- Finetuning simplified organization by embedding marketing in business units
- Business unit teams are now fully integrated with sales, marketing, product development and R&D focused, dedicated to end-markets and in close contact with the customer
- Cinionic’s activities fully acquired by Barco and integrated into the Cinema business unit, leveraging efficiencies
- Best performing high-tech company in the Randstad Employer Brand Research
Capture profitable and efficient growth
Barco has been a global technology leader for decades. We are active in markets with solid foundations, where we offer mission-critical solutions. In order to optimally seize all the market opportunities ahead and further strengthen our leading role in our markets, we are exploiting our strengths to the fullest.
To achieve that aim, we set several short- and mid-term strategic objectives:
- further finetune our organization into 6 business units (BUs) in order to step up accountability, entrepreneurship, and customer intimacy;
- increase operational effectiveness through digital transformation and standardization;
- grasp our market potential by broadening our geographic coverage with a focus on China and developing adjacent markets.
Overall, we score between 2 and 3 out of 4 on the focus areas that support the ‘Capture profitable and efficient growth’ lever. In 2023, we further simplified our organization to boost effectiveness and took key steps in our digital transformation. While the markets in China were soft, we strengthened our manufacturing footprint, preparing our two new production plants there to deliver as soon as the recovery takes off. When it comes to ‘developing new market segments’, several initiatives have been taken and new products launched, with plenty of potential remaining.
- One platform strategy with further integration of ERP and major IT applications
- Automation and integration of the HR and IT services and communication via the Barco Assist and BarcoHub platforms
- Expansion of customer relationship management system with enhanced customer and partner portals
- Ramp-up of the Healthcare production plant in Suzhou; transfer of products from European factories nearly completed
- Construction of the new Entertainment plant in Wuxi on track, with focus on further automation in manufacturing and logistics
- Software enablement of Immersive Experience via launch of new Pulse Mobile App and extended features in the Insights Management Suite
- Steady expansion in the simulation markets, including new product introductions with F-400 range
- AI-powered diagnostic displays with DL Precise in the Intuitive Workflow Tools
- G-50 set to revolutionize the themed entertainment markets