With the acquisition of UK-based NFS Technology, Korbyt has become one of the three leading global providers of workplace experience (WEX) platforms alongside Appspace and Poppulo. In addition to digital signage, WEX platforms also integrate mobile apps for a holistic approach to manage workplace and resources. invidis met Korbyt CEO Ankur Ahlowalia to talk about trends and drivers and the new partnership with Zoom.
Korbyt is one of the veterans of the digital signage industry – the digital signage provider formerly known as RMG Networks and Symon has been in the industry since 1980. In North America, the company considers itself the undisputed retail banking market leader – 40% of all major US commercial banks rely on Korbyt. The Dallas-based company has won many projects in the rapidly growing enterprise market. In Europe, Lufthansa is one of Korbyt’s well-known customers.
In addition to retail and workplace experience, Korbyt is also well positioned as a visualization specialist in contact centers (call centers). Whether LED or displays, digital signage screens visualize current waiting times, number of customers on hold, customer satisfaction and many other KPIs.
Korbyt is focusing on SaaS
In 2023, Korbyt was acquired by U.S. financial investor Clearhaven Partners, an important milestone in its long-term transformation to become a WEX platform leader. Even though the majority of its business is conducted in North America, Korbyt has a long international history. As RMG networks, it once served clients worldwide, especially in Europe and the Middle East.
After several management changes and retracting from Europe and the Middle East, the company rebranded as Korbyt and hired CEO Ankur Ahlowalia, who is now focusing on the transformation into a SaaS company and global expansion.
Today, all Korbyt endpoints run on a modern SaaS platform. “We are completely serverless. Most of our customers run in the service cloud”, says Ankur Ahlowalia. He considers the modern software architecture as an advantage over the two market competitors who still use perpetual licenses on a large scale. “Even if we are not yet the largest WEX provider, in the top 3, we are aiming for a recurring revenue of USD 50 million ARR in the medium term.”
Apps complementing digital signage
A modern WEX platform today needs more than just digital signage. Korbyt acquired the British workplace app specialist NFS this year. With this transaction, Korbyt tripled its sales with European enterprise customers.
But Korbyt doesn’t stop at simply combining signage and apps. “For one of the largest retail banks in the U.S., we have connected our workplace platform with their building management system. Our data integration is unique. This means we can offer our users holistic usage scenarios beyond the direct workplace.”
The partner eco-system is becoming more relevant
While Korbyt traditionally served customers directly, the focus has shifted to indirect sales through integrators such as AVI-SPL, Diversified or GPA members as well as large platform operators like Zoom. The video conferencing provider offers Korbyt’s workplace experience platform on Zoom Marketplace – the app store for Zoom customers.
As employees are returning to the office, demand for WEX solutions is changing too. Since the pandemic, organisations have rolled out various apps from countless providers, often with little to no strategy. Today solutions are increasingly being consolidated to avoid duplication and to save costs. And the solution mix is changing as the days of cubicles are counted. Wayfinding, desk reservations, meeting rooms – shared resources must be managed efficiently and in real time, both via app and on digital signage screens. “Some providers focus very much on apps, we see a great need for platform-independent solutions. We are well positioned with digital signage and mobile apps – a logical complement but not a replacement.”
Happy customers
But the best software platform is nothing without happy users. Korbyt CEO Ankur Ahlowalia focuses on services – customer satisfaction is monitored continuously. “Korbyt leads in value for money and tech support. Because size is nothing without happy customers.” A daily commitment for the more than 150 Korbyt employees in North America and Europe.
