Digital Workforce, a leader in process automation services, is thrilled to announce a partnership with Sema4.ai, the pioneering enterprise AI Agent company, to integrate Sema4 AI Agents into its Outsmart business process automation platform. This marks a significant advancement in holistic business process automation, combining the strengths of Robotic Process Automation (RPA) and the flexibility of Large Language Models (LLMs). AI agents enable fast and effective automation of knowledge work tasks that typically require intensive manual processes.

Revolutionizing Automation

With over nine years of experience in process automation, RPA, and Natural Language Processing (NLP) systems, Digital Workforce is at the forefront of this transformative change, where rule-based pre-trained RPA robots become more powerful when paired with GenAI-powered agents. The introduction of Sema4 AI Agents to its customers provides a new dimension of automation, going beyond tasks to processes and to complex workflows that were previously unattainable with traditional RPA alone. By harnessing the power of LLMs, Sema4 AI Agents can transform how knowledge work is executed and help create value by freeing up resources and accelerating innovation.

Seamless Integration and Enhanced Capabilities

AI Agents are designed to work seamlessly alongside existing process automation and RPA solutions and extend their capabilities. Organizations can continue leveraging their current automation technology investments while exploring expansion and new automation opportunities with AI Agents. Sema4.ai enables enterprises to build, run, and manage intelligent AI Agents by allowing teams to create built-for-purpose AI agents that can act against enterprise data and systems using LLMs.

Key features of Sema4 AI Agents include:

• Reasoning: AI Agents break down work into smaller, manageable subtasks and plans, mimicking human thought processes.
• Collaboration: Agents collaborate with other agents and humans using natural language, enhancing the overall workflow.
• Actions: Leveraging automation-as-code, AI Agents can connect to enterprise data and applications to get work done.
• Flexibility: From simple rule-based tasks to complex operations involving unstructured data, AI Agents bring a new level of flexibility to automation.
• Resilience: AI Agents are designed to be resilient to changes, ensuring long-term reliability in dynamic environments.
• Security: Ensuring data integrity and protection throughout automated processes.

By pairing Digital Workforce’s Outsmart Platform with Sema4.ai’s ability to power the complete AI Agent lifecycle, enterprises can now seamlessly manage, orchestrate, and monitor all their automated workflows and AI Agents processes in a secure, efficient, and effective operation.

“The GenAI-powered AI Agents within the Outsmart platform open up numerous new opportunities for automation. On average, our clients have been able to improve their profitability by 2-3% utilizing pure RPA, while 8-10% has been the state-of-the-art performance for the best. There are indications that the results can multiply with the new Agentic AI tools. The appetite for automation is growing, and Digital Workforce is committed to leading this evolution by offering the best combination of tools to achieve this. Sema4’s approach to agentic automation is unique, and with their background in open-source, data management, distributed systems, application development, and RPA, they have the right building blocks to succeed,” said Karli Kalpala, Head of Strategy Transformation at Digital Workforce.

“AI agents present a generational shift in how we build software, interact with computers, and how we expect AI to transform knowledge work. Digital Workforce is one of the pioneers in enterprise process automation, and they have seen first-hand the possibilities and the growth of the industry over the years. We think that by combining Sema4’s AI agent capabilities with Digital Workforce’s expertise in process automation, we can help organizations take advantage of this breakthrough and guide them to the new era of meaningful human-AI collaboration,” said Antti Karjalainen, Co-Founder of Sema4.ai.

Want to Know More?

Digital Workforce encourages organizations to take action and explore the new capabilities offered by Sema4 AI Agents. This partnership promises to transform knowledge work, not by replacing RPA processes but by enhancing and leveraging them within a broader AI-driven strategy.

