The coronavirus crisis has firmly shaken the foundations of our economies. Below, we’ve gathered some questions and answers regarding the coronavirus situation from our perspective. In light of the information we currently have, the corona crisis will not impact our long-term goals. We are, however, constantly monitoring the situation. The health and well-being of our customers, partners and employees are of utmost importance to us, and we take any measures to prevent the spread of the disease very seriously.
We offer a cloud-based solution for customer services centres and sales. As a modern cloud solution, our software is not tied to any premises but enables remote work from home for example. As the crisis has intensified, we’ve placed even more focus on features that support remote use. So far, the impacts of the corona crisis on our business have been two-fold. On one hand, our sales have remained steady. On the other hand, we are not fully safe from macroeconomic phenomena and the significant shrinking of entire industries.
Our business is built on long-term, recurring revenue contracts. This has guaranteed a good, steady flow of revenue.
We are constantly analysing information about the market and the use of our software. This information is used to update our forecasts and plans. Even though the future is difficult to predict in such an exceptional situation, we have been able to confidently uphold our previous instructions.
As a result of the IPO and sales of LeadVenture, we have a solid amount of cash at hand. Our core business is also profitable. As a result, we believe that our financial position is strong, especially considering the general situation.
Our current predictions are based on the situation slowly normalizing. We are expecting significant restrictions to be lifted around Europe during the summer holiday season and the economy to begin recovering towards normal. Should the crisis lengthen, risk levels will increase, and we will have to reassess the situation. The largest risk that the corona crisis places on our business is the weakening of the general economic situation around Europe, which would hurt our customers’ business in the long term.
As a responsible employer, we encourage all our employees to work remotely and to isolate themselves according to the instructions of their respective local authorities. In addition, each key staff member has been assigned two replacements. Our risk is also decreased by the relatively low average age of our employees, which is around 30 years. We believe that our current preparations will safeguard our operational capabilities even if the crisis worsens.
As a company, we have prepared for the corona situation by securing our 24/7 operations and continuity, as our customers include companies and public organisations vital to the functioning of society. We have conformed to the situation in each of our country organisations and are working mainly remotely at the moment. The health and well-being of our customers, partners and employees are of utmost importance to us, and we take any measures to prevent the spread of the disease very seriously. The tools at our disposal enable flexible and reliable remote work. For example, customer meetings are carried out primarily virtually.
As the crises progresses, it’s also important to try to keep the minds and bodies of our employees active. We have paid special attention to activities that boost and support our culture, such as daily planking and other exercise challenges and common remote coffee breaks. To improve the flow of information, our weekly leadership team meetings are now open to our entire staff.