Annual Report 2009
- CEO comments
- Events during the year
- This is Precise Biometrics
- History
- Technology and solutions
- Geographical markets
- Market segments
- Customers
- Voices from the industry
- Employees
- Sustainability
- The share and shareholders
- Risks
- Five-year review
- Key ratios
- Administration report
- Financial Reports
- Assurance
- Audit report
- Corporate governance report
- Board of Directors
- Management
- Auditors
- FInancial glossary
- Shareholder information
- Contact
This is Precise Biometrics
Vision and goals
Vision
Precise Biometrics' vision is to be a global leader and independent provider of interoperable and adaptable solutions based on fingerprint recognition intended for small secure platforms, and more complete, end-to-end solutions for specific segments.
Business concept
Precise Biometrics’ business concept is, together with strong partners and through global networks, to offer countries, public authorities, companies and organizations user-friendly and interoperable solutions to determine personal identity in a simple, cost-effective and reliable way.
These companies and government agencies thereby save money through reduced costs for identity checks and password handling, identity theft and fraud. For users this is a simple and integrity-protecting way of identifying themselves.
Objectives
The main objective of Precise Biometrics’ operations shall be long-term growth in value for the Company's shareholders. This shall be achieved through the long-term and strategic choice of profitable transactions, and be implemented though the following strategies and operational objectives.
Operational objectives
Operations shall generate profitable business by helping customers and partners to see which value the Company's technology can bring to their organizations, while at the same time the Company shall also promote Match-on-Card as a standard in the business segments it is active in.
The objective is to be a world leader for Match-on-Card in the smart card market, within the identified and focused segment for SIM cards and bank cards, corporate cards and national ID cards. A world leader in this context can be defined as having the largest contracted and rolled-out volumes of licenses. The objective is also to expand delivery with the integration of Match-on-Card in applications to improve profitability.
A number of new business areas will be created as customer demands are identified and can be applied in a specific vertical market. A complete solution on the basis of fingerprint technology to safeguard a person's identity will be offered for this vertical market. With a complete solution Precise Biometrics can take the overall responsibility for sales and the customer, and can thereby influence the sales cycle. The objective is to create up to four new profitable business areas during a three-year period.
Market strategy
One of Precise Biometrics’ objectives is to develop the Company’s world-leading position and to expand its market shares in the ID card segments, mainly through already established partners.
The strategy for the national ID card markets, which on the one hand are growing in terms of volumes, and on the other are experiencing a much higher degree of competition and pressure on prices, is to establish partnerships primarily with chip manufacturers, but also with smart card manufacturers, and to introduce the technology on a broad front for immediate, or subsequent, activation of the biometric function. Wider access to the Precise Match-on-Card™ technology will require fewer dedicated resources from Precise Biometrics during the selling-in phase.
Resources in this business area will focus on corporate ID, above all via partners such as Gemalto and their sales channels for the .NET card, while the introduction of a new product family of fingerprint readers planned in 2010 will offer the opportunity of additional sales.
We will also be focusing to a certain extent on establishing partners for embedded solutions – Precise BioMatch™ Embedded.
In 2010 and the next few years Precise Biometrics will be working actively to create end-to-end solutions for specific customer requirements, where the strategy will be to develop conceptual solutions and product demonstrations of biometric solutions that can be verified in different vertical market segments. The motivating factors for these solutions are that they address tangible problems and create extra value in the form greater efficiency, higher potential earnings, or reduced costs for the customer.
Selected segments will be systematically processed both via already established networks and external campaigns, with the objective of starting pilot installations within six months.
Partner strategy
As an integral part of the Company’s strategy, Precise Biometrics establishes partnerships with the most important and often market-leading players in each selected segment. One example of this is the partnership with Gemalto, which is the world’s largest supplier of smart cards.
Patent strategy
Our overall patent strategy focuses on Precise Match-on-Card in order to secure the rights to our own technology, to create value for future transactions, and to enhance competitiveness.
Work involving patents focuses on finalizing current patent applications and applying for new and relevant patents. In future the Company will be concentrating on patents in the area of mobile applications of Match-on-Card.
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