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's activity report 2022

All amounts are in thousands of euros, unless otherwise indicated

Viseven Europe OÜ (hereinafter Viseven Group or Group or Viseven) is a global marketing technology company with more than 13 years of experience, providing its services to the pharmaceutical and bioscience sector. The Group's solutions, products and services are actively used by the world's 50 leading pharmaceutical and bioscience companies in more than 50 countries. Viseven is competent in all aspects, from modular content to customer journey management, to adapt technology to strategic goals.

Viseven understands the challenges facing the pharmaceutical sector and knows how to seamlessly integrate people, processes and tools to engage the new generation of customers, choose the right technology to manage all brand and market communications across different channels, and significantly increase in-house competence.

Viseven's main product is the powerful content experience platform eWizard, which allows customers to create a product once and publish it everywhere. It is a SaaS platform that was developed to meet the business needs of pharmaceutical and bioscience companies. eWizard is a smart solution by design to overcome the challenges facing today's drug marketing. It is a universal tool for content creators at any level. The Group continued to actively develop the platform last year, adding new features and launching new versions. The Group capitalized the development stage costs of eWizard expansion projects in accordance with the relevant accounting principles. The Group plans to continue product development initiatives in future periods to maintain its competitiveness, sign contracts with new customers and expand its market share.

In 2022, the Group also focused on its product and service portfolio to cover the entire digital marketing services cycle, including a focus on Enterprise Solutions, data analysis, Omnichannel communication and hyper-personalization. AI technologies are taking a central place in the sector and the Group continues to actively implement the latest technological trends for its customers.

Viseven's core competency groups cover all directions of digital marketing for pharmaceutical and bioscience companies:  Data management and analysis (centralized data management, reporting, content attribution, customer profiling)  Corporate content management and distribution (content strategy, modular and personalized content management,

MLR)  Marketing operating model (operating models, workflows)  Channel-independent (Omni)Channel marketing and customer experience (customer experience design, customer lifecycle management, change management)

Viseven's service portfolio covers the entire digital marketing cycle to adapt to customer demands at any digital maturity level:  Digital Content Factory (DCF) – accelerating content production, customer success services, design and creative services  Products – eWizard CaaS (Content-as-a-Service), CRM/CLM solutions  Enterprise client projects - sales/AEM projects, mobile development projects, integration projects  Consultation - digital transformation, smart content, Omnichannel, training, medical sector content In 2022, Viseven Group focused on developing thought leadership and accelerating the digital transformation in the pharmaceutical and bioscience sector. The Group launched several major projects to help customers implement new solutions across different regions and brands.

Based on the participation invitations the Group received in 2022, the sector is ready for a digital marketing 'all-in-one' solution. More and more customers are looking for turnkey solutions that include 'Digital Content Factory + Omnichannel marketing + public relations + content platforms'. This shows that

Viseven is moving in the right direction, providing customers exactly what they want. Viseven constantly emphasizes that communication is customer-oriented. Providing solutions to customers that help them quickly and efficiently cope with challenges is the foundation of the Group's success.

All amounts are in thousands of euros, unless otherwise indicated

Viseven is creating a brand that keeps its customers at the center of communication. Viseven's thought leadership has grown by 60% and the media fully supports it, and the company has expanded its knowledge and provided customers with essential information. From modular content webinars with partners such as TCS, Campana & Schott, Bayer and Roche, to appearances at the industry's largest events such as Collision, Web Summit, Reuters Pharma, Next

Pharma Summit and Digital Pharma East – Viseven proves that it is one of the sector's main thought leaders.

The Group has set key strategic goals for the next year. One of these priorities involves diversifying development centers through the continuous development of independent top centers in Argentina and India. The Group's goal is to simultaneously expand its sales activities in North and South

America, Asia and the Pacific region, and Eastern Europe, which requires significant investments in sales functions in these regions. The Group is committed to introducing several new services and products to diversify its offerings. Another important focus is building strong and lasting relationships with clients acquired at the end of 2022, which should result in a decrease in sales concentration in the following reporting years. These strategic initiatives should accelerate growth, increase market share and increase customer satisfaction.

As of December 31, 2022, the Group consists of 6 companies in different countries: Estonia, Cyprus, USA, India

Poland (established in July 2022), Ukraine and Russia (liquidated in October 2022). The Group's companies are located in sales markets where global customers operate and/or where global customers have regional subsidiaries. A detailed list of the Group's companies is provided in Note 22 to this consolidated financial statements annual report.

In July 2022, Viseven Group registered a new subsidiary in Poland (Viseven Poland SP. Z.O.O.). The new subsidiary produces digital content that the Group's sales and marketing centers sell to end customers in Europe,

North and South America, Asia and the Pacific region.

Dividend distribution to the Group's shareholders is recognized in the financial statements as a liability in the period when the shareholders confirm the dividends. The Group paid out dividends in 2022 in the amount of 600 thousand euros, of which 100 thousand euros remained unpaid to shareholders and are recognized in the statement of financial position as of December 31, 2022. The Group did not pay dividends in 2021, but invested the accumulated undistributed profit in business development activities – expanding global presence, developing new products and services, improving eWizard functionality, developing relationships with new customers, etc.

The Group's financial year was stable and despite the overall difficult situation due to Russia's military invasion of Ukraine, operations were able to continue year-round. The Russian military invasion

Ukraine began on February 24, 2022, marking the start of a full-scale war throughout Ukraine. The Group's main priorities are the health and safety of its employees and subcontractors and the smooth operation of all projects. The Group has taken all necessary measures to continue normal operations.

Further information is provided in Note 4 to this consolidated financial statements annual report. The Group's growth continued in 2022, relationships with existing and new customers were strengthened, and its financial results were improved.

The objectives and principles of financial risk management are described in the notes to the financial statements.

The main performance indicators are presented in the table below: 2022 2021

Sales revenue change, % 36% 23%

Net profit margin, % 3% 17%

Short-term debt coverage ratio 2.7 2.9

ROA, % 5% 24%

ROE, % 8% 36%

Notes to the table

Sales revenue: (current reporting year sales revenue - previous reporting year sales revenue) / previous reporting year sales revenue * 100

Net profit margin: Profit / sales revenue * 100

Short-term debt coverage ratio: current assets / short-term liabilities

ROA: Profit / total assets * 100

ROE: Profit / total equity * 100

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