For more information, please contact:

Karli Kalpala, Head of Strategy Transformation, Digital Workforce, p. +358 50 537 8707, karli.kalpala@digitalworkforce.com

Sema4.ai press@sema4.ai

About Digital Workforce Services Plc

Digital Workforce Services Plc is a leading business process automation services and technology solution provider globally. Digital Workforce Outsmart services and technology solution suites allow organizations to save costs, accelerate digitalization, increase revenue, improve customer experience, and gain a competitive advantage. Globally, over 250 large customers use Digital Workforce’s services and technologies to transform their businesses with automation. Founded in 2015, Digital Workforce currently employs over 200 business automation specialists in the US, UK & Ireland, and Northern and Central Europe. Digital Workforce is publicly listed in Nasdaq First North Growth Market Finland. https://digitalworkforce.com

About Sema4.ai

Sema4.ai is on a mission to enable Fortune 2000 enterprises to build, run and manage intelligent AI Agents that transform how people work. Sema4.ai’s category-defining AI Agents connect context to action, changing how knowledge work gets done in the enterprise. Sema4.ai is where the promise of AI meets the potential of people. https://sema4.ai

The post Digital Workforce Announces Strategic Partnership with Sema4.ai to Deliver AI Agents on its Outsmart Platform appeared first on Digital Workforce.

Digital Workforce, a leading provider of RPA and process automation services, has secured a significant project to transfer active customer data from the Pirkanmaa Wellbeing Services County through Istekki and Atostek. The project involves extracting active customer data from eight different source systems and converting it into a format that can be easily transferred to the new Saga system by Mediconsult.

This project is the largest active social care customer data transfer project in Finland to date, with at least 78,000 active customers’ data being transferred. The Saga system, scheduled for launch in November 2024, will integrate the previous systems into a single entity. During the transition phase, it is crucial that all active and valid customer data is transferred to the new system in a reliable, smooth, and efficient manner.

“The customer and patient information systems and ICT infrastructure in the social and health care sector of Pirkanmaa welfare county are currently very fragmented. One of the biggest challenges in social care is the fragmentation of the system landscape and operational processes. Municipalities have been using separate solutions, so consolidating them into a single system is an important step toward more efficiency and improved functionality. Istekki is responsible for providing the social care system and application service for Pirkanmaa Wellbeing Services County. With Digital Workforce’s turnkey data transfer service, we can efficiently deliver data transfer as a single procurement and project, even though there are many different source systems,” said Anna-Kaisa Parviainen, Project Director at Istekki.

“We are currently working on a project to transfer passive customer data, which has also been launched in the Pirkanmaa wellbeing services county. This will benefit the customer as we can use the same RPA (Robotic Process Automation) environment in both projects, and they also involve many of the same source systems. The active data transfer is a resource-intensive project requiring deep expertise, specialized knowledge of a wide range of source systems, and project management skills. Together with Istekki, we can offer support to the Pirkanmaa wellbeing services county in the new Saga system implementation project smoothly and reliably,” says Juha Nieminen, Head of Sales Finland, Digital Workforce.

Digital Workforce’s automation solutions for the social and healthcare sector are designed to meet the needs of wellbeing services counties by automating the transfer of active and passive data quickly and reliably. Their data migration solution is a turnkey service independent of the source system, providing a cost-effective, error-free, and agile solution.

The active data migration contract for the Pirkanmaa wellbeing services county is valued at €1,395,000 for Digital Workforce.

For more information, please contact:

Juha Nieminen, Head of Sales Finland, Digital Workforce
Email: juha.nieminen@digitalworkforce.com

About Digital Workforce Services Plc

Digital Workforce Services Plc is a leading business process automation services and technology solution provider globally. Digital Workforce Outsmart services and technology solution suites allow organizations to save costs, accelerate digitalization, increase revenue, improve customer experience, and gain a competitive advantage. Globally, over 250 large customers use Digital Workforce’s services and technologies to transform their businesses with automation. Founded in 2015, Digital Workforce currently employs over 200 business automation specialists in the US, UK & Ireland, and Northern and Central Europe. Digital Workforce is publicly listed in Nasdaq First North Growth Market Finland. https://digitalworkforce.com

The post Digital Workforce secures over EUR 1.3 million contract for the transfer of active customer data in the Pirkanmaa Wellbeing Services County appeared first on Digital Workforce.

Date: Tuesday, June 11th, 14:30-18:00
Location: Residence of the Ambassador of Finland, Kensington Palace Gardens, London

Join Digital Workforce and SS&C Blue Prism for an exclusive afternoon at the prestigious Residence of the Ambassador of Finland. This event will offer an unrivaled opportunity to network with leading professionals and pioneers in the insurance industry, alongside enjoying Nordic-inspired canapés and drinks.

