Fabrity, a software house specializing in bespoke software development, product design, low-code solutions, increased its sales in 2021 by 15%.
For Fabrity, 2021 was another year when the company increased its sales, maintained the previous business results and added new clients to its portfolio, while still investing in the development projects and increasing organizational efficiency. In comparison with 2020, sales-generated earnings increased by 15%, while EBIT was at 13.2% and adjusted EBIDTA at 14.0%. The latter two indicators were slightly lower, when compared with 2021 results. This was due to the considerable investments in building up HR, sales and marketing competences.
Extending clients’ portfolio
In 2021, Fabrity was focusing on strengthening its relationships with the existing clients and ensuring the highest quality of the services provided. As a result, we added to our portfolio new clients, including a German pharmaceutical company, two biggest companies on the Polish market providing private healthcare services, a leading provider of medical diagnostics services, a leading manufacturer of industrial engines, two international insurance companies, a well-known cosmetics brand, and a transportation and logistics software provider.
Most importantly, the biggest contracts were signed at the end of the year, which creates a solid base for the strong earnings increase in 2022.
Fabrity also strengthened its existing client relationships, including a leading Polish bank, an international fuel company, the UE agency Frontex, a world leader in the electrotechnical devices, and several manufacturing companies form the DACH region.
The earnings from exporting services to the foreign markets and to the international organizations located in Poland exceeded 50% in 2021.
Mayor areas of investment
In 2021, Fabrity was investing considerably in the following areas:
Developing HR competences
Since Fabrity has been realizing many long-term and business-critical projects for corporate clients, it is crucial for us to have on board highly skilled engineers. Therefore, in 2021, we were heavily investing in building up our HR competences to be able to recruit and retain top tech talents.
In 2021, we implemented a new sales strategy focusing on three main service lines: software engineering, product design and low-code solutions. By implementing new tools and processes and integrating the efforts of sales and marketing departments, we want to effectively reach new clients and realize new project for the existing ones.
The transformation of K2 Digital Products
Following the acquisition of K2 Digital Products in August 2020, a company specializing in designing and building digital products, Fabrity needed to include in its service lines new types of services, enlarge technology stack, adjust the client segmentation and change marketing communication. Last but not least, we needed to speed up the process of acquiring new clients. All these efforts were accomplished successfully.
In 2021, Fabrity was focusing on low-code platforms that allow citizen developers to build business apps with no or minimal coding skills. We invested in teams specialized in building low-code solutions based on Microsoft Power Platform that is becoming increasingly popular among potential corporate clients.
Also, for many years we have been working closely with automation and robotic process automation providers Nintex and UiPath in building hyperautomation and RPA solutions for our clients.
Most importantly, Fabrity was investing in developing its own low-code solution—FastAPP—that proved to work well in the solutions for document management and domain systems integration. In 2021, on the FastAPP platform we built 20 solutions for 5 clients. In 2022, we plan to invest even more in developing our competences in the low-code area.
We believe that focusing on low-code will allow us to increase earnings despite the tech talent shortage on the market. Low-code platforms can be implemented on the client’s side allowing them to automate their day-to-day operations and processes. In this way, Fabrity strengthens its role as client’s key partner in the digital transformation journey.
Plans for the future
In 2022, Fabrity will focus on:
- growing the company by acquisitions both in Poland and on the European markets, where we are providing our services,
- investing further in the development of our own low-code platform FastAPP to increase earnings from selling licenses and services,
- developing HR competences in recruiting and retaining top tech talents,
- building up competences in sales and marketing,
- targeting DACH countries.
Fabrity’s Management Board believes that it is possible to increase earnings by 20-30% by harnessing the company’s potential and the investments from the previous year.