From everyone at FBK we want to wish you a joyful holiday season, a merry Christmas and an happy New Year. Whatever you’re celebrating, we hope you celebrate.
It’s been a long year for many of us and now is time for reflections and considerations. At FBK we are grateful that we’ve been able to play our role in helping Life Sciences companies in one of their most critical commercial process: tendering—the primary source of revenues for most of them. Our ability to allow people to manage bids and tenders at 360° from wherever they are in the world has paid off heavily and has allowed companies to stay up and running even in the most complex periods.
FBK is a company that looks for tendering problem and solves them to allow enterprises to make tender management simpler, more efficient and more profitable. We operate in a very critical sector that has a strong social impact on the lives of each of us—we are seeing it every day with the pandemic.
We are getting younger, faster and bigger in order to superpower our product development and geographical coverage. We are partnering with the industry-leading software to let teams get even more value from CM|XS Suite capabilities and integrations—building a better way to manage tenders, together.
An interesting things of this year is that people understand even more that companies need Tender Management system and have learned the great value that comes with it. Today as never before in history it is impossible to think of being able to manage a business like this in a fragmented and dispersed way—this has a profound effect on the competitiveness and profitability of the companies.
On the other hand we have many products that are going live over the next year. Products that are outside the horizon of what we're doing, such as building AI off the largest data set based on +20 years historical tenders on our CM|XS Suite platform, create powerful machine learning capabilities—and many other more things to come.
Tendering market is exploding: there are millions of tenders published every year by governments globally. The value of all this is estimated to be about $5 billion, and is expected to reach $9 billion by 2025. And of course, the pandemic has supercharged the need for digitized government procurement.
We’re grateful for our leading role in tendering space.
Happy holidays from all of us at FBK, take care and be safe.