Lighting the way2008 Deloitte Technology Fast 500 EMEA Ranking and CEO Survey |
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This was a surprisingly good year amidst the global economic turmoil, for the Europe, Middle East, and Africa (EMEA) regions in terms of high-growth technology company performance. UK's Thunderhead. led the pack with 28,558 percent growth rate. Other companies in the top five are Netherlands-based, album creation software company Albumprinter, real-time location software firm Ubisense from the UK, renewable energy technology firm Morphic Technologies, and German, IT-consulting and software company Nextevolution.
The believers
The CEOs we survey in EMEA have rarely had a problem with confidence and this year is no exception. This year's numbers may not be as high as last year, but are impressive all the same. With the fallout of the global economic recession still unknown, the 58% of CEOs who said they were confident they would achieve the same level of growth in 2009 is indeed promising for the sector. Additionally, the average five-year revenue growth rates for this year's Technology Fast 500 EMEA companies came in at an impressive 1,297 percent. Positive attitudes could also be found in the answers CEOs gave to whether or not the global downturn was affecting their company roadmap. Thirty-seven point five percent of respondents said they have not yet felt a significant impact from the downturn in the economy and although 30 percent were reviewing their strategies, 24 percent don't see the need to change their strategy at all.
If indeed faced with the repercussions of a possible downturn, however, most CEOs would look to restructure their company (24 percent) or 18 percent would sign up newly available talent on the job market or look for acquisitions in developed markets.
A few good engineers
A great number of CEOs surveyed are looking to hire workers beyond their own borders. It's an ongoing issue that seems set to continue, with 42 percent of CEOs employing between 1 percent and 30 percent of workers offshore. The main functions being outsourced are in R&D, and technical jobs such as research and development or engineering, as well as commercial roles like marketing. The future is predicted to bring further off shoring as the majority of CEOs (44 percent) expect to be employing even more, between one and 45 percent, offshore workers over the next five years.
While this off shoring helps address the problem of skilled worker shortages, it creates other problems. Managing remote workers is named by 47 percent of CEOs to be one of their biggest challenges followed by dealing with language barriers and the management skills of these workers, which both claimed 102 percent.
Top five 2008
| Ranking | Company Name | Country | Industry Sector | %Revenue |
|---|---|---|---|---|
| 1 | Thunderhead Limited | United Kingdom | Software | 28558.39% |
| 2 | Albumprinter | Netherlands | Media/Entertainment | 21952.02% |
| 3 | Ubisense | United Kingdom | Software | 15323.53% |
| 4 | Morphic Technologies AB (publ). | Sweden | Biotech/Pharmaceutical/Medical Equipment | 10838.96% |
| 5 | Nextevolution AG | Germany | Software | 10206.51% |
Key findings of the survey
- Mergers and acquisition activity did increase to 4 percent from the 2 percent it was last year.
- Attracting and retaining qualified employees has grown in importance over last year increasing to 21 percent from 18 percent in 2007.
- While there are other operational challenges in managing growth, the biggest one continued to be finding, hiring and retaining qualified employees with 42 percent of respondent CEOs counting this as their biggest challenge
- A total of 64 percent noted they would be focussing more on their own region's market.
- Firms reported actions to lessen their environmental impact with waste reduction (21 percent) energy conservation (19 percent) and product and package recycling (12 percent) the most popular initiatives.
- 47 percent of respondent CEOs find Asia Pacific to represent the best opportunity for growth, while EMEA serves as the best opportunity for 29 percent of the firms.
About the survey
Deloitte Technology Fast 500 EMEA CEO Survey is based on feedback from almost 200 CEOs across the EMEA region. While the main purpose of the survey is to gain a better understanding of how the companies achieve their incredible growth, it also serves as a report on the various opportunities, ambitions, challenges and threats faced by technology leaders in the region.
For complete rankings and results, download the report.
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