Revenue increase of 15 percent: BSI on a path of growth
Acquisition of Snapview of Munich, Germany in 2021 – the foundation for more growth has been set.
Baden, March 15, 2022 – With its BSI Customer Suite, the Swiss software company BSI has an integrated platform for the digital transformation of customer relationships in its portfolio. In the last fiscal year, the company was once again on a clear growth path with a revenue increase of 15 percent to CHF 78 million (compared with CHF 68 million in the prior year). The number of employees rose as well: At the end of 2021, the company had 404 employees (compared with 344 in the prior year) in Switzerland and at various offices in Germany. One reason for the growth figures was the acquisition of Snapview, a Munich company that provides a legally secure and sales closing video conferencing solution.
Snapview is considered a pioneer in video conferencing and has a financial industry focus, just like BSI. About two-thirds of BSI’s revenue was generated in the banking and insurance sectors. As Markus Brunold, CEO of BSI, put it, “While part of the revenue growth is definitely due to the acquisition, the largest part, at about 12%, is the result of organic growth – it was yet another substantial and impressive performance by the entire BSI team.”
BSI’s Customer Suite is a holistic, digital customer relationship management solution along the value chain geared toward the insurance, banking and retail industries. Soon, the company will roll out a greatly expanded new release of the Customer Suite. In addition to comprehensive customer relationship management, marketing automation and Artificial Intelligence, this new release contains additional products such as the BSI Customer Data Platform. Additionally, it facilitates the easy linking of system landscapes and comes with powerful analytics. The Snapview technology option for personalized video conferencing also broadens the established BSI solutions. It is available as a fully integrated platform option and will continue to be sold as a stand-alone product. This new option can generate new service opportunities and entry points for customer loyalty for BSI’s customers, who will benefit from an AI-powered, seamlessly integrated and automated customer process – from customer acquisition and the offer process all the way to contract execution.
The BSI solution sales and implementation teams will receive even more support from partners in the future. As Mr. Brunold explained, “The partner network is an important element of our growth strategy. We are already working closely with eight partners with an international footprint, including consulting and software companies like Adesso, BearingPoint and msg and are developing additional partnerships to expand the BSI ecosystem beyond that.”
As for products, BSI plans to differentiate itself from its competitors with industry clouds. To begin with, and with a nod to the business-out-of-the-box trend, BSI offers industry solutions in this area that all include the standard industry regulations. Secondly, the software company plans to set itself apart using interfaces within industry-relevant ecosystems. “We make it possible for insurers to easily sell building loan contracts or integrate FinTech into their customer journeys,” explained Mr. Brunold. In addition, he considers BSI’s independence of cloud providers like Amazon or Google a unique position. The company pursues a multi-cloud strategy with robust and quickly scalable container solutions. “We can move entire systems in seconds,” Mr. Brunold pointed out.
To achieve similar growth in 2022 as in 2021, BSI is looking for technical specialists in almost all areas. “Since our company’s organizational structure is a holacracy that by its very nature promotes independent working, we are always looking for talented people with an entrepreneurial spirit. Needless to say, this is a tall order for us in this tight labor market,” said Mr. Brunold. According to him, candidate attributes that are particularly important are entrepreneurial and interdisciplinary thinking and doing. “I am very grateful to our employees and customers for the continued excellent collaboration during this second and exhausting year of the Pandemic.”
The fiscal year 2021 was the first year that Capvis AG, the Swiss private equity firm, was involved for the entire year since the company had come aboard with BSI in August 2020. In CEO Brunold’s opinion, the new shareholder has already made a very positive contribution: “The expansive network and expertise our partners at Capvis bring to the table have clearly generated economic successes. And we will continue with those in 2022.”
BSI at a glance
With its BSI Customer Suite, the Swiss software company BSI provides a holistic, AI-supported platform for the digitization of customer relationships. For Banking, Insurance, Retail, and Energy & Utilities, the BSI Customer Suite provides everything needed to facilitate an exceptional customer experience. This also includes BSI’s CRM solution with a generative 360° customer view and an AI companion as well as the company’s many years of industry expertise. Around 230 corporate clients use BSI’s software to reach more than 150 million end customers across Europe. Since its founding in Switzerland in 1996, BSI has established itself as a market leader in its focus industries in the DACH region. Its clients include renowned companies such as ADAC, Raiffeisen Bankengruppe, Signal Iduna, and PostFinance. Software and people together – that's what BSI stands for.