Discover how AI and automation are transforming the insurance industry, leading to streamlined and cost-effective operations, faster and better services, and improved operational resilience, standardization, and control of business workflows. These advancements are not only enhancing efficiency and customer service but are also bolstering competitiveness and future valuation.

Engage with top experts from Digital Workforce and SS&C Blue Prism, who have been at the forefront of integrating automation technologies in the UK’s insurance industry. Our agenda includes keynotes on the latest trends in automation, practical insights, and real-world success stories showcasing significant improvements in insurance processes, such as claims management and broker submissions.

Event Highlights:

Networking with forward-looking insurance leaders and professionals
Insightful keynotes and real-world applications of automation in insurance
Hosted at the historic, Grade II-listed Ambassador’s Residence
Registration:
This event is complimentary for invited guests, but space is limited. Priority is given to those with personal email invites. Please register here to secure your spot. Confirmation will be sent within two business days.

By registering, you agree to our Privacy Policy and consent to being contacted by SS&C Blue Prism and Digital Workforce as per your provided details.

About the Ambassador’s residence
The event will be held at the official residence of the Ambassador of Finland, a Grade II-listed house at Kensington Palace Gardens. Guests will be welcomed with a drink reception, followed by short speeches, networking, and canapés.

The post Automation in the Insurance Sector – Exclusive Networking Afternoon appeared first on Digital Workforce.

Digital Workforce Services Plc: Business Review January 1 – March 31, 2024: Company continues to grow profitably, driven by its Healthcare division and North American business

Unless otherwise stated, the comparison figures provided in parentheses refer to the corresponding period of the previous year.

COMPANY CONTINUES TO GROW PROFITABLY, DRIVEN BY ITS HEALTHCARE DIVISION AND NORTH AMERICAN BUSINESS

The company returned to growth-track and in the first quarter of the year achieved a significant improvement in key financial indicators compared to the previous year’s trend. The company reported several new customer wins and made progress as planned in the strategically important Healthcare sector and in North America.

January-March 2024:

• Revenue was EUR 6.7 (6.5) million and increased by 3.0 %.
• EBITDA was EUR 0.3 (0.3) million and adjusted EBITDA EUR 0.3 (0.3) million.
• Operating profit was EUR 0.2 (0.2) million.
• Revenue from Continuous Services was EUR 4.0 (3.9) million and increased by 2.4 %. The percentage of revenue was 59.6 % (60.0 %).

• Revenue from Professional Services was EUR 2.7 (2.6) million and increased by 4.0 %. The percentage of revenue was 40.4 % (40.0 %).
• At the end of the reporting period, cash and bank receivables and other liquid assets were
• at EUR 13.0 (15.5) million.
• The number of employees at the end of the reporting period was 174 (194) and the average number of employees was 177 (192).

• On January 8, 2024, the company announced that Leon Stafford will leave his role as Head of Sales UK & Ireland on January 12, 2024 to pursue a career outside Digital Workforce.
• On January 15, 2024, the company signed a 3-year contract with a well-known global engineering company. The contract is estimated to be worth a minimum of EUR 0.8-1.2 million over the contract period.
• On February 2, 2024 the company appointed Karli Kalpala as Head of Region UK & Ireland and Head of Strategy Transformation.
• Digital Workforce was selected to implement two major data migration projects for the Central Uusimaa Wellbeing Services County (Keusote). The projects have a combined value of EUR 0.6 million and an estimated duration of 12 months.
• The company completed the acquisition of the company’s own shares on March 20, 2024. Digital Workforce acquired 75 358 own shares with a total value of EUR 249 980.15 and an average price of EUR 3.3172.

Outlook for 2024 (unchanged)

Digital Workforce’s full-year 2024 revenue is expected to be higher than in 2023 and adjusted EBITDA is projected to be positive and improve compared to 2023.

Key Figures

* The EBITDA adjustment consists of restructuring costs in 2023.

CEO Jussi Vasama:

“I am very pleased with the progress the company is making in implementing its strategy for profitable growth. The efficiency measures and successes in new sales at the end of 2023 supported a clear financial turnaround and are reflected in improved financial results in the first quarter.

The improvement in results compared to the previous year’s trend is significant. The success of the investments made and the good development of the operational activities is particularly well illustrated by the fact that the comparative figures for the first quarter of 2023 include EUR 0.5 million of product development support from Business Finland and product development activations, with no corresponding entries in the follow-up period.

