(Quebec) A retail giant will not open a new branch without using geospatial data to identify the best location. They have also become an indispensable tool for insurance companies in the risk assessment.
“Geotagging is now part of people’s lives. Today it is unthinkable to plan a trip, a bike ride or even a round of golf without using it, “remarked the president and founder of Korem, Sebastien Vachon.
This Quebec company specializing in geolocation technologies and software for data processing solutions that help companies make strategic decisions from the mapping.
As both a reseller and a data integrator and software, Korem offer and recommends its customers the best products offered by big industry players geospatial including Google, Pitney Bowes and Here. “We are what we call a one stop shop.”
Korem was not born in the latter rain.
Sébastien Vachon was founded in 1993.
This was at a time when Quebec was distinguished for gathering geospatial data from, including aerial photographs. Their use at that time, by business was still in its infancy.
Visionary, pioneer Korem then played to attract customers to this new inexhaustible source of information.
“We said that one day the market would eventually happen to us,” says Sébastien Vachon which now Shell, Home Depot, Desjardins, Bell, Hydro-Québec, National Bank SAQ and among its clients.
“It’s good to be before the wave, it is also to be at the top of the wave!” Commented Mr. Vachon, who holds 80% of the shareholding of the company. The rest belongs to employees.
Nearly a quarter of a century later, Korem full advantage of the current craze for geospatial data and deploying applications that can aid decision making by companies.
In 2015, the company achieved the best financial year in its history.
A record will be cleared quickly because 2016 does not look stung worms at all for the company 60 employees.
In fact, after only six months of the fiscal year, Korem has already reached 90% of turnover for the 12 months of 2015, particularly due to the increase of its customers in the US and sold technological solutions by its partners.
While welcoming the performance of its business, Sébastien Vachon can not help to see some gray clouds over the head of Korem that, by necessity, has to “ease off a bit” in his growth momentum.
Like other companies in Quebec growth, Korem, which also has an office in Denver, struggling to find talent. Bilingual talents besides. Architects. Sellers. Programmers. business analysts.
“These gems we we tear them to Quebec,” he notes.
Profitable and enjoying exceptional growth, Korem expects to be “well positioned” to make acquisitions. “We keep an eye,” says Sebastien Vachon.