{"segments": [{"speakerId": "S1", "sentences": [{"start": 1, "end": 7, "text": "Thank you and welcome from my part as well to Lemonsoft Oyj 2024 results presentation.
"}, {"start": 7, "end": 12, "text": "My name is Alpo Luostarinen and I'm the CEO of Lemonsoft Oyj.
"}, {"start": 12, "end": 25, "text": "I jumped into the CEO position on September 24th, and before that, I spent a bit more than three years working on M&A and strategic development at Lemonsoft Oyj."}, {"start": 27, "end": 32, "text": "Um, we've had quite an eventful year in 2024."}, {"start": 32, "end": 38, "text": "Uh, our revenue grew to €28.9 million."}, {"start": 38, "end": 43, "text": "Um, and our net sales growth was 9.7%."}, {"start": 43, "end": 46, "text": "Adjusted EBIT was 22.3%."}, {"start": 47, "end": 51, "text": "Um, reducing a bit from, uh, 2023."}, {"start": 52, "end": 64, "text": "Personnel grew to 228 employees, from 208 the previous year, and most of that growth came from our two acquisitions."}, {"start": 64, "end": 66, "text": "Spotilla and Applirent."}, {"start": 67, "end": 73, "text": "Um, we've had a lot of changes during the year.
"}, {"start": 73, "end": 104, "text": "Um, first of all, our biggest change is the migration of data centers on which Lemonsoft Oyj software is run, all the way to Azure, which is crucial for our future development."}, {"start": 104, "end": 109, "text": "We are quite far at the moment and looking to finalize everything soon.
"}, {"start": 110, "end": 123, "text": "We also transitioned to a new E-invoicing operator, which was successfully completed quite early, at the later stage of 2024.
"}, {"start": 123, "end": 139, "text": "Both of these changes are expected to have a positive effect on our profitability, scalability, and service offering, as well as how the service is run and how customers are served."}, {"start": 140, "end": 146, "text": "We also had a lot of changes in the management and organization."}, {"start": 146, "end": 153, "text": "Um, in addition to the CEO changes, of which we actually had two during the year."}, {"start": 153, "end": 166, "text": "Uh, we also had Tuomas Koivisto joining the management team as Chief Commercial Officer in June and Janne Tammi as Chief Technology Officer in November."}, {"start": 167, "end": 176, "text": "We also implemented other smaller structural changes and responsibility adjustments within the organization."}, {"start": 177, "end": 189, "text": "The aim is to make the organization more efficient and to provide more value to our customers, especially with regards to Tuomas's position."}, {"start": 189, "end": 203, "text": "He's working on getting the group sales function to operate as one team and to provide a unified solution to our customers."}, {"start": 204, "end": 211, "text": "The two acquisitions we did in 2024 were a bit smaller than those we've done before."}, {"start": 211, "end": 220, "text": "Combined revenue was €1.5 million and EBIT was €300,000.
"}, {"start": 220, "end": 221, "text": "Approximately."}, {"start": 222, "end": 230, "text": "Spotilla is a well-suited addition to our manufacturing offering, which is our main focus area going forward.
"}, {"start": 230, "end": 255, "text": "Um, one of the main focus areas is that Applirent expands our offering to rental management, which works quite well with our expansion, especially in our transaction business as Applirent provides a comprehensive ERP solution for that segment and has been effective there for the past decade."}, {"start": 256, "end": 266, "text": "Looking at Q4, especially our net sales growth was very limited compared to our previous years.
"}, {"start": 266, "end": 273, "text": "And one of the main reasons is our consulting sales being significantly lower than earlier."}, {"start": 273, "end": 284, "text": "Uh, one target we have is to increase the share of continuous income, recurring revenue."}, {"start": 284, "end": 291, "text": "And that also has an effect on the consulting revenue in the future as well."}, {"start": 292, "end": 296, "text": "Gross margin was slightly higher at 86% compared to the previous year."}, {"start": 297, "end": 303, "text": "We've reduced the use of external services, which has an effect on that figure."}, {"start": 303, "end": 311, "text": "Adjusted EBIT was 19.6%, which is, of course, a lot lower than what we typically target."}, {"start": 312, "end": 329, "text": "A few of the reasons, or one of the major reasons, is the Azure migration, which had a direct expense effect for the whole year and especially in the last quarter."}, {"start": 329, "end": 340, "text": "And of course, we also had parallel expenses coming from the previous platform as well as the new one.