The company continued to grow its business, particularly in the Healthcare sector and North America. This reflects the competitiveness of the company’s Outsmart service offering and the predictability of its Continuous Services in a generally difficult IT services market.  I see a good start to the year and successes in both new sales and existing customers as a good basis for accelerating profitable growth in the coming quarters.”

Post-Report period events

Digital Workforce Services announced on April 23, 2024 that it received a significant order from an existing client for professional services in the United States worth approximately EUR 2.7 million for the next 12 months. Digital Workforce will deliver services to support the client in analysing business process automation potential and developing process automations.

Financial calendar 2024

Digital Workforce services Plc will publish the following financial information in 2024:

• Half-Year Financial Report for January-June on August 23, 2024 at 9:00 a.m. EET
• Business review for January-September 2024 on November 1, 2024 at 9:00 a.m EET

Reports will be published as Company announcements will be available at https://digitalworkforce.com/investors/reports-and-presentations/.

This is not an interim report pursuant to the IAS 34 standard. The company adheres to the semiannual reporting arrangement laid down in the Securities Markets Act and publishes business reviews for the first three and nine months of each year, which present the key information on the company’s financial development. The financial information provided in this business review has not been audited. Unless otherwise stated, the figures in parentheses refer to the corresponding period of the previous year.

For further information, please contact:

Jussi Vasama, CEO, Digital Workforce Services Plc, Tel. +358 50 380 9893

Certified advisor

Aktia Alexander Corporate Finance Oy, Tel. +358 50 520 4098

The post Business Review January 1 – March 31, 2024 appeared first on Digital Workforce.

Digital Workforce Services Plc has appointed Juha Nieminen (Master of Science – MS, Industrial Engineering and Management) as Head of Sales Finland & Group Sales Operations and a member of the Management Team as of 8 April 2024. Juha has previously held a variety of sales management, business and sales development positions at Terveystalo, Heltti and Fazer, among others. In his previous position, he was responsible for Terveystalo Oyj’s consumer business in Finland.

In his new role, Juha will be responsible for leading Digital Workforce’s sales in Finland and developing sales tools, processes and operations at the corporate level.

“We are delighted to have Juha to strengthen our international sales organization and management team. Juha has a proven track record of successful sales management and solid experience in developing sales functions in a wide range of industries with a focus on healthcare,” says Jussi Vasama, CEO of Digital Workforce.

“Digital Workforce has great customers and a leading market position in Finland. I look forward to driving our customers’ success with innovative and holistic process automation solutions in Finland and abroad,” says Juha Nieminen, Head of Sales Finland & Group Sales Operations, Digital Workforce.

For further information, please contact:
Jussi Vasama, CEO, Digital Workforce Services Plc, Tel. +358 50 380 9893
Certified advisor
Aktia Alexander Corporate Finance Oy, Tel. +358 50 520 4098

About Digital Workforce Services Plc
Digital Workforce Services Plc is a leading business process automation services and technology solution provider globally. Digital Workforce Outsmart services and technology solution suites allow organizations to save costs, accelerate digitalization, increase revenue, improve customer experience, and gain a competitive advantage. Globally, over 250 large customers use Digital Workforce’s services and technologies to transform their businesses with automation. Founded in 2015, Digital Workforce currently employs over 200 business automation specialists in the US, UK & Ireland, and Northern and Central Europe. Digital Workforce is publicly listed in Nasdaq First North Growth Market Finland. https://digitalworkforce.com

The post Change in the Management Team of Digital Workforce Services Plc – Juha Nieminen appeared first on Digital Workforce.

Our keynote speakers will include renowned experts from Southern Company and [Sema4 customer], who will share their experiences and strategies in leveraging AI and automation to transform their businesses. Attended by the industry’s leading AI and automation experts, you can expect refreshing insights, actionable solutions, and unique views on the future of business automation.

