Annual Report 2010
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Business areas
IAM – traditional sales
Operations
IAM (Identity and Authentication Management) will be focusing on the Company’s traditional sales such as the ID card sector, as well as the corporate and banking sector. Embedded solutions will also be included in IAM.
Precise Biometrics has been very successful in this market and its references include five national ID cards and ID cards for the employees of government agencies, such as the US Department of State.
Activities will primarily focus on sales of fingerprint readers, Precise Match-on-Card, and Precise BioMatch Embedded.
After the end of the year the Company launched a new family of fingerprint readers, which will be an important tool for IAM's sales activities in relation to the banking and corporate ID card segments.
Objective
The IAM business area already accounts for a large part of Company turnover.
Within IAM the Company will develop its position as a world leader and expand market shares in the ID card segment.
Because this business area is often characterized by long decision-making times, profits can fluctuate between quarters. Nevertheless the ambition is that IAM will be achieving profitability on an annual basis starting in 2011 and thereafter continue to be a profitable business segment. The success achieved within IAM also forms a platform from which the Company can penetrate new markets.
Strategy
The continuation of cooperation with already established partners will enable the objective of IAM to be achieved. The Company now cooperates with world-leading partners like the card supplier Gemalto, and together with these selected partners Precise Biometrics will be packaging and offering complete solutions to end-customers.
The strategy for the national ID card market which, while expanding in terms of volumes, is also experiencing a much higher degree of competition and pressure on prices, is to establish new partnerships with chip manufacturers, and to some extent with smart card manufacturers, in order to introduce the technology on the broadest possible front.
This business area will also be exploring new partners for embedded solutions – Precise BioMatch Embedded.
The sales team in IAM will also be expanded during the year and operations will be conducted from different parts of the world.
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