ICT aims to make the world a little smarter every day. ICT has evolved from being a leading software integrator to become a total technology & service provider. ICT focuses on growth in its total suite of capabilities: from engineering design to the operation and maintenance of delivered systems. This enables ICT to offer a wide variety of one-off products and services specified by the customer, as well as in-house developed software as a service, all delivered securely to customers for many years. As part of its transformation into a total solutions provider, ICT revisited and reiterated its value creation to stakeholders and shareholders using the value creation model as proposed by the IIRC (International Integrated Reporting Council). The model depicted below provides insight into the relationships and capital (human, intellectual, technological, social & relationships and financial) we use in our business model to create value in line with our four strategic pillars, depicted in the heart of the model: linking people, technology & ideas, customer centric, sustainable innovation and partnerships & collaborations.
Linking people, technology & ideas
ICT’s success is highly dependent on the people working within the company. It is the people that make the difference in delivering value to our customers. The ability to attract and retain the right people is a key driver of growth. ICT strives to be an employer of choice by nourishing a culture of entrepreneurship. ICT challenges its people to perform to the very best of their ability and seize the opportunities the group offers. ICT’s core values are instrumental in this, as they embody ICT’s identity as an employer. Entrepreneurship, freedom to act, dedication to customers, expertise, innovation and, of course, business knowledge in combination with the awareness of technological challenges are all part of the ICT identity. ICT invests in training and development and encourages its professionals to continuously develop their talents and skills. Through its HR policy and strategy, ICT ensures that its employees are equipped with the knowledge & expertise required to remain the partner of choice for its customers.
ICT aims to help its customers get smarter every day in every product, process or application. To deliver on this promise, ICT needs to understand its customers deeply, and collaborate intensively with them at numerous levels. From an internal perspective, ICT offers an agile and flexible operating environment in which its professionals can continuously engage in change, development and the implementation of new business ideas, solutions and structures. Due to its understanding of its clients’ needs, ICT can translate new and innovative technologies into relevant business solutions, and introduce these solutions in the heart of its customers’ operations in a safe and secure manner.
Within its focus areas, ICT services a wide range of industries, with multidisciplinary teams leveraging the knowledge and expertise of individual industries. In doing so, ICT combines the strength of focusing on specific areas with the learning curve in multiple industries. This is also enabling ICT to gain the scale it needs to fuel its R&D activities and stay at the forefront of technological developments. The geographical mix enables ICT to combine creativity in design in its core market, the Netherlands, with development capabilities in its nearshoring location in Bulgaria. As a result, ICT can offer repeatable and scalable solutions, addressing the growing demand of its customers for affordable and proven solutions.
Partnerships & collaborations
Given the need to adapt and respond quickly to the rapidly changing environment, it is no longer possible to work solely on a standalone basis; partnering is essential in such an environment. ICT collaborates intensively with customers and partners, both reputable globally operating corporations and lean start-up companies embracing leading edge technologies. ICT’s strong partnerships with a large number of universities and colleges also help ensure the high level of knowledge within the company and play a key role on this front.
How do we enable our strategy?
ICT has identified four drivers that enable the four strategic pillars described above. These drivers are:
Buy & Build
ICT pursues growth both organically and through acquisitions. ICT has a buy and build strategy, aimed at expanding its current distinctive niche position. Acquisitions are an integral part of increasing scale or enhancing knowledge in distinctive niche areas. ICT’s growth strategy drives its mission to become the European Technology Solutions and Services provider (TSP) in defined markets, characterised by a passion for its customers. Increasing the offering of replicable and scalable solutions in which ICT takes full integral project responsibility drives organic growth. ICT’s ability to recruit and retain the right people is critical for organic growth.
ICT has a well-defined identity and corporate values. Entrepreneurship and freedom to act are at the heart of ICT’s identity. ICT’s goal is to create an environment in which people are challenged to continuously develop their strengths and in which they feel safe enough to make mistakes, as this is one of the most powerful learning mechanisms. ICT encourages its people to look beyond boundaries, to find new solutions and think outside the box. Also from a culture perspective, ICT prioritises the integration of acquired companies to ensure that new colleagues feel part of ICT and act in line with its core values. Furthermore, one of the main criteria in ICT’s acquisition strategy is that there has to be a cultural fit and mutual respect for knowledge, skills and working methods.
ICT has a clear focus on what we try to accomplish every day: ‘making the world a bit smarter’. Having a flexible and agile organisation is essential to engage, develop and implement new business ideas and solutions. Our lean structure, with multidisciplinary client and industryfocused teams, enables effective and swift execution. We have uniform systems and processes in place. Even while working independently, our teams share the same tools, processes, working methods and KPIs. This helps us to implement new business ideas and solutions in a predictably efficient and effective manner.
ICT’s governance framework includes a code of conduct, a clear set of business principles and clear corporate governance practices. Management creates and maintains a culture of integrity and ethical behaviour by setting the right tone at the top and leading by example. The framework of business ethics is clearly communicated and procedures are in place to safeguard adherence to and compliance with principles and policies. ICT makes every effort to create a positive, transparent working environment that is free from discrimination, harassment and/or intimidation and in which all employees have equal access to information and opportunities. ICT is committed to creating a diverse culture with open and honest communication.
This is an interactive electronic version of the Annual Report 2017 of ICT Group N.V. and also contains certain information in summarized form.
The contents of this version are qualified in their entirety by reference to the printed version of the full Annual Report 2017 of ICT Group N.V.
This printed version is available as a PDF file on this website.
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