This is an excellent opportunity to learn what other organizations in the Atlanta area have achieved regarding end-to-end process automation, generative AI, process automation excellence and enterprise-wide digital transformation.
Enhance your network: Connect with the best in automation in the Atlanta area – other forward-thinkers and innovators, just like you.
The evening will kick off with a networking session accompanied by a selection of exquisite hors d’oeuvres. This will be a perfect opportunity to connect with peers and thought leaders in the industry. Followed by presentations that explore the latest trends and real-world applications of AI, Business Process Automation, and Robotic Process Automation.
Enjoy an open bar throughout the event, and after the presentations, we’ll have a buffet dinner.
PROGRAM

3:00 pm – 4:00 pm: Registration & Networking
4:00 pm – 4:30 pm: “Automating Knowledge Work” – Sema4.ai founders discuss the impact of AI on automating knowledge work and what practitioners need to know about it today.
4:30 pm – 5:00 pm: “Innovations in Business Automation” – Karri Lehtonen from Digital Workforce Services Inc. presents the latest advancements in Business Process Automation and their practical applications in various industries.
5:00 pm – 5:30 pm: “AI-Driven Transformation in Banking” – A representative from Ally Bank shares insights on implementing AI and automation in the banking sector. [Interview on stage]
5:30 pm – 6:00 pm: “Real-World Applications of Intelligent Automation” – Kirk Hunter, RPA Analyst Team Supervisor, Southern Company, provides a case study on their digital transformation journey.
6:00 pm – 8:00 pm: Buffet Dinner & Networking
We look forward to seeing you there! Register now!
Please note: Spaces are limited, so register early to secure your spot

The post AI and Automation Summit: Redefining Knowledge Work appeared first on Digital Workforce.

No matter how far you are in your automation journey, Robotic Process Automation will play an important part in it. The further you go into the realm of digital transformation, the more apparent the synergy between Business Process Automation (BPA) and Robotic Process Automation (RPA) becomes. In this third part of our BPA blog series, we focus on how RPA assists in connecting enterprise applications and systems to the orchestration layer and harmonizing human and robotic efforts into a cohesive workflow.

1. Opposites attract: The relationship between BPA and RPA
   Both BPA and RPA have their own unique strengths that they bring to the table. While BPA orchestrates complex, end-to-end processes, RPA excels in automating rule-based, repetitive tasks. The synergy lies in the strategic marriage of these technologies, creating a dynamic ecosystem where the strengths of one complement the limitations of the other. Together, they transform disjointed processes into efficient workflows, ensuring that RPA tasks fit cohesively into the larger business processes.
2. Connecting legacy applications to the orchestrated workflow
   Not all applications have APIs through which data can be transferred back and forth. This is where RPA shines at its brightest, bridging the gap between the applications and orchestrated workflow. BPA tools facilitate the communication between RPA bots and diverse enterprise systems. Whether it’s extracting data from legacy applications, populating data into ERP systems, or orchestrating interactions across various platforms, the integration of BPA ensures that RPA becomes a versatile actor within the broader automation narrative.
3. Enabling Human-Robot Collaboration
   Amidst the automated processes, the human touch will always be needed one way or another. Human-in-the-Loop tasks within BPA and RPA workflows emphasize the collaboration between human workers and robotic counterparts. BPA tools, in this context, provide a platform where humans can intervene, make decisions that the automation is not capable of or allowed to be doing. This dynamic collaboration maximizes the strengths of both humans and robots, creating an outcome that is greater than the sum of its parts.
4. Governance and Compliance
   In the orchestration of BPA and RPA processes, the importance of governance and compliance must be considered. BPA tools play a crucial role in ensuring that the combined efforts of humans and robots adhere to regulatory standards and organizational policies. From audit trails to process monitoring, BPA provides the framework for maintaining order and transparency in the dynamic landscape of automated workflows.

It can be said that the cooperation between BPA and RPA is not just a collaboration; rather, it’s a symbiotic relationship that helps transform business processes. From seamless orchestration and integration with enterprise applications to human collaboration and governance, the marriage of BPA and RPA creates a holistic automation ecosystem. The orchestration of BPA and RPA processes is the key to unlocking new levels of efficiency, agility, and innovation for any organisation on their digital transformation journey.

Experience the power of seamless automation with our Digital Workforce Outsmart service. From streamlining simple workflows to complex case management, our unified cloud service adapts to your business needs. It’s designed for efficiency and priced for value – see tangible results in every aspect of your operations.

Ready to transform your business?
Want to know more about what BPA can do for your organization? Book a session with our experts here→

The post The role of RPA in orchestrated Business Process Automation solutions appeared first on Digital Workforce.

