Page 6 - Nemko - Annual performance - 2023
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leader. Our five-year strategy, which concluded poor communications and ever-broadening
in 2023, saw the foundation double its size from portfolios. By staying focused on our core
the previous strategy period through organic strengths, Nemko continues to attract and
growth, strategic acquisitions and digital retain top-quality subject matter experts in the
improvements to systems and operations. TICC field.
At the close of our previous 5-year growth
strategy, Nemko had maintained high Digital transformation
customer and employee satisfaction levels. The
2024-2027 strategy, Stronger focus, higher As digitization becomes imperative, the TICC
ambitions, is equally ambitious, but designed to industry, somewhat behind in its digital maturity,
bolster core growth, profitability, and operational has the decade in front to adapt to the new
efficiency in the face of global changes and digital world. Nemko has embraced this
uncertainty. This strategy, built on the pillars challenge, accelerated its digital operations
of customer focus, sustainable business and exemplified how comprehensive digital
practices, innovation, and prioritization, aims transformation can propel the industry
to ensure Nemko’s adaptability and continued forward. We keep a vigilant watch on
success. As we embark on our next efficiency- technological trends, from cybersecurity and
driven strategy, Nemko will continue to lead in artificial intelligence, assessing their influence
a competitive market for its service excellence on our clientele and service portfolio. As
and as a desirable employer, focusing on foundational offerings like safety and EMC
employee retention to maintain its status as testing, management system certification, and
a top choice in the global marketplace. This international approvals maintain steady growth,
strategic direction leverages Nemko’s strong emerging technologies are prompting a call for
market presence and aligns with its enduring enhancement and improved structure within
90-year legacy, setting a course for a promising the regulatory sector. Artificial intelligence and
future. cybersecurity stand at the forefront of service
growth and internal optimization, pivotal both
Industry trends and market structure for in-house applications and in keeping pace
with progressive regulatory changes. Nemko
The year 2023 witnesses several shifts in maintains an aggressive approach to the use of
the Testing, Inspection, Certification, and technology and develops new service offerings
Compliance (TICC) industry. These shifts have to facilitate safe use and privacy.
set the stage for organizations like Nemko While core services remain stable, innovative
Group AS to lead the transformation with technology drives the need for improvements
strategic agility and foresight. and structure in regulations, and Nemko is
resolute in maintaining a competitive edge.
The trend towards massive growth through
acquisitions, complicated by high market Both for internal use and ongoing regulatory
fragmentation, presents a dual challenge. developments, AI and cyber security remain
Nemko has strategically positioned itself important domains for service expansion and
to leverage consolidation benefits while internal efficiency.
maintaining the agility that comes from Regulatory shifts, especially the expansion of
operating within a smaller footprint. eco-design requirements, have heightened the
Competitors often struggle with efficiency focus on sustainability. In response, Nemko
and customer loyalty due to massive size, introduced the Product Sustainability Corner, a
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