The Simplifai Way – road ahead for 2023 and achievements of the past year

2022 was a fantastic year for Simplifai in multiple arenas as a growing organization and a market leader in the world of Artificial Intelligence!

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February 2, 2023

Every year, we hold a grand Kickoff event that not only acts as a collective reflection of the company’s achievements of the year before but also sets the stage for future goals this year. And we kickstart 2023 in the same fashion with an in-depth dive into key highlights from 2022 as well as the road ahead for 2023.

Being a global player in the AI market

Having recently completed five years as a leading provider of AI-powered business automation solutions, we are rapidly expanding in multiple regions and have entered new ones in this tenure. Simplifai indeed began operations in Oslo but now apart from having a strong foundation in Norway, we have a strategic presence in Asia Pacific, particularly India and Southeast Asia. Besides Scandinavia, we have got also been established in other European regions such as the Netherlands, Denmark, and Germany.

2022 was the year when we solidified our global presence in terms of outreach and a strong belief that our solutions are industry agnostic, meaning they can be used in any global industry, regardless of the work processes involved.

When Simplifai had begun operations back in 2017, we barely started out with a handful of employees. But especially in 2022, we increased our workforce extensively across diverse teams – today we have employees from at least ten nationalities and five countries, thus making our work culture highly diverse and inclusive.

Key Highlights of 2022

Secured a strong position in BFSI as a leading player in the market

We began 2022 with the goal of achieving a robust position in the BFSI sector by solidifying ourselves as a leading player in the market. We are proud to have conquered the Hill of BFSI, which reflects the successful implementation of our products and services, and also of customer retention through Upsells.

We not only captured the giants of BFSI such as Van Ameyde, SR-Bank, and Landkreditt upselling across Europe, but also won key customer deals in the form of Bajaj Allianz, Kotak Mahindra Bank, Reliance General Insurance, and Pine Labs in the APAC region.

Extensive R&D, professional service excellence, and data privacy compliance

On the technical front, we are proud to introduce brilliant new features that take our solutions to the next level such as transfer learning, page-wise classification, new dashboards, and more.

We witnessed great results from professional services that delivered our products and solutions in the most refined manner. This indicates the rapid pace at which Simplifai has positioned itself in the industry with respect to commercial acquisitions.

At Simplifai, receiving a Customer Satisfaction or CSAT score of 4.28 out of 5 reflects massively on the acceptance and successful implementation of our solutions that lead to happy customers.

We refined our solution even more and made our products and services compliant with the highest form of data privacy and IT security regulations in the form of the General Data Protection Regulation (GDPR) and the International Organization for Standardization (ISO). This gave us a huge competitive advantage in the market and helped us receive validation from our clients and government authorities in Norway.

We became a standalone company again!

With a buyback from Elop early in 2022, we are back to being a standalone entity again. Fuelled with a push from strong investor relations, we have created a niche presence in the AI industry to win a maturing market.

Starting out this year, Simplifai has hugely benefitted from this strategic buyback and aims to penetrate other markets in the years to come, while keeping BFSI and the Public Sector as the core, target industries.

Increased focus to follow our strategy in 2023

In our organization, we follow the Simplifai Way – a particular set of beliefs and principles that have helped us achieve the growth that is seen today. The Simplifai Way is about not only working smartly and efficiently but also with clarity. Asking “The Why ” question is important for us while prioritizing what is must-to-have, over what is good-to-have.

As an overall closing note, we are delighted to have matured our technology in a short time of less than half a decade, which is not only here to stay but also carries the gigantic potential to bring digital transformation in multiple industries.

As an organisation, we always continuously strive to improve, evaluate, learn, and implement the learnings in our daily operations. And we are hopeful and certain of the fact that as a market leader in AI, we shall maintain values such as dedication, desire to win, and high ambitions in the workforce for a bigger and better 2023.