Financial Statements Bulletin January 1 – December 31, 2023 (unaudited)

Unless otherwise stated, the comparison figures provided in parentheses refer to the corresponding period of the previous year.

COMPANY ACHIEVED TARGETED TURNAROUND, FULL-YEAR ADJUSTED EBITDA POSITIVE

The company met its target of becoming profitable and expanding internationally in 2023. Continuous Services’ share of revenue increased, and the company achieved planned progress in the healthcare business area.

July-December 2023:

•  Revenue was EUR 12.3 (13.5) million and decreased by -8.7%.
• EBITDA was EUR -0.8 (-0.2) million and adjusted EBITDA EUR -0.2 (0.5) million.
• Operating profit was EUR -0.9 (-0.9) million.
• Revenue from Continuous Services was EUR 7.6 (7.8) million and decreased by -3.0%. The percentage of revenue increased to 61.7% (58.1%).
• Revenue from Professional Services was EUR 4.7 (5.7) million and decreased by
  -16.6%. The percentage of revenue was 38.3% (41.9%).
• Earnings per share (EPS) amounted to EUR -0.08 (-0.10).

January-December 2023:

• Revenue was EUR 24.9 (25.5) million and decreased by -2.2%.
• EBITDA was EUR -0.6 (-1.8) million and adjusted EBITDA EUR 0.2 (-0.9) million.

• Operating profit was EUR -0.8 (-2.6) million.
• Revenue from Continuous Services was EUR 15.2 (15.0) million and increased by 1.6%. The percentage of revenue increased to 61.1% (58.9%).
• Revenue from Professional Services was EUR 9.7 (10.5) million and decreased by -7.5%. The percentage of revenue was 38.9% (41.1%).
• Earnings per share (EPS) amounted to EUR -0.06 (-0.27).
• At the end of the reporting period, cash and bank receivables and other liquid assets were at EUR 13.2 (18.1) million.
• The number of employees at the end of the reporting period was 177 (190) and the average number of employees was 186 (193).

• On February 15, 2023 the company announced delivering professional business process automation services and staff augmentation to one of the most prestigious healthcare systems in the US.
• On March 3, 2023 Digital Workforce Services received an order for Professional Services of approximately EUR 2.2 million for year 2023 from a major utility company in the United States.
• Jussi Vasama joined the company as CEO on March 27, 2023.
• On March 28, 2023 Digital Workforce received the prestigious ISO 27001 certification for its information security management. The certification is awarded to companies that demonstrate a high level of commitment to protecting their information assets and implementing effective security controls.
• On May 25, 2023 the company announced a partnership with one of the leading NHS Foundation Trusts to Improve Patient Experience with End-to-End Process Automation. Using Digital Workforce’s innovative Outsmart PASS solution, the customer can speed up the registration process, inform nurses immediately about high-priority patients, and centrally monitor, orchestrate, and control the registration lifecycle.
• Digital Workforce has won the prestigious ‘Improving back-office efficiencies through digital’ HSJ Digital Award for their revolutionary Intelligent Automation Transformation Programme in Maternity in England on June 22, 2023. The HSJ Digital Awards recognize outstanding contributions towards healthcare services in England, and winning this national award demonstrates the exceptional drive of the team to innovate, build impactful solutions, and take on an instrumental role in transforming healthcare delivery.
• On November 1, 2023, the company announced that research firm Forrester published a Forrester WaveTM: Robotic Process Automation Services, Q4 2023 survey of key service providers in the market. Digital Workforce became the best supplier in the Current Offering category, achieving the best possible result e.g.  criteria for Vision, Innovation, Pricing flexibility and Transparency.
• The company issued a profit warning on November 24, 2023 and updated its guidance: Digital Workforce’s full-year 2023 revenue is expected to be 24-25 million euros and profitability is expected to be positive on an adjusted EBITDA basis.
• The company announced on December 7, 2023 that the new Certified Adviser is Aktia Alexander Corporate Finance Oy. The agreement with the current advisor Danske Bank A/S, Finland Branch expires on November 31, 2023. Aktia Alexander Corporate Finance Oy takes over the responsibilities of Certified Adviser as of January 1, 2024.
• The company announced on December 12, 2023 that a major Nordic pension insurance company selected Digital Workforce as its provider of end-to-end automation services.
• The company announced on December 12, 2023 that it will start the acquisition of the company’s own shares. The maximum number of shares to be acquired is 110 000, which corresponds to approximately 1 per cent of the company’s shares. However, the amount used for acquiring shares will be at most EUR 250 000. The acquisition of the company’s own shares starts on 13 December 2023 at the earliest and ends on 30 June 2024 at the latest.

