MFEC gears up for next decade with strategic growth plans
Asian countries are abuzz with preparations to meet the 2015 economic integration deadline of the Asean Economic Community (AEC). Thailand, in particular, has established a comprehensive platform to lay the groundwork for regional co-operation. MFEC, one of the largest information technology (IT) service providers in Thailand, is among the most active players armed with a comprehensive portfolio to capture upcoming growth opportunities in the region.
"When we started, we focused on how to create projects to get more market share. We zeroed in on the demand side, but this is not the way to sustainable development since every company in Thailand is doing this," says president and CEO Siriwat Vongjarukorn. "So we concentrated instead on building supply to bolster our capacity to support companies as they grow."
Through supply side human capital development, complemented with strategic ventures and partnerships, MFEC targets a compound growth rate of 15 per cent for the next decade.
MFEC collaborates closely with its clients to tailor solutions according to their requirements and budget. Aside from facilitating clients' growth strategies and boosting their revenues with best-of-breed solutions from global technology partners, MFEC also innovatively creates in-house solutions using technologies such as open source and cloud computing. These solutions can effectively cut the IT costs of clients by as much as seven times.
Banking on its expertise to achieve further growth, MFEC aims to become more independent from exclusive vendor partnerships. MFEC is building up its research and development capacity to market its own products. This strategy complements MFEC's positioning as an internationally renowned IT firm.
Aligned with its globalisation strategy, MFEC opens its doors to mergers and acquisitions with IT companies from China and Japan that have more than 10 years' experience in the industry.
"These will be mutually beneficial partnerships. We will help them grow their business in Thailand just as they can help us grow our business internationally," Siriwat says.