After a period of instability, Alt-X-listed 4Sight has turned its fortunes around, successfully navigating through the Covid-19 pandemic-linked lockdowns and restrictions, and ultimately delivering double-digit growth by 2022.

The multinational diversified technology group, which listed in 2017, reported significant growth in the past financial year, while adding more people to its workforce and expanding geographically.

After the group fell into the red and faced a temporary suspension from the JSE in 2019, it revamped its operations, setting off on a new strategy that has led to growth over the past three years.

In 2022, 4Sight reported a 20.7% increase in revenue, a 93.9% increase in operating profit, a 10.1% increase in gross profit and a 20.1% increase in its cash balance.

4Sight Holdings CEO Tertius Zitzke said that, with a new board established and with robust governance foundations and independent committees, policies and charters set in place, the group developed focused strategies and defined where 4Sight wanted to deliver.

By the time the Covid-19 pandemic hit, and lockdowns and restrictions were applied, the company was ready to assist the modern digital enterprise and meet the needs of digital transformation of businesses, he told Engineering News & Mining Weekly.

Following what it calls its “consolidation phase” from 2020 to 2022, 4Sight is now positioned for growth in 2023 – and beyond – with indications that the first half of the 2023 financial year is set to follow the same upward trend as 2022 as it stays focused on its defined strategy on products, people and innovation, supported by prudent cost containment.

4Sight, which automates processes around people in a business, remains secure in its strategy.

The group’s solid organisational structure and revised annuity-focused sales strategy enables the business to scale to meet increased demand, resulting in improved profitability, increased flexibility and enhanced efficiencies.

“Despite the challenges of the loadshedding crisis, rising inflation and interest rates and currency fluctuations, we have seen an increased demand for our solutions. More customers have chosen 4Sight, as they rethink their business models and opt for technological integration and innovation,” he said, adding that the drive towards hybrid working, as a result of the pandemic, is a positive legacy that is here to stay.

“We have also seen an increased move toward our cloud-based solutions, as South African customers seek new data centre solutions to mitigate remains risks.”

He further pointed to the increased demand for more self-service and automation and changes in business-as-usual, owing to significant artificial intelligence growth and progress in terms of ChatGPT.

“We recognise that we are in the middle of the next revolution and 4Sight is positioned in the middle of it.”