Outlook for 2024

Digital Workforce’s full-year 2024 revenue is expected to be higher than in 2023 and adjusted EBITDA is projected to be positive and improve compared to 2023.

Key figures

CEO Jussi Vasama:

“The year 2023 was a time of significant turnaround for Digital Workforce. In line with our strategy, we succeeded in acquiring large new customers and driving business growth in North America and in the strategically important healthcare business area. In addition, excellent cooperation in diverse automation projects in Finland intensified with both new and existing customers in the wellbeing services counties during the second half of the year.

We signed long-term contract extensions with our current customers, such as the Finnish Defence Forces, during the second half of the year. Our measured customer satisfaction, which was already at a good level, continued to rise to an even higher mark during 2023, demonstrating our ability to create value for our customers across our service offering. The Outsmart service offering extended to cover end-to-end process automation, including the AI-based intelligent document processing (IDP). The services under Outsmart are easily and effortlessly available to all our existing and new cloud customers and are flexibly priced according to customer value creation.

Our growth was less than targeted in the second half of the year. Despite this the full-year net income improved by EUR 2.3 million from 2022. The share of Continuous Services of our revenue, which is central to the company’s strategy, grew in 2023 reaching 61.7% of revenue at the end of the year. The high share of Continuous Services provides the company with predictability and business continuity in the face of short-term fluctuations in demand.

The profitability figures for the second half of 2023 include, as non-recurring expenses, cost saving measures at EUR 0.6 million, implemented to improve operational efficiency. Going forward, we will serve customers in Norway and Denmark from our centralized Scandinavian unit in Sweden and from global operations. This will enable us to direct our investments in 2024 into our growth markets, notably the USA and the UK.

In June, we announced a second strategic business area, Financial Services Industry (FSI). In this business, we are focusing on end-to-end business process automation and Continuous Services enabled by our Outsmart service offering. During the second half of the year, we deepened our cooperation with our strong existing FSI customer base. In addition, a major Nordic pension insurance company chose us as a provider of end-to-end automation services in December.

Digital Workforce is an attractive employer. The availability of employees from the market has been good, and the existing employee retention rate has decreased. We continue to recruit in our strategic business areas and in our growth markets in the US and UK. A thriving and skilled personnel is at the heart of Digital Workforce, and this will also be reflected in the Sustainability Report which will be published as part of the Annual Report.

I see the year 2024 providing us with a solid foundation for implementing our profitable growth strategy. We have great opportunities to leverage business process automation and AI in our current customer base, and we will strengthen our investments in strategic business areas and growth markets. Our cash position is good, and potential acquisitions are still part of our plans. We believe in a successful future and in excellent growth opportunities in the medium term.

We expect the company’s revenue to grow and the adjusted EBITDA to be positive and improve compared to 2023. From the beginning of this year, we are moving back to quarterly reporting, believing that this is the best way to keep investors informed of our rapid progress. By the end of 2026, the company aims for revenue of EUR 50 million and an EBITDA of over 10%.”

Helsinki February 27, 2024

Digital Workforce Services Plc
Board of Directors

For further information, please contact:

Jussi Vasama, CEO, Digital Workforce Services Plc, Tel. +358 50 380 9893

Certified advisor

Aktia Alexander Corporate Finance Oy, Tel. +358 50 520 4098

About Digital Workforce Services Oyj

About Digital Workforce Services Plc

Digital Workforce Services Plc is a leading business process automation services and technology solution provider globally. Digital Workforce Outsmart services and technology solution suites allow organizations to save costs, accelerate digitalization, increase revenue, improve customer experience, and gain a competitive advantage. Globally, over 250 large customers use Digital Workforce’s services and technologies to transform their businesses with automation. Founded in 2015, Digital Workforce currently employs over 200 business automation specialists in the US, UK & Ireland, and Northern and Central Europe. Digital Workforce is publicly listed in Nasdaq First North Growth Market Finland. https://digitalworkforce.com

Attatchments

Financial-statements-bulletin-2023_final.pdf

The post Digital Workforce Services Plc’s Financial Statements Bulletin, January 1 – December 31, 2023: Company achieved targeted turnaround, full-year adjusted EBITDA positive appeared first on Digital Workforce.