"}, {"start": 340, "end": 348, "text": "Uh, so both of those changes will also affect Q1, but on a smaller scale."}, {"start": 349, "end": 352, "text": "Recurring revenue grew to 82%."}, {"start": 352, "end": 358, "text": "2%, and we expect that figure to grow going forward as well."}, {"start": 361, "end": 371, "text": "Looking at the past five years, we've experienced continuous growth in revenue, approaching nearly 30 million.
"}, {"start": 372, "end": 384, "text": "The past year, adjusted EBIT came down a bit from 7.2 million in 2023 to 6.4 million in 2024."}, {"start": 384, "end": 388, "text": "And that's, of course, not the direction we want to go."}, {"start": 388, "end": 397, "text": "And we expect the changes we've done in the past six months and longer than that as well to impact positively."}, {"start": 397, "end": 405, "text": "With the Azure migration, we expect the effects to be positive, especially in the second half of 2025."}, {"start": 406, "end": 412, "text": "Looking at the quarterly development, uh, in the last three years.
"}, {"start": 412, "end": 421, "text": "One of the aspects you might consider is the higher revenue, especially in the last quarter of the year.
"}, {"start": 421, "end": 441, "text": "Each year in 24, the effect was more limited than in previous years we've had, especially in 23."}, {"start": 444, "end": 458, "text": "Looking at the market, we focus on the manufacturing, wholesale, and services market, and especially the market in manufacturing has had quite a difficult year.
"}, {"start": 458, "end": 466, "text": "2022 was a really good year for many companies, especially when compared to 2021 and 2022.
"}, {"start": 467, "end": 480, "text": "And after that, we've had quite a ride in '23 and going into '24 as well."}, {"start": 481, "end": 500, "text": "Um, the labor market negotiations were tough in the beginning of 24, and that had an effect on the whole demand-supply situation going into the latter part of 24."}, {"start": 501, "end": 502, "text": "The situation improved."}, {"start": 502, "end": 511, "text": "We are still in a situation where we have pretty low visibility on how the situation will develop."}, {"start": 511, "end": 522, "text": "Of course, we expect the positive trend to continue, but we are sort of, I would say, cautiously optimistic on how the market will develop going forward."}, {"start": 525, "end": 530, "text": "We've been focusing on operational improvements, especially in the last quarter."}, {"start": 530, "end": 534, "text": "Our focus is to develop our sales operations."}, {"start": 534, "end": 550, "text": "As I mentioned, our new chief commercial officer has been focusing on getting all of our products to be sold as a unified proposition, especially to manufacturing and wholesale customers."}, {"start": 550, "end": 575, "text": "And on the other hand, as a horizontal offering with financial management solutions and HR solutions to a wide range of small and medium-sized customers, we'll be talking in Q1 more about the commercial approach we've taken and how we expect to win new customers."}, {"start": 577, "end": 595, "text": "Uh, from the group's point of view, we've focused a lot on integrating the acquired businesses, both the two acquired last year and the ten companies acquired before that."}, {"start": 595, "end": 621, "text": "We've nominated a person acting as chief operating officer, focusing purely on integrating subsidiaries, making sure that the processes we have in place for all companies combine and align with the group's overall vision."}, {"start": 621, "end": 639, "text": "We are building or selling a broader solution, and we are actually focusing on one individual metric: the number of companies using more than two different software solutions that we offer."}, {"start": 641, "end": 652, "text": "Um, customer implementations, we had quite a difficult situation after the summer or actually during the whole year of 2024."}, {"start": 652, "end": 663, "text": "We made a lot of effort at the end of the year to improve the resource capacity in that specific function."}, {"start": 663, "end": 673, "text": "We addressed the challenges that we've had before, and we made some individual changes in the responsibilities of the management of that function.
"}, {"start": 673, "end": 678, "text": "And now we have a much better situation."}, {"start": 678, "end": 688, "text": "We've had the capacity restored, added a few more resources in the function, and we expect customer satisfaction to improve going forward.
