The Pathway - Sweden

Welcome to

The Pathway Sweden

Azets Group five year strategy

For internal use, not for wider circulation 2022 Azets. All rights reserved

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Azets Sweden Country summary at a glance

June Mejlgaard Jensen MD Sweden and Denmark “With our talented employees, we will be known as the best professional services player, driving the Swedish market across Accounting, Advisory, Payroll and Interim, backed with the modern technology our clients need.”

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£41m

Revenue Growth in the next 5 years

+314

People Growth in the next 5 years

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What we offer Azets in Sweden has a wide range of clients from enterprises to franchise-dealers within the retail, energy and property sectors as well as several high profile clients and well-known brands in the industry.

We service the entire market of payroll and accounting BPO and provide a broad range of offerings within advisory, payroll, finance and interim-services. Throughout the Nordics we are technology leaders, harnessing technology with system platforms and use of RPA for optimisation and accuracy.

Serving 1,300 clients, we employee over 330 employees as well as being supported by approx. 70 employees from our Romanian team.

About our leader June Mejlgaard Jensen: MD Sweden I worked as an Auditor for 12 years in a state authorised Audit company prior to my career in Azets. As well as leading Azets in Sweden since 2020, I have also been the MD for Azets Denmark since 2006.

My aim is for us to be our clients’ ”Top of Mind” supplier when it comes to outsourcing and the best place to work for our employees. It makes me proud to work with employees that every day try to improve and do their best and want to develop, learn and succeed. Culture is the key, to show respect to colleagues and our clients.

Azets is number three in Sweden today and we want as a minimum to keep this position. There is a tough competitive landscape, but I am confident we can win more market share and keep growing our Swedish business, not just in outsourcing but also within the SME market.

With our talented employees, we will be known as the best professional services player, driving the Swedish market across Accounting, Advisory, Payroll and Interim, backed with the modern technology our clients need.

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The Five Pillars at a glance: Talented Smart People Our team are best in class on all levels and we will strive to maintain and improve this expertise - always.

Our brand is strong in Sweden where we are well regarded as a provider of outsourced business critical accounting, payroll and interim employees services. We will continue to invest in this area as well as building brand awareness as a trusted advisor to our clients as more of our traditional transactional work will be automated. The increase of advisory and technology services will drive margins upwards.

Our employees have played a significant part in our historic growth and through LeadsGo (employee generated leads) our employees will continue to play a key part in our organic growth success.

Across the Nordics we have a high performing sales team and we will invest in our Swedish sales team to increase the levels of direct inbound enquiries, We want to significantly increase the scale of our Swedish operation and we will look at highly selective strategic M&A to accelerate our growth in scale. This will also allow us to quickly enter markets with new client service offerings in the areas of HR, Legal, Technology and General business advisory.

Our ambitious growth potential will be realised by continuing to build and invest in our strong employer brand. We will support all our employees in obtaining the best qualifications to build expertise, and offer inspiring career plans and remuneration packages. This will be backed by exciting work spaces and the best IT setup and support processes that will also deliver exceptional value to our clients.

We will focus on succession planning, retention and recruitment to strive and be an exciting employer of choice in Sweden.

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Ambitious Growth Our aim by 2027 is to reach £40 M in revenue, through 5% organic growth with an EBITDA margin of 15%.

We will build a stronger brand and reputation to increase the awareness of our services and interim business, strengthen our focus on cross-selling and add on sales opportunities including HR, Legal and Payroll/Accounting in general.

Increasing cross-selling will in the future have a significant effect on our revenue and be important for our growth.

Our employees will have the exciting opportunity to learn new skills with an increased focus on advisory services as we continue to automate and nearshore our traditional work. Margins will be strengthened from increased advisory, nearshore and automation as we keep building more efficient processes. Cross-selling, via Leads-Go, will be monitored and expected to generate potential leads, including for the Interim business.

Effective Technology Technology will continue to drive our business towards our the future, and we will strive to: • Harness the high demands from the market and clients by focusing on delivering effective and innovative technology-led digital solutions • Constantly scan the market to ensure we are competitive and in the best possible position going forward • Keep building our inhouse digital suite to ensure we can deliver in the most efficient way with the necessary tools and solutions to reach our goals • Translate our client data to offer insights that help them drive their business decisions forward.

Operational Excellence We have successfully work with colleagues in Romania as a near shoring solution for our Swedish business and this will continue. As we accelerate our growth we must ensure we have an efficient client focussed approach to our processes with quick turnarounds to deliver to our clients. An increased focus on developing standardised PAG E 4 OF 5

operating procedures to drive efficiency and allow us to optimise the use of nearshore options is key to our future success. We will invest in the automation of repeatable business processes where possible to allow our talented employees to take more time to help their clients. We will continue to be at the forefront of using innovative technology and efficient system solutions, and invest in nearshore initiatives which are crucial to manage the increase in volume, starting from day one to maximise efficiency and increase margin.

We will prepare for the future by driving and embedding our Azets Move Program including several optimisation projects which have clearly defined targets over the coming years. The program is anchored in the senior management team to ensure it receives priority focus throughout Azets.

Personalised Client Service Our relationship with our clients is personal – always. That’s our goal and links to our purpose to improve their lives, every day.

At present the largest part of our business is the provision of BPO payroll to large and enterprise clients. These clients require us to optimise our efficiency and work to reduce the cost to serve them. We have a strong track record in this area and we have reduced client churn by almost 60% as we focus more on client service levels.

We understand this market and personalise our services to their needs. As we move to have more SME clients and provide more bespoke advisory services we will invest in training our employees to understand the needs of SME clients and provide them with the advice they need.

We will continue to embed and implement the Customer Responsible (CR) role. The CR is the person that makes the relationship with our clients personal and we take that seriously with the aim of: • Making our client feel safe and always know whom to contact within Azets in Sweden • Building strong trusted relationships – this is how we want to work, think and act when interacting with our clients • Continuing to offer insights, advice and innovative services that they feel confident to buy based on strong, trusted relations

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Our Pathway started by celebrating the diversity of the clients and market segments that we serve and how important that diversity is to create a strong growth platform.

As we travel forward we will increasingly align the different parts of our business.

Together as Azets we are committed to and are focussed on: • Continuing to invest in developing our Employees to provide them with the skills they need for today and tomorrow.

• Building a brand that will punch well above its weight to increase our market share in our existing markets as well as ambitious growth in the SME market.

• Renewing and increasing our commitment to the environment, to having a diverse workplace and operating our business in an ethical way.

• Creating a strong advisory capability and breadth of services to help make the lives of our clients easier.

• Continuing to invest in market leading technology that will support our growth and competitive edge.

• Using our superior advisory offering and the digitisation of client data to deliver ever-increasing levels of personalised client services.

By delivering on these strategic aims we will undoubtedly improve the lives of our colleagues, our clients and our communities in a sustainable way.

Success Together, Suksess sammen, Menestystä yhdessä, Framgång tillsammans, Succes sammen, Edu üheskoos, Succes Împreună!

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