Updated strategy supports growth 

Oscar’s most important themes of the year revolved around strategic efforts, reorganizing operations and fixing up processes. The software company, which gained a new CEO in the spring, is now operating at an excellent pace. In terms of technology, Oscar took substantial strides toward becoming an SaaS provider according to its plans. Even so, the period was financially challenging.

The revitalization of the software sector’s labor market after the coronavirus pandemic caused some changes in personnel. The departure of some experienced professionals had a negative impact on the company’s result, even though the company was successful in recruiting new experts. The changes in personnel had an inevitable impact on Oscar’s bottom line, which fell short of the target. The uncertain global situation and the war in Ukraine were also mirrored by customer activities, and more thought was put into new investments. On the other hand, the possible return of some industrial operators to Finland will provide new growth opportunities for the company.

Praise for the strategic efforts

Oscar’s updated strategy has been well received by the personnel. An even more transparent organizational model, which defines responsibilities very clearly, has also been drawn up to support it. The sales processes were fixed up during the year, and attention has been paid to sales management to ensure a sufficiently broad clientele. The efforts to improve processes on many fronts will also boost the company’s profitability.

In addition to active board work, Panostaja’s support has been evident in the updates to Oscar’s financial reporting, for example. The sparring support for HR management has also been very helpful. Panostaja’s strategy emphasizes responsibility, which shows in Oscar’s operations. Software solutions are being developed for automating processes and eliminating wastage, which results in decreased environmental impacts. For a software company, it is also important to consider responsibility with regard to personnel, which is why plenty of attention is paid to the capacity of employees, for example.

Lofty goals for 2023

Oscar has lofty goals for the 2023 financial period, which are supported by the updated strategy and organization model. The company is well-positioned, as it currently has the best understanding on the market of the needs of industrial operators. The development of SaaS expertise provides a lot of new opportunities. The outlook is extremely positive, provided that there are no substantial changes in the operating environment.