"}, {"start": 690, "end": 712, "text": "Technology transitions I've discussed a few times before.
"}, {"start": 714, "end": 731, "text": "As you probably know, we had a ransomware attack basically two years ago in the spring of 2024, and after that, we've hired an information security manager."}, {"start": 731, "end": 740, "text": "We've put a lot of effort into getting our information security level much better than it's been before."}, {"start": 740, "end": 757, "text": "And we've also made a lot of effort within the management team and with key individuals in the organization to regularly practice scenarios that might occur regarding information security risks."}, {"start": 757, "end": 768, "text": "And we are very confident that the work we've done provides us with a very good position to react in any case in the future."}, {"start": 768, "end": 775, "text": "We've also initiated a capital efficiency program focusing on share buybacks."}, {"start": 775, "end": 781, "text": "And the objective is to improve our capital efficiency and earnings per share."}, {"start": 782, "end": 788, "text": "And that has been ongoing since November."}, {"start": 788, "end": 797, "text": "And then it's been developing well, looking at the acquisitions we did in 2024.
"}, {"start": 797, "end": 805, "text": "Spotilla is one of the market-leading solutions for maintenance field service and after-sales management."}, {"start": 805, "end": 823, "text": "It's a really easy solution to implement and is a very intuitive solution to use."}, {"start": 823, "end": 828, "text": "And that has a really positive effect on our market position within that segment."}, {"start": 829, "end": 840, "text": "The company is around €1 million in revenue at the moment, is growing well and has a positive cash flow and EBIT position."}, {"start": 841, "end": 852, "text": "Applirent is focused on rental and fleet management and has a customer base in the construction, manufacturing, and wholesale segments."}, {"start": 852, "end": 854, "text": "Around 100 customers."}, {"start": 854, "end": 864, "text": "A bit more, a bit bigger customers on average size than Spotilla, companies quite the same size as Spotilla grows."}, {"start": 864, "end": 874, "text": "Uh, it's growing a bit more slowly, but steadily, and EBIT profitability is very, very good for that size of business."}, {"start": 877, "end": 898, "text": "And then let's move on to detailed financials.
"}, {"start": 898, "end": 904, "text": "And that also brought some revenue increase in transactions in 2024."}, {"start": 905, "end": 910, "text": "Um, consulting revenue also grew in 23."}, {"start": 910, "end": 919, "text": "But, due to the focus that we have right now, it's going a bit down, and we expect that trend to continue."}, {"start": 921, "end": 939, "text": "Looking at the SaaS metrics, churn had grown a bit before in 2023, up to 5.4%, which is the highest we've had on an annual basis in the past years."}, {"start": 939, "end": 946, "text": "And during 2024, churn went down a bit to 4.4%, which is a good direction."}, {"start": 946, "end": 951, "text": "And that has not been alarmingly high at any time."}, {"start": 952, "end": 960, "text": "Net Revenue Retention, on the other hand, remains at a level that we are not at all satisfied with."}, {"start": 961, "end": 967, "text": "Um, especially upsells, downsells, and down sales within our current customer base."}, {"start": 967, "end": 969, "text": "That needs to improve."}, {"start": 969, "end": 975, "text": "We are focusing on streamlining our current customer sales processes."}, {"start": 975, "end": 992, "text": "Actually, at the end of the year, we moved the current customer care and sales function from customer care to under the sales function, which we expect to have a positive effect on that."}, {"start": 994, "end": 995, "text": "Good.
