Looking back at 2021 and what the year ahead has in store at Precise

As I look back over the past year, I’m thankful that we have such a strong team at Precise. At every level, in every office, our people are what make the difference. Their engagement as a team and their dedication to serving our customers means that despite the challenges faced this year, we’re in a strong position to meet the opportunities in 2022.

Our business has proved itself again to be robust and I’m proud that we have been able to achieve the goals we set out at the beginning of the year, despite challenges like the continuing pandemic and a global component shortage. Our Algo business continues to perform strongly, valued by key customers such as Egistech and Qualcomm where biometrics naturally provide easy enrolment, convenience and enhanced security for the mobile industry. As Annika Freij, our Chief Financial Officer at Precise said to me recently, “As our core business with a strong legacy and great competence, the Algo business continues to play a key part and ensures we have the right funding to pursue our Digital Identity business ambitions”. This is really important in making sure our business continues to have a strong and relevant future.

The Digital Identity business continues to grow and will be an important focus in 2022. Precise YOUNiQ is enjoying excellent success for access management and I’m very excited by what we’ve achieved with partners such Algeco and EastCoast. The team at Algeco currently manages 1100 rooms in its module accommodation facilities with YOUNiQ and that number is set to increase even more next year. We’re additionally piloting a sustainable solution with Algeco through YOUNiQ which will enable administrators to save energy and reduce waste. Powered by our solution, the system will switch off lights and heating in unoccupied rooms but then automatically switch them back on again once YOUNiQ identifies a user and allows them access to the facility or room. It’s yet another exciting development for our team to work on and a big benefit for our customers. As Annika also said to me, “It’s impressive how fast we have built up our structure and sales for Digital Identity and taken the next steps for YOUNiQ. We’re now firmly into the product’s ‘selling phase’ and it’s been great to participate in fairs this year to showcase YOUNiQ to potential customers so they can see just how good the solution is and the opportunities it offers them to leap ahead of their competition. With the acquisition of EastCoast we will have an even stronger offering for 2022.”

Another area that is looking exciting for next year is around biometrics in cars where there is a high degree of interest for personalisation potential. Biometrics are perfectly placed to meet this interest, particularly for actions such as in-car payments.

So, there are lots of opportunities to embrace next year! For now however, I am looking forward to enjoying the festive season with my family. I hope that you will all enjoy a safe and happy holiday and a prosperous New Year.

Stefan K Persson – CEO