- While the business portfolio is streamlined now, making choices will remain key to ensure the impact – the value – of our innovation efforts.
- As part of a product-cost improvement opportunity, we started outsourcing the production of the UniSee LCM component and closed our Taiwan factory.
Focus on performance
For several years, Barco has worked hard to improve its performance and shape the organization. We made choices to streamline our business portfolio and focused on (cost) efficiencies and operational excellence. That approach bore fruit: thanks to our efforts, we managed to install a true culture of performance and became a more resilient company. While in 2019 we were fit to focus on growth, the covid-19 crisis urged us to sharpen our focus on performance again.
- Accelerated value engineering initiatives across the group led to gross margin growth progression for particular product lines.
- All new hires (white collars) go through a ‘continuous improvement’ training course as part of their onboarding program (2020 Belgium, global rollout 2021).
- Continued investments in R&D and commercial teams in China to strengthen our commercial footprint there (mainly in Events, ProAv and Healthcare).
- Expansion of new partner program, reinforcing our commercial scope.
- Further rollout of new service offerings, e.g. break-fix scope and definition, dashboard and reporting processes, and improved interaction between divisions and commercial departments.
- By keeping our business open during the covid-19 lockdowns, we ensure business continuity and a strong market position once the impacted markets start to recover.