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TietoEVRY Oyj SWOT & PESTLE Analysis

ID : 52753953| Oct 2020| 12 pages

COMPANY PROFILE -TietoEVRY Oyj

Business Sector :Finland, Europe, Global

Operating Geography :Information Technology

About TietoEVRY Oyj :

Tieto Oyj is a leading digital services and software company with local presence and global capabilities. It was founded in 1968 and is headquartered in Helsinki, Finland. The company creates digital advantage for businesses and societies. It provides services to the following industry groups: financial services; public, healthcare and welfare; industrial and consumer services. As of 2020, it serves thousands of enterprise and public sector customers in more than 90 countries. Tieto employs 24,000 experts globally. Tieto and EVRY merged to create a Nordic digital services company, promoting openness, trust and diversity. TietoEVRY offers application development and maintenance as a part of its core services. It offers optimized application management for enterprises and has built a foundation for operational efficiency. The company also offers open-source alternatives to licensed tools, which helps reduce the costs for enterprise customers by up to eighty per cent.
Tieto received Solution Partner Award in Intel Network Builders Winner’s Circle program for the second consecutive year in 2019. Intel and the ecosystem drive strongly the 5G transformation. Tieto’s software engineering services aim to accelerate innovation with early concepts, and feasibility, all the way to complete software R&D outsourcing. The company’s unique selling proposition or USP lies in it being positioned as a Nordic Leader in the Next-Gen Private/Hybrid Cloud.

TietoEVRY Oyj Revenue :


EUR 1,614 million – FY ended 31st December 2019 (y-o-y increase of 0.875%)
EUR 1,600 million – FY ended 31st December 2018

Competitive Analysis of TietoEVRY Oyj

SWOT
PESTLE
The SWOT analysis for TietoEVRY Oyj is presented below in a table followed by the detailed analysis report.
Strengths
Weaknesses
1. Market leader in Digital Services in Norway, Sweden and Finland
2. Diverse global capabilities with a portfolio of five service lines
3. Strong and consistent cash flow generations
1. Business focus limited to Nordics region
2. High level of debt compared to industry peers
Opportunities
Threats
1. Development of highly complementary businesses by merger of Tieto and EVRY
2. Expansion of strategic partnerships like with UPM
3. Positively dynamic outlook for Nordic IT market
4. Nordic companies looking to move to a multi-cloud environment
1. Cloud Hopper attacks on Managed Service Providers
2. Negative currency impacts on business growth
3. Stiff competition in the Nordic region from India-based IT services companies
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Detailed SWOT Analysis of TietoEVRY Oyj

Strength

1. Market leader in Digital Services in Norway, Sweden and Finland: TietoEVRY, emerged out of a merger between Tieto and EVRY, is a market leader with strong local presence in Digital Services in Norway, Sweden and Finland. It is also considered as one of the largest communities in the Nordics, with strong technology and business professionals. As of the first quarter of 2020, the company has employed approximately 24,000 professionals globally. With an annual turnover of nearly EUR 3 billion, TietoEVRY’s outreach to its customers spreads over 90 countries. The company makes intensive investments in technology and services of more than EUR 120 million per year to leverage its global capabilities. With the help of the Nordic values including openness, trust and diversity along with its expertise, new technologies and data, TietoEVRY strives to empower the development of the society and sustainable businesses.

2. Diverse global capabilities with a portfolio of five service lines: Being one of the leading digital services and software company across the globe, TietoEVRY strives to create both digital and sustainable advantages for its businesses and the society as well, by leveraging its strong local presence and diverse global capabilities. The global capabilities are supported by a portfolio of five service lines including digital consulting, cloud & infrastructure, industry software, financial services solutions and product development services. With the help of the digital consulting service line, the company captures the value generated from the customers’ digital journeys aided by one of the largest pools of digital experts. Similarly, the other service lines help in the creation, processing as well as delivery of automated solutions, core financial services, full stack with flexible models and software platforms, and also, in the acceleration of ‘time to market’ for high-tech software products.

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Weakness

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Opportunity

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Threats

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SWOT & PESTLE (combined)
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in TietoEVRY Oyj Analysis Report

1. TietoEVRY Investor Presentation 2020 - https://www.tietoevry.com/siteassets/files/investor-relations/2020/investor-presentation-q1-2020-may.pdf
2. TietoEVRY Annual Report 2019 - https://ar2019.tietoevry.com/siteassets/download/tieto-annual-report-2019.pdf
3. Finland’s Tieto and Norway’s Evry merge to fend off competition from Indian suppliers: https://www.computerweekly.com/news/252465348/Finlands-Tieto-and-Norways-Evry-merge-to-help-fend-off-competition-from-Indian-suppliers
4. Report: Cloud Hopper Attacks Affected More MSPs: https://www.bankinfosecurity.com/report-cloud-hopper-attacks-affected-more-msps-a-13565
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SWOT & PESTLE.com (2020). TietoEVRY Oyj SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/tietoevry/ [Accessed 02 Dec, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

TietoEVRY Oyj SWOT and PESTLE analysis has been conducted by Anindya Anindita and reviewed by senior analysts from Barakaat Consulting.

Copyright of TietoEVRY Oyj SWOT and PESTLE Analysis is the property of Barakaat Consulting. Pl

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TietoEVRY Oyj SWOT & PESTLE Analysis
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