The market for data-driven video technology software is changing. Our business strategy has been updated to bring us to the forefront of these changes. Many strategic initiatives have already been executed.
Milestone updated its strategy in 2022 to reflect the growth target of more than doubling revenue within the next five years. The world is changing and today we see completely new ways society can benefit from our technology. Our strategy sets a clear direction and prepares us in the best possible way to transform our industry by setting the standard for data-driven video technology software in and beyond security.
Why, How and What
Central to our strategy is Why we exist. We envision a future in which video technology can be used to explain the past, understand the present, and predict the future, with the intent of creating a positive impact for businesses and society. That is what we mean when we say we want to Make the World See.
Our How is our approach – People First and Responsibility. This is our mindset and competitive advantage. It’s what makes Milestone unique.
People First is a clear signal to our stakeholders that people are at the core of everything we do. We build a culture focused on engagement and well-being when we develop, market, and sell our products and when we collaborate with partners.
Responsibility is our license to operate. It’s the basis for developing and integrating technology and it’s a driver for choosing partners and business focus. We want to be a beacon for responsible technology in our industry.
Our What is our four strategic objectives. For each of these we have defined strategic choices for what we will focus on, and we have defined clear strategic initiatives to accelerate these choices.
At Milestone, culture is a differentiator. Our global position, technology, and brand is not enough to make us an employer of choice and an attractive place to work in a very competitive market for top talent. We truly believe our employees are our most important asset, and we continuously improve our working conditions, empower employees and teams, and create flexible, digital and hybrid working environments.
Video technology software is the core of our product offering and will remain so. In the years ahead we will develop our open video technology platform in brand new ways. We constantly ensure that our technology is geared for growth, and we are positioning ourselves in cloud, on premise, and hybrid solutions with many new offerings.
We will focus on business in traditional markets that demand solutions for safety and security. At the same time, we believe in pursuing the business opportunities that lie in areas such as healthcare and hospitality. Together with our partners, we will develop specialized solutions that address unique customer needs to empower people, businesses and societies.
Our partners play a vital role in our business model and strategy. We have already launched a new partner program with incentives for our partners. In the years ahead, we will continue to strengthen our relationships with partners to increase our common marketing and sales efforts, to create specialized solutions for key customer industries, and to explore together what can be achieved by integrating video technology software into new areas.
We have revisited our customer focus to fit a world using video technology for different purposes: to secure a business and to optimize a business. To be able to match the demand for customized solutions, we are adapting our customer programs and aligning our customer journeys.
We want to maintain our leadership position in EMEA and APAC, and by strengthening our presence in the Americas we expect to grow significantly in this market. We see great opportunities in developing specialized offerings and we will accelerate marketing and sales to pursue business outcomes that benefit people, businesses, and societies.