"}, {"start": 995, "end": 1001, "text": "And then let's look at the R&D development in more detail."}, {"start": 1001, "end": 1010, "text": "We had annual recurring revenue at the end of '23 at €20.6 million."}, {"start": 1010, "end": 1020, "text": "New sales amounted to €4.2 million, equivalent to a growth rate of 4.2%, which is, of course, a lot lower than we expected it to be."}, {"start": 1020, "end": 1024, "text": "Uh, going forward, downsell and upsell."}, {"start": 1024, "end": 1030, "text": "Um, as you can see, it's on the positive side, but it's still very low and declining."}, {"start": 1030, "end": 1040, "text": "Sell has been, or let's say, our customers have been reducing the use of our software during difficult market times, and upsell has been limited."}, {"start": 1040, "end": 1046, "text": "And now we expect that to improve on both sides of churn."}, {"start": 1046, "end": 1066, "text": "I've discussed quite a bit, and we expect the Q1, Q2 situation to still be not that positive since we have a lot of changes going on, but we expect the churn to remain fairly limited."}, {"start": 1066, "end": 1072, "text": "We had 6.7% growth from M&A, Spotilla, and acquisitions."}, {"start": 1072, "end": 1083, "text": "And that contributes to revenue for 2025 as well."}, {"start": 1084, "end": 1097, "text": "On the expense side, there have been no significant changes, but one area we could examine is the employee benefit expenses."}, {"start": 1097, "end": 1104, "text": "Personnel expenses have been going up, which is a direction that we want to change."}, {"start": 1104, "end": 1108, "text": "And that figure is now close to 50%."}, {"start": 1109, "end": 1118, "text": "And we expect that to go down, at least by the end of 2025."}, {"start": 1118, "end": 1129, "text": "The other operating expenses have been higher than before at 13.4% in Q4."}, {"start": 1129, "end": 1142, "text": "And that figure includes a lot of expenses from the Azure migration and parallel expenses associated with both the previous and the new platform."}, {"start": 1145, "end": 1152, "text": "From a personnel side, we've grown to 228 people.
"}, {"start": 1152, "end": 1183, "text": "Um, the organization is currently at a size that we are satisfied with, and we don't expect a need to significantly increase the number of employees."}, {"start": 1183, "end": 1188, "text": "I discussed the changes that we implemented at the end of last year.
"}, {"start": 1188, "end": 1204, "text": "We also changed the roles in the product management organization, so Kari Joki-Hollanti, the founder of the company, moved from product development to manage the product management function."}, {"start": 1204, "end": 1214, "text": "So basically driving the direction that we want to develop the whole product suite that we have.
"}, {"start": 1214, "end": 1219, "text": "And Janne Tammi joined the management team, and he leads the product development function."}, {"start": 1219, "end": 1229, "text": "And his main objective is to increase the efficiency and quality of launching new products and further developing our product portfolio.
"}, {"start": 1230, "end": 1242, "text": "We've had difficulties in the speed at which we bring new products to market and in developing existing products to lead in the market."}, {"start": 1242, "end": 1250, "text": "We expect to be well suited to fix both of those problems."}, {"start": 1250, "end": 1253, "text": "And they are in full speed at the moment."}, {"start": 1254, "end": 1261, "text": "As I mentioned, we also strengthened resources and clarified responsibilities within customer implementation.
"}, {"start": 1261, "end": 1270, "text": "And we also combined the two functions of implementations and customer care."}, {"start": 1270, "end": 1275, "text": "And we want those two functions to act better in unison."}, {"start": 1277, "end": 1278, "text": "Good."}, {"start": 1278, "end": 1282, "text": "I think we are fine with the organization.
"}, {"start": 1282, "end": 1292, "text": "And then, going into the year '25, we have a fairly cautious outlook on growth."}, {"start": 1292, "end": 1308, "text": "Net sales growth from 0 to 10% is expected; we anticipate organic growth to improve, but we are still evaluating the growth outlook from the current situation point of view."}, {"start": 1308, "end": 1320, "text": "And as far as we don't see significant changes in the current state, at the moment, we have a lot of changes going on."}, {"start": 1320, "end": 1327, "text": "Still, we don't expect to guide a strong growth momentum yet."}, {"start": 1328, "end": 1332, "text": "Additionally, market uncertainty is quite high at the moment."}, {"start": 1332, "end": 1347, "text": "Still, we expect positive trends to continue, but as you all know, the market situation, especially from a wide geopolitical point of view, is quite uncertain."}, {"start": 1348, "end": 1360, "text": "We, as I mentioned a few times, expect technological changes to affect profitability negatively during early 2025, and after that, we should see a positive effect."}, {"start": 1363, "end": 1372, "text": "Then, from an IR perspective, we will publish our annual report during week 12."}, {"start": 1372, "end": 1389, "text": "We'll have our annual general meeting on April 25th, and the interim reports will be published pretty much on the same schedule as previous years in April, August, and then in October."}, {"start": 1392, "end": 1392, "text": "Good."}, {"start": 1392, "end": 1399, "text": "And then I would like to give the mic to Yann."}, {"start": 1401, "end": 1402, "text": "As a reminder."}]}, {"speakerId": "S2", "sentences": [{"start": 1402, "end": 1411, "text": "If you wish to ask a question, please dial Pound Key five on your telephone keypad or use the raise hand function in the web browser."}, {"start": 1415, "end": 1425, "text": "For the moment, we don't have any questions on the lines, but we do have a few questions in the chat from external interest."}, {"start": 1425, "end": 1431, "text": "The first question is about your organic growth in 2023 and 2024, which has been slightly negative."}, {"start": 1432, "end": 1438, "text": "How do you assess this development in relation to your overall market and competitors?
