart card manufacturers, global systems integrators and local resellers as well as hardware and chip manufacturers.
By offering end-to-end solutions to end-customers in some segments, Precise Biometrics acquires the benefits of profitability while also achieving control over the entire sales flow and more easily creates value to the customer.
Business areas
Precise Biometrics implemented a reorganization of the Company’s sales organization in 2010. This was because the Company wanted to adapt to new business opportunities that had developed, and create a more customer-oriented organization. In the year-end report for 2010 Precise Biometrics communicated that as of January 1, 2011 the report would be based on three new business areas: Mobile, IAM and Access Solution.
Read more about these new Business areas
Customers
Precise Biometrics’ solutions are used by global corporations, government agencies, countries and organizations in several different segment areas.
Examples of these applications include national ID cards, ID cards for employees, access and exit control systems to buildings, as well as logon systems for computers and networks.
Precise Biometrics’ technology is used in five national ID cards: The US Department of State ID card for US embassy and consulate employees, and in several other government agency and corporate ID cards in the Middle East, the US and Europe.
Network and industrial organizations
By participating in networks, events and industrial organizations, Precise Biometrics creates new business contacts and interfaces.
Examples of industrial organizations where Precise Biometrics has been active in 2010 include Eurosmart and GlobalPlatform.
During the year Precise Biometrics has participated in three EU-financed research projects together with other companies and research institutes. Two of these projects, both of which started in 2008, were completed after the end of year. Both projects has led to commoditization.
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