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Ambitious growth plans for BI Builders

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by BI Builders

26. Apr 2021, 4 minutes reading time

Ambitious growth plans for BI Builders

2021 marks the 10th anniversary for BI Builders, and the ambitions have never been higher. The company has opened its second international office in Benelux and plans on doubling its headcount by 2022.

"Our goals are ambitious, but we are sending a message both internally and externally that we are serious about reaching them. Since the start, we have had continuous growth in both sales and profit. From 2015 to 2020, BI Builders has had an average annual growth of 48%. A slight decrease in turnover in 2020 is due to the Covid19 effect, which resulted in delays in projects. Several of these have now been implemented so that the company has come out well from the jumping edge in 2021,» says CEO Jarle Soland. 

As part of the growth strategy, BI Builders will open its second international office in Amsterdam. Strategic collaboration with the knowledge house DataToko has been established, which will secure BI Builders' market position in the Benelux. Together, they will help companies develop and improve the automation capabilities of their data platform using Xpert BI software.

In January 2020, a subsidiary was also established in the United States, with representation in New York and Houston.

"Our new investment in the Benelux is based on expectations of growth in a market that is characterized by greater maturity in automation, as well as a significantly larger market in Enterprise, compared with Norway," explains Chairman of the Board Kurt S. Helland. 

The market potential in Europe and the USA means that the company is now expanding internationally. An overview of the US market shows 112,500 companies with more than 100 employees, 20,137 with more than 500 employees (census.gov - 2017 figures). For Norway, the market is different, with 3,500 companies with more than 100 employees, 817 more than 250 (ssb.no - 2021 figures). The US is considered the largest single market for Enterprise Software, with an estimated 29% global market in 2020. Specifically for data warehouse solutions, the global market is expected to grow strongly in the next few years with a 15% CAGR annually and an even higher growth rate in the US and Canada. Against 40% of the global market in value in 2025.

The analysis company, Gartner, confirms the expectations of high international growth in this area.

"We have a strategic goal of reaching a turnover of 160 MNOK by 2024, which is a growth of over 500% measured against 2020. We believe that the company and our software are well-positioned to realize sustainable development as we advance. To achieve these goals, the company will expand through more partners internationally and hire more resources. By 2022, the number of employees in Norway will double from 30 to 60 employees, "elaborates Helland.

One of the essential prerequisites for the company's profitability is a high rate of innovation through continuous software development. BI Builders operates in an international market with demanding customers and intense competition, so it must be at the forefront of developments in its field.

With good support from Innovation Norway, the company's software is under continuous development. At the same time, the company has an ongoing dialogue with external advisers from, e.g., with Gartner and Microsoft on future developments.

"We will now build a larger solution, which will enable more streamlined management. This will lead to an increased focus on sustainability and time for innovation among our potential customers. The solution takes care of increasing the number of IT resources working on the solution, larger amounts of data, more data sources, as well as handling larger amounts of business logic." concludes Soland.

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