"}]}, {"speakerId": "S1", "sentences": [{"start": 1440, "end": 1441, "text": "Yeah, thanks."}, {"start": 1441, "end": 1446, "text": "Um, our overall market position is fairly good."}, {"start": 1446, "end": 1478, "text": "If you look at it from a manufacturing wholesale point of view, we win the right kind of customers and we lose a very limited amount of the same type of customers in some aspects."}, {"start": 1478, "end": 1494, "text": "However, we have invested in sales and customer care functions in all of those subsidiaries, and we expect that trend to change going forward."}, {"start": 1494, "end": 1507, "text": "We've also invested in customer care within Lemonsoft Oyj, and that should have a positive effect on customer satisfaction."}, {"start": 1507, "end": 1520, "text": "And when we get to product development after the Azure migration, and product development is up to speed with all the changes back, I expect the situation to improve."}]}, {"speakerId": "S2", "sentences": [{"start": 1523, "end": 1523, "text": "And they are in full speed at the moment."}, {"start": 1523, "end": 1524, "text": "And they are in full speed at the moment."}, {"start": 1524, "end": 1534, "text": "Next one, could you elaborate on the profitability impact of the Azure migration this year after the project is completed and the old platform is closed?
"}]}, {"speakerId": "S1", "sentences": [{"start": 1536, "end": 1537, "text": "Yeah."}, {"start": 1537, "end": 1547, "text": "Um, so this year, the direct costs have been around, uh, half a million euros."}, {"start": 1547, "end": 1563, "text": "Um, and then we've had an effect from the parallel use of both platforms, uh, around €100,000 to €200,000 after the old platform is shut down, which should happen, sort of."}, {"start": 1563, "end": 1566, "text": "It goes gradually down, but should happen in February.
"}, {"start": 1567, "end": 1567, "text": "March.
"}, {"start": 1567, "end": 1581, "text": "We expect the costs of running parallel platforms to go down close to zero from the current €50,000 to €100,000 per month."}]}, {"speakerId": "S2", "sentences": [{"start": 1584, "end": 1585, "text": "Next one, could you open up the profitability impact of the Azure migration this year after the project is done and the old platform is shut down?"}, {"start": 1585, "end": 1585, "text": "Thank you.
"}, {"start": 1585, "end": 1594, "text": "Then next up, you are basically guiding flat or slightly decreasing profitability for this year with the guidance midpoint.
"}, {"start": 1594, "end": 1597, "text": "What is burdening profitability this year?"}]}, {"speakerId": "S1", "sentences": [{"start": 1598, "end": 1606, "text": "So if you look at our overall profitability, how our profitability develops depends pretty much on organic growth."}, {"start": 1606, "end": 1615, "text": "So if our organic growth is zero or negative, we will not have a positive profitability effect."}, {"start": 1615, "end": 1627, "text": "Um, if we don't reduce the number of employees significantly, at the moment we are putting a lot of resources into the technological transitions.
"}, {"start": 1627, "end": 1645, "text": "And before we finalize that, we then get to focus on the development of the actual functionalities in our software."}, {"start": 1645, "end": 1648, "text": "So, we expect those changes to finalize."}, {"start": 1648, "end": 1657, "text": "Then we expect to be able to focus on selling new software solutions and to our current customers."}, {"start": 1657, "end": 1664, "text": "And then after that, we expect organic growth to improve and then have an effect on profitability.