SSS&C Blue Prism®, the leading intelligent automation platform, is constantly evolving, and new features are being introduced. The latest version, SS&C Blue Prism® Enterprise 7.3, was released in December 2023. Among many other exciting features of the Version 7 platform, the current release provides:

• Native Citrix Virtual Apps and enhanced Citrix Virtual Desktops automation capabilities offer increased security and more flexibility when automating Citrix environments.
• Enhanced Application Modeller (Beta release) offers modernized and improved building of accurate and robust application models for faster automation.
• SmartVision is Blue Prism’s latest AI-based SurfaceAutomation technology for Application Modeller.

Furthermore, Blue Prism has lately introduced major updates to its Decipher (Intelligent Document Processing), Interact (Human-In-The-Loop), and Capture (Process Capturing) products, which will also be covered during the session.

Join our webinar with Blue Prism product specialist Michael Hagen (Partner Solutions Consultant, Blue Prism) and also hear about Blue Prism’s future roadmap.

The webinar is hosted by Joachim Wasilewski, Senior Solutions Consultant at Digital Workforce.

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Digital Workforce Services Plc has been selected to implement two major data migration projects for the Central Uusimaa Wellbeing Services County (Keusote). These projects involve archiving customer and patient data from Keusote’s decommissioned systems – ProConsona, Pegasos, and Mukana – into the legally compliant Kanta archive and Keusote’s archives.

The total value of the archiving projects is €635,000, and they are estimated to take 12 months, consisting of four main phases: archive planning, data extraction, data migration, and data archiving. There are 11 databases to be migrated.

Digital Workforce will use Robotic Process Automation (RPA) technology for data extraction and archiving, ensuring the efficiency and cost benefits specified in the tender. The tendered solution will be delivered in cooperation with the subcontractor Atostek Oy. As the contract partner and responsible supplier, Digital Workforce will be accountable for project implementation, providing document and administrative data extraction, printing, and archiving in Keusote’s archive. Atostek Oy is responsible for converting and transferring the data to the Kanta archive as an ERA transfer.

“Keusote is a new client for us. We are excited to be able to bring our solid experience from similar projects to Keusote. Two simultaneous projects will bring significant benefits and efficiencies to the client as the same project manager and team will manage them. Our migration solution is highly cost-effective and of high quality, and we can promise on-time completion as long as we proceed according to the project plan. This way, our customers can get rid of their legacy systems as quickly as possible,” says Juha Järvi, Head of Global Healthcare, Digital Workforce.

The solution developed by Digital Workforce and Atostek has transferred millions of documents to Kela’s Kanta archive and customer-specific archives, covering a large part of similar migration projects in the Finnish wellbeing services counties so far.

The Customer Information Act obliges all public social care service providers to join Kanta archives by 1.9.2024. This puts pressure on the renewal of systems and the archiving of old data. Digital Workforce estimates that most of Finland’s approximately 800-1000 archivable social welfare and health care systems are not yet archived.

The decision on the Pegasos and Mukana archiving project will become final after the end of the appeal period under the Public Procurement Act. The deadline for appeals for the ProConsona project has expired.

For further information, please contact:
Juha Järvi, Global Head of Healthcare, Digital Workforce Services Plc
juha.jarvi@digitalworkforce.com

About Digital Workforce Services Plc
Digital Workforce Services Plc is a leading business process automation services and technology solution provider globally. Digital Workforce Outsmart services and technology solution suites allow organizations to save costs, accelerate digitalization, increase revenue, improve customer experience, and gain a competitive advantage. Globally, over 250 large customers use Digital Workforce’s services and technologies to transform their businesses with automation. Founded in 2015, Digital Workforce currently employs over 200 business automation specialists in the US, UK & Ireland, and Northern and Central Europe. Digital Workforce is publicly listed in Nasdaq First North Growth Market Finland. https://digitalworkforce.com

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