By Damian Martinez, journalist at G&M News.
Which skills and abilities you have developed after more than 14 years of hands-on experience working in the finance department of companies operating in different industries?
For any seasoned professional, if you want to excel in your field of expertise, you must develop and enhance a special set of skills. Challenges directly impact on any person’s growth process. Without them you will not evolve and improve yourself, both from a professional and personal standpoint. I can mention a few of those skills. 1) Strategic thinking: the more experience you gain, the more you should be able to provide insights and guidance to drive sustainable growth and profits, supported with the development and implementation of financial strategies. 2) Risk management: as part of the “strategic thinking”, identifying and mitigating potential risks is fundamental to protect and support business growth. 3) Leadership: team management, delegation of tasks, providing feedback, and coaching team members to achieve their goals to contribute towards the achievement of the company’s end goal, and 4) Communication & presentation skills: strong and clear communication skills are key. Communicating financial information to a non-finance audience either orally or in the form of a presentation, in a clear and concise manner, will aid in building credibility with stakeholders to make informed business decisions.
What are the key factors that the company looks at before entering a territory?
First and foremost, it is very important to check out the market’s demographics, gaming preferences and the economic stability of the territory being considered. Following, the in-house compliance team will perform a detailed regulatory review of the market, including a clear understanding of the local licensing regime. Soft2Bet regulatory expansion goes hand in hand with our turnkey solutions: it enables swift expansion into new markets. Fully understanding the competitive landscape of a particular market will assist us in the preparation of effective differentiation strategies, proper infrastructure, and technological readiness to make sure we deliver a seamless gaming experience to our players in a new market. Finally, after taking into consideration the above factors, a detailed and well supported set of financial projections is prepared and presented accordingly. Based on this, a decision will be made on the way forward.
During 2023, Soft2Bet recorded an audited growth of 46% in gross revenue across its B2B and B2C operational areas. What were the main factors that contributed to these numbers?
The introduction of our groundbreaking gamification solutions, Motivational Engineering Gaming Application (MEGA), has played a pivotal role in our growth by way of enhancing player engagement. MEGA showcased remarkable results, boosting the average revenue per user (ARPU) by over 60%. Organic growth, new partners, and strategic expansion into regulated markets have been instrumental in our success. Going live in key territories such as Sweden and Romania has broadened our reach and enabled us to tap into new pools of players, thereby fueling our revenue increase. In addition to this, cost optimization across several departments also contributed to the company’s best ever performance results. Needless to say, the results of 2023 triggered off more challenging targets for 2024. Hence, Soft2Bet must not only ensure to retain the 2023 success, but also grow even further in 2024.
One of the main focuses of the company for 2024 will be its MEGA technology. Could you tell us more about this solution? What added value does it bring to operators?
Motivational Engineering Gaming Application (better known as MEGA) is Soft2Bet’s innovative gamification tool designed to transform basic games into an impactful expansion tool for operators by boosting the player’s engagement. Tailoring challenges, rewards, and interactions based on the player’s preferences has proven to contribute towards a longer player engagement which leads to higher wagering. Powered by the latest innovations, equipped with simple yet secure API integrations via Soft2Bet’s turnkey solutions, MEGA ensures a cohesive user experience across the platform, driving higher conversion rates and fostering customer loyalty.
Another plan of Soft2Bet for this year is to further expand its presence in Europe and North America. In which countries will the company focus their efforts?
The company’s plans for 2024 are focused on entering and launching its innovative products in new European markets, including but not limited to Italy and Greece. At the same time, S2B has more in the pipeline for 2024 (penetrating the American market, starting off with Ontario in Canada). This is not enough though. S2B is currently gearing itself to secure and launch its operations under another non-European license. If you want to know more, make sure that you follow S2B on all social and professional networks.