"}, {"start": 1664, "end": 1675, "text": "As I mentioned, we have quite a cautious guidance on both profitability and growth from this point of view.
"}]}, {"speakerId": "S2", "sentences": [{"start": 1677, "end": 1678, "text": "Thank you."}, {"start": 1678, "end": 1681, "text": "Interest remains."}, {"start": 1681, "end": 1693, "text": "Lemonsoft Oyj's profitability has decreased significantly after the IPO, and during that time, the announced over 40% EBIT margin target now seems quite high.
"}, {"start": 1693, "end": 1697, "text": "What is your current ambition with profitability in the mid-term?
"}]}, {"speakerId": "S1", "sentences": [{"start": 1698, "end": 1704, "text": "Yeah, when we announced those targets back in '21."}, {"start": 1704, "end": 1717, "text": "Um, the geopolitical and overall economic situation was quite different at that time."}, {"start": 1717, "end": 1731, "text": "During the past three years, we've faced difficulties, surprising challenges, both in our own software development as well as in information security, as I mentioned.
"}, {"start": 1731, "end": 1748, "text": "All of these changes, and of course, the acquisitions we've made—ten plus acquisitions in four years—have been somewhat more challenging to manage from a profitability standpoint."}, {"start": 1748, "end": 1757, "text": "So, all of these changes have had a negative effect on our profitability, and we expect that to turn around."}, {"start": 1757, "end": 1759, "text": "And we are working a lot on that.
"}, {"start": 1759, "end": 1764, "text": "And it, of course, depends on when we are able to do that."}, {"start": 1764, "end": 1771, "text": "But we'll provide an update on the long-term and mid-term financial targets later on.
"}]}, {"speakerId": "S2", "sentences": [{"start": 1773, "end": 1774, "text": "Thank you."}, {"start": 1774, "end": 1780, "text": "Then there have been a lot of changes in the Lemonsoft Oyj organization."}, {"start": 1780, "end": 1787, "text": "How has employee satisfaction and attrition level developed during 2023-2024?"}]}, {"speakerId": "S1", "sentences": [{"start": 1788, "end": 1790, "text": "Yeah, especially in 2023."}, {"start": 1790, "end": 1804, "text": "And going into 2024, we had a lot of changes in our attrition level and many changes in the management team and in the higher and upper management as well."}, {"start": 1804, "end": 1824, "text": "And during the past three months, looking forward, my personal point of view is that the situation has stabilized.
The employee satisfaction we go through on a quarterly basis in detail."}, {"start": 1824, "end": 1830, "text": "And we talk to all the teams that we have about what issues they are facing."}, {"start": 1830, "end": 1833, "text": "And we've seen positive developments from that point of view."}, {"start": 1833, "end": 1838, "text": "But of course, that's an ongoing issue, and we are working on it diligently."}]}, {"speakerId": "S2", "sentences": [{"start": 1841, "end": 1842, "text": "But we'll provide an update on the long-term and mid-term financial targets later on."}, {"start": 1842, "end": 1854, "text": "Then about acquisitions, are you mainly looking for smaller bolt-on acquisitions or are you still open for some bigger deals if the opportunity arises?"}]}, {"speakerId": "S1", "sentences": [{"start": 1855, "end": 1855, "text": "Yeah."}, {"start": 1855, "end": 1861, "text": "Um, we've been focusing on bolt-on acquisitions for the past four years."}, {"start": 1861, "end": 1869, "text": "Um, we always carefully analyze the market to see if there are bigger deals available."}, {"start": 1869, "end": 1875, "text": "And we've been participating in discussions, regarding bigger deals as well.
"}, {"start": 1875, "end": 1879, "text": "And we'll definitely consider those going forward as well.
"}]}, {"speakerId": "S2", "sentences": [{"start": 1882, "end": 1891, "text": "Okay then what is Lemonsoft Oyj's view on AI and what kind of development projects do you have related to that?
"}]}, {"speakerId": "S1", "sentences": [{"start": 1892, "end": 1893, "text": "Yeah, good."}, {"start": 1893, "end": 1894, "text": "Good question."}, {"start": 1894, "end": 1901, "text": "Um, we focus on using AI as a tool in our product development."}, {"start": 1901, "end": 1921, "text": "And we've actually, in the past two months, focused on getting all of our product development people to use the right tools from the right perspective."}, {"start": 1921, "end": 1927, "text": "There are a lot of tools available at the moment, and the number of tools improves and increases all the time.
