Unique strategies, updates to the operating environment, and internal changes have enabled Iskraemeco to grow faster than the industry average
SANTA CLARA, California, April 7, 2020 /PRNewswire/ — Based on its recent analysis of the global smart meter market, Frost & Sullivan recognizes the Slovenia-headquartered Iskraemeco, d.d. with the 2020 Global Growth Excellence Leadership Award. As part of the Elsewedy Electric Group, Iskraemeco has successfully transformed from a product-oriented business into a comprehensive smart metering solutions provider. Within just ten years, it has positioned itself as one of the top three largest smart metering solutions providers in the Europe, the Middle East, and Africa (EMEA) region ‑ a highly competitive market.
"Iskraemeco’s focus on short-term and long-term growth strategies, increased value chain penetration, and tailor-made solutions have helped it achieve high top-line and bottom-line growth. It leverages a robust, self-sustaining growth pipeline system with considerable investment in products and markets outside EMEA, including Latin America and Asia Pacific," said Neha Tatikota Industry Analyst. "It has also implemented a solid inorganic strategy, wherein it established a holding company in Switzerland with plans to branch out from core electricity metering to gas and watersolutions. It has achieved great success with its focus on leveraging Mega Trends and M&As to expand within the broader IoT and smart city solutions space, with emphasis on end-to-end project delivery." The company’s up-and-coming transition from a traditional manufacturing company to a smart metering solution provider, that has been driven by digitalisation and new business models arising on the electricity market, are areas of strategic importance to Iskraemeco`s future business.
The company recently underwent significant changes at an organizational level, streamlined its operations, fine-tuned commercial departments, and made forays into sales operations to support field sales as well as its remote local offices and regional hubs. Furthermore, the company has established a system alliance partner ecosystem and processes to ensure the right level of coordination to win complex projects. On the strength of these initiatives, it achieved over 100 percent growth in 2017 and more than 30 percent revenue growth in 2018.
Significantly, it set up a new production line at its headquarters in Kranj to help it meet the rising demand for smart metering and increase production capacities to deliver 300,000 to 500,000 meters annually to the German market. In Central Eastern Europe, Iskraemeco is working continuously with the major utilities to support the modernization of their infrastructure, and also has a strong presence in the Baltic regions, Benelux, Russia, and Central / Eastern European markets such as Poland, Croatia, Bosnia And Herzegovina, Slovenia, and Macedonia.
"Over the last few years, Iskraemeco has made customers a focal point within its key processes. This shift has created better visibility into their needs and pain points, allowing the company to deliver richer customer value," noted Neha. "Iskraemeco’s technology excellence, innovation, and customer value give it a valuable competitive edge in the smart meter market. Besides, extensive experience, innovation, sustainability and circularity, and efforts towards building and strengthening brand equity have enabled it to consistently outperform the market and establish market dominance."
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. It recognizes the superiority of the product/service as well as the overall customer, purchase, ownership, and service experience offered, which has resulted in the recipient company seeing above-market growth and greater share of wallet. The award lauds the growth, diversification, and sustainability strategies of the company.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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Since the company’s founding in 1945, Iskraemeco employees have been transforming their invaluable experience, innovation, and thorough understanding of our customers’ needs into comprehensive energy management solutions. Ever since Iskraemeco has been delivering quality products, solutions and services that make efficient energy use a reality to energy companies worldwide. Our robust portfolio of smart metering solutions lets us predict future needs for efficient energy management. Digitalized solutions based on IoT, data lakes, and smart cities gives utilities the necessary data to manage energy use, anticipate demand, and optimize costs. It also helps consumers act more sustainably, while significantly lowering their energy bills.
By using our smart metering solutions we are helping utility companies all over the globe improve their efficiency, lower operating costs and provide better customer service. With a focus on quality, reliability, and innovation we are committed to support our customers to master the digital transformation journey. Most important goals in our business processes are inspired by flexibility, agility and creativity. Building a sustainable offering for a better life is our dedication.
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