After the integration of Kirey, IKS, Insirio and System Evolution into a single major player, Kirey Group consolidates its turnover, focusing its attention on a wider offer and a more agile structure
Kirey Group is preparing to close 2017 with a 60 million turnover. Among Kirey Group's customers -company created in 2016 by the private equity fund Synergo SGR of Gianfilippo Cuneo - the main Italian banks and insurances are listed, contributing to 80% of the total turnover. "For 2018, we expect an increase in revenues in terms of EBITDA" - says Vittorio Lusvarghi, CEO of Kirey Group. "A lot will come from the insurance world. Where we support all the main management applications in the Life sector and where we propose various installations of our solution for pension funds, as well as IT and administrative services, in the field of documentation, data governance and BI». This growth was sustained by the good performance of the entire IT sector in Italy, which came out positively from the crisis,hence the Kirey group with just under half the turnover. "Twenty-five million came from the insurance sector and just as many from the banks. The rest is equally shared, five million each, between the oil & gas and public sectors".
ONE YEAR OF TRANSITION
Results obtained in a context of great renewal. "During 2017, we worked on integrating the various companies of the Group" - explains Lusvarghi. "Next year, the Italian ones will be merged into one company. We will combine the know how and transversal skills in a single commercial and delivery structure. At the same time, we have unified the financial, personnel management and IT side. For us, it is essential to streamline processes and management control "- explains Lusvarghi. The conclusion of the process is expected at the end of next year. But the change has already led the Group to consolidate its presence on the markets. "In the first year, we have worked to present our clients with the companies of the group, the new skills and the possibility of adopting more extensive and nearshore services, preserving the quality of the delivery that as individual companies, has always distinguished us. The results have rewarded us. Our customers can now count on a more complete solution and services offer".
INNOVATION FOR KIREY
Innovation is part of the Kirey Group genetic code. "We believe in applied innovation. Capable of combining technological skills and knowledge of the sectors where our main customers operate"- says Lusvarghi. " In our Innovation Lab we designed the application of connected insurance that analyzes driving styles, a sort of black box on smartphones that allows insurance companies to offer personalized rates, and the IoT application for the connected home, to monitor the home in case of water leaks, gas or identify unpleasant intrusions. In terms of research, we are investing in analytical applications on neural networks, integrated with our data quality product and alternative uses of blockchain, where we have just concluded the first PoC on Open Time Stamping. In partnership with Epson, we have developed the project for industrial and catastrophe risk protection, which exploits satellite data used for weather forecasts".
These are programs supported thanks to the positive performance of the Group's financial results. "The various PoCs under way will allow us to show concrete examples of the application of new technologies. The cash flow allows us to make substantial investments, which are worth three percent of our turnover "- says Lusvarghi, who does not hide optimistic growth prospects for the next year. "Kirey Group employs approximately 600 people, 100 of whom are internationally located. At the moment, we are looking for many new figures to be taken: young people we want to train in the areas of programming, testing, management of relational data bases and data protection. The acquisition phase is not yet completed and we plan to close several negotiations in progress soon in Italy and abroad".