2 april 2018
MAYKOR’s Revenue Increased by 8%
MAYKOR, a leading Russian provider of IT and business process outsourcing services, announces its 2017 results. The company posted revenue exceeding RUB 11 billion, an 8% increase over the previous year. For 2017, focus was on the development of innovative outsourcing services for key customers as well as on optimization of internal processes and the development of the company’s IT system.

As in previous years, the highest contribution came from MAYKOR’s key business area - services for retail. This segment brought in 53% of MAYKOR’s revenue (RUB 5.8 billion). The company's retail customersare Svyaznoy, X5 Retail Group, Hoff, Sportmaster, Auchan, Dixy and others. Companies continue to favor integrated infrastructure support services, both IT and vertical-specific. In 2017, a new federal law required retailers to migrate to a new type of cash register that allowed online submission of cash receipt to the Federal Tax Service of Russia. MAYKOR was actively involved in this cash register modernization or replacement projects for federal as well regional retailers.

The greatest increase came from services for the oil and gas industry – MAYKOR’s revenue growth in this segment is 170%. Significant positive movement is showed due to several new large outsourcing contracts including Lukoil, Rosneft, Transeft.

Services for the telecommunications industry also saw a positive movement with 18.7% growth. Essentially, this was the result of account growth within existing customers such as Rostelecom, the Big Three (MTS, Beeline and Megafon), TELE2 and RTC.

The company also experienced an uptick in the financial sector. MAYKOR’s key customers in this industry include the largest Russian banks – Sberbank, BinBank, Alfa-Bank, Agricultural Bank and others. The revenue of MAYKOR’s subsidiary MAYKOR-BTE, which specializes in servicing banking equipment, doubled compared to the previous year. A year earlier the company had worked on the development of facility management projects which resulted in new contracts and an increase in service volume.

Application support outsourcing services, managed by MAYKOR’s subsidiary, MAYKOR-GMCS, shows stable growth. Aside from traditional services related to implementation of ERP and CRM systems, for the second year in a row there is revenue increase for BI systems integration, mobile and custom software development services. Over the past year, MAYKOR-GMCS also expanded its own solutions portfolio under the brand “VerEks Platform”. Digital transformation continues to fuel demand for predictive analytics, machine learning, modeling and optimization systems. For example, in the production industry there is strong interest for intelligent asset management, capacity utilization, forecast demand and supply chain optimization solutions. Key customers in the industry are SUEK, MMK, Ammonium, Tikhvin Freight Car Building Plant and ABI Product. Similar solutions also are in demand in other industries including retail, telecom, energy, and oil and gas.

Managed Services have become increasingly popular among MAYKOR’s customers. In particular, last year the company grew its portfolio with new contracts for Managing Print Services (MPS).

"For MAYKOR, 2017 was a year of steady growth - both in terms of quantity and quality. Our focus was on optimization of all MAYKOR business processes, that allowed us to ensure cost efficiencies and improve the quality of our services. In general, with a stable position in the Russian outsourcing market, we at MAYKOR strive to implement innovative approaches in our industry, because in our digital age that’s what helps us achieve the desired added value for our customers and partners," stated Sergey Sulgin, MAYKOR’s President.

In 2017, as part of the corporate transformation program, MAYKOR carried out a number of internal changes: the contact center was modernized and artificial intelligence technologies were introduced into the customers Service Desk System. Through the development of MAYKOR’s own automated work management system, impactful results were achieved in the form of a full-featured WFM (Workforce Management System) solution. All these initiatives allowed the company to maintain a high level of service throughout Russia.

The number of employees at the end of 2017 was over 6,200 people, and with this substantial staff base the focus was to launch comprehensive retention and motivation programs to increase the company's attractiveness as an employer. MAYKOR's leadership in the market is also recognized by both international and Russian experts in the IT outsourcing industry, including IAOP, IDC and others.
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