"}, {"start": 1927, "end": 1940, "text": "And we have already seen a lot of good development in our own product development side from a proposition point of view."}, {"start": 1940, "end": 1948, "text": "We are piloting a few efforts that we want to bring into the market.
"}, {"start": 1948, "end": 1951, "text": "We'll discuss those in more detail.
"}, {"start": 1951, "end": 1964, "text": "I'd like not to make any promises, but we are working with a few partners to develop AI solutions for our internal use and especially for our customers."}]}, {"speakerId": "S2", "sentences": [{"start": 1967, "end": 1968, "text": "But we'll provide an update on the long-term and mid-term financial targets later on.
"}, {"start": 1968, "end": 1970, "text": "Then about cross-selling."}, {"start": 1970, "end": 1975, "text": "Is there some specific product combination that has been working well on that side?"}]}, {"speakerId": "S1", "sentences": [{"start": 1976, "end": 1986, "text": "Yeah, we actually follow on a monthly basis the number of customer companies using specific combinations of our products."}, {"start": 1986, "end": 1996, "text": "And, uh, one combo that has been working well for the past four years is Lemonsoft Oyj's solutions combined with other offerings."}, {"start": 1996, "end": 1999, "text": "So, there's the Lemonsoft Oyj ERP solution.
"}, {"start": 1999, "end": 2014, "text": "Uh, it could be a manufacturing company or a wholesale company that uses Lemonsoft Oyj's product management function, production function, or warehouse management function.
"}, {"start": 2014, "end": 2026, "text": "And then combine that, uh, with financial management HR and time management solutions of Gallagher, which is quite a good combo."}, {"start": 2026, "end": 2031, "text": "Then we have a financial reporting and budgeting solution."}, {"start": 2031, "end": 2040, "text": "And that works quite well with all of our products, especially Lemonsoft Oyj, Finvoicer, and so on.
"}, {"start": 2040, "end": 2046, "text": "Finvoicer provides a few different alternative propositions."}, {"start": 2046, "end": 2051, "text": "They work on invoice lifecycle management and invoice financing, among other services."}, {"start": 2051, "end": 2059, "text": "And we've essentially built the Finvoicer proposition and are integrating the financing option into Lemonsoft Oyj as well."}, {"start": 2059, "end": 2066, "text": "And that combination has been quite heavily adopted by customers.
"}]}, {"speakerId": "S2", "sentences": [{"start": 2069, "end": 2069, "text": "Yeah, we actually follow on a monthly basis the number of customer companies using a specific combination of our products."}, {"start": 2069, "end": 2072, "text": "That was the last question in the chat."}, {"start": 2072, "end": 2075, "text": "So back to you for closing comments.
"}]}, {"speakerId": "S1", "sentences": [{"start": 2076, "end": 2077, "text": "Thanks, Jan."}, {"start": 2077, "end": 2084, "text": "And we look forward to finalizing all the developments that we have ongoing in 25."}, {"start": 2084, "end": 2095, "text": "And at the end of the year, we expect to have a good market position, a good product position, and significantly more efficient processes within the organization.
"}, {"start": 2095, "end": 2099, "text": "We are looking forward to developing in the right direction.
"}, {"start": 2100, "end": 2102, "text": "And thanks a lot for joining."}, {"start": 2102, "end": 2107, "text": "We'll come back in the next Q1 report in April."}, {"start": 2107, "end": 2108, "text": "Thanks a lot."}]}], "speakers": [{"speakerId": "S1", "name": "Alpo Luostarinen"}, {"speakerId": "S2", "name": "Unknown 1"}], "id": "67b7173b2616371ce6c965ed", "createdAt": "2025-02-20T11:51:23.702Z", "updatedAt": "2025-02-20T11:51:23.702Z", "langCode": "en", "transcriptType": "ENHANCED", "amberscriptJobId": null, "speechmaticsJobId": "oelh0hruzj", "eventId": "67a9b1c190d58a451021a7f5"}